What's Your Biggest Forex Problem?

by Richard Hill

I want Forex Round-Up to really help you in your forex trading.

So, I really want to get a feel for where everyone’s at so we can focus on your biggest forex concerns.

That’s why today I’d like you to tell me your biggest forex problem...

What’s the one thing that stops you profiting in forex?

I’ll go first...

When I started day trading forex on my own account, I found the emotional side of trading too much.

I was so keen to spot a trade opportunity that I would watch my screen and wait for the moment to strike.

I found it very difficult to be patient and not get bored.

This meant I would often try and make a trade happen, instead of waiting for the market.

I’m sure I’m not the only one.

Being stopped out after just a few minutes

Naturally, I had some day trading methods, but the trade signals I was looking for didn’t happen very often.

I couldn’t wait.

I would place a trade when a similar trade signal appeared.

Surprise, surprise, the trade would get stopped out in minutes and I’d end up with a loss.

It sometimes seemed like as soon as I placed my trade the market immediately knew and decided to turn around and go in the opposite direction.

Have you ever felt like this?

Problem was, I’d rush to place another trade, not realising I was already in a slightly flustered emotional state.

And yes, the inevitable would happen, a poor decision and another losing trade.

This is such a bad feeling. You’ve been concentrating on the screen all day and you have lost money.

It’s actually worse than having nothing to show for your effort. You would have been better off doing nothing all day.

But you have to understand that this is part of the journey to becoming a successful trader.

Ask anybody who succeeds in forex and you will hear how they learnt from a few tough knocks.

You see since then, I’ve completely changed the way I trade.

I realised, I’m not cut out for staring at a computer screen all day.

Setting your own time to trade

I prefer to trade time frames of a few days or trade quick movements at specific times.

This means I only need to check my laptop or my mobile phone at set times, sometimes only once a day.

I can’t make mistakes like I used to because I’m not sitting in front of my laptop all day.

Even better, I usually out and about doing other things like cycling, fishing, canoeing or playing snooker.

And of course writing Forex Round-Up.

In other words, setting my own time to trade frees up my time to do other things I like doing.

So what is it you struggle with?

What’s the biggest thing that stops you profiting in forex?

Let me know and we will share the biggest issues and ways to overcome them.

We can then all improve and make more profit.

Best Wishes,

Richard Hill
Editor
Forex Round Up

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What's Your Biggest Forex Problem?

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