Wasting your Forex account without knowing about itJohannes Röll 23 / April / 20 Visitors: 43
The prime cause of unprofitable transactions on Forex is not what about the beginning traders think.
Very often the problem consists not in behavior of the market, but in a small deposit or your money management and observance of strategy.
Sometimes the trader himself becomes the reason of killing his deposit.
How does it occur?
There is such concept as self-sabotage. Sometimes, when we get into a stressful situation or to us is for some reason uncomfortable - our brain reacts to the similar moment quite peculiar.
When everything occurs at the quiet speed, measured, comfortable for you, you feel protected. But when begin to overcome doubt and concern, fear - your the second "I" begin to be protected.
Thus, if you test strong, negative emotions are more often the quantity of mistakes which you make during trade strongly increases.
It is wrong to believe that trade in a condition of a nervous overload - it is normal. It is also wrong to think that having disconnected all emotions, it will be possible to earn more. Your emotions are indicators which help to understand if something goes not so.
But for what reasons our brain reacts thus?
As you estimate yourself
One of the main reasons for self-sabotage which are not connected with the market is your personality: how you feel in the world as well as whom you see yourself whether you consider that you are worthy success. All of us grew in different conditions and were surrounded by different people with different beliefs which participated in formation of our persons.
Perhaps, I will surprise you, but, despite beliefs of most of the trading traders that all this it is necessary to consider and treat a question of the personality very seriously, from the experience I can tell that this factor is not so essential and important.
As as on me, it is logical that if at you with finance it would be absolutely bad and sad - to trade on Forex you and did not gather.
And if such desire and the minimum confidence are - means, you can get the best of own features of mentality without prejudice to a purse.
Because of mistakes which were displayed on your history of trade you can be under the constant pressure, doubts preventing you to make surely trade decisions and to earn money.
Past negative experience can influence strongly trade today, pursuing you and forcing to rush about constantly from one decision to another. You need to realize, first of all, that following the made mistakes in fear them again to make, you will not achieve success not only on Forex, and at all anywhere. Therefore you treat them as to experience which does of you the professional, but not the loser.
Most of people who only began the way the trader's Forex, consider that it is enough to seize a minimum of information and subtleties of behavior of the market and in the market for a long time to be late in trade. Thus, meeting the market in reality, the person who neglected many important factors of features of Forex earlier, is not ready to those stresses and serious problems which overtake it.
The second "I" the trader who does not own enough knowledge sabotage its actions, knowing that you still, in fact, have nothing to earn a reward. At first you have to accumulate experience and learn to work as all serious and successful businessmen.
You have to understand that before receiving a lot of money, you have to work properly. Then your brain which knows it will not be vstavlit to you sticks in wheels.
Set of necessary tools
Each work demands a certain set of resources and tools. A bad, semi-bald broom will not leave properly sweep out litter. In the same way in Forex: the bad tool will not yield good result.
Also, as we already spoke, knowledge, later, the skills coming with experience is necessary for profitable trade. It is very important to be able to analyze the work to see mistakes and to understand what needs to be corrected and what actions need to be excluded or undertaken.
As soon as you learn to notice in yourself the described factors of trade and your personality - you will be able to cope with them and trade will go much better.
The main thing in Forex - desire, persistence, work and ability to control itself.
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