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[Mar20]

Patience and discipline are two important qualities that every successful forex trader must have. Without them, even the most skilled trader can make costly mistakes and miss out on potential profits. Here's why patience and discipline are so important in forex trading:

1. Avoiding impulsive trades: Patience allows traders to take their time and thoroughly consider their trading decisions, rather than making impulsive trades based on emotions.
2. Sticking to a trading plan: Discipline helps traders stick to their established trading plan, even in the face of market volatility or unexpected events. This can prevent traders from making emotionally charged decisions that deviate from their strategy.
3. Managing risk: Patience and discipline can help traders manage their risk effectively by allowing them to avoid overtrading and making trades that are outside of their established risk management plan.
4. Identifying high-probability trades: Patience allows traders to wait for the best trading opportunities and identify high-probability trades that align with their trading strategy.
5. Avoiding revenge trading: Discipline helps traders avoid the trap of revenge trading, where they enter trades in an attempt to make up for previous losses. This can be a costly mistake and can quickly lead to a spiral of impulsive trades.

Overall, patience and discipline are essential qualities for forex traders. By combining them with a well-thought-out trading plan and a solid understanding of the forex market, traders can increase their chances of success and avoid making costly mistakes.

 

[Ming98]

Patience and discipline are two of the most important qualities for a successful Forex trader. Without patience, it's easy to get frustrated and make impulsive decisions that can lead to losses. Discipline is also key, as it's important to stick to your trading plan and avoid chasing losses or letting your emotions dictate your decisions. Patience and discipline can be difficult to master, but they are essential for long-term success in Forex trading. With patience and discipline, you can develop the skills and knowledge needed to make smart trades and achieve your trading goals.

 

[btaliat]

We should not be expecting much money especially when we first start trading in forex. It may take us more time before we can start making this money. But if we can exercise some patience, we can still make money to ourselves.

 

[Wisdom01]

I think trading is actually a gradual process , it's actually a mess to start expecting more money so fast , it's actually a gradual process , so the trader must try to understand that before they place more concern when trading

 

[Wisdom01]

Actually patience is always good but too much of it is always sometimes bad. As a trader, you need to always be very displine to your trading rules such as the entry point and eixt point. Always focused on what your can afford to lose and never let greedy deceive you.

yeah Sticking to a trading plan and managing risks properly are crucial elements for success in the trading world. Greed and impatience can lead to poor decision making and ultimately, losses

 

[Ofonime]

When it's come to the forex market I believed that patience has alot to play you must have patience and decipline like observing the lots size you want to use in your trade when this is employ you must surely take a successful trade

 

[Wisdom01]

When it's come to the forex market I believed that patience has alot to play you must have patience and decipline like observing the lots size you want to use in your trade when this is employ you must surely take a successful trade

i think is true that patience and discipline are essential qualities that a trader needs to possess to be successful in the forex market. A well-planned trade with a proper lot size can maximize profits and minimize losses. So, it is crucial to observe the market trends