Hello Members;
It's a fact that psychology plays a huge role in Forex trading. But how do we as newbies get around this problem? It's not just a matter of staying the course and being strong during periods of draw-downs but also how you react with winning streaks.
This is my personal experience. I was able to turn $1,240.00 into over $30,000 in less than a month using Scalping. "Hey, I am damn good. I can reach $90,000 within a couple of months", was what I said to myself. My confidence went sky-high and I started risking bigger and bigger position sizes that had no bearing with my account. I was also moving my stops away to avoid being hit. It didn't take too long before the account was blown to pieces.
Members, please search for books on trading psychology to read. It's the only way that can transform you. I have done that myself.
Happy Trading, and stay focused.
CommanderZerro.