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Being too attach to trading is not advisable!

Hello guys. I was just talking to a friend that is currently active in forex. He started forex trading last two months and started with $1000. He talked to me just now and told me that his $1000 just go down into $78 as of this day. HE felt really bad and he was able to point out his mistakes.

According to him, being to attach to forex trading is not advisable. He said that that was his mistake. He should have just treat forex as a normal day to day activity and he should trade with less pressure, greed and the feeling of revenge.

How was his analysis guys? Give me your thoughts.
 
Like one person said to me, it is not wise to put all of your eggs into one basket. It sounds like he was out of control. However, this seems to be the common story for a lot of beginning traders. I agree with him. This should also serve as a lesson to other people that are interested in Forex trading. They should take a look at this story and many other stories like this in order to give them an idea about what could happen if they are not careful.
 
Those emotions are just normal in trading but you have to control your emotions because it can really affecting your trades, being a greedy is not a good thing or feeling, you need to have a good money management in Forex, In Forex you can't always expect to win in a trade.
 
wow, what a huge loss. by the way, you should ask your friend that he have plan or not when entering the market to trader? if he have plan, I think huge loss can be avoided. besided there is no plan, I agree with your friend said that emotional factor control over him.
 
Hello guys. I was just talking to a friend that is currently active in forex. He started forex trading last two months and started with $1000. He talked to me just now and told me that his $1000 just go down into $78 as of this day. HE felt really bad and he was able to point out his mistakes.

According to him, being to attach to forex trading is not advisable. He said that that was his mistake. He should have just treat forex as a normal day to day activity and he should trade with less pressure, greed and the feeling of revenge.

How was his analysis guys? Give me your thoughts.
Attach to forex trading or attached to the position that you are holding? because its give different meaning.
I'm attached to forex trading. I love forex trading. I spend lots of my time doing research and doing some reviews and trade and so far I'm earning some how. But it does not mean I'm attached to each position I open. I have open more than 100 position each week and some of those position I closed at all. In fact all of my position in one of my forex account I always close on friday either in profit or at loss. I never tried to attach myself to my open position.
I guess what your friend mean is that don't attach yourself to open position or don't hold a losing position.
 
It's not good being too attached but you will surely get attached when you are trading with a huge amount in here as what you've mentioned your friend trading with 1,000 dollars in here, and that was really huge, and impossible not to be attached when you are trading such huge amount in Forex trading.
 
Sincerely it's such a great loss.Your friend to me put too much into forex.sincerely to me he was a bit too forward as in not asking for advice.Well better luck to him next time.i just hope he would be learning from his mistakes.
 
I'm totally into forex trading now. I priorities forex because I do believe this is the best passive income generator that I can find online. I just need to commit myself to earn more in here. I don't think theirs a sense on what the author has posted in this thread. For he even don't have good experience in forex trading. A clear sign that he sees forex in negative views.
If you are earning good in forex you will going to say that forex is a good one and theirs nothing wrong if you get attach to it.
 
Well if he knew he was a beginner, he should have used demo account to practise getting better at it. He might have done that already, and if he did, then he didn't carry out his trading behaviour as he should have done while trading in the practise account. That is a big loss from 1000 down to 78 in just 2 months.
 
To some traders, $1000 may just be a normal amount. But I believe that to most people, especially the beginner traders, that amount is quite a huge amount. I, for one, consider that amount as something substantial enough. It would make me feel depressed for some number of days or even weeks, if I will lose that amount.
 
To some traders, $1000 may just be a normal amount. But I believe that to most people, especially the beginner traders, that amount is quite a huge amount. I, for one, consider that amount as something substantial enough. It would make me feel depressed for some number of days or even weeks, if I will lose that amount.

Obviously it is already a big amount for a friend who has only been trading for half a year. Now he stopped trading for awhile because he was really depressed and he said that he will wait until he knows that he is more ready for big time trading.
 
$1,000 is a very hard loss, especially for someone like me. These days, it actually takes almost a year for me to make $1000. (I am couch hopping) I myself would be depressed if that happened to me. I lost $3 from gambling and that depressed me. However, this will likely pass and before you know it, the person is back into Forex trading with a more sober outlook.
 
Being too attach to trading can sometime make you more diverstated.
Loss can also arise from here if a trader is working too long in forex so we need to have our own set plans for that.

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Being too attach to trading can sometime make you more diverstated.
Loss can also arise from here if a trader is working too long in forex so we need to have our own set plans for that.
 
Being attach to your open position is not advisable as you need to close your losing position right away if its going to incur you more loses. but being attached to trading I don't see any reason why not. Because right now I have six active accounts and I really do trade every days. In fact I can't live without trading in a day. But I'm rewarded with profit each month so I don't see any reason why we going to have problem at all.
 
indeed for those who are really able to master forex trading their main livelihood is trading at any time so that they will always do the trade for achieving monthly targets, but to make forex trading as the main job of learning takes a very long time and no small amount of capital and must have an optimistic nature to achieve success in the trade.
 
Been too attached to trading has it own advantages and also disadvantages i sincerely speak here that if a trader is too attached and trade always in the forex market then the trader has to do many trade with errors but when trading on point then he made it more
 
make trade rules in themselves and not means binding oneself must trade all the time, bound here means that we have to obey all the rules that we make so that we do not make mistakes that end up harming yourself with the rules we can control all the action would we do such acts of carelessness or selfishness to make a profit as quickly as possible without thinking first
 
Only what we need is a trader that will have discipline. If we are going to trade with our plans or rules in trading then, we should follow it but most cases traders are often did not stick with their trading strategies or plans and end up fail or lucky to change their minds.
 
make trade rules in themselves and not means binding oneself must trade all the time, bound here means that we have to obey all the rules that we make so that we do not make mistakes that end up harming yourself with the rules we can control all the action would we do such acts of carelessness or selfishness to make a profit as quickly as possible without thinking first

This can only result in losses because one is forcing themselves to trade all the time and there are deviations to the trading strategy at times. One should learn to be disciplined and patient at the same time to wait for the right trades and follow the trading plan in order to influence the right trading results.
 
I do not understand the meaning of the topic. I know over of everything is bad, but if one can afford to stay close to trading as often as he/she can and see good opportunities to make good profits, then by all means the trader has to be attached to forex trading. Where there is problem, is when trading becomes the focal point of life and there is a lack of moderation.
 

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