The success of speculation in the forex market largely depends on the ability to remain calm in any situation, no matter how difficult they may be. For example, according to the principle of the need to close a position after achieving the expected profit or expected loss or only after a certain period of time, a trader must often sacrifice part or all of the potential earnings to minimize risk.
It takes from a trader a certain psychological flexibility. In "The memoirs of the market trader" E. Lefevre writes: "There is something unnatural about speculative trading because every average trader meets himself with weapons against his personal success."
- Of course, regular work in the financial market can affect your personal life. Please note, how you show yourself in a stressful situation. If you are long enough (3-5 years) in trading, then I'm sure your reaction will be different from the reaction of ordinary people.
Lefevre gives the example of James Robert Keenan (1838-1913), who was a well-known Wall Street trader and controlled the capitals of JP Morgan and W. Rockefeller. When Keenan succeeds in the market, he gets irritated and quite sarcastic about everything.
When he loses money in his market deals, he is left in a good mood. He is a very polite, charming and intelligent socialite.
The conclusion we can come to after studying the biographies of some well-known professional traders is quite clear - easy money doesn't exist anywhere. Despite the fact that the financial markets offer great opportunities to increase your capital, the price for this is constant and painstaking work.
So, we can only wish you luck in this way.
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