If you’re in debt or losing while trading forex and looking for what’s wrong with you,
And what hits you hard, I’ve got you, then!
I have picked out the key factors with my years of experience-” the 3 things I wish I knew
When I started forex trading.
A Short Backstory
I know that many of us who are trading forex come in for many reasons , ranging from forex trading,
Entertainment to earn some extra money to become a qualified forex trader and work
They have been working extensively for a few years, so they don’t have to work later in their lives, and …
… I do, too. I was so fascinated by knowing the profit of forex trading per day and how much they do
Professional forex traders believe that I really wanted to become myself in order to raise my forex.
I really watched a tonne of video tutorials and read books on when I started forex trading
“how to begin forex trading” or “beginner forex trading” or “how to sell forex trading”
And whatnot, and learned a great deal.
Do you know what worked for me when I began trading on my own?
In a few weeks, I lost nearly 23 percent of my $10,000 account with the “perfect plan” I lost.
Fetched from the videos I watched and for a while, I stopped trading.
I’ve worked, I’ve learned, I’ve tried, I’ve failed, and I’ve finally become a successful forex trader.
So I want to share the ‘3 things I wish I knew when I started trading forex’ in this article.
Let ‘s start …
01 Less will serve you more
I ‘m talking about everything you put or include here that isn’t useful or that can give you
Poor outcomes in the long run.
For example, you may become very confused and confused if you use a lot of indicators while trading.
The choices you make may not feel confident.
A person should, in my opinion, remove the redundant indicator that does not serve any
The simpler and simpler your scheme is, the better it is.
And also, I would like to point out that there are a few high probability trades between trading and
You should always go for the few high probability trades, many with low or medium probability.
You will be more assured of your outcomes in this way and spend less time in front of your PC.
Another thing I’ve done wrong and watched many others make the same mistake is trying to do it.
In one go, trade in 6-7 different pairs.
Believe me, it will only confuse you as a trader to trade too many pairs at the beginning and will
It certainly causes you to miss-trade.
I strongly advise you to first start with 1-2 pairs and only add more once you are skilled in
The first few pairs.
02 Build “a better risk management plan” over “the best trading system”
See, with a 95 percent win rate, you can either have the best trading system or you can build a trading system.
A better risk management plan that will support you whenever you encounter a difficult time.
In my view, from my entire trading experience, the most significant factor out of these “3”
This one aspect is to understand things I wish I knew when I started trading forex.
You must have a good risk management plan and concentrate on building it correctly.
Prioritizing on win rate optimization.
Even if you have a win rate of 95% but a bad risk management plan, you will lose in the long term.
Just run for sure. You will not be able to grow after a certain threshold without it.
At the start of my trading career, I wish someone had told me this so that I would have
They avoided focusing on the win rate and must have concentrated on the ratio of risk to reward.
03 Get yourself ready to face hard times at least for 3 years
If you think forex trading is a “quick rich” scheme and you hope to transform your forex trading.
In just 2-3 months after you start the trade, life and earn loads of cash, then my humble
The request to you is-do n’t get in here, please.
Even the most profitable traders and professionals take at least 3 years of training to learn.
Average before consistently becoming profitable.
So, I would suggest that you have patience, confidence in the process and that you believe in the long run.
Regardless of the hard times you will face and the losses you will face, they will be profitable.
To sum up, I would say that I understand that there are many other aspects that need to be considered.
When trading forex, consider, but these are the three main things I would like to know when I started trading forex.
Forex trading, which could have reduced my years of failures and sadness.