A bored successful forex trader

themba By themba, 31st Oct 2014 | Follow this author | RSS Feed | Short URL http://nut.bz/3csfb6dr/
Posted in Wikinut>Money>Forex Trading

In the forex market industry bored traders are successful because they've mastered simple techniques.

Why boring is good for traders

This takes place because most of the time successful trading means
doing nothing. A successful trader knows that he can not trade all the
time. He waits days or even weeks for all the signals that forms part
of his strategy to show up. As opposed to the trader who gets in the
market and guess or gamble his money away because he can not control
his emotions.

Trading the markets has more to do with control. If you can be in
control of your emotions namely fear or greed. Then you are one step
closer to become a successful trader. Thus not every one can be
successful trading the Forex market because not many of us have the
patience to wait for our signals. On the other hand a person that has
mastered the craft of embracing boredom has the patience to wait until
every set up falls into place before they start to trade.

A bored trade is a successful trader because in the long run he makes
more money than most traders. Money is always attracted to discipline
than to a trader who is ruled by emotions and all over the place
trying hard to win.

Trading is neither gambling nor a game of entertainment. We need to
Carefully look for the signals that forms our strategy and perform the
transaction while letting go and allowing the markets to do its work.
if we need to be entertained let it be outside the office. After we
made our trade, we must close our laptops and move away from the screen
or we will become trade junkies and end up gambling all our monies.

All great successful traders know that a trading strategy does not show up all the time in the markets. They wait and are always bored because sometimes it looks like their trade set up will not form any time soon. But for an amateur trader that’s where the temptation comes in and he can not take any longer and give in to temptation. The big difference between professional trader and amateur is how they control their emotions and the ability to master one strategy at a time. For the amateur trading is roller coaster build my bank mentality. Start now to embrace boredom in the markets and you enjoy success in the long run.

Tags

Forex, Forex Investment, Forex Trading, Forex Trading Strategy, Forex Trading Tip, Forex Tricks Forex Money

Meet the author

author avatar themba
Themba is a pastor, blogger and freelance writer. I write unique and original web content. My articles are copyscape clean.

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Comments

author avatar Retired
6th Jan 2015 (#)

This is a really nice article. I am a Forex trader myself and I surely need to get boredom into my system!

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