I’ve been trading now for a year and it’s only now that I’m starting
to understand the basics, as with many people starting trading for the
first time I thought it was so easy, when I lost money I thought it’s
not a problem because soon I’ll be a great trader and gain that money
back in seconds, but this continued for months till I realised I had
lost a serious amount of money, it’s a mind game, looking at it now I
see the market like one of those slot machines where you can hundreds
of coins about to fall over the edge and all you have to do is add one
more coin to the slot machine and it’ll all fall and your rich, well
the problem there as with the market is timing, and greed makes us
enter too soon or too late.
I have predicted many large moves in the market but not gained from
them because of timing, enter too early then fear makes you take your
loses before the profit comes, enter too late and your so heart that
you’re losing large amounts of money that you make stupid decisions
and lose massive amounts of money.
The hard and essential skill is discipline, discipline to wait and
discipline to keep looking and take the good trader the come, because
depending on your skills and strategy there will be many opportunities
coming and going but you can’t decide when they’ll come, when they do
come don’t enter a trader for a few weeks or months just observe with
no stress and deeply understand where your stops and profits would
have been, and perfect the best timing to enter and exit the trades,
but don’t any money till you learn because as market will always be
providing these opportunities but your money could run out very
quickly.

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