moonchild
VIP Contributor
If you have been trading for a while, you should have come across posts, books and articles about importance of having a great mindset in forex trading, mindset will help you in controlling your emotions while trading, it is good to note that in trading, emotions plays a huge role in winning, the reason why emotions are important in trading is not far fetched because it deals with money.
To be in a good mindset you have to detach and see everything from the 3rd person, you should not feel bad when you lose a trade or miss an opportunity, these little things are what will make you impulsive, and you will end up losing your account.
Always see your loss as an opportunity to learn and get better, find out the reason why you fail and make sure it didn't happen again, you also have to detach from your winnings, after a couple of winning trades it is very easy to think you have mastered trading and you can do whatever you like, when you win, there are definitely some factors that played to your favor, seek them out and make them your allies.
Read books on mindset and make sure you take a break often.
To be in a good mindset you have to detach and see everything from the 3rd person, you should not feel bad when you lose a trade or miss an opportunity, these little things are what will make you impulsive, and you will end up losing your account.
Always see your loss as an opportunity to learn and get better, find out the reason why you fail and make sure it didn't happen again, you also have to detach from your winnings, after a couple of winning trades it is very easy to think you have mastered trading and you can do whatever you like, when you win, there are definitely some factors that played to your favor, seek them out and make them your allies.
Read books on mindset and make sure you take a break often.