10% Skill 90% Mindset

ForexViking

Private, 1st Class
Messages
31
Never forget this....work on the mental side!
Would agree with this. I read everything I could on forex analysis, systems and strategies and found the number one reason for my loosing trades was my mindset. I would watch trades and worry about my money being risked and now I just set my stops and leave the trades alone to play out :)
 

RachelEB

Private, 1st Class
Messages
48
Mindset is the key, the ABCs of trading are really quite straight forward, but implementation is determined by your mindset, and that is the key to success or failure
 

bigdolly

Sergeant Major
Messages
868
Mindset is the key, the ABCs of trading are really quite straight forward, but implementation is determined by your mindset, and that is the key to success or failure
What do you mean by mindset? I think it is very elusive concept there are no precise rules for getting correct mindset and avoiding a wrong one.
 

DaveT

Sergeant
Messages
138
What do you mean by mindset? I think it is very elusive concept there are no precise rules for getting correct mindset and avoiding a wrong one.
That's why it's hard to master. The goal in my opinion is to get to a point where you trade robotically and emotionless
 

Clay Davidson

Recruit
Messages
44
I believe that is really important but don’t underestimate the power of skill. In forex having a clear mind is very very very important, no one can deny this truth. But many of the traders who don’t succeed in this business lack the good skill or strategy to survive in this market. The biggest enemies in this market (as big names suggest it) are fear and greed. When you fear you may lose what you earned and you close your trade early, or when greed doesn’t let you close a trade on time and a winner trade turns to a loser, so sad.
 
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