Guest post from visionsofaffluence.com So you just had a few good trades and now you feel like you’re on top of the world. You feel like you finally have this forex trading thing down and that from here on out everything that you touch will turn to gold. You are unstoppable and pretty soon you will be able to quit your day job and trade full time. Things are really looking up for you until you quickly give back all of the gains you just made and in fact no have less in your trading account than you did when you first started. You have no idea what has just happened and how you could go from being on top of the world to being in the dumps so quickly, but actually the reason is pretty clear. You got overconfident. Overconfidence is one of the most dangerous emotions when it comes to trading because it causes traders to abandon logic because they feel like they can’t lose. If left unchecked this emotion can do serious damage to trading accounts and has been responsible for the ending of many trading careers. This overconfidence rears its ugly had after traders have a good streak of winning traders and they start to be overcome by feelings of euphoria that causes them to take trades that they normally wouldn’t because they are enamored with their own perceived abilities. This is one of the classic traps of trading that has led to downfall of many traders. In order to avoid this you need to remain humble at all times and respect the power of the markets. There is no way you can ever accurately predict the market all we can do as traders is stack the odds as high in our favor as possible before taking a trade. Never let a string of good trades go to your head, and if you do feel those feelings of unwarranted confidence coming on then the best thing you can do is stop trading and only come back after you are thinking clearly. I know that is easier said than done but it is this discipline to resist the alluring pull of their emotions that separate the great traders from everyone else. 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.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Guest PostOpinions share Read Next Canadian Contraction – A Sign for the US? Yohay Elam 12 years Guest post from visionsofaffluence.com So you just had a few good trades and now you feel like you're on top of the world. You feel like you finally have this forex trading thing down and that from here on out everything that you touch will turn to gold. You are unstoppable and pretty soon you will be able to quit your day job and trade full time. Things are really looking up for you until you quickly give back all of the gains you just made and in fact no have less in your trading account than you did when… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.