Tag Archive for currency

Enjoy your mistakes

Throughout your forex trading career, you will experience both up- and downswings. Not having the occasional losing streak is inevitable; no one manages to profit from every trade he makes. As you would have expected, you will probably have more losing streaks the less experienced and knowledgeable you are. In the beginning, Forex trading can be a bit tough, just like anything else is in the beginning. I mean, you’re not likely to be rocking out a guitar solo the first time you pick up a guitar, are you?

So, when you begin trading Forex currencies (which you can learn on this website!), be prepared that you will run into some dead ends in the beginning, which can be very frustrating. This is something you have to accept and one of the key things when learning something new is to look at the bigger picture. If you find yourself losing money on your trades, try not to see it as a mistake, but rather an opportunity to learn from your mistakes. Don’t expect to become rich overnight when you start trading, try to realize that it is a slow and steady profit that is going to pay off big time in the long run. Keep your end goal in sight at all times, and when your trades fail, keep on going.

I have found that people that are really good traders rarely seem affected when their trades go wrong. As you trade you will learn new things all the time, and in my experience, a positive person always have an easier time learning things than a negative person has. Therefore it’s important that you do not focus on the things that are negative i.e. you bad investments. Actually try to be glad when you make a mistake! Acknowledge the fact that it was a bad trade, and try to analyze it so that you can learn something from it, and then try to be positive about learning something new.

Another good idea that you can employ in order to learn from your bad trades is by keeping a trading journal. This will allow you to go back in history and get a good overview on your previous trades, allowing you to find common occurrences that take places when you have a losing period. This then helps you learn what not to do when you are trading badly, such as trade too much, invest too large amounts of money in order to win back what you’ve lost etc.