Thursday, 29 August 2013

Forex Psychology

Trading the Forex Market can be tough.  And I'm not talking about fundamentals or technicals.   I'm talking about all the roadblocks along the way.  Friends, family, people in general.   Many people are scared of the Financial Market.   Many more are scared it's gambling.  And your loved ones are probably afraid you will lose your money.   All that negativity doesn't help much.
And the ones that support you, may at any time get concerned about you.  About your trading.  Why?  Because they care. Because they don't understand.   Lets face it, friends and family can be very demotivating at times. 
Then there is you.  Trading psychology can really turn you upside down, make you second guess your trades, your strategy, your system.    While you might have nerves of steels now and aren't worried about 100 pip swings, or making a few bad trades, losing a little bit of money, the day can and most likely will come where your nerves of steel end up wavering over to the dark side.

Sometimes the best approach to trading Forex is to surround yourself with positive people, keep busy with activities, preferably sports, and keep your trading to yourself.  Well for the most part.  Sometimes it's nice to confide into someone about your trading.  Like a coach.   A mentor.    Best thing I have ever done is take on a coach to help me get to the next level.  If you get the chance, I highly recommend you do!  And if you are serious about getting a Forex Coach then be sure to contact me.