I've got a little trick you can do to tell who will succeed in trading the forex market and who will fail. The easy way is to just look at the trader who is always making winning trades. But that's not being honest about it, because everybody has losing trades. Look at the traders when that happens.
How do they react? If a trader is completely flustered and fuming over his loss, or if the trader is yelling angrily at the screen as if it was the fault of their charts, then chances are they won't see much long term success in the forex market. If they are even keeled after their loss, then I like their chances of success.
People never take the time to work on their emotions as forex traders. I don't care if they spend all their time learning every intricacy of the forex market, so they are the greatest technical analyst in the world, it means nothing if they can't control their emotions, both when they are winning or losing. Nobody likes a sore winner or sore loser.
Think about most professional golfers. How many of them do you see throwing a fit over a missed shot or if they are going through a bad patch? Why do you think that is?
First of all, they are professionals and they know to act professionally. But more importantly, they know that it does them no good. All the hooting and hollering in the world isn't going to change the past. I can't think of any professional golfer who acts like certain traders do when they take a loss.
If you want to be seen as a professional forex trader and make a living from it, you are going to start acting like it. If you take a bad loss, don't sulk because its only going to affect your future trades. Let it go. You are not the only one who takes losses. You can have come solace in knowing that fact.
Listen, if you can continually take two steps forward and one step back as a forex trader, you'll be so much further along than the 95% of forex traders that are out there right now. This is not a sprint. We are all running a marathon. It makes no difference where you begin. It only matters where you end up, and the journey it takes to get there.
Article Source: http://EzineArticles.com/6556257
How do they react? If a trader is completely flustered and fuming over his loss, or if the trader is yelling angrily at the screen as if it was the fault of their charts, then chances are they won't see much long term success in the forex market. If they are even keeled after their loss, then I like their chances of success.
People never take the time to work on their emotions as forex traders. I don't care if they spend all their time learning every intricacy of the forex market, so they are the greatest technical analyst in the world, it means nothing if they can't control their emotions, both when they are winning or losing. Nobody likes a sore winner or sore loser.
Think about most professional golfers. How many of them do you see throwing a fit over a missed shot or if they are going through a bad patch? Why do you think that is?
First of all, they are professionals and they know to act professionally. But more importantly, they know that it does them no good. All the hooting and hollering in the world isn't going to change the past. I can't think of any professional golfer who acts like certain traders do when they take a loss.
If you want to be seen as a professional forex trader and make a living from it, you are going to start acting like it. If you take a bad loss, don't sulk because its only going to affect your future trades. Let it go. You are not the only one who takes losses. You can have come solace in knowing that fact.
Listen, if you can continually take two steps forward and one step back as a forex trader, you'll be so much further along than the 95% of forex traders that are out there right now. This is not a sprint. We are all running a marathon. It makes no difference where you begin. It only matters where you end up, and the journey it takes to get there.
Article Source: http://EzineArticles.com/6556257
