Most Crypto and Forex traders are destroyed by their mindset especially as Beginners.
– They have an edge, but they don’t execute.
– They have a plan, but they break rules.
– They have a goal, but they give up at the first failure.
Master your mindset and success will follow.
Forex is a risky business but more risky when the aim to make money.
Make it a habit of trading for pips instead of money.
Pips is the only language that the market understands; whether you make or loose a million USDs, no one cares.
You see, you can open a position in GBPUSD place a lot size of 0.1, and a stoploss of 50 pips away, take profit 150 pips away. And then you go 20 pips in your favour then you see your account has profits of 20usd.
Then you desire to take profit from of the 20usd so you close.
Well, you closed in 20usd profits but look you risked 50usd (over there at the stoploss).
With this kind of trading, this account may not last in the long run…. why? Because if the trade was to go against you, and hit your stoploss, you would loose 50 usd (remember it is very hard to tighten stoploss in a loosing trade).
Aim for pips and see money accumulate into your account.
And to be at peace with your open positions, avoid looking at your account balances when your have running trades.
I noticed many fundamental traders are richer than technical traders…I traded the whole week using technical yes I made good profits but I trade one event and I made more money that that I made with technicalI noticed many fundamental traders are richer than technical traders…I traded the whole week using technical yes I made good profits but I trade one event and I made more money that that I made with technicalAll this means nothing if you do not have an account to take advantage of this offer
Open your account at
You can try
XM Capital
For forex trading at
https://clicks.pipaffiliates.com/c?c=676250&l=en&p=0
I HOPE YOU DOCUMENTED EVERY THING YOU DID THIS WEEK IN YOUR TRADING JOURNAL.
I am here to remind you of what and what you should include in your trading journal.
A forex trading journal should contain the following information:
Date and time of each trade
Currency pair traded
Entry and exit price
Position size
Profit or loss
Reason for entering the trade
Analysis of technical and fundamental factors
Emotional state and mindset at the time of the trade
Lessons learned from the trade
Trade review and analysis
Goals and plans for future trades.
I hope this helps you and if you love contents like this follow me to learn more about how to become a better forex trader.
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I see a lot of competition here,
A lot of people claim to be what they are not.
My biggest improvement in trading started when I focused on myself.
Learn your strategy and make it yours,
Do what works for you,
Sieve the noise.
Put in the work and,
Prioritize your peace
Binance, the largest crypto exchange, indicated a full audit of its assets and liabilities is some way off amid calls for more transparency following the collapse of rival FTX
https://www.binance.com/en/activity/referral-entry/CPA?fromActivityPage=true&ref=CPA_00R9LJ2LDW
For beginners in Crypto Currencies and Forex Trading your mindset Trading strategy is key.
Spartzfx 