Purpose of Forex trading? Is it all about making money? If trading for the purpose of making money, can it be successful or not?
Reading through the article title, many people will laugh, because most forex traders are for the purpose of making money, it is obvious. Why did I ask this question and then dissect it into a detailed article?
That's right, trading forex for profit is the primary goal of almost every trader! However, with a few seasoned traders and still attached to this harsh market, after a long journey of experience and taste all levels of emotions in trading, they suddenly realized that then TRADE FOREX NOT FOR MONEY - IT REALLY BRINGS THE BEST RESULTS.
The following are very honest shares on this issue:
1. THE ROAD, AND THE GROUPS OF FOREX TRADERS:
- Group of new joined: When first entering the forex market, most people think that this is an attractive investment channel, it is a market that offers a lot of opportunities to make money, even make a lot of money quickly. At least the forex market can make money faster than all other investment channels, such as stocks, real estate, savings in the bank, etc. The reason is also the purpose of participating in this harsh market in just 1 word MONEY.
- Group of traders leaving the market: According to the trading time, won a lot, lost a lot. At that time, the belief and thinking about the ability of traders to make money in this market will gradually decrease. Along with that, many traders give up this profession and switch to another profession, either because they lose a lot, or lose a little but are too tired without seeing the effect. But most of the reasons for giving up are due to 1 word FAIL.
- The group of traders who persist with the market: The few traders who persist with the market will be for reasons such as: Despite losses, there is still money and enough faith to pursue, or the results have been gradually positive over time (from more losses, to fewer losses, and from draws to starting to win), or have gradually found the "holy grail" that can beat the market, but when the When they get the real "holy grail", they suddenly realize that they are no longer in this group, but will jump into the last group, also in the singular, below.
- Group of successful traders: This group is one of the very few that trade and keep trading because of passion. It sounds a bit funny, but it's true. Even then, it's just pure fascination with just trading on a demo account. For these few people, watching the price of the forex market move up and down, looking at the daily charts, or learning about trading systems is pure discovery, and fascinating strange to them, not that they want to trade winning to make money. It can be funny, they are like real scientists, passionate about research and creation to satisfy curiosity and passion, not for the purpose of selling inventions to make money. With these people, I have absolute confidence that they succeed, definitely succeed!
SO THAT, YOUR GOAL (SAME AS MY) IS TO BE IN THE GROUP OF SUCCESSFUL TRADERS.
VERY EASY TO SEE IT, BUT VERY HARD TO DO IT.
= = == > LET'S TRADE FOREX FOR PASSION
2. REASONS TO SUCCESS FROM TRADE FOR PASSION:
- The following saying can be true for all areas of life: "Work for your passion, the results will come to you". When you just stop at hobbies, it's easy to give up when faced with difficulties. But if you do it for passion, you will almost die with it, no matter what difficulties or obstacles you can overcome. The journey to conquer the forex market can be said to be an extremely harsh journey, without passion, it will certainly not be possible to reach the destination. Statistically, the majority of traders give up on the forex market after 1 year of trading (and mostly losing), which speaks for itself.
- With burning passion, faith always exists very strongly. Faith is your companion and support on the arduous and difficult journey. Without faith you will not be able to reach the end of the road. A trader who believes in himself always has a solution.
- Passion for forex does not mean to encourage despite limited financial conditions to burn money in transactions, continuously losing money but still do not know when to stop to look back and adjust accordingly. Passion for forex is being passionate about price charts, enjoying learning and setting up a trading system that yields results with many winning trades. The passion of trading is pure passion, not the enjoyment of just looking at the winnings. And the passion for this profession is that even trading on a demo account feels satisfying, or just looking at the price movement on the chart.
- When you trade forex for passion, greed will hardly exist. Then your trading psychology will be very stable. With signals from the market that do not qualify according to the criteria of the trading system, you can easily dismiss it. But when trading forex for the sake of making money, greed and haste will prevail, and "signal forcing" (not qualified but still trying to enter orders) will happen often. Moreover, the desire to make money will push traders to enter orders with a larger volume (to make more money, when you want to make money, it's not enough). Over time, traders will lose themselves, the plans will stay only on paper and cannot be disciplined according to it. Therefore, a trader who has a good trading system, high winning rate, but still loses and his account is blown up is very natural.
- When you trade forex for pure passion, you are inadvertently entering the realm of "emotionless trading". Wait, this passage sounds like a contradiction, doesn't it? TRADE FOR PASSION - WITHOUT EMOTION??? Try to separate the aspects of the problem, you will find it very logical, not contradictory. You simply enjoy trading, but you don't love - hate - when the trade is negative or positive, win or lose (remove the ego from the trade). When you achieve this, MONEY WILL FIND OF WINNING TRADES. If you own a trading system with a high win rate, and you often have your account blown up because of too much volume, because you can't control yourself, then you are only missing this step. Again, you can reach for success, let's try it out.
Here are some sharing with elements of my personal experience. Thank you for reading and sharing this article, see you in the next articles.
Best regards,
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