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Psychology of Trading

The psychology of trading is almost certainly the most neglected area of trader education. 

There are a number of reasons for this, but perhaps the most important is the modern day need to Have It All Now!

Most traders think it’s a matter of pressing the right button at the right time and hey presto, profits in the bank! Nothing could be further from the truth.

This is the reason 90% of traders fail.

If you want to get an edge over those 90% who fail, and not be one of them yourself, educate yourself about forex markets, and especially about your own psychology.

In respect of the forgoing, you can make the following observations:

·         Most traders don’t have the patience to learn their trade

·         Most traders don’t have the patience to define their Trader Type

·         Most traders don’t have the patience, or indeed the courage, to have a good hard look at their own personality with the aim of discovering its faults and weaknesses

·         Most traders don’t take the time to discover the approach or strategy or system that is most suited to them

·         And of course, last but definitely not least, and because of all the above: MOST TRADERS FAIL!

 

Just approaching the business of trading with an open, honest, humble and enquiring mindset will lead you into more personal growth than a thousand weekend new age workshops will ever do, I guarantee it!

And I further guarantee that if you combine such an attitude with a study of the psychology of trading, you will be miles ahead of the overwhelming majority of forex traders!

Deepak, Madurai

A successful trader will watch and wait for the right time to gain profit. Once he enters a trade he will be patient to watch because he would have chosen the right lot.


Adrilean, Dubai

All Fx and Bo are scams. Dont waste your time


 
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