Do You Have Control Of Your Emotions?

The current market conditions can undoubtedly play with your emotions. After a long bull run, it was easy just to sit back and let your trades run and book profits, but that's all changed recently. We are now in a market that is making significant violent swings from day to day, and that can cause a bit of trepidation and doubt, but of all the "tools" available to the trader, none is more important than his or her mind!

A lack of mental discipline can lead to significant losses in the marketplace and your portfolio. Why else would traders with years of experience and reliable systems fail to be consistent winners?

If you show an 8-year-old child a chart and they will tell you if a market is going up or down by simple observation. 80% or 90% of all traders end up as losers. The market doesn't beat you; you beat yourself! You are your own worst enemy! Continue reading "Do You Have Control Of Your Emotions?"

Your Trading Business: Learn to Keep it Emotion Free

Forex trading successfully involves careful analyzing of data that is changing 24/7. This is not the forum for split-second decisions nor blind calls. You need to be consistently working a well thought out strategy that has been derived from real life data. If you suddenly find that you don’t know why have entered a trade, then you have most likely fallen victim to emotional trading.

Learning to control your emotions is a pivotal point in every young trader’s career. Once you are able to differentiate between trading from the gut and trading with sense, the losses stop and the gains begin.
To help you reach that point sooner, there are a few strategies you can employ: Continue reading "Your Trading Business: Learn to Keep it Emotion Free"