Courage and Luck Forex trading when opening a forex transaction we will definitely be faced with the fear of loss and this is natural to happen not only to you but also to traders who have been successful. The more afraid of your feelings, the more you will never enter the market and in the end you will throw away the long awaited golden opportunity.
Moreover, fear of cutting loss after knowing that the position is against the direction of the trend or market movement, the more afraid to cut loss, the more useless our capital will be coupled with greedy by using a lot of leverage 🙁 I often experience it first and now thanksgiving has started to diminish 🙂
Some courage that must be had when trading forex
- Dare to make a decision to open a position either Open Buy or Open Sell
- Dare to make a decision to close the position either Close Buy or Close Sell
- Dare to make decisions not to do any transactions
- Dare to let the run to make profit open up to the limit you specify
- Dare to take advantage or profit on forex trading.
If you have learned how to trade forex starting from getting to know the terms used, how the concept works and how to calculate the benefits and losses, now is the time for you to dare to enter the market. If you have never dared to open a position either Open Buy or Open Sell because you are afraid of losing how you can know that you will be profitable, you have never tried to enter the market 🙂
If you have dared to enter the market now it’s time you have to be brave to close both Close Buy and Close Sell positions to reap profits and reduce losses. When your trading position is making a profit, the profit is still a floating profit, but it hasn’t become a reality before you close the position. If you want to feel the benefits, then close your trading position that is making a profit.
If there is a floating profit means there is also a floating loss that is a loss that has not become a reality before you close the trading position. The act of closing a trading position in a loss state is usually called cut loss, which is a way to minimize the risk of loss due to opening a wrong trading position (against the market direction) by closing a trading position. You can use cut loss to protect your capital from losses.
From Monday to Friday, it is not necessarily all a good day to trade depending on the situation of the mind and the forex market in particular. So you don’t need to force it to always be able to trade every day. If your emotional condition is not stable, it is advisable not to ever make a transaction because of the possibility of making the wrong decision when trading is very large.
You also have to be brave not to do any transactions when risk and reward are not in accordance with your trading plan, namely the risk of loss is greater than the opportunity to get a profit so never force it to open a trading position .
If you believe that your position is in line with market movements, don’t hesitate to change your trading type to maximize profits. But if you are afraid of losing or decreasing profits that you have obtained, then please just close your trading position to realize profits.
Luck might happen to you when trading forex but don’t always rely on luck because it might not come tomorrow tomorrow pray and always try to understand the forex market by continuing to practice reading signals based on Technical Analysis and or Fundamental Analysis.