Don’t Fall in Love with Your Forex Trades

ARE YOU IN LOVE WITH YOUR FOREX TRADES?

Do you find it difficult to exit a losing trade, convinced that it will turn around soon in your favour?

Traders are told that to be successful, they have to cut their losses and let their profits run.

So why is it that we tend to do the opposite?

If you go through your account over periods of loss, most of these will have come from trades you exited far too late.

If you fit this bracket, then success will not depend on finding the right methodology, but rather on your ability to ruthlessly cut your losses.

The other side of the coin is not being able to take your profits.

Most traders think the most important signal is the entry signal.

But knowing when to take profit is just as vital.

Imagine you are in a winning trade.

You wait and wait and greed overcomes you.

You feel almost paralyzed.

All the times you exited too early and you kicked yourself flash before your eyes.

This time it won’t happen again you say to yourself!

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