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Thread: Forex Trading Mindset - Traits Hated in Society But Make You a Winner in Forex!

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    Default Forex Trading Mindset - Traits Hated in Society But Make You a Winner in Forex!

    If you want to win you need to have the right forex mindset, this means taking on character traits that would be frowned upon in society - but in forex can make you a big winner. Here are the character traits that if you take them on could lead you to forex trading success.

    1. Dont Mix or Listen to Anyone

    If ever you want to find forex traders who are losers visit a forum!

    If you are a successful trader you trade in isolation and dont listen or talk to anyone.

    In society, know that since stone age times grouping together has been essential for our survival and its seen man survive and prosper. Were a social animal and seek the reassurance of the pack.

    The problem is, if you start mixing and talking in forex trading, your emotions will get involved and you will lose.

    Fact is 95% of traders lose, so you gain nothing from others. Stay away from others and be a loner.

    2. No one Knows Better than You!

    Today, we tend to consult advice about everything and call for an expert if your foxing your car great but is there such a thing as an expert in forex trading?

    Maybe, there are people out there who will teach you to trade and give you forex education - but ignore the vast amount of so called experts who tell you they can give you success - they cant.

    All over the net, there are experts selling systems which have never been traded, new forex traders buy them and think there going to get rich - get real, no one can give you success, you have to work for it.

    In forex trading you are on your own and you know best - arrogant?

    Not at all, the fact is, in forex trading success comes from within and your on your own.

    3. Make your Own Rules

    In life were used to a structured society we know what time we need to be in work not to drop litter in public and to stop at red traffic lights but in the market there are no rules or structure and you have to operate in it.

    This causes traders problems, as they have to take responsibility for their actions ( and most traders hate doing this, preferring to blame their brokers, friends or the cat!), they have to make there own rules to survive in the anarchy of the trading environment.

    Your rules apply to you and you can do what you want - no one tells you what to do.

    Finally

    So there you have it youre a loner, a know it all - you decide what you want to do without anyone else telling you or laws you need to obey. In normal society you would have no friends at best and get locked up at worst!

    The fact is forex trading mindsets have to be completely different to our normal one and thats why so many traders lose - they cant change, if you can you can enjoy spectacular forex trading success.
    by:blogger.2bull.com
    Last edited by fxangel; 04-20-2008 at 12:04 AM.

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    Bullish soumyakhatri's Avatar
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    yes i know when i told all this to my friends they said its not easier t make money from home but i knew it is ...
    then i started this in demo and guess what i earned 900$ from this now my friends often visit my home and ask me to teach them...

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    I completely agree with all the points on how to be a successful forex trader.. its very important that a trader dont allow his thoughts to get mixed with others, what i do is to listen to some daily forex videos and see if it confirms with my views... if then i'll have more confidence in my trades... and one u are in that zone u can play the market accordingly and make lot of profits, u know exactly that the market will move from point a to point b and between this time is the best time to trade. It is also important they you dont tell people how much u make from the forex market.. coz they will not even be able to understand your language.

  4. #4
    seahawks90
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    i have red all the points and they all are very good especially the first one because it is very true that we must have to listen every person in this field but must have to obey our own mind , just try to take the knowledge from everywhere and make a great strategy by just adding your knowledge And its for sure that you will definitely gain good profit.

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    Good points mentioned in the thread. It has be noted that for traders to trade in Forex market one should have really strong mindset. Because if the technical knowledge contributes 20%, it would be your psychology and strong mindset that contributes the rest of it to be successful in Forex trading.

  6. #6
    seahawks90
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    Quote Originally Posted by ashvini View Post
    Good points mentioned in the thread. It has be noted that for traders to trade in Forex market one should have really strong mindset. Because if the technical knowledge contributes 20%, it would be your psychology and strong mindset that contributes the rest of it to be successful in Forex trading.
    I agree with you that if a trader have 20% technical knowledge of this field then the rest thing is depends upon your psychology of your mind and if you have good psychology then you can make good profit. And it become easy to some extent.

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