Only a fool would believe that you can enter the competitive Forex arena without taking a few blows. An even bigger fool would also believe that all the blows he or she might endure are shallow. Accepting loss is one of the key elements any trader or investor has to master even before they go ahead with their first trade. It’s an inevitable part of the daily forex circle of life, some will rise and others will fall instantly and it can’t be any simpler than that.
Although you cannot avoid losses altogether there are ways which an aware trader can take advantage of in order to always be the one holding the reins regarding how hard he or she is to fall if they do.
Traders are probably tired of hearing this but actually it’s the most important and basic rule of any venture in the trading world, that is to never stray from your strategy. Forex trading is part lack and part intuition among others but one of the biggest mistakes both novice and experienced traders make is overestimating their own reach. There might be a day where the wins seem to be flowing in but this confidence should never hypnotise the trader and trick them into trading and investing more than they originally planned to.
- See more at: https://www.hiwayfx.com/forex-articles/take-your-forex-losses-man#sthash.W4y0jabV.dpuf
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