Emotions are a key factor. It is under the influence of emotions on the deposit that zero is most often formed, it is they who make the trader go to rash transactions, so it is important to learn how to control them.
Start to trade – turn off emotions
The market is very exciting, because here you really have the opportunity to earn a lot of money, and it is clear that many actions on Forex are related to emotions. Experienced traders learn to turn off their fears, their greed when they begin to trade.
As statistics show, almost 90% of unsuccessful transactions became such precisely for the reason that they were performed in an emotional state. The most common example is that the trader loses some amount, and in the hope of returning it and getting income, opens a new transaction without evaluating the risks without conducting an analysis. As a result, its loss increases.
Learn to overcome emotions, block them. As one host of the trader said, the main thing for the player, to learn to perceive an unsuccessful deal as just one of the stages of trading, not to pay attention to it, realizing that mistakes are inevitable. Such traders always achieve success on Forex, because they do not allow bidding their emotions, but act only guided by the mind.
How not to allow emotions to interfere in the auction
In any situation, you must clearly imagine when to enter, when to get out of position, at the same time represent, guided by common sense and calculation. A novice trader should be ready for the fact that on the market he will face a great emotional stress, so it is advisable to have stress resistance and iron character – this is almost half the success in the market.
Use protective measures, in particular, be prepared that the market will turn against you, so have a plan for leaving the market, make adjusting the stop-signals, and calculate the efficient use of the loan.
Note that the Forex market for beginners offers exactly the same possibilities as for an experienced trader, and if the beginner teaches himself to manage the mind, he will be disciplined, he will be able to earn good money on a par with leading trading participants.
Learn to recognize errors and treat them as a proper event. Losses, this is normal, they can always be compensated by the following transaction, the main thing is to operate with such amounts so that you can return them without replenishing the deposit. Even the most professional players suffer losses, but they know how to recognize mistakes and pause in time to analyze the causes of failures.