Why do you consider yourself a successful trader? Because you made profits today? Because you made profits last month? Or because you make profits in the long run?
We are used to instant gratification in everything we do and, if we do not get what we expect, then we consider it a failure. Is this approach right? No, but it is very common.
Forex trading, like any business, sport, or art, is not measured by the success of one day or one month, but by the overall success, the big picture.
The success or failure of a strategy is not determined by the profits you made today or by the losses you made today. As in everything, it needs time to prove itself successful or not, especially in a market with high volatility like the forex market.
A strategy must be tested and given the chance to make you money over time, in the long run, not just today or this week or this month.
If you concentrate your energy in making money in the short term, you risk making decisions that will make you lose money in the long run, like taking profits or close out the trade before the right time.
That approach does not make you a successful trader because you are not making all the profits (if any) you can make. You are being controlled by your emotions and are not able to have the peace of mind and the success of the great traders. A great trader waits for the right moment to close out the trade. A great trader has a strategy and has the discipline to follow it. A great trader is guided by wisdom, not by emotion. A great trader measures success in the long run, and usually the profits are high.
Everything worthy in life takes time to fully unfold and forex trading is no different. One day, one week, or one month, do not make it profitable or unsuccessful. It is a learning process, a disciplined process. You can make a lot of money if you are willing to learn and to apply your strategies knowing how you are doing it and why you are doing it.
Detach yourself emotionally, test your strategy and give it time to prove itself successful.
You will be happy you did.
Copyright by Lanval, Corp. All rights reserved worldwide.
We are used to instant gratification in everything we do and, if we do not get what we expect, then we consider it a failure. Is this approach right? No, but it is very common.
Forex trading, like any business, sport, or art, is not measured by the success of one day or one month, but by the overall success, the big picture.
The success or failure of a strategy is not determined by the profits you made today or by the losses you made today. As in everything, it needs time to prove itself successful or not, especially in a market with high volatility like the forex market.
A strategy must be tested and given the chance to make you money over time, in the long run, not just today or this week or this month.
If you concentrate your energy in making money in the short term, you risk making decisions that will make you lose money in the long run, like taking profits or close out the trade before the right time.
That approach does not make you a successful trader because you are not making all the profits (if any) you can make. You are being controlled by your emotions and are not able to have the peace of mind and the success of the great traders. A great trader waits for the right moment to close out the trade. A great trader has a strategy and has the discipline to follow it. A great trader is guided by wisdom, not by emotion. A great trader measures success in the long run, and usually the profits are high.
Everything worthy in life takes time to fully unfold and forex trading is no different. One day, one week, or one month, do not make it profitable or unsuccessful. It is a learning process, a disciplined process. You can make a lot of money if you are willing to learn and to apply your strategies knowing how you are doing it and why you are doing it.
Detach yourself emotionally, test your strategy and give it time to prove itself successful.
You will be happy you did.
Copyright by Lanval, Corp. All rights reserved worldwide.
About the Author:
Join the Successful Trading Club and receive information, tips, strategies, resources, and all the information you need for a profitable trading. To know how to trade confidently with a forex trading guide, visit foreignexchangecenter.com.
Posts
No comments:
Post a Comment