Reasons why not to give up trading

Believe it or not, everyone who has ever traded faced that same moment of doubt. “Should I keep going?” - One of the most common questions going around traders’ minds over and over for days, months or even years. While each case is different and there cannot be a right answer for all of them, most of the time the answer ends up being “yes”. And let me explain why:

Trading is about knowledge


I know… you are surfing the internet and every single day you find new brokers offering you the best, most advanced solutions to earn thousands of dollars while only investing $50 and… did I mention it is all risk-free?

Well, sorry. Someone has to break it up for you. Miracles happen, but you can just sit around waiting for them. Trading is about knowledge and knowledge means education. Nobody is asking you to hold a PhD in Economics or Finances, but you have to put some hours into the matter, sit down and process information and learn the basis. No way around. If so far you haven’t done so, then it is not too late to start.

Trading is about practice


I cannot emphasize this enough. Trading is all about constancy and sweat. Think of it as a sport. You don’t get better without training. So each time you feel demotivated, try to rewire your mind as an athlete and instead of just getting pissed off with the charts and hit the bar, breathe, meditate and repeat. Always repeat. Because each time you fail, you are learning.

You are not alone


And it is true. You are not. As I said at the begging of this piece, many traders face the same negative impulse to quit trading because it’s either too hard, too time consuming or too expensive. Negative arguments will always be there. But positive ones too. And it is up to you which side you embrace. Do you embrace challenges or failure? Do you focus on pluses or minuses? Blogs, forums, websites… the web is full of reliable resources to share your experiences and help you become a better trader.


Source link   Presented by Fort Financial Services

Is gold the best safe-haven asset?

From the thousand articles you read this week about the market, gold has been mentioned over and over again as a safe-haven asset. And yes, despite...

Bitcoin: a real investment?

The fact that you made a couple of bucks buying and selling Bitcoin doesn't make it a true investment. At least not for Warren Buffett, one of the world...

Habits that reduce your Forex risks

There are plenty of blogs out there. Some good, some not. And there are thousands of publications talking about risk management. While many...


A word on treasury yields

The yield of the benchmark 10-year Treasury note reached 3 percent in the previous session, a level not seen since January 2014. Gary Pollack, head of fixed-income...

Trading synthetic currency pairs

A synthetic cross currency pair refers to an artificial combination of currencies usually not available in the market. If you are taking your first steps in the Forex market...

Easy ways to avoid scammers in Forex

The Forex market is not a scam. In fact, it is an amazing place to make money. Unfortunately, dirty scammers (which operate not only in the Forex market...


Start paying attention to position size

When it comes to risk management, everything counts. And defining the right size for your position plays a key role in the equation. Intuitively...

Trading journal: should you keep one?

There are so many Forex blogs out there. Sometimes I think too many actually. But some of them are pretty useful (like ours, of course) and a common...

How to 'trade the news' in forex?

I am sure you've heard of it. The term 'trade the news' refers to those guys who would rather read newspapers all day instead of sitting...

  


Share it on:   or