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Forex Trading: Victory Psychology Part 2

What motivation is necessary to pass through a thorny road?

At some stage, traders are involved in this game because of money which can be earned. But money separately isn’t sufficient motivation. All good traders LOVE this game in itself. That money that pays for it is simply the award. This love to game is included in vision of that we want to reach as a result of our trade, and this vision – a guiding star which will show us away on a thorny way. It is needless to say that for successful traders trade it is simple pleasure.

I. the necessary element of Victory Psychology.

In the basis, the Victory Psychology has “trade result accepting”. Under accepting it is meant to know capability about emotions without “involving” in them; some can name it “attentiveness”.

Compare:

Present that you have just entered trade, and the following bar is a bar with the big range against your position:

1. My God, I have again gone here! Really I can’t do something correctly! Probably, I should move my stop? No, I can’t make it – last time it costed me my account! But what about other day when I have been stopped also a rate has gone in my direction? It is too difficult!!!!» Etc., etc.

2. The market comes nearer to my stop. I feel inconveniently at this succession of events, but there’s nothing to be done.

The first trader can think that he has accepted results, but actually he was unable make so at emotional level; the second dealer has accepted result at all levels.

This idea concerning result accepting is applied not only to losses, but also to profit too. The trader who “accepts” result understands that the positive result of one transaction doesn’t lead to the future unlimited profit.
In the basis of “accepting” is that trade is based on probabilities, also as that each transaction is unique. In other words, the past isn’t equated to the future.

II. Determination of necessary personal qualities

If we have to acquire “Accepting” some personal qualities are necessary:

* Understanding – capability to observe at yourself from outside. If we can do it more effectively then our promotion to “Accepting” will be especially easy.

* Honesty – capability to search to perceive the validity, despite our filters.

* Bravery – readiness to endure a pain caused by our understanding and honesty.

* Compulsion – readiness to do that is necessary for achievement of our purposes.

For those who want to participate in forex trading must start from learning the basics of this market to make sure you do not experience problems with this industry.

There is another option – you can hire professional traders to do this job for you – read more about forex investment here. Also make sure to search for the knowledge in a good forex book.


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