This article will be helpful for every Forex trader, regardless of whether you traded before stocks, cryptocurrencies, or commodities. Even the most famous traders faced trading blocks during their careers, and sometimes it can take even months to recover.
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It is not a secret that not all traders are successful, and many reasons affect your trades. Financial markets are very competitive, and the wrong trading plan or emotional trading usually is the main problem. It's essential to track your trades and prevent these factors, so let's discuss how to understand that the problem in your trading plan or your emotions during the trading session.
Money management is one of the most critical skills for any trader. Unfortunately, many traders enter a trade without any plan or exit strategy, and it often runs heavy losses. That’s why you must know how to set take profit and stop loss orders correctly. After reading this article, you will learn how to create an exit strategy that will help minimize your losses.
Fear is one of the strongest human emotions and it can easily control our decisions and actions. And this is not surprising. The fear is a human natural defense mechanism that protects us from potentially dangerous situations.
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