We am always thinking about losing money as opposed to making money

[Albert04]

We am always thinking about losing money as opposed to making money

• The most important rule of trading is to play great defense, not great offense. Every day we assume every position we have is wrong. We know where our stop risk points are going to be. We do that so we can define our maximum possible draw down. Hopefully, we spend the rest of the day enjoying positions that are going in our direction. If they are going against us, then we have a game plan for getting out.
• Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead.
• We know that to be successful, we have to be frightened. Don't focus on making money; focus on protecting what you have.
• The traits of a successful trader: The most important is discipline – Everyone says that. Second, you have to have patience; if you have a good trade on, you have to be able to stay with it. Third, you need courage to go into the market, and courage comes from adequate capitalization. Fourth, you must have a willingness to lose; that is also related to adequate capitalization. Fifth, you need a strong desire to win. If you can't take a small loss, sooner or later you will take the mother of all losses.
• There are old traders and there are bold traders, but there are very few old, bold traders.
• If you argue with the market, you will lose. It is incredible how rich you can get by not
• We have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet.

Frankly, We don't see markets. We see risks, rewards, and money

• The markets are always changing, and the successful trader needs to adapt to these changes.

The secret for winning in the stock market does not include being right all the time

• Some people say, "I can't sell that stock because I'd be taking a loss." If the stock is below the price you paid for it, selling doesn't give you a loss; you already have it.
• Letting losses run is the most serious mistake made by most investors.
• The whole secret to winning in the stock market is to lose the least amount possible when you're not right.
• Before taking a position always know the amount you are willing to lose.


Best Regards
Albert,

[PapiaKhatunAsha]

Forex is not easy trading it has lots of techniques, a passionate trader can achieve their goal. Therefore traders should gain vast knowledge and practice more. A good trader always makes business strategy and they always analyze market conditions. My broker is FreshForex which provides the best analyzing information to the traders and provides the best guidelines. However, it helps to make business strategy and provides the best offers and bonuses than that of other brokers.

[BubbleGum]

The only reason you lose money in Forex is because of your poor risk management, and even worse, no risk management. It is considered to be the major reason why Forex traders lose their money quickly. Risk management is considered to be the key to survival in Forex trading including day trading. You could be a good trader as well as still be wiped out by poor risk management.

[dangtrader]

Originally Posted by BubbleGum

The only reason you lose money in Forex is because of your poor risk management, and even worse, no risk management. It is considered to be the major reason why Forex traders lose their money quickly. Risk management is considered to be the key to survival in Forex trading including day trading. You could be a good trader as well as still be wiped out by poor risk management.

Yes I would advice to always use stop loss and trade only with trustworthy brokers like Hotforex if you want to keep systemic risk low, like broker bankruptcy, scam etc.

[BubbleGum]

Yeah, I have heard about the firm and I would like to give them a try, but before that I would like to learn about the Forex Trading and Forex Market More before I choose any broker.

[mlawson71]

People lose money in trading for many reasons - sometimes because they don't know how to trade, sometimes because they get ripped off by shady brokers, which, unfortunately, are a serious problem for the industry. The important thing is to learn how to avoid them, and, of course, to learn how to trade.