Stop Being A Whimp… Don’t Let Fear Get In The Way Of Profits

Posted on July 22, 2010 by Yohay
Filed Under Forex Opinions, Guest Post | 4 Comments

Guest post from visionsofaffluence.com

So you’ve made a couple of bad decisions and took some hard losses, and now you hesitate and let trades go that under normal circumstances you would have taken. This is no way for a trader to behave. In order to be successful you are going to have to develop the proper mindset. Losses are not the end of the world instead you should use them as opportunities for you to learn and grow as a trader. After all sometimes you have to lose a couple battles to win the war.

And that’s kind of what trading is. Every time you open up your software and start looking for trades you are entering into a battle with traders all over the world that want nothing more than to take money from your account and deposit it into theirs. A trader’s sole mission is to put more money in their account than they had when they started trading and the only way they can do this is to take it out of someone else’s. Professional traders are ruthless and quick and when they see an opportunity for profit they will jump on it like wolves on a lamb. If you think that analogy is a little extreme I assure you its not. If you want to beat these traders or at the very least join them in the hunt then you are going to have to get over your fear of losing and just trade. You think the best traders in the world don’t lose, well they do but the difference is that they accept it as a part of doing business and quickly move on. They learn whatever lesson the loss taught them and they keep trading, and if you want to be a successful trader then you need to learn to do the same.

If you want to discover what it takes to be able to trade for a living? Then visit visionsofaffluence.com

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..

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Comments

4 Responses to “Stop Being A Whimp… Don’t Let Fear Get In The Way Of Profits”

  1. Eurjpy: Trying To Play Hard To Get on July 22nd, 2010 2:14 pm

    [...]  Forex Crunch: Stop Being A Wimp..Don’t Let Fair Get In The Way Of Profits [...]

  2. Justin Spivey on July 22nd, 2010 10:21 pm

    Grrrrrrr. Get those pips and don’t look back!

  3. FTJ on July 27th, 2010 4:14 pm

    Agree. I am still being a whimp as i let go of good trades and keep bad trades.

  4. FTJ on July 30th, 2010 2:49 am

    FTJ .. admitting that is the first step.

    I’ve heard that taking this personal approach to the market, seeing the action as the action of others .. is the proper approach.

    When you lose .. somebody walked away with your money. When you win .. you walked away with theirs.

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