Forex Trading looks too easy to new traders. When one realizes the huge potential of this market, especially in times like this when the stock and commodity markets are unstable, it is sometimes very tempting to open live account and start trading right away. But in reality most newbie traders are being slaughtered by the professionals and do not survive more than a few months. Other keep struggling with forex until they quit.
So what separates the boys from the men in the forex market? Unlike newbies, experienced traders know that the forex game CAN be easy, if you play it right. Through a process of trial and error, winning traders came to conclusion that what separates winners from losers in the forex market is one single thing; a thing that seems so close but for many traders is often unreachable. This "thing" is Trading Emotional Intelligence. Once you understand this, you are automatically a big step ahead of the herd on your way to become a winning forex trader.
It does not matter how well you master technical and fundamental analysis. At the end of the day, it is your ability to master your emotions that counts. Beginners may not fully understand the importance of this, but veterans know that the trader's state-of-mind determines everything in trading including money and risk management, entry and exit points, profits and losses. This is really the only thing you should know about forex before you start trading. Anything else - like trading strategies, technical analysis, fundamental analysis, economic news etc. - can be found for free all over the internet.
Therefore, if you are currently struggling with forex you should first look into yourself. Sometimes a small mental change is all it takes to make a huge difference in your trading.
| One of the best programs in the field of forex emotional intelligence today is Brian McAboy's "Trading P.I.T Club". I know Brian for a couple of years now and the guy truly knows what he is doing when it comes to trading psychology. Brian focuses on the emotional aspects of forex trading for many years and his special educational approach has changed the lives of many traders worldwide. Among others, he is the author of "The Subtle Trap Of Trading" which helped hundreds of traders to improve their emotional skills and finally achieve a true forex freedom. His recent "Trading P.I.T Club" is a step-by-step 26 week training program for becoming an emotionally intelligent winning trader. This unique program is the outcome of many years of trading experience and is the most professional Forex Psychology program available online today. So before you place another trade, make sure you read Brian's message here |
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