Mental strength

[dianajs]

Knowledge has little to do with emotions. You can be very well-educated by your reactions to stress is not something you can learn from books. Though you can apply knowledge for developing your trading plan, before you trade and this will help you to take emotions under control.

I agree. Emotionals are irrational. Sometimes knowledge gives a person confidence and that helps when they trade, but other people may not have the same reaction.

 

[EURUSD]

I agree. Emotionals are irrational. Sometimes knowledge gives a person confidence and that helps when they trade, but other people may not have the same reaction.

If on trading we only following with our emotion I think will often making our trading being mess because we can`t making good plan trading and usually will only trading blindly without proper plan and hope will get quick profit, indeed on certain time if get profit it felt easy, but when facing with worst condition, often loss hence emotion will fire our account

 

[audrey collins]

Not just forex but having a strong control over your mental state is important in day to day life also. Mental strength gives you the ability to exercise control and restraint whenever you tend to get too greedy for profits. This is very important in forex trading as your patience will be tested many times. You should know when to stop. It also helps you cope with the stress of losing trades so that next time you trade more prudently and wisely.

 

[dianajs]

Not just forex but having a strong control over your mental state is important in day to day life also. Mental strength gives you the ability to exercise control and restraint whenever you tend to get too greedy for profits. This is very important in forex trading as your patience will be tested many times. You should know when to stop. It also helps you cope with the stress of losing trades so that next time you trade more prudently and wisely.

I agree. What advice would you give regarding developing such strength though?

 

[audrey collins]

I agree. What advice would you give regarding developing such strength though?

Understand that nothing is permanent in forex or in life. And look beyond forex also as there are so many other beautiful and interesting things. I am not undermining forex here just saying that enjoy all aspects of life. Sometimes in order to earn a few extra dollars traders end up losing much more than that. Don’t let it become an addiction. Talk to family and friends. In the end keep a happy and positive attitude! A little meditation can also help. It is not easy but it will come with time and practice.

 

[dianajs]

Understand that nothing is permanent in forex or in life. And look beyond forex also as there are so many other beautiful and interesting things. I am not undermining forex here just saying that enjoy all aspects of life. Sometimes in order to earn a few extra dollars traders end up losing much more than that. Don’t let it become an addiction. Talk to family and friends. In the end keep a happy and positive attitude! A little meditation can also help. It is not easy but it will come with time and practice.

I agree. It's important to trade to live, not to live to trade. And one should always know when and how to take a break and enjoy life.

 

[tomhiggs]

Totally agree with everything you have said @audrey collins
Sometimes we have to detach trading in order to attach with the surroundings, nature, family, Creator, friends. One cannot trade and please family and surroundings at the same time.
It's sad that people took this a very serious road and ditch the sweeter life.

 

[dianajs]

I think it is possible to find a balance between the two - family and trading - but it requires a lot of disciple.

 

[Addam]

Trading is the job for the people who are mentally strong enough to deal with the pressure situation while trading. Predictions of anyone can go wrong here on the Forex market. So, you have to prepare well for covering up your losses with sound behavior. Am I right?

 

[audrey collins]

I think it is possible to find a balance between the two - family and trading - but it requires a lot of disciple.

Yes a balance between personal life and trading life is very much essential but very difficult to attain and maintain. But still we should keep trying. One day we'll get there.