The Psychology Of Trading Forex!
The psychology of trading is a broad topic and has been debated for decades. So in this blog, I will be sharing my views and experiences and I would not be offended in any way if you have a different opinion.
I’ll start with this statement: “It is not what the market does that makes you a loser or a winner in trading. It is what you do that makes you a profitable trader or a losing trader. It is your approach, your thinking and ultimately your actions that changes everything in your trading account.”
The market will always be the market, whether you place a trade or not. I respect any trader whose risk management is a priority, who risks a certain percentage or amount per trade so as to protect their account should anything go wrong.
This is how I deal with losses and drawdowns. I stick to my risk management. I would even reduce my risk so that I do not continue digging a bigger hole in my account when my strategy comes to a point of taking losses. I stick to my discipline. I do not take trades all over the place with the hopes of recouping the money I lost. I keep my cool and trade consistently by following my strategy rules.
I keep believing in myself and in my strategy. I do not fiddle with my trades because that can lead to closing trades prematurely out of fear, only to see the market move in my direction afterwards. This type of behaviour is heavily destructive! You do not want to find yourself there. Trust me I know!
In closing, discipline is the most valuable character every trader needs to possess because it is the one that will help you overcome a lot of trading challenges that you may face against the charts. Patience is another second most important character that every trader should possess because it will take you a long way in trading. This is because trading is not and definitely not a get rich quick vibe, LOL!
Please share your trading experiences when it comes to the psychology of trading in the comments section below!
With that said, I would like to wish you the best in your trading! Otherwise I’m very active on the socials!
Insta: shela17_martin / premiumstructureforex
Facebook: shela martin / premiumstructureforex
