The Psychological Perspective

Your first resolve should be to determine precisely what you want to achieve. Get your pen and a notebook and write it down. Be as detailed as you can as this will go a long way to help you eventually in your performance. You should ask yourself the following pertinent questions:

· Do I want to live off my trading?
· Is this just another means of income?
· Am I trading Forex because I think it is an easy way of making money?
· To make me financially independent?
· Is it flexibility?
· Financial freedom? And a host of other reasons

Whatever your reasons are, they must be clearly stated.

Before you start to trade each day, make sure you take a few minutes to assess your goals. This will help you keep your goals in mind as you trade, which will ensure that the larger picture is not forgotten since one can be all wrapped up in the emotion of the moment. Having a few minutes of review before the day starts helps you focus on your goals.

Be cautious of GREED. This is one of the deadliest sins to commit in Forex trading. I can boldly testify to that. Greed can cause you to operate unwisely and irrationally. Set your goals for the trading session, achieve your goals and be grateful for another day of successful trading.

MORE HERE

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the first NFP for the year has finally come and gone. hopefully the markets will have a clearer direction from next week