If you were to examine Forex trading from a distance and time perspective a few obvious observations will quickly surface.
1. In any trade there are 3 possible outcomes. You will either be up, down or even. That’s it! Simple
2. If you can be profitable 55% of the time you will be successful.
3. The market doesn’t know you, doesn’t know what position you took and it’s not out to get you. The quicker you can dispense with this distraction the more time you will have to focus on what matters.
4. This is similar to Point 3 with some stark differences. When you are on a run and everything is going your way keep in mind this does not make you a genius nor lucky. It’s how markets function and a skilled trader is able to operate rationally in periods of organized chaos.
5. You will have losses. It’s part of the trading experience. You must be prepared to accept them and more importantly learn from them.
Admittedly there are more points than these and you should take opportunities to learn them. However these are sufficient.
Ivan Cavric
Excerpt Taken From
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