In foreign exchange trading, traders tend to be over confident.
Once you are over confident, the market will prove that you are wrong.
You may win 1000 times and then the market just needs one time to wipe out your account.
So in trading even you win a lot, do not feel over confident.
Withdraw out the money and enjoy it or be strict on your money management.
As a foreign exchange trading trader, lack of emotional control will also wipe out your whole account.
When trader fails to control their emotion, they tend to enter the trade even there is no any opportunity to enter.
Traders tend to make more mistakes if they keep on looking at the charts.
This is where trader need to control their emotion to avoid a big loss.
Trading plan also plays important role in trading.
Every pioneer trader should have a good trading plan.
Plan your Currency trading time.
List down when you enter the trade, your stop loss/ take profits and why you enter the trade.
At the end of the trade, state downs also why you deserve to win the trade or why you lose the trade.
Currency trading traders also need to have a right attitude in trading.
Wrong attitude will mess up your whole trading life and trading plan.
And you must be discipline in yourself in term of trading.
Set all your goals and targets and stick to it.
Do not attempt to change it at all.
From my experience in trading, once you place a trade, leave your computer.
Have a walk or play games.
Then return back and analyze your trade.