Forex Trading – 5 Successful FX Trading Should’Ve Been Somewhat Boring

forex trading Like planning to work any day, it must essentially be a non emotional event if you are doing it right. So here’s a question.

You don’t get super emotional at work any day do you? While having a trading plan, and suchlike, you aren’t intending to experience the high highs and low lows that many amateur traders experience on the way to blowing out their trading accounts, as a natural result of doing the things that it requires to trade successfully, like being disciplined. With that said, since everyone just assumes it’s super awesome and filled with sports cars and a fast lifestyle, you probably won’t hear that a consistently profitable trader’s job is boring.

Among the biggest ‘secrets’ of trading is that percent returns don’t really matter.

The point is this…percents don’t actually mean anything in the trading world being that they are relative to isn’t actually a relevant measure of trading performance as long as it could mean some amateur trader got lucky a few times and turned his $ 300 dollar account into a $ 600 account, or it could mean a professional trader followed his plan to the T and banged out a nice return at year’s end, in addition doubling his account. With that said, think about it, if someone tells you they made 100 on their account last year, what does that really mean? Seriously. Since they’ve taken plenty of benefits out of the account, they withdrawal money regularly and live off the profits… their account balance is probably not a reflection of the cumulative gains they have made for that year. Basically, rather they are trading for profit on a monthtomonth basis, Professional traders are not typically reporting annual performance to a number of share holders.

Perhaps a good method explain why many traders lose money over the ‘long run’ in the markets is as they put one issue you should come to grips with early on in your trading career is that it’s YOUR fault if you are losing money, not your brokers, not your trading buddy who told you to buy the EURUSD as I’m sure it’s going up…it’s your fault if you lose money. Mostly there’re look for to talk about. Especially, people striving to sell you expensive trading systems, and identical people who look for to share with you guys 7 things that noone ever told me when I began trading, and that I didn’t read on any Forex website. Perhaps amongst the biggest misconceptions that most people seem to have about professional traders is that they are ultra smart IvyLeague mathwiz’s who have some super human ability to earn money in the markets. While being a flawless trader is really more of a ‘psychologybased’ skill than a technical or numbers based skill like many people think, in reality.

Like myself, virtually, loads of successful traders never even went to college or never finished, being that being a flawless trader takes a skill set that isn’t taught in most schools, This is really not the case. You don’t need a college degree to be a profitable trader, and you don’t need to understand calculus. Whenever leaving behind the higher probability ones, over the long run your ability to use discretion in finding a high probabiltiy price action trading strategy is preparing to get more refined and you’ll naturally filter out way more potential trade setups, you will earn money faster by trading less frequently. I’m sure that the point is that it requires a conscious effort to do this, you can’t just think you’re planning to ‘run and gun’ in the markets and have no plan or no logic behind what you’re doing. You probably aren’t planning to hear this one from anyone in the mainstream Forex world either.

Most important tool in your trading arsenal is you, or more specifically your brain, not trading software, indicators, or ‘multi screen’ trading rooms.

You gonna be about 80percent closer to making consistent money in the market, your mental mistakes that are causing you to lose money in the markets.

forex trading You will have everything you should become a perfect trader, I’d say if you combine that selfmastery with a highprobability trading strategy like price action. We have really only lived in the age of computers and ‘moderntechnology’ for about 50 years or so, and electronic trading on the internet is much newer than that. Consequently, fast forward thousands of years and here we are in the 21st century sitting at our computers striving to multiply our hardearned money by pushing buttons.

Point is that our brains are basically sending us signals as if we are cavemen while we are trading, and so it’s the reason why we immediately jump back into the market after a loss or why we take bigger risks after we hit a big winner. In reality account size and returns are very arbitrary in professional retail trading, the most important thing is overall risk reward…as in how much you risked against how much you gained, and that will be the truest measure of performance and a more genuine benchmark to compare one trader to another. Because we know that we have to work to make that food back AND we are still hungry, when we lose that food we get emotional.

Our brains basically behave as if someone or some animal is all about to steal all the food we just worked really almost impossible to kill and bring back to the cave, when we have our real money on the line in the markets. Evolution has had a lot more time to have an effect on our more primitive ‘fight or flight’ brain areas than our more advanced brain areas which have evolved a lot more recently and are the ones we need to be good traders. CAN cash in the markets, Know what, I personally know loads of traders who do, including myself. Then the ones that I know who cash in the markets were willing to put in the hours of trial and error to get to the ‘other side’. For most traders, they come into the markets being that they think it’s an easy way to make some fast money, quit their jobs and live on the beach.

forex trading

And, these feelings are actually causing you to lose money in the markets.

The reality of trading is that it’s essentially a big paradox.

Whilst it’s OK to be passionate and enthusiastic about trading, for most traders they simply let those feelings influence their trading decisions need and need to make solid income in the markets the less likely you are to do so. Furthermore, the reality is a bit of a bit different. Oftentimes you’re emotional about it…you don’t seek for to wait 2 years and see your account grow at a respectable pace, instead you seek for to make exponential gains any week and watch your trading account make you rich, when you are excited about a trade. Most trading websites are not preparing to tell you that you really don’t need fancy trading software or multiple trading screen setups to be successful in the markets.

Instead, you have to take what the market is offering you, and if it’s not offering any good trading opportunities for a few days, or even for a week or two….THEN IT’S NOT.

You’ve got to understand what I am telling you here…which is that the real ‘work’ and skill of being a great trader lies in sitting on your hands and having a very discerning eye and good timing for when to enter and when not to enter.

If it did consequently everyone will be rich, just accept that the market isn’t preparing to provide you with a ‘highprobability’ / obvious trade setup each single day. Whilst it’s true that quite a few people are naturally a little better at trading than others, it’s also true that the habits and mindset we need to consistently pull money out of the markets isn’t something anyone is born with. Even if you manage to make a living in the markets, it’s not a 9 to 5 job and you never know for sure how much you will make any given month, plenty of individuals don’t just like this uncertainty, basically most people don’ This is why every month, Trading isn’t for everyone.

That’s not how the market works…you’ve got to trade to some cool stuff from your ability and take what gains you can get.

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