
		HOME \| Membership Websites \| SMM Solutions \| CRM Solutions \| Online Training Systems \| Publishing \| Clients \| Guarantee \| Log In

Forex Trading And The Obsession To Win.

Submitted by Janeane Carnagie | RSS Feed | Add Comment | Bookmark Me!

Forex trading is one of the great money making opportunities available these days. People from many walks of life, men and women, decide to join the forex trading world everyday looking for the great style of life a profitable forex trader can achieve.

But Forex trading is also a war where you can lose your money and confidence if you are not wise enough in your battles against the market, a wise, often formidable and even brutal enemy.

There is an old saying by the Chinese military genius, Sun Tzu that says, “the obsession for victory is a state of mind that benefits the enemy”. And these wise words apply without any doubt to the world of forex trading. In the war with the markets nothing is more damaging to a trader than “the obsession with victory”.

There are many new traders that think they must never close a trade until it will turn into a profitable one; or think their predictions based on a particular indicator and technical analysis will always be right and the forex market will start behaving in the way they had predicted in any moment, no matter if the charts clearly indicate that it's not doing it and the margin of the account is getting depleted.

This is, in no way, a wise forex trading strategy; it is not a wise war strategy. With that behavior you will only be giving free money to the markets, i.e., you will be defeated by your own obsession with being profitable even if everything is going against you indicating you must close the trade or tighten your stops.

So, never fall for obsession when trading the forex markets; nothing good can result from this behavior. You must always place your stops according to your tolerance level and be wise with your indicators. Remember they can fail you. They mostly tell probabilities and when dealing with probabilities there is always room for strange behaviors that won't agree with what you were expecting.

My recommendation; be wise, use your criteria and never ever obsess with a trade.


Contact Us Support and Sales

LinkedIn Recommendation:

Demetrius Reardon - Search Engine Optimization Manager at Blue Galaxy Marketing - I just attended Teo's LinkedIn workshop and am getting more information on how to use it. Great stuff. He told us everything there was to know about LinkedIn in one sentence. Then went into details, then added some optional ways to use it, just so much information so quickly... I had a little trouble keeping up, but he kept coming back to that one sentence to show how it all fits. It really is easy! Love Teo's style! He's got a lot of energy and would love to meet him in person someday! - March 17, 2012, Demetrius was Teo's client

Featured [Currency Trading] Articles:

Net-Teams - Helping Businesses Prosper With Custom CRM, SMM and Online Training - Net-Teams, Inc. (NTI) is a technology and marketing firm and offers access to a core set of system t...

The Benefits Of A Membership Program For Your Website - Building membership through your website allows you to automate the acquisition of prospects and cus...

eWorkshop Hosting - The More Effective Way to Build Your Business with Online Ed - More and more companies are using eWorkshops to reach out to customers, prospects and employees. An ...

eWorkshop Publishing From Net-Teams - As many people are discovering, self-publishing is a time consuming venture, which takes time away f...

What is Social Media Management And Why Is It So Critical? - Whether or not you have a customer relationship management (CRM) system in place, there is one key r...