Trading psychology is a key factor in the Forex market

With the acquisition of practical experience in trading on the Forex currency market, a trader begins to understand that psychology plays an important role in his success. Often, the requirements of the exchange do not correspond to the social and life attitudes that are rooted in our subconscious, which causes internal conflicts and further financial losses.

Mistake is not always bad

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We were taught from childhood that making mistakes is bad. When we answered incorrectly in a school lesson, the teacher gave us a bad grade. But in trading you can’t treat mistakes unequivocally, because any losses you incur even forex demo, must be analyzed and analyzed in detail so that the experience gained can subsequently be used to generate income. What do we see in the trading of novice traders? As soon as their trade begins to bring losses, a feeling of instability, uncertainty and fear immediately turns on. As a result, extreme psychological stress leads to loss of self-control and can even cause panic.

Such a development of events is a clear failure, in which the player is deprived of the opportunity to reason sensibly and evaluate his actions. In fact, it is not a mistake made that leads to losses, but an incorrect attitude towards it on the part of a participant in foreign exchange transactions.

Attitude to money

Traders cannot feel the material component of their lots; everything is contained in digital values ​​​​on the screen of the trading terminal. As a result, this unusual phenomenon, when we are transferred to a system with different values, often misleads novice players. Many begin to equate unrecorded profits with the paper equivalent of money, at a time when doing so is strictly prohibited. Professional players count their profits only at the end of the period set for themselves, while an experienced player would be more willing to pay attention to the percentage component of the income received rather than to its quantitative expression, and even more so, to the amount of material goods that he could purchase with the proceeds.

If a player begins to indulge in daydreams while trading, we can safely say that he will soon suffer losses. It is important that your system starts working, and that you focus not on income figures, but on the quality of the trading process itself. And if you really succeed in achieving this, you will soon notice that unnecessary worries have disappeared from trading and even the success achieved no longer makes you dizzy and does not force you to be distracted from more serious things.

consciousness

It is worth noting that experienced and novice players have fundamental differences in their attitude towards the trading process. Beginners want to make money as quickly as possible, while more experienced players simply systematically work with Admiral Markets Netherlands and receive a certain percentage of the invested funds as earnings. Moreover, the latter are completely satisfied with this type of work, and they do not plan to stop at the achieved results.

While for a beginner trading is a kind of Internet casino, for a professional it is only a highly paid job in which career advancement directly depends on your skills and abilities.

In conclusion, I would like to note that the profession of a trader is unique in many respects, since it allows you to truly “make money out of thin air.” But unlike the expectations of beginners, here you won’t be able to just hit the jackpot and continue to enjoy your victory. The planned income is achieved through strict discipline, deep knowledge and confidence.