Psychology

Psychology

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In days gone by much emphasis was put on a trader’s depth of knowledge and their technical ability. This was seen as a key...

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One of the biggest challenges in financial trading is keeping our emotional state of mind in check and preventing it from following the path of least resistance.

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Trading is tiring and stressful. It requires a lot of concentration and precise decision making. Lowering stress can improve your performance.

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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.

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Demo accounts are where most people learn how to survive the ups and downs of trading financial markets. However it’s useful to keep in mind the differences between demo trading and live trading

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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.

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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

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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.

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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.