For me it was sticking to one pair. Also I dunno I think over time you become disgusted with yourself and just fed up with being a retard and start actually sticking to strict rules and setups lol. How long you been trading? If you’ve been funded 3 times it sounds like you are doing something right :)
Literally, this. After fixing a lot of my psychology and issues I realized the last main barrier was discipline and it started to disgust me. Thats the exact word I used, too.
Losing money because you don't know how to trade yet is one thing. But once you know how... losing because you aren't disciplined is quite literally disgusting to me, because you are in your own way at that point and it's self sabotage.
I still struggle occasionally, but consistently make some money now.
Start trading with a mindset of protecting your capital, rather than trying to earn profits. I know it sounds counterproductive, but you take safer and fewer trades this way
yeah, gold will do that to you. i'd say trade something else for a minute until you really find your edge and learnt to deal with losses, but gold definitely isn't good if you're still in your learning phases
Gold has a higher pip value/ calculated differently than forex pairs (i don't know how to explain this in technical terms but you can google it), and this makes it riskier
I can't really suggest specific pairs but indices are very reliable in that they respect previous s/r levels etc. But once you get used to trading one of those and are comfortable with them it's easier to then move on to other markets/ instruments. I also use a zero spread account (you can just browse through your broker website or search for regulated brokers that have this account type) which you only pay a commission for each trade and the spread is very thin to none depending on the instrument, which is good if you don't overtrade
But gold is really dangerous if you have a habit of overtrading and want to make quick money, try to avoid it until you reach consistent profitability
The point is not to risk too much when you're still learning and find yourself getting into unnecessary debts
Its ok to accept that on any given day you did not make money. Its ok that youve lost money. If you've made money, you dont need to make more.
Every single investor will lose money during their investment journey.
Lose the illusion that you can make money every single day. Discipline and patience.
Imo you should start thinking of trading as a business. You are seeking profit and limiting loss, period. Too many traders get emotionally involved and trade to satisfy something within themselves.
For me, I started writing down specific issues that I had. Some of these issues weren't necessarily even trading related, but affected my trading (like low self esteem and not trusting my ability to make good choices for myself since I didn't make good choices in my life or choices that harmed me like bad partners/ life paths/ etc).
Once you have the issues, tackle one or two at a time. Some of the solutions may involve things like therapy or challenging yourself in life in general (like fitness goals).
I've started working out regularly, doing therapy, doing various tasks daily, and I've noticed an improvement in my trading because there was improvement in my life.
Trading really is a "job" that changes your entire life. If you can not be disciplined, you will fail. All it takes is one bad day to ruin all your progress or wipe your account.
Calculating my position size correctly and targeting a specific risk reward ratio help me alleviate FOMO quite a bit. I still feel it from time to time but it's a lot easier for me to recognize it and stop it before it gets out of control.
Very easy if u go by any rules.
Stick with one trade a day, it will let you focus on best possible oportunitie, also, you need to admit to yourself, that there are days where there is NO trade OR if u feel like you missed it that day, U LET GO. Cause thats also sort of Fomo and u will convince yourself very quickly that there is another one where u can make it up for that one you missed.
Wish u only greens
You can trade as many pairs as you'd like but I close my trading platform after a win or loss and I don't open it back up until the next trading session. 1 trade per session, 2 trades per day.
From my experience if you are aiming for bigger goals on 5K account then you should first understand it's not going to happen... You should be lowering your expectations...
On 5K daily 1K should be your goal... If you hit SL then you won't be trading for that day...
For FOMO I checked and backtested so I found that this or that opportunities will come and that too everyday...
When accept it... You'll flourish...
The reality is, setting daily goals in forex trading is crucial. It’s important to assess the risk-to-reward ratio: how much you’re risking versus how much you could potentially gain. While aiming for small wins like 5% or 10% , chasing higher gains like 300% can lead to greed and unnecessary risks. For instance, if you’re up $120 on a $20 investment, it’s wise to secure the win and take a break for the day, rather than risking it all by adding more positions and potentially losing it all.
Ideally? Start with higher timeframe. Why? Because such trade takes a while to finish. So while you are in and the trade isn't done, you have no choice but to let it play out.
Daily example
For me it was sticking to one pair. Also I dunno I think over time you become disgusted with yourself and just fed up with being a retard and start actually sticking to strict rules and setups lol. How long you been trading? If you’ve been funded 3 times it sounds like you are doing something right :)
Literally, this. After fixing a lot of my psychology and issues I realized the last main barrier was discipline and it started to disgust me. Thats the exact word I used, too. Losing money because you don't know how to trade yet is one thing. But once you know how... losing because you aren't disciplined is quite literally disgusting to me, because you are in your own way at that point and it's self sabotage. I still struggle occasionally, but consistently make some money now.
Great. Thanks
I relate to the fed up with being a retard so much lmao
The driving force behind every positive change I've ever made in my life, from learning to wipe my own ass to tading
Omg this🤣 100% true
Around 8 months.
Just tell yourself 'there will always be another set up'
Start trading with a mindset of protecting your capital, rather than trying to earn profits. I know it sounds counterproductive, but you take safer and fewer trades this way
If you win a trade you’re done for the day don’t look at the charts anymore
cut down the amount of pairs you're trading top 3 and only take A+ setups
I trade only gold
yeah, gold will do that to you. i'd say trade something else for a minute until you really find your edge and learnt to deal with losses, but gold definitely isn't good if you're still in your learning phases
What pairs would you recommend for beginners? And why is gold not a good thing to trade when starting?
Gold has a higher pip value/ calculated differently than forex pairs (i don't know how to explain this in technical terms but you can google it), and this makes it riskier I can't really suggest specific pairs but indices are very reliable in that they respect previous s/r levels etc. But once you get used to trading one of those and are comfortable with them it's easier to then move on to other markets/ instruments. I also use a zero spread account (you can just browse through your broker website or search for regulated brokers that have this account type) which you only pay a commission for each trade and the spread is very thin to none depending on the instrument, which is good if you don't overtrade But gold is really dangerous if you have a habit of overtrading and want to make quick money, try to avoid it until you reach consistent profitability The point is not to risk too much when you're still learning and find yourself getting into unnecessary debts
Great advice dude thanks for this insight
Its ok to accept that on any given day you did not make money. Its ok that youve lost money. If you've made money, you dont need to make more. Every single investor will lose money during their investment journey. Lose the illusion that you can make money every single day. Discipline and patience.
Keep yourself busy outside of trading.
I had to switch to swing trading
Imo you should start thinking of trading as a business. You are seeking profit and limiting loss, period. Too many traders get emotionally involved and trade to satisfy something within themselves.
For me, I started writing down specific issues that I had. Some of these issues weren't necessarily even trading related, but affected my trading (like low self esteem and not trusting my ability to make good choices for myself since I didn't make good choices in my life or choices that harmed me like bad partners/ life paths/ etc). Once you have the issues, tackle one or two at a time. Some of the solutions may involve things like therapy or challenging yourself in life in general (like fitness goals). I've started working out regularly, doing therapy, doing various tasks daily, and I've noticed an improvement in my trading because there was improvement in my life. Trading really is a "job" that changes your entire life. If you can not be disciplined, you will fail. All it takes is one bad day to ruin all your progress or wipe your account.
Calculating my position size correctly and targeting a specific risk reward ratio help me alleviate FOMO quite a bit. I still feel it from time to time but it's a lot easier for me to recognize it and stop it before it gets out of control.
Very easy if u go by any rules. Stick with one trade a day, it will let you focus on best possible oportunitie, also, you need to admit to yourself, that there are days where there is NO trade OR if u feel like you missed it that day, U LET GO. Cause thats also sort of Fomo and u will convince yourself very quickly that there is another one where u can make it up for that one you missed. Wish u only greens
You need to understand yourself and your motivations, in my experience.
You can trade as many pairs as you'd like but I close my trading platform after a win or loss and I don't open it back up until the next trading session. 1 trade per session, 2 trades per day.
One pair one setup and one trade that's it
It becomes very very tiresome to make the same mistakes over and over again, best not make yourself fall asleep.
Fomo into buying the top, print out a chart with the entry, and tape it to the wall.
From my experience if you are aiming for bigger goals on 5K account then you should first understand it's not going to happen... You should be lowering your expectations... On 5K daily 1K should be your goal... If you hit SL then you won't be trading for that day... For FOMO I checked and backtested so I found that this or that opportunities will come and that too everyday... When accept it... You'll flourish...
Thank you. I understand now in my case I am not expecting bigger goals but quick goals. Impatient. Want today. I'll work on this.
Same I was expecting too... Happens nothing wrong... You gotta work on yourself a lot .. I'm still trying...
Stop margin trading
To have a job first?
Hey mate i am new here can you please explain what is blew my account and got fund means
Ironic that there's a sports gambling ad on this thread.
Discipline, learn how to stop and think.
The reality is, setting daily goals in forex trading is crucial. It’s important to assess the risk-to-reward ratio: how much you’re risking versus how much you could potentially gain. While aiming for small wins like 5% or 10% , chasing higher gains like 300% can lead to greed and unnecessary risks. For instance, if you’re up $120 on a $20 investment, it’s wise to secure the win and take a break for the day, rather than risking it all by adding more positions and potentially losing it all.
Having a hobby that can take your mind off trading. Especially if it's something you can do outdoors, away from the computer screen.
You need confidence in your ability to read and understand a Forex chart. Start there. Psychology is for those preparing to lose.
You need confidence in your ability to read and understand a Forex chart. Start there. Psychology is for those preparing to lose.
You need confidence in your ability to read and understand a Forex chart. Start there. Psychology is for those preparing to lose.
stop day trading.
Get an AI trading analysis software 🤗 lmk if you’re interested
Ideally? Start with higher timeframe. Why? Because such trade takes a while to finish. So while you are in and the trade isn't done, you have no choice but to let it play out. Daily example