FOREX TRADE - Risk Taker's You're Are Welcome

FOREX TRADE - Risk Taker's You're Are Welcome Foreign Exchange 'Forex or FX' is the trading of one currency for another. For example, one can swap the U.S. dollar for the euro.

09/11/2023

FOREX TRADE - Risk Taker's You're Are Welcome 🎯

18/09/2023

I believe there are two elements to this..

There are 2 things at risk in every trade:
- Financial capital
- Mental capital

Financial capital impacts your current trade.
Mental capital can impact your future trades.

Traders must manage both during periods of underperformance.

18/09/2023

Trading Tip:

Keep track of how quickly a trade reaches your target.

If a trade is taking forever to make you money, it's probably not the best one.

Don't waste your time and mental energy on a losing trade. Cut your losses and move on to the next opportunity.

06/11/2022

If you spend more than 5 minutes trying to work out if your edge is present then skip it.

The best setups are the ones that take zero thinking.

All your trades should end in one of four ways:

1. A small win
2. A big win
3. A small loss
4. Break even

You should never experience a big loss. If you can get rid of big losses, you have a great chance of being profitable for years to come.

08/09/2022

When your understand
"Less is More"

You win Forex

08/09/2022

- After some wins you feel invincible

- After a loss you doubt yourself

- After more losses you want to give up

Your mindset is your weapon to succeed, not your reason to fail.

08/09/2022

A trading edge makes you a good trader.

Risk management makes you a great trader.

Emotional control makes you a legendary trader.

31/08/2022

Just train your mind to understand and accept that not everyday is a trading day.

💲 Tomorrow is still another day.
STAY BLESSED

Know where you are getting out before you get in and risk a very small amount of total capital on each trade then let profits run with a trailing stop.

31/08/2022

95% of your problems disappear when you stop focusing on the money

And start focusing on the process.

31/08/2022

To be a successful and profitable forex trader, you must do this.
Daily: identify the direction of the Market for the day
Weekly: Identify the direction of the market for the week.
Monthly: Identify the direction of the market for the month.

If you are scalper, the daily candle stick is very important to you.
Day trader, weekly candle is very important to you etc.

30/08/2022

Anyone who tells you to eliminate emotion in trading is simply a neophyte.
Neophytes will keep misleading you until you learn.
For example yesterday I lost on a trade.
However, my instinct was not to eliminate my emotions.
You can only manage your emotions by practicing journalling or doing breathing in and out techniques after a loss.
Loses provokes negative emotions such as anger and self-criticism.
By breathing in and out after a loss you re-affirm to your brain that you are still safe.

You also avert instances of revenge trading.
Don't try to ignore your emotions or they will explode one day in your face.

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Dhaka

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