"Mental toughness": How do you define this and how do you strengthen it?

Get use to losses will help

A trader needs to have a strong will to survive. To make it in the volatile world of trading, individuals must possess a specific set of skills and traits. Like perseverance, self-control, and an openness to new experiences.
When a trader works hard despite ugly ups and downs and unwelcome obstacles. Then you can categorise this person as mentally tough.

Yes, I totally agree with you and mainly about the key point discussed i.e Shortcuts. In the long run we need to be calm, cool and keep our composure. Without inculcating patience you cannot do trading in the long run.

I second this question.

@margincat would you be able to elaborate on steps you took to achieve unemotional trades?

Unemotional trades sound really good but also I feel like there has to be room in here somewhere for recognizing your own gut feelings, no?

I would say a sign of mental toughness is when your able to trade, take your losses and stop before you blow your account. Not being carried away by emotion is probably the biggest sign of mental toughness. I am pretty sure you can develop this by taking cold showers, meditation, and working out.

Definitely!

I like to think that trading on gut feelings is still peppered with emotions (irrespective of these being positive or negative, because - at least in my case - my gut is very reactive to my emotions when trading).

Therefore, I would say that gut trades are the last step before achieving unemotional trading (trading purely based on fundamental and technical analysis without emotional bias).

Actually now that I think about it, gut feelings are terrible because if your gut turns out to be wrong… what then? :clown_face:

:smiley: indeed, then I would start criticising my guts too!!

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Mental toughness refers to the measure of an individual’s resilience and confidence. When trading forex, you need to be mentally strong as the forex market is a psychological game and if you don’t manage your emotions well, you’ll face losses.

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Trading is tough. Daily market chaos requires mental energy. By taking steps to prepare for stress, you can develop mental toughness and be more resilient during trading. Less stress means more trading energy. You’ll trade easily, logically, and profitably.

I would say that going according to what one has planned is a good idea. Re-assessing it and tweaking it whenever required is necessary. Discipline and consistency in trading help one become mentally tough in trading. Emotions are good, but I would like to prevent them from pestering me in my trading. Without proper risk management, mental toughness can never be there.

Don’t give in to the general hysteria. Work in the direction of the trend. Take your time! Be patient, and be able to wait. It’s hard, by the way. But it’s necessary. NEVER get hung up on the result. This is another road to ruin. It will kill the deposit faster than anything else. Another important point to build mental toughness: Fail? Don’t whine! Failures should be seen as valuable lessons. There will always be defeats. Because no one can absolutely predict the behavior of currencies. No one can. But a trader can do something. After catching three consecutive “Losses” - it is necessary to stop. And think about the reasons. If no reason can be found - it is better not to enter the market on this day. A psychologically depressed trader will not last long in the market.
Here are a few moments of psychological stability of a trader.

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This. And I think it leads to revenge trading or rage quitting. The latter would seem a better reaction because it forces the trader to remove himself from the device, and possibly the room where the activity is being undertaken, allowing the trader to calm down and hopefully realise what went wrong.

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Honestly I don’t tthink they’ll even start…

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You do not need to get attached to your trades. Accept whatever it is that you get and never attach emotions to them. Emotions can ruin the game, even if you play well. Skills are necessary too. Skills like money management, emotional management, risk management, etcetera strengthen your game and help in mental toughness.

The most crucial mental qualities of trading success, in my opinion, are dedication, patience, a risk-taking mindset, and flexibility.

The most crucial mental qualities one has to have, in my opinion, to succeed in trading are persistence, patience, a risk-taking mindset, and flexibility.

Forex traders can strengthen their mental health by getting into the habit of being positive.

Positive thinking is a skill that can be developed and strengthened. It’s not about being unrealistic or naive; it’s about knowing how to stay focused on what you want, instead of getting distracted by what you don’t want.

The more you practice positive thinking, the easier it becomes. And once it becomes a habit, it will help you stay focused on your trading goals and keep you from getting bogged down by doubts and fears.

mental toughness = skills
the more you skilled ,the more you mentally tough,don’t reverse the order.
for me ,there’s no such thing as “mental softness” all your mind doing is trying to protect you from doing stupid shxx