Manage Your Trading Psychology

Every human being is born with different characters and complex nature. Feeling greedy, covetous, doubt, fear, hurt, wanted revenge etc is the main enemy to be conquered by a trader. Forex trading is a business activity that involves humans, of course following all sorts of nature or character. And because that's the psychology of management is indispensable here.

Management Trading psychology, should know and understand? Literally, the psychology of mental changes identical to someone. And mental readiness in trading, a trader in the face all situations is indeed indispensable.

Not a few traders who end up bankrupt just because its less ready to affect their mental trading pattern is actually good. On live trading psychology changes, experienced a trader is certainly very different is different when using demo account, this is because in the live trading is no longer using virtual money, but the real money. Managing the psychology of management (psychology) trading is not an easy job, but indeed this is one of the important things that need to be understood and carried out by a trader.

Some of the trader characters must be to managed are:

Greedy
This is the most basic human nature it is difficult to be removed. One purpose of the trader when to enter the market and conduct transactions is gaining profit. And the tendency of traders to profit was bigger than what he obtained already at that time.

Revenge on the market
This very common condition experienced by beginners like me when it suffered a loss. As I demonstrated above, revenge will only make the trader cannot think clearly and focus on trading patterns. Of course this being a big plagues if it continues

Fear and doubtOther psychological problems is fear or hesitation. The result of the psychological problems is usually late to enter the market or even result in the loss of the opportunity to profit.

Over Confident
Over confident or overly confident. Often occurs when several times in a row get the profit, even with no loss at all. Confident it is necessary, but overconfidence can also provide effects that are not well in trading.

Source: ide-fx.blogspot.com