When trading forex daily losses and profits are not the sole indicators of overall profits, while one day might bring inevitable losses, the overall account may still be profitable. Be patient; compare long term profits against long term losses to estimate your profit margin.
Trading is about psychology as much as it is about skill. While understanding the market and price movements is important, entering the market with negative expectations will only hinder the outcome. Despite unexpected volatility and the possibility of losses maintaining a calm attitude and focusing on positive results can get you far.
Forex offers a fast paste environment where fast decisions must be made at all times. A good trader must trust their instinct and decisions and act fast before suffering big losses.
Forex has its own terms which must be understood in order to learn and trade forex. Become familiar with the forex language through FxNet’s glossary. Understanding these terms will save you a whole lot of confusion!