Its amazing to know that the most important aspect of one’s success when it comes to trading is widely overlooked. The psychology of trading should be the very first thing a newbie should try to conquer before thinking about strategies. I can teach my strategy in 10 minutes, but controlling your emotions is a where the difficulty comes in. Fear, Greed are two deadly emotions a trader needs to have under control.
There is the fear of loss if you enter the trade, the fear of the trade going against you once you pull the trigger, and that prevents you from being a successful trader.
Then, there is greed, when you do pull the trigger and you are up in profit, you try to milk the market try and not sticking to your plan (if any)
My advice to all…“Control your emotions and not have your emotions control you” The forex is not an easy market to trade, but it can be traded. You just need to decide if you have the desire and the resilience to be in the top 5% of traders that does make it in this business…