Forex Trading Library

Trade Only with Discipline!

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An undisciplined forex trader may be lucky enough to make money trading currencies in the short term. Still, the odds indicate that they are asking for trouble to appear in the form of undesirable losses if they persist in losing their trading discipline on a regular basis. Losing discipline when it comes to taking profits may not be too traumatic for a trading account, as long as a trading position is closed out before any losses start to accrue. Of course, the main risk undisciplined traders take is when it comes to closing out losing positions, which really needs to be done as soon as the losing trade is recognized as unlikely to succeed. Without the discipline required to cut such losses promptly, a trader can soon go broke, so it makes good sense to maintain discipline whenever trading in your Forex account.

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