What Does Forex Psychology Teach?

What Does Forex Psychology Teach?

Forex trading can be unpredictable. Many people coming to forex have great hopes. Sure, who does not dream of financial stability and independence? Everyone dreams of quitting his boring low paid job and become a forex trader. Why does forex attract so many people? There are many reasons some of them lie in the field of psychology. First of all, forex gives people the hope to get rich. Many people are greedy these days, so forex is the chance for them to become millionaires. Their main mistake is though inability to realize that there can be no easy money in forex.

Sometimes even experienced traders fail in forex. It does not happen due to lack of knowledge and experience. Traders who spent several years in forex do have knowledge and experience. Sometimes they fail because of greed and disrespect to forex psychology.


What is forex psychology anyway? This science is not lectured in the Universities. You will not read much of it in the books, although there is much information about it on the Internet. Anyway, forex psychology is very important both for beginners and seasoned traders.

What does forex psychology teach? Forex psychology teaches to master emotions. There is nothing worse than emotional forex trading. When you are angry you forget about everything. You do not mind economic indicators. You forget about market drivers. All you remember is that you need to earn money. But you totally forget about analytics. When you are too excited you cannot make reasonable decisions. Thus, you open positions not because your strategy suggests so but because you want to become a millionaire. Some traders picture in their minds cars and houses they will buy after big wins that usually never happen in their career.

Forex psychology helps to fight illusions. Indeed, you can win in forex. But you should understand that in order to win big money you are to risk big money. With a $100 deposit you will not be able to become rich. A $100 deposit will help you learn and gain experience.

Forex psychology teaches courage. Some traders are so afraid to lose that as soon as they see they win 20 pips they quit the market although they could stay and get 100 pips. But they prefer to close position because their have prior negative experience.

Forex psychology teaches to fight your greed and set realistic goals. Greediness is what makes most traders fail in forex. It is never enough. Everyone wants to earn more money. Well, some traders do succeed once or twice. That is called good luck. But short term losses mean nothing. You are to win in the long term.

Thus, forex psychology is extremely important for all traders.

This entry was posted on Saturday, March 27th, 2010 and is filed under Advice, Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

62 Responses to “What Does Forex Psychology Teach?”

  1. forex video training on April 1st, 2010 at 9:51 pm

    This blog has provided me with the information I was looking into in regards to forex

  2. Blythe Ludvik on April 13th, 2010 at 9:54 pm

    Thanks very much, I’ve found this info very good!

  3. pharmacy technician jobs on April 22nd, 2010 at 1:13 am

    Great site. A lot of useful information here. I’m sending it to some friends!

  4. best cash back credit card on April 22nd, 2010 at 11:26 pm

    It is excellent to have the chance to read a good quality article with useful information on topics that a lot are interested on. The fact that the data stated are all first hand on live experiences even aid more. Go on doing what you do as we love reading your work.

  5. Misty Carbajal on April 23rd, 2010 at 9:32 am

    This is really a awesome article, Since i have now performed rather a chunk of researching of late and consequently i need to claim it is good to identify some different and even factual reading instead of the type of cloned spam which unfortunately is spread all throughout the web. I pray there is a whole lot more to come and i will be sure to visit back again soon enough and bring in your rss feed

  6. Taryn Letbetter on April 24th, 2010 at 1:07 am

    I wish more people would write blogs like this that are actually fun to read. With all the fluff floating around on the internet, it is a great change of pace to read a blog like yours instead.

  7. Fat Burning Furnace Review on April 25th, 2010 at 11:01 pm

    One of my friend told me about youe website yesterday.I guess he tried some of your recommendations and was actually happy to see some money rolling.we will be having some meeting today after university lectures,so as soon as i will find him.I am gonna learn the same tip what you gave to my friend.Thank you for helping us to have some money online.

  8. casino en ligne on April 27th, 2010 at 9:40 pm

    casino en ligne…

    Visitez le Tamastslikt Cultural Institute….

  9. wind generator on April 28th, 2010 at 11:55 am

    Thanks for sharing the information. I found the information incredibly helpful.

  10. veterinary technician on April 29th, 2010 at 4:20 am

    What a great resource!

  11. homegym on May 23rd, 2010 at 6:33 am

    thanks!You made some good points there. I did a search on the topic and found most people will agree with your blog

  12. Tyson F. Gautreaux on May 23rd, 2010 at 11:49 pm

    As i am starting out on forex i think i need to play the local market first as i don’t want to mess up.Forex seems very complicated for so but would appreciate some input in this matter as i don’t want to burn my fingers

  13. Bob on May 25th, 2010 at 5:32 pm

    Ho..That’s right,got it

  14. Bolton on May 25th, 2010 at 6:58 pm

    Haa…very nice

  15. super sex on May 26th, 2010 at 6:56 am

    This is my second visit to your blog. We are starting a brand new initiative in the same niche as this blog. Your blog provided us with valuable information to work on. You have done a marvellous job.

  16. detox foot spa on May 27th, 2010 at 1:19 pm

    Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  17. locksmith on May 27th, 2010 at 6:35 pm

    I never, ever would have imagined I would be required to be familiar with this, but thank goodness for the internet…

  18. AgnesPhillips on May 28th, 2010 at 4:27 am

    When you are in not good state and have no money to move out from that point, you would have to receive the loans. Because that would help you unquestionably. I get bank loan every single year and feel myself great because of this.

  19. Gaines on May 28th, 2010 at 8:18 am

    I love forex trading.

  20. Blake on May 28th, 2010 at 10:22 am

    I love forex trading.

  21. detox foot spa on May 28th, 2010 at 2:10 pm

    Between me and my husband we’ve owned more MP3 players over the years than I can count, including Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, etc. But, the last few years I’ve settled down to one line of players. Why? Because I was happy to discover how well-designed and fun to use the underappreciated (and widely mocked) Zunes are.

  22. Palma on May 30th, 2010 at 3:26 pm

    You did a good job.

  23. Emmitt Markwell on June 4th, 2010 at 5:08 am

    cheers very much, I have to say your site is excellent!

  24. Austin Shimer on June 7th, 2010 at 10:28 am

    well done!nice job!

  25. Adams Salemi on June 9th, 2010 at 1:20 pm

    This is really a awesome article, Since i have now performed rather a chunk of researching of late and consequently i need to claim it is good to identify some different and even factual reading instead of the type of cloned spam which unfortunately is spread all throughout the web. I pray there is a whole lot more to come and i will be sure to visit back again soon enough and bring in your rss feed
    +1

  26. Channel 131 on June 15th, 2010 at 1:04 am

    Interesting, I’ve been reading a lot about this lately.

  27. couples resorts on June 15th, 2010 at 11:06 am

    Found this very helpful, many thanks for posting this.

  28. rockhopper tracker on June 16th, 2010 at 2:26 pm

    Cool, never knew that! Lately I’ve been reading a lot on this.

  29. условия установки газового котла on June 17th, 2010 at 11:32 am

    ок вот то что искал

  30. forex trading robot on June 25th, 2010 at 1:18 pm

    Recently, I did not give whole lot thought to commenting on weblog articles and have left feedback even less. Viewing your useful piece of writing, might inspire me to do this again.

  31. Forex Trading system on June 25th, 2010 at 3:11 pm

    howdy there, i just found your website via google, and i must say that you compose interestingly good on your blog. i am actually taken by the way that you compose, and the message is good. anyhow, i would also love to know whether you would like to exchange links with my web portal? i will be more than happy to reciprocate and drop your link on in the link section. anticipating for your response, thanks and have a great day!

  32. Ella Keehner on June 28th, 2010 at 12:42 pm

    I felt like I was listening to a friend when I read your story posted on your blog.

  33. HENRY on July 1st, 2010 at 6:21 pm


    Pillspot.org. Canadian Health&Care.Special Internet Prices.No prescription online pharmacy.Best quality drugs. Online Pharmacy. Buy drugs online

    Buy:Synthroid.Retin-A.Accutane.Human Growth Hormone.Mega Hoodia.100% Pure Okinawan Coral Calcium.Prednisolone.Zovirax.Lumigan.Prevacid.Arimidex.Valtrex.Petcam (Metacam) Oral Suspension.Nexium.Actos.Zyban….

  34. Super colon cleanse on July 19th, 2010 at 8:39 pm

    I dont know what to say. It is definitely among the superior blogs Ive read. Youre so insightful, have a lot true things to bring towards the table. I hope that far more persons understand this and get what I got from it: chills. Good occupation and fantastic weblog. I cant wait to examine additional, continue to keep them comin!

  35. sytropin on July 20th, 2010 at 3:19 pm

    Great overall website! Can you tell me how to eliminate spam on mine?

  36. GHD Radiance Benefit Set on July 21st, 2010 at 10:42 am

    Love is an active power in man, a power which breaks through the walls which separate man from his fellow men, which unites him with others; love makes him ovrecome the sense of isolation and separateness, yet it permits to be himself, to retain his integrity.

  37. MBT Sport Shoes on July 21st, 2010 at 12:52 pm

    Do not know how high the sky is until one climbs up the tops of mountains,and do not know how thick the earth is until one comes to the deep river.There is only one success— to be able to spend your life in your own way.

  38. locksmith on July 24th, 2010 at 6:18 am

    I was very pleased to find this site.I wanted to thank you for this great read!! I definitely enjoying every little bit of it and I have you bookmarked to check out new stuff you post.

  39. America’s Got Talent Results – 2010 on July 24th, 2010 at 10:55 am

    Hey – nice blog, just looking around some blogs, seems a pretty nice platform you are using. I’m currently using Wordpress for a few of my sites but looking to change one of them over to a platform similar to yours as a trial run. Anything in particular you would recommend about it?

  40. washing soda on July 24th, 2010 at 6:54 pm

    Hi, this blog is very usefull and i like this blog so much.i’ll share this blog on my facebook page.

  41. Alcohol Centres on July 24th, 2010 at 9:49 pm

    Superb reference, thank you for sharing! Good luck.

  42. Kim Kardashian Website Official on July 27th, 2010 at 1:01 pm

    Thanks for posting this info. I just want to let you know that I just check out your site and I find it very interesting and informative. I can’t wait to read lots of your posts. . . .

  43. kimberly phillips dailymotion on July 27th, 2010 at 1:27 pm

    This is such a great resource that you are providing and you give it away for free. I love seeing websites that understand the value of providing a quality resource for free. It?s the old what goes around comes around routine. Did you acquired lots of links and I see lots of trackbacks??

  44. Revenge Of The Bridesmaids ABC on July 28th, 2010 at 10:20 am

    I am really thankful to the author of this post for making this lovely and informative article live here for us. We really appreciate ur effort. Keep up the good work. . . .

  45. Armando Codina on July 28th, 2010 at 9:05 pm

    Finally have all the info I need for my research, great post!

  46. lenen zonder bkr toetsing on July 29th, 2010 at 2:52 pm

    Lenen Zonder BKR Toetsing Lenen zonder BKR toetsing stijgt in populariteit op het Internet. Veel mensen met een zogeheten BKR notatie, die toch geld willen lenen zijn op zoek naar …

  47. ibiza holidays on July 29th, 2010 at 7:02 pm

    I have Tweeted this, I will keep reading other posts. Its Vacation time have you tried a Ibiza? if so where did you stay

  48. All inclusive family vacations on July 29th, 2010 at 8:41 pm

    All times that I came here, my interest in your site increase very much.

  49. migraine on July 30th, 2010 at 9:48 am

    Hoewel migraine op elke leeftijd voor het eerst kan optreden, begint dit type hoofdpijn meestal tussen de tien en veertig jaar. Bij de meeste mensen treedt

  50. cheap all inclusive cruises on July 30th, 2010 at 9:54 pm

    I have a different point of view, you can go to my blog to see I have a different point of view, you can go to my blog to see and exchange of views

  51. The Sorcerer's Apprentice The Movie on July 31st, 2010 at 4:54 am

    Thanks for the sharing really usefull. I would like to bookmark this site.

  52. Silibil n Brains on July 31st, 2010 at 5:02 am

    Aw, this was a really quality post. In theory I’d like to write like this too – taking time and real effort to make a good article… but what can I say… I procrastinate alot and never seem to get something done.

  53. tempe town lake dam break on July 31st, 2010 at 7:57 am

    I’ve really enjoyed reading your articles. You obviously know what you are talking about! Your site is so easy to navigate too, I’ve bookmarked it in my favourites. . . . .

  54. adventure travel tips on July 31st, 2010 at 10:40 pm

    I agree it is very well done. Glad you found it useful.

  55. Katheryn on August 12th, 2010 at 6:27 pm

    Very educating write up, saved the website for interest to see more!

  56. Annunaki on August 13th, 2010 at 5:49 am

    I typically don’t comment on websites but you have some good readable material.

  57. mitzi kapture bio on August 13th, 2010 at 11:32 am

    Considerably, the blog post is actually the greatest on this worthy topic. I concur with your decisions and will thirstily look forward to see your approaching updates. Saying thanks will not just be adequate, for the phenomenal lucidity in your writing. I will at once grab your feeds to stay informed of any updates. Delightful work and much success in your business endeavors! Have a nice day

  58. the truth about abs on August 25th, 2010 at 2:36 am

    Beautiful blog with nice informational content. This is a really interesting and informative post. Good job! keep it up, hope to read your other updates. Thanks for this nice sharing.

  59. free registry cleaner on September 2nd, 2010 at 10:16 am

    Very insightful. I like the way you write. Do you provide an RSS feed?

  60. earn money online on September 3rd, 2010 at 7:45 pm

    Hi Site owner. I really just like that writing as well as your web page all in all! Your write-up is extremely plainly created as well as effortlessly understandable. Your Blog theme is wonderful as well! Would definitely be good to learn where I are able acquire this. Please keep up the excellent work. We all need more these types of web masters such as you on the net and also much less spammers. Wonderful man!

  61. Forex Profits Banker Review on September 4th, 2010 at 5:55 am

    Hi Web site owner. I seriously like the particular posting and also your site all in all! That write-up is actually extremely plainly written as well as very easily understandable. The WP design is amazing as well! Would be awesome to learn exactly where I are able acquire it. Please continue to keep up the excellent job. All of us require a lot more this sort of webmasters like you on the internet and also much less spammers. Fantastic friend!

  62. craig ballantyne on September 4th, 2010 at 11:53 pm

    Thank you so much for writing all of the awesome info! I am looking forward to seeintg more posts.

Leave a Reply

Sponsors

Blogroll

Advice Todays

Make sure you get your savings account from Egg bank today For expert debt advice, visit debtadvicenow.co.uk Business coach, Brad Sugars, and entrepreneur Fast cash now is available online as a form of cash loan upto $1,500 securely online by CashNow.com.

Crude is trading around $82

Crude hovered around $ 82 a barrel, while we await the release of U.S. jobs report later in the day, where there is a strong influence on trade, particularly in the meeting of the United States.

Today, crude oil traded above $ 82 a barrel, the highest about $ 82.65 and $ 81.87 lowest round as he is currently trading around $ 82.10 per barrel recorded.

Dealers are looking forward to the relationship between employment in the United States scheduled for later today, published. The Labor Department is expected that 90 000 workers, recruited by private employers in July, higher than that employed 83,000 in June, where the unemployment rate expected of 9.5% to 9.6% because of layoffs and major task to get an aggregated view of the image, to the non-agricultural wage and salary payments expected to demonstrate a loss of 65,000 jobs.

Crude yesterday traded more than $ 82 per barrel to the highest around $ 82.40 and $ 81.55 per barrel, the lowest round and closed to grasp at $ 82.15 per barrel. She made it to $ 0.46, that the margins of optimism in the market due to the rising expectations of the loss of U.S. jobs report, and more equity and €.

Similar to the NYMEX as Clock 03:15 ET, motor gasoline fell to $ 217,040 per gallon to a record high of $ 0.28, heating is trading around $ 219,610 per win $ 0.43 gallon, while natural gas rose to $ 0.54 per 1,000 cubic meters record to $ 4,623. London Brent crude futures rose to the taking of about $ 0.32 to $ 81.870.