The Forex Trader Mindset Required To Succeed
In this Montreal Forex trading vlog, I discuss the basics of the required mindset to succeed as a Forex trader. As traders, we are often tricked by our mindset and it is very important to find the little holes we tend to fall into. The optimal Forex trader mindset is one in which we spend time re-evaluating what happened and then asked ourselves why we behaved a certain way. Vlog #190.
Developing the right mindset – that will allow you to succeed in Forex trading – takes time. You do not wake up on a new day with the perfect mindset.Many people don't achieve big things today because they let themselves too influenced by their past. Click To Tweet
In my experience, one must spend some analyzing his/her actions and look for causes of behaviors. After understanding why you did something (i.e. acting too quickly or doubting yourself), you can start to see that you probably had no valid reason for doing or not doing something.
The next time the situation occurs, you can focus on acting the right way.
Resources To Develop The Optimal Forex Trader Mindset:
- 033: The Most Valuable Insights On Trading Psychology – Andrew Menaker
- 054: Work Harder On Your Mindset Than You Do On Your Strategy – Chris Capre
What have you done to develop a successful Forex trader mindset? Comment below! I'd love to know.
If you are aspiring to Forex but wonder how to put together a solid trading plan, I recommend you grab my FREE One-Page Trading Plan Template. It will help you simplify your trading strategy on a single page!