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Are you an expert when you win, a beginner if you lose?

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  • Are you an expert when you win, a beginner if you lose?

    Does it mean that you are an expert just because you make a lot of profit? The amount of profit cannot be used to measure the value of a trader. Yes, you must be doing something right if you are making a frequent profit. However, that does not determine if you are an expert or not just by your profit. This is quite a common misunderstanding in the forex industry.

    Making a large profit is only one side of the forex market. Majority of forex traders tend to lose most of the time after they have experienced profit. But why?

    So many traders fall into a fantasy land where they make an endless amount of money at the beginning. Many beginner traders tend to gain profit at the start not knowing the importance of technical analysis of the market.

    The experts on the other hand who stayed became wealthy and stayed that way, continue gaining profit, are all knowledgeable when it comes to the basics. Experts have dialed many ways to control their minds to be set right to be a trader.

    Understanding of the market is a must know anyway. Expert traders wait patiently until the right opportunity comes. Opportunity comes to everyone.

    What differentiates the experts and the beginners is that experts know when the opportunity has come and knows to take advantage of it. Making profit by luck is possible, and yes luck is also very important. But can you profit with luck every time?

    How an expert trader is determined is not by how much the person gained, itís about the precision and the frequency of results. Profit canít be maintained by luck. It is maintained and is a result of precision and strategical execution. You shouldnít worry because youíre not gaining any profit right now.

    You should be building your skill sets to be a better trader by experiencing many trading situations of losses and wins. If you invest in your time to improve, your results are guaranteed to increase more frequently and will become more stable.

  • #2
    I can't agree more on how well you've explained this. Actually, a successful trader is not determined by big wins, neither is a failed trader determined by big losses. Consistency matters a lot, and how well you are able to build a winning strategy. If you have enough patience to see your profits grow and discipline to manage your risks well, then your chances of consistent success are higher