November 15, 2017 at 1:48 pm #922
When traders of Forex seldom make the profit, many traders feel euphoric after winning. It is very rare in Forex that you have made a profit and you are doing it consistently. If you are a professional trader in Forex, it may be easy for you to trade the market. You have known how to trade with your experience of the market. Not all traders can do that and if you want to make money in Forex, you will have to understand that trading after winning is not a good choice. You have got a euphoric feeling that is going to smokescreen your strategy and analysis. You will see things, hear the news and see patterns which are not even there.
This article is important for traders who win in Forex and lost after winning. There are a lot of people who are doing great and winning money. They are winning trades in a row but they cannot keep their money. They got this euphoric feeling and lost money.
Those who trade the Forex market from Singapore are very good in controlling their emotion. They know very well that there is no place for emotion in the financial industry. They simply wait in the sideline until they see lucrative trading opportunity in the market. Even after finding the best possible trading signal they wait patiently for the confirmation signal and assess the risk factors behind that trade. If everything goes in favor then they simply execute the trade and let the market do its own duty.
The expert traders are very keen at their trade execution. They always do their technical analysis in the higher time frame in look for quality signals in their trading platform in favor of the long-term trend. At times they even have to wait for weeks only for a single trade setup. But on the contrary, the novice traders are discovering new trade setups out of nowhere. This where they make the biggest mistake in their trading career. Overtrading the market is one of the major cause to lose a huge amount of money in the field of Forex. If you are determined to master the art of trading and lead your life based on this profession then you need to think different. Ask yourself whether you can develop a strong patience and discipline deep inside you. If you find a positive answer then start learning all the details about this market and develop you’re a unique trading system.
It makes an illusion
You cannot be a perfect trader in Forex. Traders who are professional and trading for years, they know this market is unpredictable. One moment you think you have got the trend and the next moment you are losing money. The only way to make your money without losing is by trading with a stable mind. When you have won trades, you are happy and your brain releases a hormone. This hormone is the source of illusion which makes the traders cannot understand what is really going on and what an illusion is. When traders are making money, you will see that it is very common they have lost their money after winning. It is because of the euphoric feeling they have got on their trades. They know they are going to win money and they are feeling happy and satisfied. This illusion will make you lose your money in Forex.
You should take break if you are winning in a row
Trading in Forex is not like playing roulette. There are times when you have to take a break. You cannot win all the trades. If you are making money, try taking the break and have a good timer with your family. You should have a trading routine that you should follow when trading. The euphoric feeling of your trade can be trained to be in your favor if you can trade disciplinary in Forex.
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