Trading psychology is one of the top reasons that determines how successful we can be in trading. How do you deal with losses? How do you overcome a situation? What actions do you take when the market starts moving aggressively in the opposite direction? What do you do when the market moves in your direction? Are you overexcited too early? Do you let the trade run and maximise profits or do you stop when you have reached the level you want? These are all questions that are asked when you are trading and you must always keep a calm and cool approach to your trading. You can not rush into things. You have to be alert but not overwhelmed with a situation. I think trading psychology is key to success.
See this is what I don't get. Trading take up very little of my time. Everything is neatly mapped out in my trading/business plan. Therefor when it comes to the actual act well, its boring as ducks. Even the buzz of trading ticks has gone. Nearly all my work is in the background. Reading, testing, analyzing. And of course when my brain hurts you get a good laff and hang out @ BP's. Maybe is the psychology of hard work that makes the difference.
No matter how simple forex trading is trading psychology is very important . If you cant control your emotion it will be difficult making good profits because your emotion can ruin your good strategy even profitable trades.