In Forex you can be rich this minute and broke the next minute!
Oh, I’m +110 pips up, I’m rich, the market moves my way and I will buy a new car soon! […Dancing, jumping, stressing out your calculator with additional digits that no longer fit on the screen…]
1 hour later: …Oh no, my dear pips, where did they go? I should have taken profits last time. […Tears, broken glass, and many hours bad mood and a general stress…]
Well, stress, my friend, is a bad thing. If you stress yourself out while trading Forex, you will get nowhere; instead, a person inside you will get more tired, sad and unsatisfied with you and your trading. Next time, I guarantee, you will cut your profits too early and watch the market making another +200 pips but already without you. What you will get? Let’s say it out loud, kids, everyone together – STRESS! That’s right, again. Thank you!
How to deal with that?
Each time you get stressed out, take my dark secret pill and the sun will shine again! Pills are in my cabinet.
But better, do yourself a favor, while you are trading, don’t count in those pips in the first place.
| Don’t consider pips to be yours while a trade is open. You haven’t earned them yet. |
And yet, traders are so cheerful seeing those virtual profits, that some of them even manage to spend those money in their bright imagination! What a trap to put yourself in!
And, of course, when you don’t get the reward you were already considering yours, you start blaming yourself and may be crying like a child. Ha-hah… Stop crying.
You need to relax and trade according to your rules and count profits only when a trade is closed, not before it, not during it.
That’s it. Simple but very effective rule: no pip counting, no stress, no early exits.
Well, well. I see some of you still have the question marks “???” in your eyes. And those questions are: How to achieve that, anyway? What should we do?
Ok, you asked. Now listen.
| You should trade as if you don’t need money! |
If you took this literally, I’ll explain: I meant “as if you don’t need extra money”. Protecting your initial investment and money you earned earlier is a duty of every Forex trader.
Can you do this? Can you free your mind from “I need money” statement? If yes, you may add +1 key quality to your portrait of a successful trader. If not, well, not all people are perfect…
** Forex Dark Lord **
