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Free Articles
I have a section on my site that contains great article.
They are free and I made sure they are to be used to publish on websites. You can find it under "Resources" on www.operarockhouse.co.za
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It is all about Psychology! To win or lose
It is all about psychology!
Scratch your head. Try to remember your feelings when you put your last order? Your feelings and thoughts when the market went against you? And your feelings when you closed your position. Many traders trade using technical analysis, or fundamentals, or even base their trades on politics, insiders tips, etc... But most of them have experienced, or experience every time the feeling described above. The majority of traders even if they based their trades on true mathematical equations, trends, analysis, yet as soon as they enter the market they lose control of their selves and fall victims for their emotions. This causes losses and losses. Trading is all about psychology. You need to be awake! You need to put all your feelings away. You need to open up your brain and eyes in order to understand the market behavior and recognize real opportunities to enter the market. Regards yanni Welcome to My Fx Report - Live Forex Trading . |
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Hi
Most sites that offer advice on succeeding in the Forex market are going to point out to you that the biggest enemy you face is not the market itself, but rather your own emotions. This is true in just about any activity that involves financial risk. It is really not all that different from playing poker. If you go into it afraid of losing, then most likely you are going to lose. It is pretty much accepted that most human beings have an innate desire to prosper. This desire is what makes failure so frightening. Regardless of how you make your decisions you need to proceed with confidence tempered with caution. Whether you use technical analysis or fundamental analysis or flip a coin, it really doesn't matter as much as developing your own investment strategy, and proceeding with it until you are sure it is working or failing. Do not take council of your fears, and bounce around with no pattern, overreacting to every setback. Nor should you grow overconfident and let a small temporary success lead you into foolishness. Remain constant and stick with your plan. The Forex market has some peculiar emotional landmines that you need to be aware of, and need to avoid. You are dealing with the currency of foreign countries and how they are going to be valued against the currency of other countries, one of which is your own country. It is important to keep things in perspective. If you find yourself rooting for the USA and booing Japan like they are your alma mater's football team and its biggest rival, then you should not be investing in this market, but saving for tickets to the next Olympic Games. Investment of any kind takes self control, and emotional stability, and Forex is no exception.
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I always heard that Trading in the zone is a good book.. though i don't have one yet but i always heard good comments about it..
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FX Trading Last edited by spotbabe; 12-08-2007 at 01:38 AM. |
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LinkBack to this Thread: http://www.forex-tsd.com/documentation/1373-psychology-trading-books.html
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| Posted By | For | Type | Date | |
| Trading in the Zone: Maximizing ... - Google Book Search | This thread | Refback | 02-02-2008 10:04 AM | |
| Psychology Forum Section? | This thread | Refback | 11-27-2007 10:43 PM | |
| Psychology Forum Section? | This thread | Refback | 11-27-2007 12:10 PM | |
| Psychology Forum Section? | This thread | Refback | 11-27-2007 01:23 AM | |
| Psychology Forum Section? | This thread | Refback | 11-26-2007 04:41 AM | |
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