Having a proper control over your emotions while trading is Mental toughness for me. Because if you have your emotions under control, no one can stop you from being successful in forex trading.
True!! Greed & other emotions can be controlled by self-discipline and by having mental toughness.
Trading, in my opinion, can now and then be exhausting when overdone and excess of everything is bad. Discipline and having control on your emotions can help strengthen mental toughness.
Mental toughness can be built by regularly controlling emotions and being disciplined. These take time to develop, but once you’ve developed them, mental toughness becomes an easy part of forex trading. Along with them, learning will tell you what to do and what not to do. Risk management will help you become good at making better trading decisions, which in turn, will help you strengthen your mental toughness.
Mental toughness is actually about having a psychological edge which sets you apart from others. It can be your determination, consistency and patience. A forex trader really needs all these traits to become successful in the long run. Trading has a lot to do with our mindset and perspective. It won’t be easy to build mental toughness as a trader. But you will go through a transformation as you gain experience in the forex market as a trader.
Mental toughness will strengthen as you gain experience. It is crucial for you to follow mental toughness. On days where you are not getting success, you can take a break for a few days and come back with a fresh mind. Pressurising yourself to trade can never build mental toughness.
Mental toughness will come when you start taking risks and facing your fears. Of course, those risks should be according to one’s situation (i.e., only that much that one can afford to lose). Once you start taking risks and face your fears, you will understand that the things that used to bother you unnecessarily will become trivial. Journaling about everything is crucial; do not forget to write down the emotions you face while trading. Make them your triggers the next time you start trading.
Interesting username! Why did you pick one with “anger” as the root word?
In order to build mental toughness we should follow some life ethics, such as learning when to use our reflexes correctly, such as when trading we should not be moved by greed and over-trade rather we should control our emotions and be disciplined.
Actually, I know my mental condition well; so when I feel okay then surely I’m not going to open any new trade position!
With practice and awareness, mental toughness will become easy. At first, it might feel heavy to follow it, but if you stay consistent with the knowledge of mental toughness (which you can gather from books or online courses or videos), you master this art.
Mental toughness is the ability of individuals to keep pushing even when the going gets tough. And it can be strengthen by practicing control.
I think mental toughness is about being resilient even when you experience intense emotions. As humans we cannot be emotionless but we should be able to function normally even while dealing with these emotions. A trader should be able to make rational decisions even if they feel emotional while trading. This kind of mental toughness can only be attained by gaining trading experience.
Just as you can’t increase physical toughness unless you start challenging your body to do something beyond your limits, you can’t build mental toughness if you won’t recognize or accept your emotions.
But before that you should work on making your mind capable of coping with these emotions.
In the gym, we don’t start lifting heavy weights on the first day. We give our body enough protein to support itself and promote muscle growth.
Similarly, we should perform mental exercises like meditation or having some alone time to release those pent up emotions and relax our mind.
the biggest sign of a mentally strong and a mature trader is when a trader squares off a trade with a loss, without adding to the losing trade in form of doubling down or martingale.
to strengthen your mental game… maybe take a day off after a few good trading days… relax with a few drinks and treat yourself.
meditate… incorporate music in your trading sessions… works for me
Unfortunately, the only way we strengthen our minds is the way we strengthen our physical muscles:
We exert and break them down and build them back stronger.
Your mind is like a muscle. It takes some heartbreak and pain to become stronger. The exercises that make you mentally tough are not our there on some secret training regimen - it’s in living your day-to-day life and overcoming your personal challenges - it’s living one day at a time.
May you break resistances and reach new highs!
Your analogy is spot on—strengthening our minds is indeed like building physical muscles through challenges and growth. Each hurdle we overcome, no matter how tough, contributes to our mental toughness. Here’s to conquering obstacles and achieving new heights!
That’s pawesome to hear! I hope you do well!
When we talk about mental toughness, it have to do with combination of experience, result and money management. It’s not something with our feeling, emotion and assumption.
The sign of your mentality very obvious to these parameters:
- Do you know your money management well? It’s about you know how to calculate clearly, your total asset, trade-able amount and active trading fund. If you can’t answer this point, you are not ready as a trader.
- Next you know very well the stats of your strategy. For example risk reward ratio, trading setup and have definitive proof of result. You must have real data of how it works, time frame, instruments and clear rule and restriction to use it.
- You must have discipline to execute every details of your trading routine with no doubts every day.
There is no shortcut to improve this factor other than learning from bottom. It took me almost 3 years to find serenity in trading.
The first step is the hardest, you need to learn how to analyst market properly. Understand how market work, focus on only to max 2 instruments. Learn how the instrument behaves. Next find what type of strategy work well with the instrument. Once you have familiar with the strategy, start with demo account. The point is you know the stats of your strategy. This one will take a long time. It can be shorten by having a good mentor, but it’s rare.
It usually takes about 6 to 12 months to get confident with your strategy, as long as you get profit. Even though the profit is small that will be fine. From here you have accomplish point #2.
The next steps is your money management. You have to know your comfort level in relation to negative floating or risk. Some people feel comfortable with floating -1000, some can’t even deal with -50. Mostly it comes with total assets and personal background. In general, comfort level when your trading capital is 1/20 of your total assets. Start trading your strategy from smallest volume, a long the time, you will be able to coupe with bigger volume. It took me almost 5 years to trade from 0.01 to 10 lot. This is how you strengthen point #1.
The last point can be seen by reviewing your trading result. Evaluate your trading history, how often you break your SOP. It’s impossible to have improvement if the person keeps breaking the SOP. Mostly the person’s account will get clean out as the result. Naturally the person will get humbled by market, and becomes obedient by market.
These are how mentality toughness is formed.
It is all about resilience and the ability to stay focused and determined in the face of challenges. I see it as having a strong mindset that allows you to push through adversity without losing motivation or confidence. Strengthening it involves practicing mindfulness, setting realistic goals, and consistently pushing your comfort zone. What’s your approach to building mental toughness?"