How To Have A Winning Mindset In Forex

[moonchild]

When it comes to trading with forex, mindset is everything, because even if your skill is topnotch and you don't have a good mindset you'll make bad decision that will lead to losses, it is very important to optimize your mindset when it comes to trading.

You should be indifferent to losses and wins, that is you should develop a mentality that will make you treat them the same way, if you get excited when you win then you'll be sad when you lose and losing is inevitable as long as you trade and you know when we are sad we tend to make mistakes.

Also, look at a lose trade as a lesson, you shouldn't see a losing trade as incompetency, you'll be hurting your confidence and it will make you take bad decision, when you lose a trade analyze the reason why you lost, and don't make the same mistake, that's why trading journal is very important.

Tell yourself the truth, when you make mistakes don't lie to yourself, confront yourself and address those mistakes., that's how growth is attained and mastery.

Your mindset is what will determine whether you'll be a profitable trader or not, not what yo know.

 

[MakeitWork]

For me it is simple, Mindset in trading is not only looking forward to success but rather focusing on how to minimize loss, 100% accuracy is a myth, but getting P&L ratio of 2:1 is what I think is attainable.
Not being too greedy and always looking into the safer side is the key, knowledge on how to spot a pattern or trends is the most important trait of a trader adding up with the right tools and mentality will certainly be equivalent to success, all things I learned is all because of 20MinTrader, having a personal support is what adds up to the confidence of me trading. JUST TO SHARE

 

[eldavis]

The best way to excel when it comes to forex trading, it's basically to see every result as a lesson. I met a forex coach some time back who said, every loss is a lesson. Instead of letting these losses discourage you or make you said, learn from it so you can be a better trader. The problem with most forex traders is that they let their emotions get the best of them, then end up making wrong decisions.

 

[Heiden Lang]

The best attitude is to keep learning even if you think that you are doing well enough. Just know that there is no end to money-making opportunities in forex and to take advantage, you will have to keep improving your knowledge and skills.