When we start a traditional business, we know that it would be great if we could just take out our expenses in the first year. We don’t even think about profits. But in the market as a newbie, we want profits from day 1. Why this? Ever wondered. many people interpret trading as a scam but it is not so.
Many people say that trading should not be done because of its uncertainty and betting. In forex, if you are buying the currency of a country so you are betting on the economy of that country. So if the economy of that country boosts up so you are going to have profits. In trading, there are two rules that one must follow. First is if you don’t bet you can’t win. Try to trade with higher probability always. The second rule is if you lose all your chips, you can’t bet. So this is also very important that you should have a risk management factor in your trade.
The key to trading is PATIENCE. Not for trading only for every person patience should be in the attitude of a person. 95% of the traders blow up their trading accounts because of impatience, and unrealistic assumptions. The expectation is getting rich overnight. It’s said that no worthwhile outcome in life comes easy. Patient traders always earn from one trade only and they never push trades. Patient traders allow the trades to come to them and take sniper entries. Never rush is their motto.
So never think that Trading is a scam which is the mentality of many people. Trade with the highest probability of success. Whatever trade is taken it should be mixed with patience.’
To know more about trading refer this