FOREX trading, on the other hand, does not have a fixed model where a trader can study clear fundamentals. The winning Forex trading strategy starts as follows. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Read more about tools here: That summarizes the key elements for every Forex trader. By formulating a trading strategy in the beginning, and remaining loyal to this throughout the course of a trade, we can ensure that greed has psycyology to do but bow down in silence as we study the markets and make our decisions based on reason and analysis alone. It is this combination of wrongly defined trading objectives and unrealistic expectations, that, in most spychology, leads to ruin. Join The Forum When it comes to trading another aspect of utmost importance is purely psychological in its nature.




It is the idea of freedom associated with it that so many regular employees such as marketing managers think they can easily transition to it. Those who think they have a bit of knowledge in foreign exchange or who think that their common knowledge in trading will be able to carry them through, ought to reconsider being a full time FOREX trader. Everything is well documented. In a way, to get to the top of such professions there is already a ladder set up for your success, and all you have to do is move forward.

Sure, there are articles and books to read about it but the subject is so diverse and dynamic. It is constantly changing according to so many unforeseen factors, that whatever information you may read about now may be history in minutes. Investment bankers are likely to earn no matter what happens traer the economy. IT professionals are going to make money when they write a line of code or fix an IT bug. Psychology of a winning forex trader job this regard, FOREX trading is more unpredictable, since there is no fixed model of how to make money.

Clearly, this is opposite to the environment of other professions like in IT, marketing management, social psychology of a winning forex trader job, or engineering. These are clearly structured jobs, and the same goes with investment banking jobs. Company portfolios, spreadsheets, financial data, etc. Therefore, it is more structured, too, when compared to FOREX trading. It can be counter-intuitive at times. In fact, being able to think outside the box could be your biggest edge in trading!

Psychoogy the other five job types aforementioned proceed on a regular pathway, FOREX trading fordx more of a gamble. Career-wise, you really would not know what to expect even in the near future when trading. What you need to do is just read the market. In FOREX trading you can make a fortune as you can lose your house in the blink of an eye. For the unprepared trader, this career path might not be the best option. You jon consider trading only as a hobby.

It is not necessary to jump into this field even if you feel well-prepared. I do try to wlnning newbies and experienced traders alike against the dangers of trading. This can help you choose a more consistent career as an IT consultant or another full-time professional. In the meantime, if you choose to be a full-time trader, you will need to equip yourself with a lot of patience.

Being an IT Professional requires a high level of technical knowledge. It may take a long time to learn, but at least there is a lot of available data out there to study from. The same goes with engineering, and you have board exams to tackle first. FOREX trading, on the other hand, does not have a fixed model where a trader can study clear fundamentals. Unlike in other professions where you can learn from case studies, FOREX trading is highly dependent on practical experience and even then does not mean one could be successful.

What makes it even tougher is that there is a strong influence of politics, economics and black swan events in all markets. All these factors could change anytime. Profitable trading is probably one of the toughest jobs in the world. And if that is not enough- successful traders take on average 10, hours to hone the skill. Perhaps the toughest part of being a FOREX trader as compared to other jobs like in marketing management, social work, IT or engineering is that the income does not come on a regular basis.

In fact, some would argue that you could lose more in the psychology of a winning forex trader job run just like in gambling. It is not financially stable in the sense that you could lose so much in little time. When that happens it makes you wish you had a monthly pay slip instead. But is that really how you have imagined your life? What trading sessions trading sessions the challenging element or the desire to win? You are the one taking the ultimate decision… Your email address will not be published.

Notify me of follow-up comments by email. Notify me of new posts by email. Get 3 Free Trading E-Books and Free Course. Crude Oil Trading Idea. Posted on Jul 25th, by colibritrader. Is FOREX trading easier than having a full-time job? How does it differ and is it really better than having a full-time winnlng as an IT specialist or a social worker… The best thing is that you have the freedom to choose….

So FOREX trading vs. You are the one ;sychology the ultimate decision…. SCAN THIS QR CODE WITH YOUR PHONE. How To Define The Trend or The Best Article on Trend Following. Leave a Reply Cancel reply. Your email address will not be published. DAX Germany 30 Trading Setup. Top 10 Chart Patterns Every Trader Should Know. EURUSD Hits 5-month high after the First Round of French Foorex. XAGUSD Silver Trade Setup.

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Traders must deal with trading psychology. Every new Forex trader Forex Trading Psychology: Dealing with and you can develop a winning Forex trading. Forex Trading Psychology: The Four Demons of Trading Psychology ; Forex Trading Psychology: To understand these emotional problems, and trader psychology. FOREX Trading vs. Full Time Jobs Is FOREX trading psychology of winning ; successful trader ; question in FOREX trading. While the other five job types.