Psychology

In forex trading, it is very easy to get lost in the game. You get on your trading platform, try to get some pips, and in the process you usually forget the most basic risk management practices.

And just like that, the first quarter of 2015 is about to end. Time flies when you’re catching pips, huh? But could this mean the end of strong forex trends and a change in market pace?

If you think that forex trends are overextended and that the market has reached a top or bottomed out, make sure you consider these points before taking a countertrend setup.

In the middle of a winning forex trade, have you ever asked yourself, “Should I take profit now or should I let it run?” Here’s a tip that can help you hold on to your winners.

With all the strong long-term forex trends these days, I’m sure you’ve wondered if you should start adding to your open positions. Here’s how this might affect your trading psychology.

Setting a maximum forex trading loss per day isn’t hard. You just have to take note that it has to depend on your trading personality and risk tolerance.

For those who aren’t comfortable with purely mechanical systems or those who get carried away by their emotions in using a 100% discretionary approach, a hybrid forex trading style could work better for you.

When talking about risks in forex trading, most of the time you will limit your definition to money terms. But you’re actually putting more on the line whenever you take a trade.

Before you open a real live forex account it is important that you familiarize yourself with the most common mental mistakes new traders make. How can you avoid these?

Proper trading psychology and experience are crucial components to success in your forex career. However, there are some pitfalls you should avoid.

By embracing weakness, you allow yourself to grow and broaden your horizons. Here’s how you can apply this principle in forex trading.

Achieving consistency is easier said than done. But by creating a process and setting forex trading rules for yourself, you can achieve consistency in your execution and performance.

The problem with focusing too much on forex profits is that you might be setting yourself up for frustration when you don’t achieve these. Here’s why you should focus on the process instead.

Forex trading, at the very least, requires you to deal with risk and the unknown every single day. Here are a couple of action steps you can take.

Elite performers owe much of their success to embracing change, and this is what we, as forex traders, should strive to do. Here are some ways to start.

Self-discipline involves the development of a mental framework which enables you to stay motivated and focused despite conflicts and mistakes. How can you apply this in forex trading?

It’s great to have goals in forex trading, but it’s even better to ensure that you put in a substantial amount of effort in making them work. You might find some helpful tips in this article!

A losing streak usually dampens one’s confidence, but reviewing your forex trading journal can help you regain motivation. Which factors should you be focusing on?

Setting forex trading expectations helps provide benchmarks for success, but these could be pitfalls for disappointment when not managed well.

There’s nothing wrong with having expectations, but problems could arise when you set unrealistic expectations. How does this apply in forex trading?