Why Don't You Get a Life.
Trading foreign currencies isn’t the easiest business to get involved in, especially for beginners or those with limited trading experience.…
About Pipsychology
If you can't keep your emotions in check when trading, you will lose money. Lots of it. Pipsychology was created to help minimize this from happening to you. The most significant action that you can do to improve trading profits is to work on yourself. Really knowing yourself and how you think can give you an edge that others in the market don't have. My goal is to share practical advice to improve your forex psychology without boring you to death. Hopefully you can develop the mental edge you need to become the best trader you can be.
October 2009
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Pipsychology
Forget that Perfect Trade
When you're risking your own money, do you feel the need to find that secret information that nobody yet knows or find the perfect trade setup? …
Forex Trading Success Basics
If you want to make money trading forex and consistently make money trading forex, it's important to review proven trading methods and techniques on a regular basis. …
Don't Overtrade
Don't overtrade. Focus on the quality of each trade, not on the quantity. One of the hardest lessons for a trader to learn is not to overtrade.You will lose BIG if you continue to overtrade.…
Are you a trader or gambler?
Why do you trade? Let me guess...Because you want to make a crapload of money and be able to buy anything you wish? While this is a perfectly valid reason, it will most likely lead to excessive greed and ultimately lead to your trading account's destruction. …
Concentrate or Lose Money
You can be highly motivated to trade, have abundant capital, and a dummy-proof trading system, but if you don't apply your FULL concentration to the trade that you have on at the moment, you'll rarely make profits.…
Forget that Perfect Trade
Some traders are so obsessed with trying to find the perfect trade that they end up not trading enough to come out profitable. Trading is not the line of work you want to be if you're a perfectionist. …
100% Responsibility
Just like in life, as a trader, you must be the only one responsible for your own decisions and actions. You're the only one who has to live with the consequences of the decisions that you made. …
Acting on Impulse
Have you ever ditched your trading plan? If not, you should read this anyway because you're most likely lying. If you have, why do you think you're so "unfaithful"?…
Be Humble
Almost everybody is familiar with Muhammad Ali. He is known as one of the greatest, if not the greatest boxer ever. And while he was well known for his boxing skills, he was equally famous for his proud and showy behavior. But if Ali was a forex trader, he probably would've been knocked out quickly and had his wallet emptied...by the market. …
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