Psychology

Videotaping your trading can help you review and focus on both how YOU traded and how the MARKET moved.

The truth is that it’s perfectly normal to lose enthusiasm and focus while demo trading so I came up with a couple of tips to help you out.

Much has been said against taking trades based on guesswork, but let me go out on a limb here and say that you should trust your trading gut.

As we constantly mention here on BabyPips.com, forex trading is serious business. Beneath the lure of earning a lot of money quickly, there are lot of underlying risks involved.

In my previous articles, I’ve emphasized the need to review your losing trades to see what lessons can be learned. In this edition of Pipsychology, let’s take a look at winning trades and what can be done to maximize your wins.

Hey, forex fellas! I thought I’d write something a little different today and come up with a quick rundown on the lessons learned and latest trading resolutions of my fellow FX-men.

Losses are inevitable. And the worst possible way a trader can respond to losses is to be indifferent about it.

Successful traders are made, not born. Nothing can prove this concept more than the story of the Turtle Traders.

Have you recently experienced a big loss or a series of losses that dealt you a big emotional blow? Do you often get emotionally rocked by what you feel should be normal trading stress?

As a trader, you must develop biases instead of simply making many predictions. What’s the difference between the two anyway?

Trading stress can wear you down if you’re not careful, so it’s important to know how to deal with it. Here are three steps to help you handle trading stress.

The main reason behind the difficulty in coping with losses lies with the lack of understanding rather than actual psychological problems.

After a terrible losing trade, perhaps the last thing you’d want to do is to revisit and scrutinize that loss. Here’s why looking at your worst trades can be good for you.

The age-old saying “The only thing constant in life is change” isn’t any less true in trading. How can you adapt to these market changes?

So you blew up your account? Instead of crying in the corner, you should know that blowing up an account is a lot more common than you think.

Of course, to get an edge in the markets, it’s not enough that you keep a psychological trading journal. You must also use it properly.

It is often said that, when it comes to trading, you should play your strengths. Most trading psychology articles, however, focus on minimizing weaknesses rather than identifying and improving one’s strengths.

There seems to be a common misconception that all winning trades are good and that all losing trades are bad, but there’s more to it than that.

Remember that as a trader, it is your job to always be prepared. Great traders do all the dirty work before, during, and after trading hours and that is why they are successful.

Whether it’s in sports, a career, or life in general, I think very few people understand the amount of dedication that successful people have to achieve what they accomplished.