(Newswire.net — July 18, 2018) — Different traders have different time limits to remain on the market. It can vary based on the level of experience. Why do some traders leave the market in a short time? Is there any specific reason to leave the market? Probably there’s one reason to leave the market i.e. traders don’t feel like they belong to the Forex market. But why? The major reason is because they don’t know the market. They don’t know to make profits. They don’t know how to enter into the right trades. They keep hitting the wrong ones. So it is possible for them to earn ONLY losses. So, is this the fault of the market or the traders? Or is it because of the insufficient knowledge traders have about the market? There can be many reasons why a trader loses good trades, but leaving the market is a huge decision. If a trader is leaving the market it must be because of his own faults. However, such traders should learn to grasp the market knowledge if they want to become successful. So likewise, there are some other traders that enter into traders perfectly yet give up without mere reasons. Why can be the reasons for their behavior? Why do they give up on good trades even they have analyzed it really well?
You must be a confident person to become a full-time trader. Those who fear to take the risk should never trade the Forex market. The spread betting profession is a very challenging task and if you fail to manage the risk factors you will have to pay heavily. Finding the best trades and executing it with managed risk is a state of art. Unless you devote yourself to the retail trading profession and know about the three major forms of market analysis, becoming a profitable trader will be very hard. So take your time and educate yourself properly.
They are not phlegmatic
Could it be the reason? Obviously, it is one of the reasons for giving up. If you are phlegmatic you wouldn’t have doubts about your skills. You would know that you have studied the market really well. You have tested the method on a Forex trading demo account and what not? So, how could it go wrong? Well, this is why we said they are not phlegmatic. Usually, a confident person wouldn’t have if’s and buts in his plan. But a person who doesn’t have a phlegmatic mindset will have a lot of ifs and buts. In trading, you shouldn’t have doubts. Meaning, once you have entered into a trade you should not think whether or not to exit. Your plan should be really good to avoid such thoughts. If you have created an ‘A’ class plan you wouldn’t worry about these things. So, basically, if you are one of those people who easily give up on the trade you should learn to become a confident trader.
They do not have targets
If you are planning to become an engineer, doctor, or someone worth being, you would work for it. What if you have no plans? What if you have no targets in life? So people without targets wouldn’t make much effort to work hard. They wouldn’t worry about anything. So, they would live for the sake of living. The same thing applies to trade. When a trader trades for the sake of it, he won’t worry about giving up. So, be cognizant of having targets.
They have no tolerance for losses
What are you doing in the Forex market if you have no tolerance for losses? The ideal place for a person with such attitude would be a casino. A trader cannot remain in the Forex market if he doesn’t have the ability to tolerate losses. The losses will be there in the market. You will face losses no matter what, it is the way Forex works. So, learn to accept losses.