Psychology

Winning feels good and can make us feel like we’re invincible, but overconfidence wind up chipping away those profits. Here’s how you can prevent that.

In keeping these two “truths” about forex trading in mind all the time, you can be able to gain a psychological edge and cope with losses better.

Even before you enter a trade, you should already have your exit strategy laid out. You can ask yourself these four questions.

Why do traders have a hard time maximizing their trading winners? Here are a couple of tips to help you increase your confidence enough to press your trades.

Even seasoned traders occasionally freeze when faced with unforeseen events, but there’s always a way to stay in control and manage your trades well.

Much has been said about having a trading strategy and sticking to the plan, but what exactly do you need to build a profitable one?

Having trading biases can impair our ability to read the markets objectively and make good trading decisions. The first step to overcoming these biases is to become fully aware of them.

For forex traders, there are three general types of self-talk that we usually engage in, each of which has both positive and negative implications to it.

Recency bias negatively affects the way a forex trader analyzes the market, as it clouds his judgment and damages his decision-making skills. Here’s how you can avoid it.

There’s often a misconception that all winning trades are good and that all losing trades are bad. See, there’s more to it than just making profits.

The fear of success can be just as real and detrimental to some traders, just as the fear of failure. How can you ensure you’re not sabotaging your progress?

As a trader, you must develop biases instead of simply making many predictions. But how can you tell the two apart?

The areas of psychology and self-development delve into competence levels and how these bring you closer to mastery. Which stage are you in when it comes to trading?

Have you ever had a strong gut feeling that a currency pair will move a certain way? Here’s why it’s okay to trust your forex instincts when making decisions.

Here are three reasons why you’ll have better luck being the first man (or woman) to reach the sun than finding a “holy grail” for forex trading.

There’s nothing wrong with setting high expectations but problems could arise when you set unrealistic ones. Here’s why managing expectations is important to your trading success.

While luck can play a role in catching a big win, being a successful forex trader does not equate to hitting the jackpot or becoming an overnight success.

Trading seems exciting on the surface, but there is so much behind the scenes that a lot of newbies quit at the onset of boredom. How can you overcome this?

With an eventful economic week ahead, it can be tempting to try to catch pips from every single top-tier catalyst. But can this do more harm than good?

Is trading a hobby for you? Or are you treating it like a business? Here are signs that you’re trying to grow a trading business.