Troubled mind is easily distracted when trading Forex, however, if you have specific application to implement at the time, you can be focused on executing the strategy successfully.
Following is a collection of advices from top tiered Forex traders who has become consistent winner. Strangely, most successful traders have given similar advices:
1.Set up own trading strategy that has high probability to win.
2.Prior to buying a position, define every possible trading risk
3.Completely take in the risk. If you cannot carry the weight of it, don’t be afraid to quit.
4.Do not hesitate when following your own plan.
5.Keep in mind that the market is giving you a chance to earn profit.
6.Think of profit as a token to become a better trader.
7.Keep an eye on the possibility to make mistakes.
To achieve consistent and reproducible profit, you must realize the above 6 advice must be applied. Keep up the high standard of discipline.
In Forex trade, the attitude and approach decide the aptitude of success. The 7 advice described above will help you trade with resilience and determination by helping you to understand the right Forex Trading Psychology.