Psychology

Trading involves a whole lot of risk. Heck, if it didn’t, everyone would be gazillionaires! However, there are a few risks that we tend to overlook. Read up on this week’s Pipsychology article and learn to address them!

When you are trading forex, how valuable is it for you to be right? Out of ten trades, if you were right eight times, would that make you happy? How about only half the time, is that still okay? How about twice? What’s your limit?

In my previous Pipsychology articles, I often discuss the things that can be done to improve one’s trading performance. This time, let’s take a look at some of the reasons why most traders fail.

Ever heard of the term “writer’s block”? Well, there’s a similar condition for traders, and we call it trader’s block.

Think you know everything about forex trading? Check out these three busted myths that could make you think twice about your current approach to trading.

In forex trading, as with other endeavors, expertise is a development process in which the crucial element is that you enjoy what you do. Read on to find out why!

Why should traders take care of their mind and body if they just spend most of their time in front of the screens? Believe it or not, it’s more important (and easier) than you think.

When you’re in a slump and you watch your account bleed out, it can be quite hard to find the right motivation to continue trading. But don’t be discouraged, young Padawan. Let me tell you a few reasons why you should look past the money.

Trading stress can wear you down if you’re not careful, so it’s important to know how to deal with it.

Every single time a trader goes on his trading platform, he knows that he will be exposed to a variety of stressful situations. This makes forex traders very susceptible to what I call the “mental burnout.” How can you deal with this?

Have you ever wondered why, despite years of forex trading, you just can’t make it big? Sure, you aren’t losing much but you’re certainly not making huge gains either.

As traders, we give a lot of thought into stop loss placement. But sometimes, not enough attention is given to profit targets, which is a pity because being able to maximize profits can greatly affect one’s bottom line.

While taking advantage of market opportunities is a huge part of becoming a consistently profitable trader, it doesn’t mean that you should take trades for the sake of being in a trade.

With just about any endeavor in life, success doesn’t come easy. There’s no sure-fire way to be successful but I am pretty sure that no one ever became a success without taking responsibility for their actions.

I’ve always been a firm believer that no trader is an island. No matter who you are, when trading gets tough, having someone to guide you can help the journey more bearable. But how can one find a good trading mentor?

How do you know when you’re ready to retire your demo account and start risking real money? Here’s a little check list, where your answer to each question MUST be an unequivocal, resounding, and decisive “YES!”

In 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. Here are 5 common habits that might help in limiting your risk exposure.

Anything worth having doesn’t come easy, and that includes success in forex trading. How bad do you want to be a successful trader?

In more ways than one, the forex market is like a battlefield. In order to achieve victory as a forex trader, one must learn how to think like a military strategist. Read on to find out how!

Whether you’re testing out new strategies as part of your 2013 resolutions or you’re sticking to your favorite trading method, you should protect yourself from these four things that might tempt you to abandon your trading plan.