One major problem we have in the market is traders relying on old knowledge. It is pretty well known to you that the financial events of the world deliver the information or data that makes the base of your trading decisions. Most of the traders do not pay heed to this fact and lose money as it largely affects trade. There is nothing wrong in saying that traders have stopped using fundamental analysis due to technical analysis tools. These analyses are vital, and you cannot afford to neglect the key economic and financial newswires across the world. Many successful traders use this data to stay in the game.
Plus being mentally strong is another thing, as a forex trader, it’s almost inevitable that you’re going to experience some ups and downs along the way. Alertness and decisiveness are both fundamental ingredients in the recipe for a successful forex trader, and the ability to apply these skills to pressured situations while remaining emotionally and strategically stable.
I couldn't agree more, especially being mentality balanced, having the right frame of mind when the market is not going your way.
Yeah, we just have to be careful out there as the market is not stable this period especially crypto.
