Announcement

Collapse

Rules

0. Abide the common sense.
1. No warez or links leading to warez.
2. No offensive language.
3. No flood.
4. No meaningless posting.
5. No illegal activities.
6. Absolutely no SPAM.
7. No article reposting (don't repost articles that you find on other sites).
8. No whole posts in the increased or decreased font size.
9. Forex signals without detailed explanations are allowed only in the Forex Signals subforum.
10. Absolutely no commercial content/links in any subforums except for Advertisements.
11. Highlighting MQL4 and MQL5 code is encouraged. You won't get infraction if you don't highlight it, but it's for your own good .
12. Links to trading performance tracking websites (myfxbook.com, mt4i.com, etc.) are not allowed unless the EA/strategy is shared along with the link or unless they are completely necessary to prove some vital point in a discussion.
13. Advertisement of any .ex4/.ex5 decompilation services is strictly prohibited in all subforums.

By using this forum you confirm that you will follow these rules and that your membership can be limited or even terminated if you break them.
See more
See less

The Psychology of Forex Trading

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • The Psychology of Forex Trading

    Most of the people who engage in Forex trading lose. Indeed, the industry estimates that more traders lose than profit. And they lose for a reason. They have not properly prepared themselves with a Forex education and the proper mindset to be a successful trader. In the cold cruel world of Forex trading, you are on your own. It's you against the market. All over the Internet, you can find so called experts touting Forex trading systems with extraordinary sure win claims. If it was so easy, everyone would be a millionaire. The true winners are the ones who have taken the time and effort to carefully devise currency trading strategies that have been thoroughly tested beforehand to produce positive successful results.

    Listen to Yourself

    You are the only one that can make yourself successful. Everyone is trying to sell some kind of system to fools, who think they're going to get rich instantaneously. It just doesn't happen that way. You can use systems and trading tools to have successful results, but there is no such thing as a free lunch. Only through hard work on your part will you be able to develop Forex trading strategies that produce the results that you desire. You should begin your forex education and training with Forex experts, while building your skill set to ultimately create your own Forex trading system. Forex trading is like any other business. To be a successful forex trader, you need to educate yourself. Great forex traders become better and better because they continue learning. This gives them the edge they need to stay on top of their game so they can go on and become even better traders.

    Make Your Forex Trading System Rules

    Everyone lives in a society based on rules that must be followed. In the Forex trading markets, except for some simple market procedures and practices, there are basically no rules or structures that govern your operation. You have to take the responsibility for all your actions. If you win, it's because of you. If you lose, it's not because of the broker, a market, or the government. It's because of you. You have to develop the rules and structure to successfully exploit the possibilities that are available in Forex trading.

    If you are an individual who has a deep confidence in his or her personal abilities, with the discipline to be able to work hard to develop the currency trading strategies necessary for a Forex trading system, then Forex trading is for you. If you have the mindset to be an individual away from the crowd, with no one telling you the rules or laws that need to be obeyed, then you should be part of the minority that enjoys spectacular Forex trading success. Your profit as a successful forex trader can be extraordinary and if you know what you're doing and have the discipline to follow your rules of trading, there's no limit to your profit potential.
Working...
X