To avoid getting a margin call, you must learn to be modest. Modesty interferes with trading at intermediate levels of trading. Many self-learned traders whoa re disciplined and came up with their own planned strategies are usually trapped by their arrogance. Yes, of course, they make profits, but eventually, they lose one of the greatest virtues in the forex world, modesty. When you become arrogant and start acting arrogant, that is when things start to fall.
Follow these simple mindsets to calm your arrogance down to be more modest.
- There are no unique, first time methods in the world of forex. No matter what you think about the strategies or plans that you have made, you will never be the first one to do so. You must learn to accept and realize that it could have already been vanished due to its ineffectiveness. Because there are always better methods out there.
- You can not 100% guarantee with any strategies or plans, yet confirmed great strategies will still be active as an effective plan. Keep yourself to be the apprentice and continue to find ways to learn more.
- Do not dive into trading right away if you do not have a strategy or plan structured. You must study your fields such as existing trade records and acquire and learn from your past. Take in what you can by reviewing your history.
- You will be able to accumulate your own valuable lesson every step of your journey as there is a saying, “walk slowly but surely”. Learn to embrace your losses and analyze it to turn it around to a win. That makes you a winner even when you have lost.