Question -

Mindset a forex trader should keep?

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Kenneth Scott
Answered 1 year, 10 months ago
<p id="isPasted">A successful forex trader should have the following mindset:</p><ul style="margin-bottom:0cm;" type="disc"><li style="margin-top:0cm;margin-right:0cm;margin-bottom: 7.5pt;margin-left:0cm;line-height:normal;font-size:15px;font-family:&quot;Calibri&quot;,sans-serif;color:#1F1F1F;background:white;">Discipline:&nbsp;Forex trading is a high-risk activity, so it is important to be disciplined in your trading approach. This means following your trading plan and not letting emotions get in the way of your decisions.</li><li style="margin-top:0cm;margin-right:0cm;margin-bottom: 7.5pt;margin-left:0cm;line-height:normal;font-size:15px;font-family:&quot;Calibri&quot;,sans-serif;color:#1F1F1F;background:white;">Patience:&nbsp;Forex trading is a long-term game. It takes time and practice to become a profitable trader. Don't expect to get rich quickly.</li><li style="margin-top:0cm;margin-right:0cm;margin-bottom: 7.5pt;margin-left:0cm;line-height:normal;font-size:15px;font-family:&quot;Calibri&quot;,sans-serif;color:#1F1F1F;background:white;">Risk management:&nbsp;Risk management is essential in forex trading. This means knowing how much money you are willing to risk on each trade and having a plan for how to exit a losing trade.</li><li style="margin-top:0cm;margin-right:0cm;margin-bottom: 7.5pt;margin-left:0cm;line-height:normal;font-size:15px;font-family:&quot;Calibri&quot;,sans-serif;color:#1F1F1F;background:white;">Acceptance of …</li></ul>