About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

6 Comments

  1. Well, I’d say until you lose, you most likely won’t have the necessary discipline or respect for the market. Also, you must keep in mind that this is a probability game…so you have to keep your emotions at bay in your decision making and use cold logics. This is one of the most difficult things!

  2. Jose Sanchez on

    Great article, thanks.
    In my experience, I have found that the very first thing we must stick to is risk management, risking no more than 1-2-3% per trade give us the chance to mantain our hard earned money into our live account. This will apply for all of us even if we traded a demo because when real money comes into the game the game rules changes drastically. Keeping the risk low allow us to “learn” how to trade and how do we react to trading without blowing out the account. This was my experience, first year in red but never below 40% losses till the account starts to recover gradually.

    Thanks for your valuable articles,

    Best regards,

    Jose

  3. it nice to hear you state that u encourage new biss like us however to learn a srategy require determination and comitment,on my own case i love my style but i ve not yet resign from 9-5 job i need more help and confidence.thanks.ADEGBUYI

  4. Great reminder. I cant immagine that I learned and lossing in forex for three years and just got to my senses last week.

    I think discipline is the most important among all.

    Thanks UB.

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