Well I think this is true. When I first started trading (with a demo account) I was reluctant to pull out of a trade when it was going against me. It guess it went something like.....'maybe its a pull back and not an actual change in direction' but you only know for definite when you have already lost money. Its so easy to say when your sitting comfortably in your office chair when you Work At Home ahh that will never happen with my trading - and if it does then you need to learn from the experience and build a better exit strategy into your trading plan. On paper it is relatively easy to Make Money trading the Forex Market but there is a psychology to trading well and building a Home Business as your future earning capacity and fulfilling your dreams of Financial Freedom.
It is very hard to cut your loses but you need to for your money management strategy aswell as your trading plan. Forex Trading is something you need to learn how to do and this learning doesn't happen over night. It takes time to understand market movement, back test strategies, find out which indicators and moving averages suit you best and do you use Pivot Points aswell as Fibonacci?
If you are prepared to really Learn Forex Trading it is such a great opportunity. Millions are already trading but I don't know how many adopt good trading attitudes, see trading as developing their Own Business and treat it with the same respect as if they were starting out with a business loan in hand. Having said that it offers such freedom that I would recommend it to others and great for Work At Home Moms, those who do shift work and those who just want to Earn Extra Cash.
So trading Forex Market isn't just for the City boys then!
Cool.....!!
Cyaa
Annabel
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