A piece of the pie
Hey Eric your last message is one of the major psychological issues to overcome in trading. I don't remember if we went over this during training, but I thought it might be useful for some of the readers here.
There will never be a trade where you realize profit on the entire movement and while we all know this, if we don't put it into perspective it can negatively affect our trading in the long run. How I overcame seeing a trade go to profit and then watching the pair continue in my direction for another 100 or even 200 pips is
1. Don't watch it, walk away and forget about it right then, start thinking about the next trade setup, look at other pairs, watch tv, go do some target practice- hopefully a squirrel touches the bird feeder at that moment, haha.
2. I use this analogy in my own trading and in teaching others- The forex market is a huge pie, a pie for giants(governments, banks, large corporations), there is no way we could handle that pie even if we could hold it. Us little guys are just trying to sneak in and grab a little piece of the pie, if we can get a piece of the pie every time, we will live very well! We don't need the whole pie. We can become very rich and satisfied on a piece of this pie. Also remember that the majority of the little guys not only do not get a piece, but actually have to give a piece of their personal supply.
Hey Eric your last message is one of the major psychological issues to overcome in trading. I don't remember if we went over this during training, but I thought it might be useful for some of the readers here.
There will never be a trade where you realize profit on the entire movement and while we all know this, if we don't put it into perspective it can negatively affect our trading in the long run. How I overcame seeing a trade go to profit and then watching the pair continue in my direction for another 100 or even 200 pips is
1. Don't watch it, walk away and forget about it right then, start thinking about the next trade setup, look at other pairs, watch tv, go do some target practice- hopefully a squirrel touches the bird feeder at that moment, haha.
2. I use this analogy in my own trading and in teaching others- The forex market is a huge pie, a pie for giants(governments, banks, large corporations), there is no way we could handle that pie even if we could hold it. Us little guys are just trying to sneak in and grab a little piece of the pie, if we can get a piece of the pie every time, we will live very well! We don't need the whole pie. We can become very rich and satisfied on a piece of this pie. Also remember that the majority of the little guys not only do not get a piece, but actually have to give a piece of their personal supply.
