Treat Forex Trading as an yearly business
Aug 21, 2016 at 11:17
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4 Replies
Členem od Feb 07, 2016
21 příspěvků
Aug 21, 2016 at 11:17
Many forex traders are expecting a lot of unrealistic profits from the market.They are expecting to become a millionaire within few months.This unrealistic expectation make them to lose all their money in forex market.
From my point of view, if you are a swing trader or positional trader, you must treat forex trading as an yearly business.Why I am saying forex trading as an yearly business???
Because I never measure my profits after one or two months.(Example: If you start trading with a capital in January 2016, then you must calculate your profit or loss only after one year.That is in January 2017).If you treat forex trading as an yearly business, then it's not necessary to worry about the in between losing months during this one year period.
From my point of view, if you are a swing trader or positional trader, you must treat forex trading as an yearly business.Why I am saying forex trading as an yearly business???
Because I never measure my profits after one or two months.(Example: If you start trading with a capital in January 2016, then you must calculate your profit or loss only after one year.That is in January 2017).If you treat forex trading as an yearly business, then it's not necessary to worry about the in between losing months during this one year period.
"Slow and steady wins the race"
Členem od Feb 12, 2016
427 příspěvků
Aug 25, 2016 at 11:55
If you want to be a professional trader and get a good income from this kind of business you have to be patient indeed. To sum up your results in less than an year is wrong in so many ways indeed.
I have to agree that calculating your Profits and Losses monthly or weekly is always a bad decision. At least one year is good period of time. Also you have to make researches and to observe different instruments which cannot be done for days or weeks or months. Trading is more serious than most people think and needs more time for developing your own strategy than using it afterwards.
I have to agree that calculating your Profits and Losses monthly or weekly is always a bad decision. At least one year is good period of time. Also you have to make researches and to observe different instruments which cannot be done for days or weeks or months. Trading is more serious than most people think and needs more time for developing your own strategy than using it afterwards.
Accept the loss as experience
Členem od Dec 11, 2015
1487 příspěvků
Sep 04, 2016 at 10:33
(Upravené Sep 04, 2016 at 10:34)
Most businesses do calculate profits every month, even if the most important calculation comes at the end of the year.
Členem od Nov 03, 2015
9 příspěvků
Sep 27, 2017 at 06:25
Personally, I believe it is better to focus on capital preservation than profits. Every trader will lose money at some point. The key is to survive.
Short-term price movements are market inefficiencies - take advantage
Členem od Feb 22, 2011
4862 příspěvků
Sep 28, 2017 at 14:43
prakash104 posted:
Many forex traders are expecting a lot of unrealistic profits from the market.They are expecting to become a millionaire within few months.This unrealistic expectation make them to lose all their money in forex market.
From my point of view, if you are a swing trader or positional trader, you must treat forex trading as an yearly business.Why I am saying forex trading as an yearly business???
Because I never measure my profits after one or two months.(Example: If you start trading with a capital in January 2016, then you must calculate your profit or loss only after one year.That is in January 2017).If you treat forex trading as an yearly business, then it's not necessary to worry about the in between losing months during this one year period.
The novice trader you mentioned cannot measure their accounts profit/loss after a year. The reason is that they wipe account much sooner. :)
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