Forex Trading Psychology: Your Gun To Wealth or To Death
Forex trading is like a weapon – a gun.
Anyone can hold this gun. But like all weapons, you need to be trained first before using it to fire.If you are well trained, this gun can take you to Greater Wealth.But if an untrained personnel starts firing the gun, it would lead to his death ( Financial Death )
Do you see what i’m driving here?The fact is that everyone can open an account with a broker and starts trading at any point in time. But that does not mean that they are able to use this weapon right?
Like all military personnel, they must undergo lots of weapon training first before giving them live ammunition to fire.The same goes in forex trading.We must undergo forex training first before inputting real money into our live account.
Forex Trading Psychology: Your Gun To Wealth or To Death
The next question comes:When do we pull the trigger of the gun to fire a shot?And before pulling the trigger, are we sure it’s the enemy we are shooting and not our fellow people?
The same applies in forex trading:
Before we pull the trigger, we have to make sure that it is the Right ENEMY. Shooting the wrong enemy will cause us a loss in that trade.
Random shooting will also cause us a loss = Entering trades on impulse.We will only open fire when we have confirmed it is the right enemy and the chances of losing to that enemy is low.That is done through proper training by entering with price action confirmation with confluence in place and a proper money management + risk management system.
Forex Trading Psychology: Your Gun To Wealth or To Death
So the next time before you fire a shot, make sure that you have confirmed it is the RIGHT ENEMY.
Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: Are we just plain scared to trade the lower time frames
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Hi Ezekiel,
This is cool, this orientation is good.
Regards,
Sola
Hahaha I just made all the money back that I invested into the Forex course OVER NIGHT!!! Thanks EZ, you really opened my mind!
Regards,
Tom