Psychology

Before you take the plunge into full-time forex trading, let me remind you to ask yourself these questions: Do you really want to be a forex trader? How bad do you want to achieve your trading goals?

It’s not possible to predict every single forex market scenario and determine how you’ll act in each case, but it wouldn’t hurt to try your best to do so.

Do you prefer trading alone or having a forex trading team? Here are the pros and cons of each.

Since you should treat your forex trading like a business, it’s important for you to have a mission-vision statement to help you achieve your trading goals.

Have you ever gone through a rough patch in your forex trading and couldn’t seem to figure out what was going wrong? You might be encountering some of these common newbie problems.

From my years of experience as a Pipsychologist, a traders’ inability to truly make it big in the forex market, more often than not, stems from fear.

Which among these three forex misconceptions are you most guilty of? It’s about time we busted these trading myths!

Instead of taking responsibility for a bad trade, we blame the market, our broker, and sometimes even the cat outside the window. Are you guilty of this?

Forex trends appear to be getting stronger these days and going against the herd seems to be an unpopular approach. Here’s why you should still consider it.

What’s the connection between being an elite athlete and forex trading? Here are five traits they have in common.

More and more forex traders are losing their trades and even getting their accounts blown up by trying to short at the top or go long at the bottom. How can you avoid this pattern?

When a forex trader is “in the zone”, he is able to zone everything out and focus on nothing but the activity at hand. How can you achieve this?

In this edition of Pipsychology, I’ll be discussing some ways to maintain the confidence to hold on to winning forex setups. Check ’em out!

In this follow-up article to my earlier blog post on tips to boost trading confidence, here’s an entry on how to muster the guts to add to your forex positions.

Because of the nature of forex trading and its effects on the psyche, it is important to be strong and have a lot of self-confidence. Here are some tips that might help!

Deliberate practice becomes easier when you expand your knowledge of forex trading. Here are more ways to improve your deliberate practice.

Instead of reacting negatively to losses, a better mindset would probably be one that involves actively learning and improving from those forex losses. Here’s where deliberate practice comes in.

If you listened in class back in grade school when the scientific method was taught, pat yourself on the back! Having a scientific mindset may just give you an edge in the forex market.

It is said that the failure rate in the forex industry is very high, with more than 95% of aspiring traders expected to drop out of the game within their first few years of trading. How can you avoid this?

The beauty of breakeven forex trades is that although you may not increase your account with them, they do enable you to protect your capital.