think differently

[FXOpen Trader]

Everything gets much more difficult when everyone's ultimate goal is to make money. Long-term success, however, can be more easily attained by adopting a different approach and concentrating more on risk management. You'll be able to leave others behind if you do so.

We will have to start making some Efforts so that our risks can also come down.

 

[Feticide]

Every trader joins forex trading with the aim of becoming profitable but not all of them are able to reach their goals. The way they analyse the market and execute their trades is what makes them successful. You have to keep thinking of ways to improve and make the most of the moving market.

 

[Gargoyle]

I believe the main goal of a trader when trading forex should be to make good strategies. Once the market turns and the trader’s strategy is not working, he must change the strategy. As the forex market is volatile, it is a universal fact that one strategy cannot work and make profits all the time. The trader must be cautious and analytical enough to study the changing market, and make a new strategy by thinking differently.

 

[Tom Latham]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

 

[zoe]

When the forex market is in correct place, his passion starts to work and a foreign currency exchange trader may work as per his planning. But when market moves negatively, decision making process can be difficult. It will be a big mistake for him if he tries to work with his old approach even when he sees that approach is not working and that mistake can be expensive for him.

Honestly it is not easy to deal with things like these because your mind state has a significant impact on the decisions you make, particularly if you are new to trading. But is definitely important we keep a calm demeanor is important for consistent trading.

 

[Akira Rush]

Beginner traders might find trading forex difficult and complex and even struggle to make profits. Having the right mindset is important before starting to trade.

 

[Colossus]

To think differently is to be bold in your choices, to be expressive in your views and certainly to be artistically true to yourself. It is a mindset that needs to be adopted and a process that comes with practice. After all, change doesn't happen overnight, and neither does being different. Thinking out of the box always makes us make better decisions in forex. Once you get a deep understanding of the market, we get good at trading. The forex market has numerous opportunities but it is highly volatile and during such situations, our analysing capabilities save us from losses.

 

[FXOpen Trader]

I couldn't agree more, one important thing that can help is to align our personal goals and temperament with relatable instruments and markets. This will help put in check any rash decisions we will take in the long run.

In the business of foreign exchange market it becomes important for the traders to be able to set some goals.

 

[Bahiya Shinam]

Choose your broker considering the facilities of high trading leverage, narrow trading spread, flexible margin, high security of funding, technical errors free platform. A broker’s regulation is badly essential for traders for their own fund security. The platform of a broker should be user-friendly.

 

[EloisDavis]

With proper research comes good decision making skills, honestly if a trader knows their plan and also understands how sometimes it is okay to shift with the market direction, then he/she is only moving towards the opportunity that is benefiting them. Traders must know how to scan and analyse market shifts to know which trend to follow.

 

[LouBega88]

Nothing in Forex space is compared to skill and experience. But, it’s essential for a trader to be well learned, motivated and mentally-fit for trading. Traders should identify their deficiencies and then work on them to repair. However, traders must start trading with a reliable trading broker.

 

[Pedological]

I believe this is a well known fact, especially among traders who have been trading for at least some months now, if not beginners. When the market changes its directions against one’s predictability, then they should change their trading plans as well. Or, make modifications in their strategy if the situation demands.

 

[Fx Master]

practice is important , i know but after passing sometime we the traders lost interest , so we have to make practice step by step.

 

[The trader]

so many online courses in Google , and most of them are found as scam. you can believe in this community.

 

[zoe]

so many online courses in Google , and most of them are found as scam. you can believe in this community.

One shouldn't necessarily fall for scam in looking for materials unless they are requesting you pay money for it, then you have to be careful.

 

[Andrew McCalam]

so many online courses in Google , and most of them are found as scam. you can believe in this community.

agree with you . that is really challenging.

 

[zoe]

agree with you . that is really challenging.

You don't pay for it, it doesn't have to be scam. Besides people hardly pay for materials this days, because there are so many free materials online and most brokers offer good materials for their clients too.

 

[Isotaach]

Where every other trader is running the same race to win, it takes a strong realistic mind to stay on the right track and make the right use of the market movements. Everyone analyses the market but what sets you apart is how deeply you went to understand what was happening.

 

[zoe]

It's depending upon you, if willing to pay for a service to get a new learning environment, maybe no matter to take an online course, but if you want to get free learning resources, there are so many sources like blogs, forums communities, articles,s, etc.

Exactly, it all falls back to personal choice. If paying for materials is something you want to do and can do, then you have no problem, but it shouldn't be because we feel there are no good free materials out there.

 

[JimmyChoo]

Forex is really a challenging issue , need a very long time issue first of all.