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    Thread: Is attitude and mindset truly more important than trading skills?

    1. #31
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      Quote Originally Posted by Omoba9ce View Post
      Often times, it has been said that traders need to posses the right "attitude" and a winning mindset before they can become consistently successful in forex trading. In this regard, mindset and behavior is placed above analysis skills. So what do you think, would a trader be a loser despite he has very good analytical skills in the market but lacks the right attitude?
      before you even start a trading career, make sure you have made enough preparations. these just not mean having enough money to start an investment but you should also be equipped with research n' practice. there are a lot of available free educational resources online that could help you acquire trading knowledge. you can also practice n' develop trading strategies through a demo account which is a simulation of a live trading account. if you are really a serious trader, stop asking anyone else what you should trade n' how much you should invest in it? do your own research. stop listening to the opinion of others n' most importantly stop trading based only on our predictions. research on facts, current market trends n' other factors that affect the market. base your decisions upon these data. this makes trading more systematic rather than making it seem more like gambling.
      bit by bit, over time... it will accumulate into a mountain..!


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    3. #32
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      Trading skills are wonderful but attitude is EVERYTHING. A twisted mindset and attitude will colour the trading skills such that the skills will not be able give the expected results. It is like a certificate will fetch you a good job but if your character is stinking, you will eventually lose the job. So trader's psychology and appropriate attitude are the foundations upon which trading skills can succeed.


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      Yes winning mind set and firm commitment is very important in forex trading. If we trade with rough and causal mind then we can not get professional success. We should take forex as a target and then start hard work accordingly. My observation is that most of the trader get fail in trading because they have not firm mind set so we need be focused.


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