Psychology

Some of you may have already begun the year with trading resolutions in mind. For those who haven’t adopted any yet, it’s not too late! Below are some resolutions that you may find suitable for your goals.

Losses are inevitable. It’s as real a fact as the sun rising in the east and setting in the west. Sooner or later, everyone is going to get a bitter taste of defeat. But you don’t have to worry. Even the best fall down sometimes.

Time flies fast, huh? Before we end 2012 though, let’s look back at some of my favorite trading psychology lessons for the year.

We’ve all gotten our hearts broken at some point. And no, I’m not just talking about getting dumped by your high school sweetheart. Have you ever found yourself not pulling the trigger on a setup because it reminded you of a supposed Trade of the Year that didn’t go your way?

Going against market sentiment can be frightening for many traders. But with big potential returns and attractive reward-to-risk ratios, some find it profitable to go against the herd. What are the risks and benefits of contrarian trading?

For committed traders, low volume and volatility are just excuses for not trading. If you want to challenge your trading flexibility, here are three tips on how you can trade in a less volatile environment.

One trader wrote in that he was in a slump and wondered if he should switch markets or find another indicator. Do you ever find that you also want to blame something outside yourself?

Normally as traders, we tend to focus on what WE are doing, as we try to carry all the responsibility for our trading. What you need to understand though is that having the right support around you is just as essential to your success.

Reviewing chart patterns and price action can only go so far in preparing you for the market’s surprises. This is why you should train your mind to anticipate fear and shock before entering trades.

Have you ever been overconfident over a winning streak and you start to incur losing trades, which will then motivate you to step up your game? That, my friends, is the classic trading yo-yo.

We here at BabyPips.com believe that proper position sizing is THE single most important skill a trader should have. Yup, that’s right – it’s THAT critical!

Much has been said about the importance of mastering your trading psychology. And though there are many different ways to accomplish this goal, perhaps the most practical and effective way of doing so is by keeping a psychological trade journal.

Here’s a popular trading statistic that’s thrown around a lot in the retail forex world: 95% of traders fail. With such a high exit rate, you’d think that being a good trader is genetic!

Let’s face it – we all deal with distractions in one form or another. It doesn’t matter so much exactly what the distraction is, but rather, what’s more important is the detrimental effect that it can have on our work.

With the Internet making so much information available to us these days, it’s easy to get overwhelmed by the wealth of knowledge at our fingertips.

There is life outside the forex market, folks! In this article, I will talk about why you should strive to achieve a work-life balance.

I have yet to come across a person who would tell me that he or she doesn’t want to succeed. However, I have met a handful of people who hold themselves back in fear of the changes that success would bring. Are you one of them?

Like a casino, traders try to make a consistent living despite living in a very random work environment. Read on to find out how you can overcome this paradox and be one step closer to being a consistently profitable trader.

If you want something badly, you gotta grab the bull by the horns and make things happen. In this post, I’ll share with you the 4 worst excuses that I have heard to NOT start trading.

It is often said that, when it comes to trading, you should play your strengths. But how exactly do you identify them? I’ve got 3 tips that might help!