It is true that greed and fear can lead to poor decision making and ultimately result in losses in trading. Successful trading requires discipline, right strategy, and careful planning to manage risks effectively.
Effective management skills such as risk management, and money management can increase profits and reduce losses in forex trading, potentially resulting in monetary gains.
Retaining motivation in trading can be challenging, as it requires discipline and a strong mindset. But with realistic trading goals and dedication, nothing is difficult.
Setting your trading objectives is the first step to make profit. I knew what I wanted to accomplish when I started trading, and I worked hard every day to get there.
Yes, the forex market is unpredictable due to its high volatility. However,experienced traders may easily manage & control the risk associated with market fluctuations and become profitable.
Yes, even the most experienced traders lose their money in forex.They are aware that losing money on one trade does not necessarily mean that the trading approach is no longer effective. Instead, they should learn from their mistakes and take it as an opportunity to become better.
If you really want to become competent in forex then learn from your failed trades. Analyse the underlying cause of the failure and try to improve on your plan.