Myself Cheetu Jaisinghani and I have just started to learn about forex. I wanted to take part in the discussions and questions as well. But first things first getting introduced
I am a hypnotherapist by profession and a mediator by passion. I want to learn forex trading because I want to meditate more.
Well if I menage to make some money with forex then I will have to work less with more control over my time. And I can spend more time in nature (I love to have long mindful walks).
In Indian terminology mindfulness is often expressed as becoming an observer, it is the same thing as mindfulness in west. I use to think that forex is about something technical but now I am exploring that I need not to learn much. It’s more about your psychology.
Welcome to the forum not sure if it will help you meditate more or allow you the space you need to meditate but it should come in handy esp where stress levels are concerned…
I didn’t mean that I will not learn the crux of trading, I will have to understand the basics but I will not struggle to understand the psychology of trading.
I am very very new to forex so I cannot say anything with accuracy but one thing is certain that everyone will suggests you to not to become a emotional trader or someone who is addicted to trading; even I can say many people deposit funds just to loose them again and again.
At the moment as I understand forex is 25% technical and 75% psychological.
Most newbies tend to think that they can print cash overnight, the one liner that made them buy “The expert guide” would usually go like “Become a Millionaire overnight by forex trading”. The truth, naturally is far removed from the reality these useless scamsters roll out.
When it comes to trading, you need to hunt down all the free resources online, ones that give you the info you need to start. Practice with a demo and after a while, move on to live account and with that, you would have taken that first step to becoming a successful trader, good luck!
Hi Cheetu. Kinda. I wrote an article about it here.
Why you should practice mindfulness in trading: It is because we think too much as traders and we can get so caught up with the noise in our head that we forget about the reality of the market. By practicing this it will allow you to become more mindful of the reality of the market. The more in sync you are with the market the better you can trade.
Hi cheetu, welcome to this forex community. It is a good thing that you are hypnotherapist by profession and amediator by passion. I hope, your long stay here and best wishes to become a profitable trader in near future.
Since the observer knows about past mistakes and bad habits. The observer knows that other traders probably feel the same way so there will be no volume. The observer knows that the resistance level hasn’t been broken so I need to wait. The observer knows that this is the time that I start to over trade or make impulse trades since it is my reaction to a loss.
Ha Ha Ha :59: You wrote as an Indian mystic; I like it. Really I was not expecting these lines on a forex trading site. It feels that I have started making friends here.