The forex scalper is active long enough to penetrate and recognize the thoughts of many traders.
Firstly it’s important to know about the emotional and psychological part of trading.
If you think strategy matters your partly wrong.
Therefore you need to be smart, patience, disciplined and have the right mindset to be a successful trader.
But don’t get me wrong. There are a lot of webistes trying to sell a robotic, profit guaranteed, system.
Ever thought why? All they want is for you to buy their product.
They give you the illusion that their system is 100% waterproof so you buy their product.
But let’s think a bit longer before buying these systems.
Why if they are 100% successful, is the price just a few hundred dollars?
If it gives a guaranteed profit it should be valued much and much higher.
Likewise, if you have a system that will guarantees you a profit, would you sell it for a few hundred?
Just what I thought, you won’t.
As experienced traders we tend to tell you the truth and the truth only.
The thing is. Starting traders more often realize that their so called “guaranteed profit” system doesn’t work the way they hoped it would.
That’s why we give you this decent course.
Having an effective trading strategy is just a small piece of the big puzzle.
Again, balance your emotions and be aware of your mental process is vital in this business.
Why majority of all traders keep losing / Trader mindset.
Above all the truth is a majority of all traders keep losing. There is a simple explanation: They enter the Forex market with wrong expectations.
They think it’s a getting rich quick system.
Traders like that have the thought by investing a thousand ($1,000,-) they will make $1.000.000 in a week.
That’s just unrealistic. The Forex market is not a casino.
These unrealistic expectation can and will work against you and will brush your whole account away in a heartbeat.
Again, don’t let emotions get the better of you. Ask yourself the question: “what am I willing to lose?”
Always have the rule that you can explain why you make a certain decision.
Your thoughts have to be robotic and emotionless.
Start trading with money you can lose. Since losing money is part of this business.
We can have a good guess what is going to happen in the future but still we can’t predict it for a full 100%.
In the beginning the emotions will probably get the better of you.
You open your account after you’ve red some about Forex and bought your winning system.
You are all excited to become rich and live that lifestyle you’ve always wanted.
At that moment you need to start thinking clear and trust in yourself and always explain to yourself why you made a certain decision.
Don’t get caught up in your dreams like all the other traders do.
Think a head and you will have a bright future!
“Practice makes perfect”.
Doubt / Trader mindset:
The worst you can do is doubt yourself. When you don’t have faith in yourself you start asking other traders or online forums to search for answers that aren’t there.
Remind yourself, your opinion is the one that counts.
Trust your guts and judgement. Learn to live and love it!
Try not to look at other traders or what their doing. They might have a slight different strategy.
For example you are looking for a 5 PIP profit and trying to compare yourself with a trader that is looking for a 50 PIP profit.
You see the danger in this?
Trader mindset Every trader has a different experience or a different way of analyzing.
What doubt does. It makes you listen and value the opinion or strategy of the other trader more.
You stop following your rules and this might very well led to a big loss or even bankruptcy.
After a few losing trades it’s likely to doubt yourself and you strategy. Mostly you think you don’t have what it takes or something in the area.
Advice is to look at your mistakes and learn from them. Let these mistakes adjust your strategy a little bit.
Maybe you conclude that it wasn’t a mistake and simply bad luck.
If that’s the case keep doing what you did and trust yourself that the outcome will be profitable on the long run.
“Move on, understand what happened in the past but do not have an emotional attachment to it.”
Want to know more about trading in forex / trader mindset or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.