Confidence is the most basic thing

[Edward Peterson]

Confidence is the most basic thing in forex trading. Most of time trader sees their impulsiveness as confidence. Confidence is something that impact you to loosen up while you are on the trade or off the trade. To get sureness, first thing is to extend knowledge about trading. By then practice, practice and practice. Test your strategy in demo account for 3 to a half year. It will help your conviction an extensive measure. I moreover trade forex at XeroMarkets broker. I for the most part think about their advanced instructive materials. Those are to a great degree useful for me.

 

[ryanb9690]

In the book Mind over Market of J. Dalton, he said confidence gain from trading logic, which is basically knowledge acquired from experience. So I agree that we should practice, practice and practice like you said above.

 

[abdou.loco]

im 100 % with you i think to be confident and to control your emotion are the fuel of trading

 

[firehand]

100% confident when making profit.. but loose it all when loosing.. then keep looking for a called "perfect" trading system..

 

[Robert Hills]

According to me, forex trading is profitable enough to be a worthy career choice for those who wants to earn money sitting at home. There are so many people who earn lots of money through forex market. It needs to know some basic techniques and a good broker. Techniques help you to decide where to invest and how much. On the other side good broker suggest or advice you what is good for you to make profit. I use TP Global FX as my broker. they help me to make decision about my trading.

 

[Salva98]

Worst thing that has hold me on being profitable has been the switching between systems. Not being confidence on myself nor the system (even after I backtested for a while). This is a game for those with strong minds.

 

[Masera]

thanks for sharing your experience. I am an amateur but I will take care of your advice

 

[Salva98]

How long have you been trading and how long has it take tou to be profitable?

 

[mlawson71]

I have been trading for a few years now and I think for most people it takes well over a year.

 

[alojzy]

have your confidence but don't wait too long to admit your mistakes... Stop Loss should be one of your best friends

 

[Ifc]

Yes I agree with you.gone through that phase before

 

[jimmy1982]

Confidence, Patitence and right decision at right time also brokers play a big role by spreads. U need to select good broker with tight spreads.

 

[Sherverty]

A good amount of self-confidence and positive thinking with plenty of braveness is the greatest tools to become a successful trader in this market.But yes we must first have the ability to get some good amount of cash investments in the market for trading such a large amount of money.

 

[conn4000]

Confidence is the most basic thing in forex trading. Most of time trader sees their impulsiveness as confidence. Confidence is something that impact you to loosen up while you are on the trade or off the trade. To get sureness, first thing is to extend knowledge about trading. By then practice, practice and practice. Test your strategy in demo account for 3 to a half year. It will help your conviction an extensive measure. I moreover trade forex at XeroMarkets broker. I for the most part think about their advanced instructive materials. Those are to a great degree useful for me.

Agreed

 

[broforex]

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[moe81]

I echo you, many times I stopped trades due to lack of confidence and just minutes after they resumed to my target

 

[Mikeman]

For sure, all confidence stems from past experience reading the charts, executing trades and acquired knowledge... just a matter of putting in your 10,000 hours

 

[blstr88]

I echo you, many times I stopped trades due to lack of confidence and just minutes after they resumed to my target

Same here, actually it happened too many times... overprotecting capital on a spike, just to see that few minutes later its going my way just how i imagined, but the trade is already stopped near zero profit...

 

[johnere]

best confidence you can get is by getting the statistics of your trading plan backtested

 

[gjisef]

so it is not the most basic thing. it is just the consequence of practice and knowledge.