PAY ATTENTION TO THE REALITY OF PRICE ACTION
While it's important to see stops as a measure of risk control, it's different than controlling the risk by sizing the position or even managing an open position. Many people believe that knowing where to place protective stops constitutes money management, perhaps because of lack of information or unwillingness to delve into issues related to managing risk.
UNDERSTANDING WHY patience is important in FOREX trading is totally different from making it a practice. Some traders are so self-confident in their trading decisions that they forget to follow their trading plan and keep emotions out of the way. This could be a big waste on what could have been a great start, or a long trading career. To stay away from these errors it is important to always practice patience daily. Make it a habit to motivate yourself, especially if you had just recently been through a losing trade. Motivation is key in getting back up and being in the right mindset.