i feel more impatient these days especially when i am losing money. Anyone else? Looking forward to positive answers from others. If not, thats ok too, at least we are the same.
Well letās start off with what you are tradingā¦major currency pairs, minor pairs, stocks? Are you on a demo?
Interesting question.
I used be full on ADHD - that isnāt the best trait for trading.
But as time has gone on Iām much more chilled.
Trading forced me to dig deep within myself, itās made me more resilient and generally a much better person .
There is nothing like losing other peopleās money to humble you (which I did)
Im also a much more grateful person these days, although whether thatās because of trading or simply getting older I donāt know
I was feeling very bad when I was lost all my money in the first few trades but after it, I did not leave the market and continue my struggle to be a successful trader and now I am on the right track and start making money.
Yes I understand what you feel, I also feel impatient when there is a trade running and then the outcome of the trade defines the post behaviour but then again there is one thing apart from profits and losses, that I feel like more confident having gained so much knowledge about these things and the market.
Iāve become more patient when I got my mind set sorted, particularly regarding trades in percentage terms instead of money. For example, losing $100 on a $10,000 account is only 1% of my capital. Nothing to write home about, thereās always another trade waiting in the wings.
And also by saying out loud, āhey, look at thatā when my trade heads south. But important to analyse why that happened. My motto, āDo more of what works for you and less of what doesnāt.ā
Donāt be a fool, keep it coolā¦
Traders personality defines how successfully he could trade in forex. It changed my confidence to trader or any other thing i do personally. Definitely your mind becomes sharp and powerful strategically and also creative for making new trading plans.
Trading taught me discipline. I blew up an account due to lack of discipline and that was a lesson I never overlooked again.
Probably even more cynical if that was possible!
Trading has made me more patient now. It is important to stay focused, learn from your previous mistakes, not to take the same risk again and most importantly to stay disciplined. So for example, if you donāt trade around trade holidays or when the market opens or closes then you should stick to this policy of yours.
Iāll have to agree with @cashisking86 on this one. Definitely made me more cynical. Which I suppose might be a good thing cause maybe I started off too idealistic anyway.
On the verge of trolling here and perhaps off topic but not far off OP subject: Iād be interested in understanding what is a āgenerally much better personā. Better than before I sense you might mean a kinder person (?) āBetterā is a very subjective concept because it begs the question ābetter than what?ā Were you a worse person before? Maybe just at an earlier stage of discovery.
Just playing here, I love your wise comments on the psychology of trading and lap them up and as a beginner I take note!
Fair point.
Better - more effective, more confident, wider locus of control, wiser, less hyperactive, less reactive to outside events
Not necessary referring to ābetterā in a religious sense.
I also donāt think these traits came specifically from trading - they did come from the massive failures though.
I am new to forex trading. Every day is a struggle for me. I can feel my heart pounding whenever the market price fluctuates. I will not give up though
Sorry Iām new
Welcome to the jungle fellow trader. Do not give up. Keep your head high, you will make it.
Asolutely! The same happens to me when there is lot of fluctation in the market. My heart skips a beat so often.But I am trying to be as calm as possible in order to make the best of any situation.
it is very interesting how our activities shape us. do you think trading has helped you socially?
Lol
The first few years I was trading (and very bad at it) I would bore the pants off anyone willing to even partially listen.
I would somehow skillfully manage to steer any conversation down the pub towards all things markets
These days I cringe at that, preferring to keep things to myself and using my blog as that outlet.
Iām pretty adept at most market topics now and occasionally when I hear someone talking hot air down the pub about the economy Iāll say so - but rarely.
I think Iāve matured
i was going to say this is really related to age but you are right, this is maturity. i know people who are old but still act like this. this is growth my friend. you are lucky you have self awareness