
Traders' measure of success and failure
Many people may rush to the conclusion that their trading performance is unacceptable as a result of hitting the stop for one of the transactions.
A large number of transactions is the standard used to assess a store's success or failure in trading.
For example, if a trader opens ten trades and seven of them hit the stop and only three reach the goal, the number of trades is very low.
In comparison to market risks, and in order for the stores to succeed in forex, they work hard to limit the loss
You can set a standard for yourself and assess your trading level.
For example, if you evaluate yourself on the results of 100 trades you made and look at the total result, you will see that you are making progress; however, most traders apply for each deal separately, which causes the result to be negative and has a psychological impact on the trader.
A large number of transactions is the standard used to assess a store's success or failure in trading.
For example, if a trader opens ten trades and seven of them hit the stop and only three reach the goal, the number of trades is very low.
In comparison to market risks, and in order for the stores to succeed in forex, they work hard to limit the loss
You can set a standard for yourself and assess your trading level.
For example, if you evaluate yourself on the results of 100 trades you made and look at the total result, you will see that you are making progress; however, most traders apply for each deal separately, which causes the result to be negative and has a psychological impact on the trader.
Traders measure success and failure not just by profits and losses but through a broader lens of consistency, discipline, and goal achievement. Success often includes meeting predetermined objectives, such as a specific return on investment or mastering a trading strategy. A profitable trade isn't always a success if it stems from reckless risk-taking, while a loss can be seen as a valuable learning experience if executed with discipline and within risk parameters.
Failure, on the other hand, occurs when traders deviate from their plan, ignore risk management, or let emotions dictate decisions. Over-trading, revenge trading, or neglecting to adapt to market conditions are common signs. True success lies in the journey of continuous improvement and maintaining psychological resilience in volatile markets.
Failure, on the other hand, occurs when traders deviate from their plan, ignore risk management, or let emotions dictate decisions. Over-trading, revenge trading, or neglecting to adapt to market conditions are common signs. True success lies in the journey of continuous improvement and maintaining psychological resilience in volatile markets.
Nov 25, 2022 07:40