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Is Forex Trading a Waste of Time?
Tue 21 March 2017, 7:30 PM – 10:30 PM Singapore Standard Time Singapore Time
Is Forex Trading a Waste of Time? Only if You Break One Simple Rule
I have been totally guilty of this. But the first step is admitting the problem…right? I’m talking about taking trades that you have no business taking because you have not tested the system and don’t have confidence in it.
Yeah, you know the trades I mean. By taking these trades, it means that you are taking time away from things that are way more important. Even if you only have $5 at risk, your life can revolve around that trade, until you close it out. When you take these trades, you lose money and that makes you wonder: “Is Forex trading a waste of time?”
Since you don’t have a plan, the outcome is also random. It’s like the lottery; you never know what will happen. But just like the lottery, your chances of winning are very, very small.
On top of the money you are losing, these trades are costing you much more than you think. You are not spending time with your friends and family. You are not…filling in the blank…and those things add up…
I’m not saying that you shouldn’t spend time on learning to trade. If you really want to become a great trader, you have to hone your craft. You must put in the time and get educated
But I’m saying that taking trades that don’t have a solid plan behind them is a waste of money and more importantly, your life. That is time that could be spent with your lovely family, friend, Kids, family vocation, job….
As my friend Walter Peters says, trading should be boring. That may not seem like much fun .Thus, I hope that you aren’t trading for entertainment… I hope you are trading to make cash money
You have a limited amount of time on this planet . Why don’t just let the master trader do their job and make profit for you?
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