eToro – Forex Trading Forum

[Patrick]

I am a egoist person. I admit it. On my 2nd month of trading, I was once on a roll of 12 consecutive winning days. That made me think I have found the way in winning in forex. I felt invincible and unbeatable. Then guess what? 3 following days of losing erased all my 12 days of winning. In that 3 days of losing trade, I practically refuse to close losing positions. I thought I could not be wrong. I felt lousy after that episode.

The truth is, there is no perfect trading solution. In fact don't believe anyone who told you there is one. We may win sometime or maybe most of the times but we must remember the forex market is dynamic and depend very much on global news. Hell in fact if you are unlucky, everything can goes against you.

The key here is to acknowledge that the sentiment of the market has shifted when you see it instead of deny it. Also always keep yourself updated on news that will affect currency movement so you can make better adjustment.

In short, do not be too rigid in your trading. Flexibility is one of the key attribute to successful forex trading.

[annet1983]

i agree with you.