Growing Forex Diary
Growing Pain in Forex Trading
Monday, August 27, 2007 - - 2 Comments
To become a mature trader (not master, also not a gambler I hope) I think that people will passed the growing pain process in their trading.
First trade maybe we still in new luck comer syndrome and got excited that this is a field to grow your money. We almost relied on price movement and didn’t know about system and indicator help, we just thought about profit.
After got hit by the market price movement, then we try to understand all the background behind the price. We started to trust our own indicator, own understanding in forex system, money management, but still not in maximum achievement in profit. We even might be always remembered the first profit that we have reached before and got regret couldn’t get it anymore. This is I called growing pain process. Because in a side, we already more careful with the system and market, but still in the process to build the mentality in discipline, in managing the greed and the fear between.
I started become a serious trader still not in one year, and got realized that to reduce all the pains from forex trading starting from self management just like others job that I usually did before. So, profit is not the big issue in every business, the important thing is the continuity to earn the profit even in slow growth.
I’m sure that every friend of mine or other good traders had already got the nice system for themselves (both in technical, or money management) and realized that system is not 100% reliable. So it’s still need human control / human sense to improve the result. So maybe practice makes us better, but managing the balancing of greed and fear suppose erases our pain and keep the margin up.
What do you thought ? Any opinion or experiences that you want to share in your growing pain process ??
First trade maybe we still in new luck comer syndrome and got excited that this is a field to grow your money. We almost relied on price movement and didn’t know about system and indicator help, we just thought about profit.
After got hit by the market price movement, then we try to understand all the background behind the price. We started to trust our own indicator, own understanding in forex system, money management, but still not in maximum achievement in profit. We even might be always remembered the first profit that we have reached before and got regret couldn’t get it anymore. This is I called growing pain process. Because in a side, we already more careful with the system and market, but still in the process to build the mentality in discipline, in managing the greed and the fear between.
I started become a serious trader still not in one year, and got realized that to reduce all the pains from forex trading starting from self management just like others job that I usually did before. So, profit is not the big issue in every business, the important thing is the continuity to earn the profit even in slow growth.
I’m sure that every friend of mine or other good traders had already got the nice system for themselves (both in technical, or money management) and realized that system is not 100% reliable. So it’s still need human control / human sense to improve the result. So maybe practice makes us better, but managing the balancing of greed and fear suppose erases our pain and keep the margin up.
What do you thought ? Any opinion or experiences that you want to share in your growing pain process ??
This entry was posted on 6:55 PM
You can follow any responses to this entry through
the RSS 2.0 feed.
You can leave a response,
or trackback from your own site.
Subscribe to:
Post Comments (Atom)
2 komentar:
Hi…please introduce me…I am a nubi….hehehe…anyway…..thanks for your sharing above……reading about “managing the greed and fear” I remember my mentor, Mr. “E” wrote in His book and I want to share it….that…..“Psychology is the key”…..and “how great many traders who say they want to be successful but keep making impulsive trades -going for the short-term thrills of gambling in the markets.” If we talk about managing greed and fear, we talk about how to deal with our mind. It is important and hard to do, because people deceive themselves and play games with themselves. The inability to manage ourselves leads to poor money management of our accounts. If our mind is not in gear with the markets, or if we ignore changes in mass psychology of crowds, then we have no chance of making money in trading.
We always miss the essential element of winning trade-the management of emotions……So many ways to manage our emotion. But for me the first step I do is….
I must admit that I am a loser……so... are you a loser?
**Bigdaddy11**
Thanks Big Bro ^_^
I think I have to admit that I'm a loser too, just like Mr. E said, admit it so we can solve our own lack... :)
Post a Comment