years of experience

[OscarR]

Most of the successful traders I know went through years of losing or breaking even. Trading is a serious discipline- make sure that is what you want to do before you even think of starting it.

 

[Latham]

I have been trading Forex for long three years and I saw that fundamental analysis provides the most concrete trading signal. Consider political turmoil, natural hazards, price hike during your analysis. It doesn't make any sense entering the forex market without analytical knowledge. FXOpulence provides almost all necessary tools for market analysis.

 

[GeekyForex]

Most of the successful traders I know went through years of losing or breaking even. Trading is a serious discipline- make sure that is what you want to do before you even think of starting it.

Discipline is not just a desirable trait, but an absolute necessity for trading longevity. Without it, traders are at risk of making impulsive decisions based on emotions rather than logic and analysis.

Discipline means sticking to your trading plan, following your strategies consistently, and staying focused on your goals despite market fluctuations. It helps you avoid unnecessary risks and impulsive trades that can lead to significant losses.

One key aspect of discipline in Forex trading is controlling emotions. Fear and greed can cloud judgment and result in poor decision-making. By maintaining discipline, traders can overcome these emotional hurdles by adhering to their predetermined entry and exit points, regardless of external factors or emotions that may arise during a trade.

Furthermore, disciplined traders understand the importance of risk management. They set strict stop-loss orders to limit potential losses when trades go against them. This ensures that no single trade has the power to wipe out their entire account balance.

The impact of discipline on long-term Forex trading cannot be underestimated. Consistently following proven strategies allows traders to stay focused on their objectives while minimising emotional biases that often plague undisciplined investors.

Learn more about the benefits of disciplined trading.

 

[Polakandil]

Discipline is closely related to the trader's psychological condition, and here each trader has varying psychological levels. Some are weak psychologically and easily abandon discipline, and some are strong so they remain disciplined no matter what circumstances befall them. And if we learn from trader success stories, for example from the winner of the 2022 Forex Trading Championship contest, Seyit Altuntas, besides being disciplined you also have trading strategies and always follow updated economic news.

 

[borzy]

Most of the successful traders I know went through years of losing or breaking even. Trading is a serious discipline- make sure that is what you want to do before you even think of starting it.

Yeah and high percent of losing traders is basically a source of large gains made by tiny percent of winning traders. It's well known that trading is close to zero-sum gains, means it's impossible that everybody will win.

 

[VasilTodorov]

you need some years to shape your mindset and it is definitely unavoidable
it does not matter how good you might be you need to lose a lot

 

[ArnavDeshmukh]

Losses in trading teach us important lessons and help us grow. It's essential to be dedicated to this path from the beginning.

 

[benji177]

So it goes for almost everything in life. Live and learn my friend.

 

[FXOpen Trader]

Losses in trading teach us important lessons and help us grow. It's essential to be dedicated to this path from the beginning.

After we start getting the losses from our trades we will need to learn how to control them in doing our trades into the markets.

 

[Lee.me]

Build that discipline, control your emotions, and manage the risk. All this along with other branches of forex knowledge will build you that winning strategy.

 

[Fin_Trader]

Yes, in addition to a trading strategy, a trader must also have certain character traits and internal qualities in order to earn money. He must have discipline and a lack of passion and greed. He must understand that he will have to learn from his mistakes for a long time, thus improving in trading.

 

[Imogen Beaumont]

Most of the successful traders I know went through years of losing or breaking even. Trading is a serious discipline- make sure that is what you want to do before you even think of starting it.

As a beginner trader, hearing about the journeys of successful traders is truly inspiring. It's a reminder that trading isn't a quick win—it's a long-term commitment that demands serious dedication and discipline. Thanks for the reality check!