Daily new traders enter into Forex with a desire to earn profits. No one invest for losses. With this thought every individual plan the strategy to earn maximum returns from their every investment. But it has been observed that traders despite of having a plan strategy use their emotion to trade and depend on the so called Gut feeling.
A Normal Trader’s Perception Is:
- I feel I will earn this much today because my inner state says so!!! Or,
- I will not trade today because I know I will surely loose!!!
Rather Than A Trader Should Decide:
- This is today’s forex signal trend and thus I will invest this much and my stop loss will be this much!!!
- My take profit will be this much today!!!
Unfortunately we have only 3% people in Forex Trading who keep their emotions and sentiments completely away from their Forex investment plans and rest depend on their emotions. Some traders club both emotions and forex signals.
The fact of forex trading and earning by investment is far beyond the luck, destiny, fate, good days, gut feelings and all such emotions. Your forex trading investments should always depend upon:
- Daily forex pips
- Forex recommendations
- Past statistics and analysis
- Demographic and Environmental conditions of the nations
- Facts and figures
So folks learn to take your decisions on the forex signals and not on your fates.
Ask The Below Questions To Yourself Before Investing In Forex Markets.
- When should I purchase currency?
- Under which factors I should change my decision of my planned strategy?
- Have I taken the variations factors into considerations?
- What is my Stop Loss and Take Profit strategy?
- How much loss can I bear and how much profit is my target?
You need to be specific about everything you plan and work according to your planned strategy. But remember your strategies must be flexible because the Forex is unpredictable and you sometimes need to change what you have decided but that should also not depend upon your emotions rather you should trust your forex signals and not blame your fate for the happenings.
According to my past experience in Forex Trading I have made few presumptions that I always keep in mind and thought to share it with you via this blog:
- Never mess up with your logic and emotions it will take you nowhere
“Start Trusting Your Forex Trading Signals”
- Invest when you have complete knowledge of the Forex coz
“Incomplete Will Never Turn Complete Until You Don’t Put Efforts”
- Don’t trade very frequently because it can cost you high.
“Understand the Cost of Trading and Profits That You Desire To Fetch Before You Rush For Trade”
Forex market is very promising market and the benefits are really amazing all you need to focus is on the Forex trading signals and keep away your emotions from trading strategies you formulate.
One thing you must keep in your mind for Forex trading and every aspect of your life as well:
“Be Strong Enough To Stand on Your Decisions Rather Than Blaming Your Destiny”