Psychology

Psychology

0

It’s often said that how you deal with your first major loss will define you as a trader. Which route you end up on will depend on your personality type.

0

You’ve tested your trading strategy for a few months with “practice money” and it is now showing steady and promising returns. At this point, you may have decided it’s time to move to a real money account. This transfer process might seem straightforward and simply an administrative step.

2

Drawdown happens when losses in a trading account outweigh profits over a certain period. If you trade in any kind of volatile instrument, some drawdown is inevitable and is one of the risks associated with putting your money into financial markets.

0

Over trading is a common trap that new traders fall in to. If you’re an over active trader it can have dire consequences for your wealth.

Right mental attitude

1

Even the best trading systems lose money unless they are executed mechanically and without emotion. Staying mentally focused is one of the most difficult skills for new forex traders.

1

Many people try Forex trading, but not everyone becomes a trading mogul. Let’s take a look at what separates the best from those who give up on a loss.