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Psychology when trading forex

Psychology when trading forex
It would seem that it is easier to trade in the forex market. There are only two options, either down or up, no other is given. But according to statistics, 95% of traders lose money and leave the market forever. But why, even a lottery gives less chances for earning than the forex market.
Communicating with novice and experienced traders, analyzing the situation on your own, studying a lot of literature, observing the work, you come to one very interesting fact. Everything is very simple, stable for a long time and constantly psychology prevents traders of all levels from making money. Naturally, everyone knows about this, everyone has heard that trading is impossible without psychology. But it doesn't seem to you that very little attention is paid to this trading factor. What is put in the first place in trading, correctly, is a trading strategy.
Psychology when trading forex

Psychology when trading forex

All traders in the world are looking for the golden grail, a trading system that will consistently and consistently bring profit to the market. And only then everyone thinks about the psychological side of the trade issue. It seems to me that the opposite is true, if a trader can not follow the system, not follow any rules, but only control himself and earn a few dollars. If a trader is not subject to fear, greed, nervousness, the desire to constantly be in the market, that is, psychologically he is ready to work this way for a very long time. The result of this is that we have a very stable earning trader, which is what every person who comes to the forex market dreams of. And let's look at the other side of the coin.
Let's imagine that you have a great trading system that works and brings the trader a good monthly profit, but there are no basic psychological issues. That is, it enters or exits the market ahead of time, does not hold a deal well, does not always follow the rules of the system. What will happen in the end? That's right, a losing trader with a good trading system. It seems to me that before diving into the abyss of the Forex market, going over a lot of strategies, testing trading robots, creating their own trading systems, a novice trader needs to take a very serious look at himself from the outside. Give yourself an honest assessment, determine what he can and cannot do, what he is capable of, what moral and emotional pain he can withstand, determine his level of attention and concentration.
And only after analyzing your main personal psychological components, think about trading in the forex market. In no case should you do the opposite. Such a model of behavior, a psychological trait of trading, at the beginning of market development, gives more chances for successful work in the Forex market.

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