When it comes to trading, one of the most neglected subjects are those dealing with the Psychology Of Trading. Most traders spend days, months and even years trying to find the right system. But having a system is just part of the game. It is as important to understand the Psychology Of Trading and the barriers that may affect tradi decisions.
But Forex trading is about reading charts, placing a trade and making money – right? Well it’s not quite as easy as that.
In the trading environment, when you lose a trade, what is the first idea that pops up in your mind? It would probably be, “There must be something wrong with my system”, or “I knew it, I shouldn’t have taken this trade” (even when your system signaled it) “If only I did…”.
So how do you deal with the consequences of trading? This is called the Psychology Of Trading or your trading mindset.
You are not alone by any means – take a look at this…
When it comes to trading the Forex market as well as other markets, only 5% of traders achieve the ultimate goal: to be consistent in profits and the only difference is they have understood the Psychology Of trading. What is interesting though is that there is just a tiny difference between this 5% of traders and the rest of them. The top 5% grow from mistakes; mistakes are a learning experience, they learn an invaluable lesson on every single mistake made.
Deep in their minds, a mistake is one more chance to do better the next time. Success as a Forex Trader depends on a few core elements and your Psychology Of Trading is certianly one of these.
And at the end of the day, this tiny difference becomes THE big difference.
You can learn to over come any obstacles including becoming good at understanding and developing your Psychology Of Trading. I have included a chapter in my book about this subject and have a whole list of techniques which will help. I can mail them across if you want. Just add your details below so I know where to send everything and get FREE chapter of my book.
Just so you know I will never share your details as I respect your privacy.
You can also ask any questions about this topic or any other Forex related area by heading over to my web site at www.tradeforexfromhome.com and go to the Q&A section.
Great – looking forward to hearing from you.