The lack of a good trading plan that includes rules needs of entries and exits will surely make a trader fail in the long run, beginners usually suffer these symptoms they abandon their trading plans purely by impulse when things do not usually go exactly with they had imagined.
Repeatedly they use unreliable methods that fail to generate profit, many traders hold their positions in perks talking to themselves “this is going to change” when everything is indicating that it will continue against them, because they can not bear the thought of a loss. In the GigaFX reviewyou can have the best information such as the following:
- Why do they torture themselves?
- Why do not they identify what is wrong and change?
For some people to recognize that a negotiation or even a method is not working and change is easy but for others it is very difficult. They have to look at their limitations and admit that they have made a mistake and it hurts their ego. Psychologically it is risky, and often it is better to be deceived.
The Risks and the Complications:
- They go on like this, living in a state of denial until their accounts are completely plucked. If you recognize these traits in yourself, you should stop trading immediately.
- Take a good look at what is happening, try to identify the problem. If you look close enough maybe see a pattern, that is why it is vital you to keep a diary of your negotiations and collect as much information as possible, you have to break the old standards and see things in a new vision.
- You will never be a successful trader if you continue in this state of denial. What can be done to return to reality? There are many things that can be done.
Make sure you are not trading under stress, when you are stressed you can not see clearly, you become rigid and unable to see alternate views, one of the easiest solutions is to deal with smaller batch. A minor trading less stress, especially for beginners, if you are already experienced and have a series of losses, reduce your contract until your confidence comes back. Some people have to take a long time completely away from it all, take your mind off the Forex.