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ForexTools
07-04-2011, 12:01 AM
Does Failure Motivate You?

I'm going to write the next few tips on topics that might press your buttons. They'll help you find your hotspots and help you discover how you sabotage yourself. I've been reading a wonderful little book by Jerry Stalking entitled, Laughing with God. In that book the following dilemma is brought up, and here I'm going to rewrite the conversation to make it pertinent to trading/investing.
God: Do you want to win without losing?
Trader: Of course.
God: If you win, you must lose as well. But you lied to me. You said that you'd like to just win. If that were the case, you'd win much more often. The possibility of failure motivates you much more than the possibility of success. Your whole culture, with few exceptions, is dependent upon failure or at least the fear of failure. If there were not the possibility of failure, you could not take any credit for success. You wouldn't feel so good about winning.
Think about it. How many times would you watch a football game if you knew the outcome? It is the uncertainty of the outcome that keeps your attention.
What if you always knew what was going to happen before it does? As a matter of fact, you already have that ability, but you do not use it because everything you presently call fun in your life would be lost. You would lose the uncertainty that you thrive on, feed on, and yet attempt to diminish.
The last statement may "get to" some of you. But what if it's true? Ed Seykota said in Market Wizards that people get what they want out of the market - excitement, punishment, and a justification for their emotions. I've certainly seen plenty of evidence to suggest that his observation is true. But the conversation gets even more interesting:
God: I am saying that you already can know the future. Remember that future and past are both illusions. The fact that you ignore this ability makes it more obvious that you do not want to know the future or that you love wanting to know the future while believing that you cannot know it.
There is no time - just present. You use the uncertainty (mock uncertainty) of the past and the uncertainty (mock uncertainty) of the future to keep yourself suspended in the illusion of time while calling the whole process life.
Just to make this conversation more meaningful, imagine that you are 100% accurate on every trade. You know every top and every bottom on every stock. You are never wrong about a trade. Suppose you just entered the market and made $10 billion in a year. Would you keep going if it were that easy? Would ten billion be enough? Would you honestly keep trading?
Perhaps your response is, "Sure I would! I'd get all the money in the world." Well, would that be interesting? I tend to doubt it. Trading is only interesting because of the possibility of losing. You are now in a position where you can buy anything; do anything, etc., because you will never lose money on a trade. Would you still trade? Why or why not?
Everything in this tip may be made up. Nothing may be true, but I'd like you to assume (act as if) it is true. Just pretend that it's true. When you do so, what happens to you inside? How do you feel about trading? Would you keep on trading? If so, how often? If not, why not? What does that tell you about yourself? Is it the uncertainty that keeps you in the game? Would you keep trading if you had all the money in the world? Why? What do your answers tell you about yourself?
I would encourage you to do this exercise and notice what comes up for you. How many trades would you take if you had no uncertainty in the outcome? What do your answers tell you about yourself?
A note for your consideration:
There are many books that claim that the text "came from God" and I simply don't know whether such books come from God or not, but if they give me new ideas to ponder then I find them very exciting. If it stretches your beliefs to think it came from God, then just assume that someone made it up. But at the same time imagine that it might be true. This one gave me a lot of new ideas, and if you open yourself enough to do the same, you might find the ideas quite expansive.

UMOFX IB
05-27-2013, 03:13 AM
If I will be successful at first step I will be remain on that level for ever. My loss motivate me to learn more on forex. I tries more for practice, for knowing different strategies and trading styles. I try to be a managed and planned trader. Loss not disappoint me it motivate to learn new things. I thought I can be a good trader like others in the world.

Master Forex IB
06-27-2013, 04:49 PM
Failures do not disheart me , they motivate me to learn forex more efficiently . It was my pasion to work with forex . My loss keep me motivated that thre is some thing more which I hae to know to have a strong grip on trading.

noman9t9
07-05-2013, 08:07 AM
there is proverb that fail is the failor of success and one of the trader learn by losing money

iukknkqo
07-19-2013, 02:06 AM
Failure is the mother of success, but too many fail you will lose confidence, so do not think to fail, you need to prove their success

Master Forex IB
07-26-2013, 03:49 PM
Yes failure motivate me to do right trading . I become aware of my mistakes , see what should be adopt and avoid in next trading. Failure is a big teacher for me because in start I mostly learn from my mistakes.

Amelia Price
08-21-2013, 12:13 PM
failure is the pillar of success. so take a challenge with your failure. it will be converted as success very soon if you have patient to wait.

Maisie Barber
08-22-2013, 10:11 AM
It is true that Failure is the mother of success , but too many fail you will lose confidence but never think to fail, you need to prove their success . if u gave confident you must be success .

Maisie Barber
08-24-2013, 11:33 AM
Dear Traders
Its universal true that failure is the pillar of success so you should take a challenge with your failure and it will be converted as success very soon if you have patient to wait , thanks all .

Maisie Barber
08-27-2013, 07:28 PM
Thanks for all advice , I become aware of my mistakes , see what should be adopt and avoid in next trading.

Amelia Price
09-18-2013, 04:55 PM
i heard it many days ago and have a strong believe that failure is the pillar of success.so of course failure motivates me.no doubt about it

Master Forex IB
10-12-2013, 01:54 PM
Failure is piller to success for thise who eant to learn from their mistakes .They improve their trading day by day by cover the failures slowly . If traders are disappoitted and leave hard work they will not go ahead towards success. Success is with patience and regular work with forex.

nanypurwanti
10-12-2013, 02:03 PM
Failure is piller to success for thise who eant to learn from their mistakes .They improve their trading day by day by cover the failures slowly . If traders are disappoitted and leave hard work they will not go ahead towards success. Success is with patience and regular work with forex.

I think so,,,Just hard worker that could met their goal..

Master Forex IB
10-15-2013, 05:19 PM
The people who are hard worker try their best to overcome their failures.They think of mistakes positively to learn alesson .This thing motivatesthemto do better next time. Continuous hard work will make them a good trader one day they will findsolutions for failure.

sorafx
10-19-2013, 09:14 AM
The people who are hard worker try their best to overcome their failures.They think of mistakes positively to learn alesson .This thing motivatesthemto do better next time. Continuous hard work will make them a good trader one day they will findsolutions for failure.

Only experience that could make someone become more smart and leave their mistake..

samuel_p80
10-27-2013, 05:00 AM
I've got experienced when trade using Liteforex as the tool of trade. I almost got MC, and i became stress. then I have motivation and can reach and cover my loses there...
I lite trading in Liteforex..

Master Forex IB
11-03-2013, 03:00 PM
Experience is valueable with every type of account you use for trading . My first expereince was with demo account that give me understanding of fotrex market and the way of trading. After it I seemy skill in real account and find many mistakes that make me motivated to do more good work.

UMOFX AIR
03-23-2014, 01:15 PM
Yes it motivates me a lot .I awaken the emotion of learning more to do good with my mistakes. In start we face failure , not be hope less no one can get success in first jump Review your trading and try to do best in future if traders are really interested to remain in touch with forex business.

celcius
10-28-2014, 01:22 PM
Experience is valueable with every type of account you use for trading . My first expereince was with demo account that give me understanding of fotrex market and the way of trading. After it I seemy skill in real account and find many mistakes that make me motivated to do more good work.

Experience is really best teacher for us..
No one can change this.

orni308
10-29-2014, 12:59 PM
in the beginning , failure is of course a set back, but when you learn from those mistakes, it turns out to be great teacher.

sorafx
11-04-2014, 11:05 AM
Only the one who able to learning their own mistakes that would be the best trader.
Do you agree with this??

fxapex
11-24-2014, 01:35 PM
When you loose in forex it takes out a lot of confidence in you, but you should keep a bit of patience and learn from that mistake and try not to repeat it in future, and keep on trading. It will take while but after sometime you can eliminate most of your common mistakes.

pennycruze
01-18-2015, 04:56 PM
my own common mistake is not fully understanding and implementing risk-reward. at my first year trading I got too excited and end up using big leverage at small amount deposit with some retail brokers. instead of using minimum lot at 100 usd deposit, I often use 0.1 even much bigger per trade. but i'm not use such method anymore with my tickmill ECN account, i keep using 0.01 micro lot for each 500 usd deposit amount. it's always a price for lesson to be learn anyway. no regret keep advancing and it's always motivate me to get more close into a profesional trader.

casama
01-30-2015, 06:37 AM
yes . we need understand about ourself. each trader should be carefull with them mind. we can pay money for it. idea can bring money but it can take money from your account. i trade when i know who i am. where i am

celcius
02-21-2015, 04:13 PM
I think that each person will learn from its mistake and make it as motivation for them self to being more better.

shade
02-23-2015, 06:47 AM
If you are new to the forex market, dont scalp on your first live account (many rookie trader use this method at their 1st trading year). The complicated nature of these approaches means that rookie traders can get eaten alive, so only veteran traders with nerves of steel should consider playing the currency exchange market at any scale.
unless you're know what you're doing scalping method are dangerous strategies to start out. perhaps many new traders willing to double their account overnight. the most important thing is, not all brokers are capable to handle scalping strategies, I've done these research for years among many brokers, and my last discovery are with Tickmill ECN account, it apprear give better result among other brokers I held with, while implementing exact same trading strategies (EA).

tonyaja
05-25-2015, 04:29 PM
I think that each person will learn from its mistake and make it as motivation for them self to being more better.

yes of course, but some people do not able to learn from their mistakes. so, what do you think about this and how to solve this?

trader
05-27-2015, 06:07 AM
we usually lose by some motivate. it is a over confident, hurry... i think we will control with it. special we trade without plan.

orni308
05-27-2015, 05:03 PM
Facing loss is a tuff ask and yes it sometime demoralize you but a trader must not loose his composure and try to find solutions to avoid such loss.

danny
05-30-2015, 03:41 PM
when we lose money .we usually lose our emotion. we will mistake in this time. this is reason for my loss. i want control it. now i can advoid some reason . this is my experience. we can learn when we mistake

HundEr
06-16-2015, 10:53 AM
To be honest I feel frustrated when I lose money even if losses are not to big. I try to analyze what I did wrong and take my mistake into account next time, but I can't say failure motivates me.

sorafx
07-19-2015, 05:19 AM
lol...
You must able to learn from your loses guys. take and sort why the way you loss.
It would teach you become professional trader

TigerFX
08-01-2015, 12:16 PM
Failure motivate me more than a successful trade, why? because a winner trade can make me more confident which can disturb my money management in my next trade where as a failure trade will make me more cautious in my next trade.

orni308
08-02-2015, 04:58 PM
Well its a very bad feeling when you loose, but you should try hard to get back and place trades, its very tough to stay confident but in situation you have to mold yourself.

HoneyLilly
09-01-2015, 06:37 AM
its hard to get failed but it is a motivation to me. yeah i lost kinda 1000 usd and i am still trying to trade really good. im just a pupil in the fx world and my goal is 3000 usd

sumarjan
09-08-2015, 01:32 PM
its hard to get failed but it is a motivation to me. yeah i lost kinda 1000 usd and i am still trying to trade really good. im just a pupil in the fx world and my goal is 3000 usd

Ohh God, $1000 is huge money sir..
How do you trade in forex, using what kind of trading strategy??
Me, I can Wd each month $200 from Liteforex using scalping EA in cent account

HoneyLilly
09-17-2015, 05:43 AM
Ohh God, $1000 is huge money sir..
How do you trade in forex, using what kind of trading strategy??
Me, I can Wd each month $200 from Liteforex using scalping EA in cent account

mam not sir))

no scalping in my life..
i cant tell you the only strategy i use as i deposit this amount (yeah it is really a big amount) to learn with it and try different strategies.
if you wanna ask me smth about demo account im gonna answer you that demo teaches you just to understand HOW to trade but not to earn money at all!
what can i get by demo? nothing. what get i lose by demo? nothing
how can i learn to live in forex? only real trading account

u must be happy to wd 200 usd every month but u scalp what i cant accept.
i trade with freshforex and do not wd too much. but it is up to me! what is the broker's role in my fairy tale? answering the questions, hepling in any situation and offering maximum security of my account. Freshforex copes with it so far and i will cope with my trading as well.

HoneyLilly
09-17-2015, 05:43 AM
and thanks gosh i can afford to loose)))

tuster
09-25-2015, 08:30 AM
It is difficult to say how much they can motivate, I had six months as a no profit period, had no motivation. Then I moved to freshfores, and the situation has changed, during more than a month I' ve been trading with profit and with break-even result. I think it is not motivation, these are terms of trade.

Larius
10-17-2015, 10:06 AM
Some times i lose part of my money on forex, but everey day i try to open new orders. My trading is profitabe despite the fact that there is a some deal is unprofitable

Annette Ashley
03-10-2016, 07:31 PM
HoneyLilly, I am just guessing that no one can afford it unless you are from Bill Gate sort of family where playing means throwing away money. I can afford to lose and the biggest reason for this is OctaFX, I get 15 dollars profits per lot size trade through the rebate program that?s available for all. I am able to trade really aggressively and that?s because of the feature that I told above while as per rest I obviously can?t afford to lose regularly.

bulalakaw
04-11-2016, 10:14 AM
yeah, we all will go through some failures in forex trading, even i blew some accounts with hotforex when i first started, newbie mistakes, and here i am still trading and doing better, not perfect but its better than how i was doing 3 years ago.

Umar Khalifa
05-03-2016, 07:47 AM
In Forex trading, by and large traders in particularly the newcomers are loser due to lack of most powerful analyzing trade knowledge that is very supportive to predict the real faction of this market with certainly. that?s why, in my trading career, I have chosen Trade12 which for all time make sure best trading environment for acquiring proper trading knowledge by providing exclusive educational facilities with free video tutorial.

Hilry Canes
05-12-2016, 12:24 AM
Sometimes, I will get very angry and upset with failures, but then I realized life is not easy for anyone, so we shouldn’t be giving up and must give proper fight. I am just doing that and lucky, I have been able to make great profits consistently which is also helped by the factor that my broker is OctaFX, it’s absolutely terrific company and have endless benefits which allows us to perform well and is the biggest motivation reason for me.

blueberry
05-13-2016, 09:27 AM
Many traders fail in the forex trading business in start but if they let go off their losses and learn from their mistakes can get motivated to achieve their goals.

William Wesson
02-28-2020, 04:08 PM
Investing on forex market you will need to think of everything such as risk management, money management and so on. But without a broker it is impossible. I have a broker named ForexChief. It is very helpful and positive with every attempt. As on the part of leverage It is very good because It offers very good leverage. Its offers demo accounts to the customer to get used to the forex trade programmers. It also helps to make things very easier to the traders. It supplies current news and views to the traders so that they might not be hampered. It gives full priority to the traders. Having this kind of broker, traders really nothing to worried about. It helps me surviving this market for a long period of time.

Ashley Mallett
03-04-2020, 12:41 PM
Most people have failed in forex market because of no knowledge about forex. In spite of that there are so many reasons to fail in the forex market. Some of them are Emotionally trading in the forex market, greediness, lack of knowledge, choosing wrong decisions, choosing wrong broker etc. Most of the traders fail in forex market because of choosing wrong broker. Brokers play an important role in successful trading. I am trading with TP Global FX. They help me to make profit consistently by giving low spreads and high leverage. I love their trading strategy and all facilities they are given.