http://www.babypips.com/blogs/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. en Copyright 2009 Wed, 11 Nov 2009 03:15:42 -0500 http://blogs.law.harvard.edu/tech/rss I was watching the Lakers play the other night on the tube. While I'm a big fan of Kobe Bryant, I was getting frustrated at him during the game because he seemed to, at least in my opinion, force too many shots. http://www.babypips.com/blogs/pipsychology/forcing_trades.html http://www.babypips.com/blogs/pipsychology/forcing_trades.html Wed, 11 Nov 2009 03:15:42 -0500 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? http://www.babypips.com/blogs/pipsychology/forget_that_perfect_trade_1.html http://www.babypips.com/blogs/pipsychology/forget_that_perfect_trade_1.html Mon, 05 Oct 2009 08:31:31 -0500 http://www.babypips.com/blogs/pipsychology/get_a_life_why_dont_you.html http://www.babypips.com/blogs/pipsychology/get_a_life_why_dont_you.html Mon, 14 Sep 2009 00:02:50 -0500 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. http://www.babypips.com/blogs/pipsychology/trading_success_basics.html http://www.babypips.com/blogs/pipsychology/trading_success_basics.html Wed, 12 Aug 2009 00:52:28 -0500 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. http://www.babypips.com/blogs/pipsychology/dont_overtrade.html http://www.babypips.com/blogs/pipsychology/dont_overtrade.html Tue, 14 Jul 2009 06:00:11 -0500 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. http://www.babypips.com/blogs/pipsychology/are_you_a_trader_or_gambler.html http://www.babypips.com/blogs/pipsychology/are_you_a_trader_or_gambler.html Mon, 15 Jun 2009 15:05:12 -0500 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. http://www.babypips.com/blogs/pipsychology/concentrate_or_lose_money.html http://www.babypips.com/blogs/pipsychology/concentrate_or_lose_money.html Mon, 18 May 2009 04:55:59 -0500 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. http://www.babypips.com/blogs/pipsychology/forget_that_perfect_trade.html http://www.babypips.com/blogs/pipsychology/forget_that_perfect_trade.html Tue, 28 Apr 2009 09:51:33 -0500 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. http://www.babypips.com/blogs/pipsychology/100_responsibility.html http://www.babypips.com/blogs/pipsychology/100_responsibility.html Thu, 02 Apr 2009 11:35:20 -0500 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"? http://www.babypips.com/blogs/pipsychology/acting_on_impulse.html http://www.babypips.com/blogs/pipsychology/acting_on_impulse.html Sun, 08 Mar 2009 04:08:45 -0500 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. http://www.babypips.com/blogs/pipsychology/be_humble.html http://www.babypips.com/blogs/pipsychology/be_humble.html Wed, 04 Feb 2009 11:32:47 -0500 It's easy to get caught up in daily defeats. Your trading strategy isn't working. You're losing money hand over fist even though you know your system works and you're following all the rules. Forex Reviews http://www.babypips.com/blogs/pipsychology/you_dont_have_to_win_every_battle.html http://www.babypips.com/blogs/pipsychology/you_dont_have_to_win_every_battle.html Sun, 25 Jan 2009 14:42:10 -0500 Many years ago, horsemen invented blinders to keep their horses focused on their work. Blinders are pieces of leather attached to the horse's bridle that prevent them from seeing anything except what's in front of them. Without blinders, a horse can see almost completely behind itself without turning it's head and can be easily spooked by movement or objects it doesn't recognize. http://www.babypips.com/blogs/pipsychology/run_your_own_race.html http://www.babypips.com/blogs/pipsychology/run_your_own_race.html Sun, 04 Jan 2009 18:10:23 -0500 You're like a deer in the headlight staring at your screens, frozen, and you don't know of what to do next. You feel the pressure to perform. You haven't made a winning trade all week. http://www.babypips.com/blogs/pipsychology/feeling_pressure_take_a_chill_pill.html http://www.babypips.com/blogs/pipsychology/feeling_pressure_take_a_chill_pill.html Tue, 18 Nov 2008 10:03:47 -0500 Successful traders have rock solid discipline. They plan every one of their trades, then they simply their trade their plans. It may be tempting to trade by the seat of your pants, but if you don't develop clearly defined trading plans to follow, and follow them consistently, you'll have difficulty making consistent money as a trader. http://www.babypips.com/blogs/pipsychology/plan_the_trade_trade_the_plan.html http://www.babypips.com/blogs/pipsychology/plan_the_trade_trade_the_plan.html Tue, 21 Oct 2008 00:00:20 -0500