The Golden Rules of Trading.
A position trader is a Forex trader who will hold a position in a trade for a long period of time. The “holding” period can last anywhere from hours to months to even years! This kind of Forex trading is typically used only by extremely patient traders and requires a good forex education and understanding of the fundamentals. My trading education and experience comes from The Apiary Fund and I am so thankful for my education because without having a thorough education under your belt.
Not only does every trader typically possess bad habits, but every person in general usually has bad habits they wish they could correct. When it comes to trading, it's so important to exercise good habits rather than strengthening and further supporting your bad habits. By doing so, you will be leading yourself to profitable trading sessions and the development of your overall trading performance.
Being too eager in Forex markets can cause you to lose not only a lot of money but also a lot of motivation to continue to further your trading career. Being aware of your trading transactions and noticing how it can resonate in a series of future losses is so important so you don’t ruin your chances at being profitable when trading. It’s very common to fall prey to your own impatience in the hopes of making some “fast cash.” Trading is usually an inconsistent and at times a rough environment, so it's best to step back and really think before placing trades to avoid making costly mistakes. The best route when trading is to patiently wait for the best opportunities to align themselves and then act on your trades fiercely.
Sometimes the stress of trading Forex may feel like it results in the development of "patients" rather than patience.
Which is good for doctors...not so much for the Forex trader.
Some might imagine the markets as a high-risk, stressful, and rushed environment where papers are being thrown and people are yelling. Your trading does not need to be this way. With a well-thought-out trading plan, and the patience to follow it, you'll begin to find a sense of peace in the markets.