Don't Be Emotional In Forex Trading

Do you know that you can tell instantly who will make money and who will lose money in the forex market? It's real simple... just look at a the trader, as he/she is placing a trade. You don't have to know anything about trading. Just look at the expression on their faces.

What kind of a reaction do they have when they are either winning or losing money on a trade? If you see a trader who is going through the entire range of emotions, living and dying with every single pip move, I can GUARANTEE you that you are looking a trader who will end up withdrawing less money from their account than they put in. I don't care how good of technical analyst they may be.

On the other hand, show me a trader who is fairly even-keel throughout the entire process, no matter whether they are winning or losing, and I'll show you a trader who is going to have a successful career in this business. It's real simple... if you treat it like a business, then you'll do well. If you treat trading like a personal playing the slots in Vegas, then I wish you all the luck in the world, because you are going to need it.

Show me any professional golfer who throws a huge fit after a bad stroke or starts acting like Happy Gilmore after every great shot. They don't exist, because they understand the psychological process behind being a successful golfer.

But I can guarantee you if you go to your nearest golf course, there will be some guy cursing and yelling at himself for playing badly. Do you see the connection there? Look... everybody takes losses in forex. You have to accept that. If you can't, please don't bother opening up a brokerage account.

The thing to remember is that after a loss, all the yelling and screaming isn't going to magically turn that loss into a win. So, you are not doing anything constructive to make yourself a better trader. Diagnose the trade... see where you might have gone wrong, and learn from your mistakes.

Remember that having a forex trading career is a long process. If you are going to explode after every win or loss, you are not going to have enough fuel in the tank to make it in the long run. This is a marathon we are running, not a sprint.