Trading Sayings: Fact or Fiction

If you want to become successful in the forex market, you should have proper trading knowledge. Without knowledge, it will be quite difficult to survive in this risky market.

1. Amateurs go broke taking large losses. (Excessive risk and holding onto losers interminably)

2. Professionals go broke taking small wins. (This basically means cutting wins short that could easily run more)

I have done both of these and usually one becomes the victim of #1 after a series of
violations of #2.

Overtrading and taking random trades that are not well thought through also adds to the problem.

As Warren Buffet says, you don't have to swing at everything. Wait for your pitch.

The sayings are oral instructions which are passed from person to person and generations to generations. The origin of these sayings are mostly in the personal experience of a professional trader. Therefore, we can’t say that these are completely baseless but as every trader has a different trading style or journey, one saying can’t necessarily suit everyone.

I like this one - Be fearful when others are greedy and greedy only when others are fearful

Motivation is great, but it doesn't always match reality.