You also need to be patient, emotions is everything. Don't greed or dispare take on you. Remember take it like a game with some skill and science and you will see results. It's sort of a sport as well. Be patient once again! Feelings should be put aside while you do it.
Overtrading is extremely dangerous, and is more like committing trading suicide. Many traders who fall into this trap are guided by emotions, especially greed. One should endeavor to trade with limits and not bite too much than you can chew. Its better to trade small and win small, than trade big and lose big.
Greed will lead you to overtrading and definite defeat by Forex market. On this market any sort of emotions can easily cause trader to make wrong moves and burn his account to the ground. Be smart trader and leave emotions aside
Many forex traders are planning to turn out to be rich in fast manner today. But through the proper use of trading skills, expertise and knowledge any forex trader can think of achieving his trading objectives. But in doing so, no trader should take decisions in hasty manner. Rather each trader should give proper attention on how he can take participate in trading with the proper usage of trading methods.
I agree that overtrading is very dangerous for every trader. In order not to learn this fact in a hard way, it would be advisable that all new traders learn importance of discipline and stick to their strategy no matter how tempting some market moves might be
It's very important to control your emotions, since emotions and trading can not combine successfully. Greed is the cause of many traders' failures and therefore one should endeavor to overcome by all means. Understanding trading psychology is very important here.
Ensuring an effective trading voyage can be the ultimate objective of any foreign currency exchange trader. A trader should conduct proper analyses which can guide to take successful trading decisions. Effective trading decision process is actually reliant on how well a trader can behave as per market behaviors since we can't change the market happening. Rather we need to cope with the market by applying suitable techniques and using proper risk supervision processes here.
I agree with Anna. Discipline is not something that is natural to any person. It needs to be thought and trained. So, is with traders. During time they will realise importance of being disciplined on Forex market in order to sustain capital and stay for a long time on this market