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The main point here is how much you know yourself so that you can deal with your flaws and if you are able to profit from your strong points, as well as controlling your weakness points, that has a lot to do with how a successful trader you are going to be. By this will protect you from wrong actions or decisions when it comes to managing a trade.
Balancing between Trading and psychology is hard. Psychological essences, such as performance anxiety, can interfere with clear-headed decision-making about markets. Similarly, poor trading practices – such as taking on too much risk with excessive size – can magnify the normal stresses of the marketplace. Sometimes it is difficult to separate chicken and egg. Many traders put their money at risk without a demonstrable edge. It is difficult to imagine such trading *not* generating frustration over time. Other traders ground themselves in solid methods, but these may not fit their talents, skills, or personalities. A very short-term, aggressive method of scalping markets, for instance, may work fine on paper, but prove completely unworkable – and stressful – for a highly analytical, risk-averse trader.
Trading in the Forex market is about how you are going to win any trader who’s been in the Forex market long enough will tell you that psychology will affect your performance while trading and how to deal with market ,if you keep your eye on the way that psychology effects.
It doesn’t take a genius to understand that any business have its ups and downs so you have to take the right decisions because it will have its impact on your mind .Few people take into account all the various levels of mind games that motivate the market, though. If you keep your eye on the way that psychology influences others – including the mass psychology of the people that use the currency on a daily basis – but neglect to know what moves you, you’re going to end up hurting your own position. The best Forex coaches will tell you that before you can really become a successful trader, you have to know yourself and the triggers that influence you. Knowing those will help you overcome them or use them. Are you saying ‘Huh?” about now? Believe me, I understand. I felt the same way the first time that someone tried to explain how the mind games we play with ourselves influence the trades and decisions that we make. Let me break it down into more manageable pieces for you.
Anything involving winning or losing large sums of money becomes emotionally charged.
Do you have a hard time in trading without losing?
Do you feel bad when the markets become volatile?
Are you doubting your trading system after a few losing traders?
If so you are not alone
Studies show that 90% of our mind’s power is housed in the subconscious mind and is responsible for our behaviors, habits, and performance.
Winning traders know this.
That 90% can either work for you or against you.
You have how winners make sure that the 90% is working for them!
So when it comes to trading, one of the most neglected subjects are those dealing with trading psychology? Most traders spend days, months and even years trying to find the right system. But having a system is just part of the game. Don’t get us wrong, it is very important to have a system that perfectly suits the trader…
So this is some steps that will help you through
You will face a lot of situations, that you will not find in any other field, we get rewarded when we succeed and sad when we lose! Could you image that anyone in one moment receive significant accomplishment bonus and in the next quarter getting money taken from you for missing performance target? I don’t think so!
Forex traders bear this, that’s why we are what you doing will carry you through the tough times that are part of your trading business. Asked yourself why you trade currencies and would you still do it if Forex were not potentially lucrative? Your answers will be quite revealing. You’ve got to feel your passion for trading!
A lot of people that enter the Forex market with the idea of getting rich without making any effort to be good in trading and jump from strategy to strategy waiting for miracle to happen and at the end they quiet while blaming everything else, except what really happened.
There is news for you the miracle will happen if you get serious in your Forex education.
The Forex market is simple you have to image that there is another trader on the other side that are always doing his best. Pushing himself beyond the point where everyone stop at, to be successful you have to do the same thing, this is the time where you examine your mind.
Start your Forex education and gain the knowledge needed to wide your weakness.
You have to know that the trading is 80% mental so it’s important to Forex experience through your education
Losing traders see loss as failure. Winning traders see loss as learning.
You have to believe in what you do and don’t ever give up because with every loss you eliminate a possibility and finally you will find the possibility that works for you the best.
When you lose a trade that will develop you to a successful trader without determination you will not be able to develop your self
Always take the time to value yourself and you’re trading,
The main issue that traders don’t take trading serious, you have to know the professional psychology because if you don’t you will make wrong decisions and lose money on a consistent basis, Don’t ever stop learning If you think you know everything about the Forex market you are wrong, the successful trader is a lifelong student who never stop learning, so always be courageous and learn how to face your fears when you are always dealing with unpredictable investment.
Finally hoping that the above suggestions are obvious!
Perhaps, but many of us take a wrong turn somewhere and need some simple advice to get us back on track. In order to stay on top of your game, you will need to constantly reinvent yourself, as there is no world that calls for flexibility more than the Forex market.
Risk Warning: Trading Forex is risky
Alnafay Capital. specializes in providing traders with high quality online trading services. With a team of dedicated financial specialists and technical support personnel, Alnafay Capital. has established itself as an industry leader.