Making Your Right Trading Decisions
Hi traders! This is my second post on “Making Your Forex Trading Decision”. If you missed the first one, please read the first part from here.
Experience and realistic expectations influence proper trading decisions
Do you remember when you first started your trading? Novice traders have no fear at this stage, usually being completely unknown about the dangers that the market presents. However, this is particularly true when the trader had the beginner’s luck.
A few successful trades does not proves that you are successful trader. In fact, there is more to this equation than luck and a lack of fear. We all know that, the flip of a coin can produce similar results, but what the trader is tapping into here is the feeling of possessing a positive mindset without actually possessing it. And this feeling is there because up until now the trader has not been through the necessary trading experiences which would cause him or her to be afraid.
If a trader realizes that, losing is just an unavoidable fact of trading like any other business, then this realization will cause little negative effects on his positive mindset. It means that, the trader has fully accepted financially and emotionally that, trading in the forex market or in options trading involves risk. But the trader can only attempt to calculate this risk without any complete assurance that there will not be a loss. We know better that, there are no guarantees with anything else in life. The trader should know that, the market always gives results which is unexpected and uncontrollable.
But what if the trader learn how to calculate the ups and downs about the market or the business behaviors? Up until now, those expectations have been fulfilled by analyzing and researching the market very well. Unfortunately most novice traders and indeed most traders in general (even if they have been trading for years) will fall into this category if they do not accept their losses.
Stand by your trading decisions
We must remain positive even in the face of risk or loss or failure. And we have to stay positive and always think of positive outcomes. If you are unable to think positive, then you will not able to achieve positive as well. With the positive thinking, you can expect for positive outcomes. You have to stay steady at your decision.
Don’t change your decision according to trading outcomes. Go with your trading plan and strategy. If you change your decision then you will not be able to achieve your goal. In trading business, it is more and more important to analyze the markets. By standing on your decision, you can easily find the actual market condition. It will help you to predict about the market properly.
In trading business, “Decision Making” – is the “main” and “hard” task for anyone. Success in trading is mostly depends on decision making. If you take proper decisions, then you can achieve your goal and can set yourself as a pro trader as well.