After years of trading the Forex markets, Forex psychology is still what makes a Forex trader Money.
I've shared personal stories before of some who completely damaged their Forex psychology,
and will no longer even look at Forex.
And as I trade today, ensuring my Forex psychology is still in tact is my main aim.
Why you may think?
Because I know this is how I have survived so long and will continue to trade the Forex markets.
Wikipedia is a global brand when it comes to online information but Wikipedia misses one vital component.
Wikipedia does not trade the Forex markets and I believe only those who have won big, or lost big, truly understand the importance.
You may be losing money consistently and I can pretty much guarantee your psychology is what makes the difference.
It was for me and for so many traders out there who live to tell the tales of making it to consistent Forex profits.
Even the few who lost and are willing to share their stories.
Being in a battle (daily for most) is hard. But as I have learned and refined my craft, I have become a much better trader for it.
I remember when I just started to get some sort of consistency. I was forcing myself to trade every day and this was the reason I didn't make more. Now I can go a week without trading and feel completely fine because I have learned to trade Forex completely on my terms.
More importantly, the other opportunities Forex has given me. I've been allowed to teach others and start a business because the demand was there.
The amount of free time I have. And from some of the things shared in my case studies, you know I get to stay home and watch TV all day if I want.
One of the great things about Forex is I have loads of time to start new projects and I am currently in the middle of starting a new business which will generate more income for me and my family.
The Golden Nugget
The main lesson I want you to take from today's post is to cherish the time you have. It doesn't matter if you are in a similar position to me and stay at home 7 days a week. Or if you work 9-5 weekly. The race we are running is the same and I have been in both situations. What I have seen through my journey is time is not the object which needs to be defeated.
I teach confidently in module 1 of my All in one Forex course, how I spend just 60 minutes a day on my trading days and not a minute more. There are three scenarios that occur.
- There are no trades to be taken
- I take a trade an I lose
- I take a trade and make profits
I am completely satisfied with all three scenarios.
But Are You?
If you lose a trade, what is your reaction?
If you don't trade for a week or two because the markets aren't moving?
If you make a profit?
Wikipedia can only tell you the theory behind it but I can show you and teach you both theory and the practicalities.
Years ago I would never except a no trade day, I would rarely handle losses correctly and wins were never enjoyed because I was usually playing a game of catch-up.
If you can't develop your Forex psychology (Forex mechanics) you won't make it as a trader.
And this is one of the 7 Forex laws I breakdown in my All in on Forex course.
I want to ask you a question...
How much have you lost so far in Forex?
More than $997? if you are like most, the answer is yes. And lets not go through you losing another $997 based on trying to get Forex to work. Let me show you what you need to do as you go through the course.
Your Forex success is my main goal.