Mental strength

[William Barnes]

Without being industrious and skilled it is difficult to sustain or ensure a long comfortable trading life. For this reason; a greater mental strength is required from a trader's side. Because there will be many instance where a forex trader can lose money or even he may blow accounts due to many mistakes. But losing hope and being frustrated can't help a trader to become successful. Rather; with a proper education and hard work a trader can be able to overcome pessimistic situations.

So; a trader will require a greater control over emotions, like excessive joyous in the event of win which can lead to overconfidence or overreaction in lose which can lead to mental trauma and trader can further take wrong decisions out of frustration.

 

[dianajs]

Mental strength is trained like any other thing: through perseverence, discipline and self-reflection.

 

[EURUSD]

About psychology trading or mental strengh is important to running forex business, so many trader beginner at first time they reading information about forex might will very excited to spirit learn and practice, but when first time start on real account then fail or facing margin call account, if they having weak mentality hence will leaving forex, but different with trader that having strong mental hence they will keep learning from these experience

 

[Melvin Leon]

Yes mental strength is very important as forex trading is very important. Along with good knowledge and skills, mental strength is vital. You should have the ability to accept loss. It's the part of the game. You have to learn from the mistake.

 

[dianajs]

It's important, I think, to learn not just from the mistakes but from the things you did right too. If a strategy has gone well, note that down, remember it, it will have an excellent effect on one's morale and mental fortitude.

 

[nahiyar]

Your right trading is a confidence and will give you strength you will face market with strong nerves. Although mistakes can occur any time you bear loss in trading even but your skill and mental wellness will face all difficulties . it will give you a patience to bear difficulties as well as courage to work next .

 

[Addam]

A professional trader requires strong mentality to handle to pressure and uncomfortable period of time while his/her trading career. It is the psychology that is the deciding factor between a successful trader and a loser. You have to test your emotion strength before entering the market.

 

[alaska27]

State of mind in Forex is very important, despite of the fact that many traders don't think so and often trade influenced by different emotions that is lead to lose of deposit

 

[georgefx12]

good mental strength basically consists of managing your emotions

 

[TrapLok]

It's still very difficult for me to control emotions and worry about losing money on forex. Could you recommend me some special exercises for this?