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Daily Briefing-Section 3: Self-Analysis

FOREX ONLINE COURSES RAMANATHAPURAM, FOREX PRICE ACTION RAMANATHAPURAM, FOREX TRADING STRATEGIES RAMANATHAPURAM, FOREX TRAINING COURSE RAMANATHAPURAM, FOREX TRAINING COURSES RAMANATHAPURAM

Section 3: Self-Analysis

FOREX ONLINE COURSES RAMANATHAPURAM, FOREX PRICE ACTION RAMANATHAPURAM, FOREX TRADING STRATEGIES RAMANATHAPURAM, FOREX TRAINING COURSE RAMANATHAPURAM, FOREX TRAINING COURSES RAMANATHAPURAM

While you are trading it is important to be as objective as possible. There will be times that you are just not in sync with the market, in these days you are likely to take big losses because you just don’t feel comfortable, you will feel any adverse move is personal, and you are more likely to take irrational decisions based on emotions.

In order to be objective you need to be stress-free. The stress that comes from external problems such as debts, marital problems, a cold or illness, etc., usually make us behave differently than when we are in a stress-free state of mind.

Without stress we act according to our plan, because nothing bothers us, we just let the market express itself, and profit from trading opportunities. On the other hand, when we are influenced by external factors, we are likely to act out of anger, revenge or plain lack of thought or attention.

How do we know we are being objective?

Conducting a self-analysis is the best way to determine whether we are being objective or not. Before our trading session begins ask yourself how am I feeling today? If you are not feeling good, then try not to trade, take a walk or a ride, and think about it, then come back when you feel better and start trading.

There are times that you just don’t feel like trading, even if you have no external distractions. These are also times to not take any trade, you will feel out of sync with market, and you are likely to make common mistakes such as letting your losses get larger than life, chase the market, etc.

Monitor yourself, whenever you get in the market, ask yourself, is this my trigger signal? Is my set-up present? Monitoring yourself will help you avoid costly trading mistakes.

There will always be other opportunities so do not be afraid to take a break or walk away if you sense you are not at your peak

TAGS:FOREX ONLINE COURSES RAMANATHAPURAM, FOREX PRICE ACTION RAMANATHAPURAM, FOREX TRADING STRATEGIES RAMANATHAPURAM, FOREX TRAINING COURSE RAMANATHAPURAM, FOREX TRAINING COURSES RAMANATHAPURAM
04 Jun 2014 6:03 am Posted by tamilforex

 
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