Forex Trading Psychology
Trading psychology and Forex psychology is important and dangerous. Psychology, rather than a lack of knowledge or academic skill in application, is often the primary generator of major mistakes when trading forex.
The errors are the same, and if people disagree:
The same mistakes are constantly being repeated by traders, whether these traders are from Egypt, Kuwait, Saudi Arabia, America, Japan and does not differentiate from any place or background the trader has come, mistakes are one and always repeated, despite the different national, cultural and social backgrounds, the common features between us As humans make mistakes one
Loss due to lack of control of feelings:
Many people lose money in Forex trading because they fail to control their feelings. Many books have been written on tips to improve trading, but despite this, no two people using the same trading methods have the same results. How is that? Every trader at one stage attended a workshop, training courses and mentoring programs aimed at enabling traders to make more money. But despite all of these, very few people succeed. The question is, why?
Forex Trading Psychology:
The science of Forex trading is a very important aspect of successful trading. Trading psychology has to do with the emotional state of the mind when trading. Most of the time, people fail to trade foreign exchange due to emotions and trading anxiety that may lead to knee-jerk trading.
The result is usually weak returns!
To trade efficiently, you must tolerate your feelings, get rid of any worries about trading, trust yourself and make sure to avoid the ridiculous business mistakes that might cost you money.
The consequences of not controlling your feelings:
The moment you do not control your emotions, enter into irrational decisions, and although you may be an experienced trader, you will lose your money.
Your state of mind and your ability to control your emotions is crucial in Forex trading, where decisions are made with more wisdom and wisdom. In the next article we will talk about how to control your feelings and employ psychology in your favor and not against you