Trading Psychology and Self-Reflection

Never be too proud that you are unwilling to point out your flaws.  In this article, you will see a number of examples where I have called out flaws in my trading.  This is both therapeutic and also forces me to realize that my issues have little to do with my system and more around how I mentally approach the market.

If you approach the market from a negative perspective, you will lose money.  Negative does not mean you expect to lose, but you may have a lot of fear in your trading or have not fully accepted the risk.   Reviewing your equity curve and keeping a trading journal will help you navigate times when you fall off the rails.

Develop a Winning Attitude

I have had streaks of 14 or more winning trades in a row.  When you are in the zone it is the best feeling in the world.  It’s like you and the market are 100% connected and the money falls into your account.

You can only get to this mental place if you approach the market with a can-do attitude.  This does not mean you approach the market with an “I am right” attitude, but you fully accept that you will get whatever the market is willing to provide.

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MONEY
MOVING

by WooHoo Ireland

+353-214-651-000

Woooo Fx Education

Camden Street Lower, St Kevin's, Dublin 2, Ireland D 02 XE 80 | +353-214-651-000 |info@woohooai.com

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Trading in leveraged currency contracts comes with substantial risk. You must be aware of these risks before opening an account to trade. High leverage amplifies gains as well as losses, leading to potential loss of the entire account balance. Trading in leveraged currency contracts may not be suitable for every investor. Never speculate using money that you cannot afford to lose.

© 2019 by WoOHOo Fx. Proudly created with WoOHoO AI Ireland

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