A poor FOREX MINDSET could be the death of a trader. The Newbie trader believes that FOREX trading is a viable way to earn money. A more experienced trader, one who plans to trade on a real funded account, then believes so strongly in the concept of trading, that they found a broker, created a brokerage account, and took risks to fund that account. The experienced trader equally understands that real money can be lost. What keeps this trader trading? It is a strong conviction that the concept that money will be made in more trades than losses when FOREX trading. The trader explores the industry and continues to take risks with real money. This article will expose three things that kill a trader and how to avoid the fall.
A FOREX TRADER’S DEATH BEGINS WITH DOUBT…
The death of your trading journey will first be exposed as doubt. Doubt happens when trades do their thing. Trades have a way of getting away with murder! When trades are entered without proper planning, goal setting and information from the charts, trades could follow the ways of a river, weaving and wandering farther and farther from the 50% average, that would make them a straight line. This impacts the mindset of a Trader by weakening their resolve and confidence when the Trader contemplates placing future trades. The trader faces a mental dead end straight ahead!
The belief of any trader must first be defined and built with positive messages and small increments of success. The result of any trade must come with substantial belief in the industry. With each successful trade, increased belief in the industry is formed. As trades go into the red and losses must be taken, doubt in the industry and in the skill levels of the trader are tested. As this occurs over and over, the missing positive trades erode the energy and stamina of the trader. Once weakened additional poor, desperate and frantic decisions could be made.
MAKING POOR FOREX DECISIONS…
When the trader engages in practice trading, blowing a DEMO account does not have the same impact as it does when the account has been fully funded. Losing real money can have physical, emotional, mental and at times, sexual implications. The connotations of these could be life changing. These are the reasons why making poor FOREX decisions pours salt into the wounds, constituting real reasons why some traders have had enough, at this point. These traders become the ‘special victims’ to the law and order of the rules for trading and death becomes them. Their trading journey is over.
FOREX BOTTOM LINE BECOME THE BODY OF TRUTH…
Keeping a FOREX journal exposes how your past trade ideas directly impact your FOREX bottom line. Reviewing past trades is truly the best way to justify your next trade. Without this volume of information, it is almost impossible to pick up on the tiny mistakes that could quietly be extracting funds from your account. Those tiny mistakes can be the compared to criminal minds or chess, because they feel stealthy and sneaky, but they are right out there in the open.
By now, the trader has already stopped practicing. Trading is no longer fun. The enthusiasm that was once matched with the potential successful trade is gone. The weaker and less efficient the Trader’s FOREX trading decisions become, the greater the losses due to desperation, the feelings of losing money and guilt. As the account shrinks, the trader starts to make changes. The trader may not recognize the impacts of the changes that they make to individual trades because the trader is making too many changes too fast, forcing the account into oblivion.
AVOID BEING THE VICTIM OF A POOR FOREX MINDSET
The use of interrogation helps any detective determine what killed the victim. The mind hunts for answers. Mindset MASTERY has the most profound positive impact on your trading than any other thing. Discover how FOREX Mindset Mastery will work for you as a Trader.
Because the markets are available almost 24/7, guard the funds you have worked so hard for in your account. Build your belief in the industry, by finding a mentor who will support your journey as you need BEST! Create the Abundant Gratitude lifestyle you so richly desire even if it is only on paper or a dream board. Embrace this life-long journey. Make time daily, to Master your FOREX Mindset!
PIP$ TIP$: How many titles to murder shows/series did you find in this article? The answer is 8. Is 8, too many trades for you to hold in a single trading session?
PROFIT$ PRO$: Never QUIT. I have chosen this journey to help my reality purchase my dreams.
POWER POINTER$: Today, I will purchase the PIPS PROFITS AND POWER FOREX 2-Book Bundle Pack to build, strengthen, and MASTER my Mindset.
Mindset Mastery: How do you manage your MINDSET? Answer: I use any tools in Mindset Mastery that I need at any given time. I re-read the chapter on Women In FOREX, (For Your Eyes Only), in Pip$ Profit$ and POWER FOREX Mindset Mastery to write this article.
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