Summary: Trading Psychology
Ok, now that you have read the lesson material and taken the quiz, please make sure you completely understand and/or do the following:
Sometimes the difference between success and failure in every aspect of life is a very thin line. Never more so than in the Currency Markets.
Our experience as mentors has shown us that sometimes this thin line can be crossed (from failure to success) if our mental approach towards the Forex market is appropriate.
Being Wrong – Once you understand this section, you will be no longer afraid to take the next trade.
Risk Takers – When you accept the fact that you are a risk taker, losing trades will no longer do any damage to you.
Market uncertainty – Once you understand it you will trade with ease.
Responsibility – You are responsible for every trading decision you make, not your broker, not your mentor, not your dog, only you.
Commitment – Succeeding in any endeavor requires commitment and hard work.
Patience – Oh yes, you also need patience: first for you to acquire the experience you need to trade successfully and second to let the market signal your trade (where the odds are in our favor).
Don’t worry if you don’t understand this section on the first read, give it another one, and if still unsure, try the Q&A forum or contact us.