Takeaway from Liquidation: Diligence Isn’t Key to Becoming Wealthy!

Numerous traders endlessly fight for opportunities that they are afraid of missing in the forex market, vacillating over financial products and continuously shifting to different time periods. Unfortunately, their accounts can only see the plummet as time goes on instead of the progress in line with their hardworking.

This refers to trading frequently, or so-called diligence, a typical bad habit of investors, which isnt the foundation for being rich. The more times you enter the market, the more risks you have to face!

The winning rate that seems to be 50% at the beginning can be reduced dramatically by the irrational, capricious decision of conducting transactions.

In addition to hefty commissions triggered by trading frequently, traders lacking rational thinking may only focus on gaining profits and fully forget to contemplate consequences caused by failure.

Therefore, how can we prevent ourselves from trading frequently？ The answer is setting strict restrictions on the number of your transactions. Some may wonder whether the inaction on the signals of market entry breaches the rule of trading based on the unity of knowing and doing.

Of course not. The forex market is changeable, leading to a situation where the winning rate of signals can vary according to different time points, fundamentals, and other factors. Rigorously restraining the number of transactions can phase out unclear signals and improve the quality of trading.

As trading opportunities are infinite, please dont pay too much attention to how many you can seize at the moment. The higher the threshold for trading is, the fewer the number of transactions will be. In this way, your forex trading can be smoother!

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