Learning to cope with loss-making deals on ForexJohannes Röll 21 / May / 20 Visitors: 9
Learning to cope with loss-making deals on Forex
In order to profit from trading on Forex - it is necessary to learn to admit the mistakes and cope with the losses.
First of all, you must learn that losses on Forex are normal. Even successful professional traders periodically lose money, and what to talk about beginners who have only started trading.
Of course, it is very difficult to respond calmly to the loss of your money. But if you are not psychologically ready to cope with this and cannot accept the fact that Forex is not only profit, but also loss - it is better not to start trading.
Working in the foreign exchange market is not easy. Many quit trading after the first failure, blaming all Forex. And only a strong person who is aware of his mistakes uses them as a way to gain experience and soon begins to earn.
How do you experience losses in the Forex market? Let 's look at the four main stages of this moment of trade.
This is the first step towards the realization and acceptance of the mistake made, when you ignore the problem at all, convincing yourself that nothing terrible has happened. "Not such an important deal," you say to yourself. Instead of accepting and analysing your actions in order to avoid losses in the future, you drop your guilt and try in every way to avoid the slightest reflection on this subject by continuing to trade.
Search of a mistake
The second step is to analyze your actions. After trying to calm yourself by reducing the burden of guilt, you still begin to analyze your trade in an attempt to find a wrong action. It comes to be understood that the strategy you traded on is not as perfect as it seemed at first.
This step comes after you spent quite a while searching for a mistake, but did not find it.
You kind of did everything you could to understand where you got it wrong: you went through your trading system from "a" to "I," you did its full analysis, but you still didn 't find an answer.
Because of the painful misunderstanding you lose appetite, you cannot sleep and constantly experience tension, from which it is impossible to get rid.
All this, of course, is understandable and natural. But it is necessary to learn to eliminate this condition if you really want to become a successful Forex trader.
Let yourself hurt about the loss for a couple of days, but after - return to the normal course of life. Put your thoughts in order and do not allow yourself to spread - so you will still not be able to help yourself and find the same mistake.
The fourth stage is the heaviest and most treacherous, as it is divided into two types. The first type is the most common: a trader who made a mistake during the trade and lost money begins to accept the idea that Forex is not his and it is better to find another occupation easier:... "in this case I am a complete loser. I don 't want to feel that way anymore, so you need to look for another thing for yourself. "
The second type of acceptance defeat is typical for real traders, strong personalities who know how to lose, take responsibility and, at the same time, do not give up and do not go off the chosen path. It is such people who become successful traders, earning serious money in the end.
The secret to success on Forex is to be able to acknowledge your mistakes and learn from them without leaving to work and strive for success. Nothing really worthwhile is given simply. Don 't be afraid of your mistakes and losses. They are your teachers leading you to success!
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer