Trading is more than just numbers
It seems to me that we need a little zen in the jungle of forex currency online trading. We particularly need it when it comes to one special skill. It’s a talent that is very important to successful forex trading and yet folk don’t talk about the topic very much .
The reason behind this is that it is something that many of us don’t actually like to learn about. Just the name places us off. We associate it with dark cold schoolrooms from a hundred years back.
I am going to tell you what it is if you guarantee not to stop reading. Do we have a deal? You’ll read to the end of this article and I will be able to disclose the secret word to you.
OK … It’s discipline. Or more exactly, self-control. Now, as i said we tend to associate those words with old fashioned instructional styles and even punishment. But that’s not what it is about. Find out more on trading currency .
One compendium definition of discipline is : behaviour according to established rules. Applying this to the foreign exchange markets, it suggests trading according to a longtime system, and not deviating from that system.
actually, if we want to get round the negative associations of the word, we could describe it instead as being consistent … Acting consistently as agreed by the system that you have selected.
The complete opposite of self discipline is self indulgence : giving in to each need without thought for the future. Translated into trading terms, this suggests acting on your whims … Trading on impulse and on ‘feelings’. When you do this, you are leaving your profits in the hands of luck.
to be successful at most things in life, you need to act solidly and it isn’t always easy. Self-control requires saying no to an immediate temptation for the sake of longer term success or contentment. If we are to reach our goals, future results must be more crucial to us than current satisfaction.
In everyday life terms, this means turning down pudding because you don’t desire to put on weight, or passing on the illegal parking slot because you do not desire your auto to be towed.
In foreign exchange markets trading currency, means accepting a loss without losing faith in your system.
It implies looking out for a reasonable profit in the long term rather than taking large risks because you want to get rich overnite.
It implies not giving into the fears that hold you back from making a larger trade when you know it’s the right thing to do.
It implies doing your research instead of believing that the latest great strategy is going to work for you just because you want it to.
briefly it implies seeing that the emotions which can feel overpowering at times are not actually so vital. Robust emotion, whether or not it is fear, fury, greediness or need for pleasure, almost always relates to a short term wish, not a long term plan. We want to get beyond this to achieve success.
Our lives do not have to be ruled by emotion. In truth the base line is if you permit yourself to be consistently diverted by passing feelings like a sail boat in a hurricane, you may find it difficult to earn a living in the currency market until you learn to see your fears and needs for what they are : just feelings that will pass, no more significant than the itch of a flea bite.
But if you have trouble with this, do not worry. Help is at hand. Try an automated forex system. They are as emotionless as Spock and will do all of your forex currency online trading for you with the discipline of a robot.
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