In addition to a large portion of stamina, experienced traders have a high tolerance for frustration. Maybe it’s the theoretical expertise that you don’t understand at first. Or a currency pair will develop differently than you first assumed. Or you even lose some money. Anyone who gives up now in frustration has not obeyed one of the most important laws of successful traders. Professionals never stop. It is important to keep going continuously and not to give up even if the initial failures are met.
A high degree of frustration tolerance may be required if you want to assert yourself successfully in the market. But in view of the exciting developments on the markets and the considerable chances of winning, it is worthwhile to stay on the ball and quickly leave one or the other experience of frustration behind. Those who can quickly shake off their first failures and learn from their mistakes have the best chance of profiting from a very exciting market and developing into recognized professionals.
Once you have realized your first profits and developed a feeling for the trends in the markets, it should not be far from the supreme discipline of the foreign exchange. Then it is important to develop your own theories in order to better assess the trends in the market. Once you realize that young beginners are using your theories as followers, you can definitely count yourself as a professional as a trader. If beginners align themselves with their own theories and copy them for their own trading, it means that they are finally at the zenith of their own development and serve as role models for young beginners. At least now, commitment and hard work have paid off.
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