No Need to “Win” All the Time in Forex Trading
In forex trading , experiencing loss is commonplace. Not always your trading strategy is successful. There are times when your strategy leads to failure, even if for example you believe that your strategy is able to generate profits and you have followed all the rules. If you are not careful, it can make you lose “fighting spirit” and finally negative thoughts fill your mind.
Unfortunately, losses can happen to all of us. So when you feel that some failures are starting to discourage, it is very important to keep in mind one guideline: You may lose in several battles, but in the end you are very likely to win the war.
Many traders make the mistake of letting negative feelings affect their trading activities. They think, “If I succeed in making a profit today, and every day of the week, then I do the right thing. But if I fail today, or tomorrow, or all week, then that means I am doing a terrible thing! “
Thinking like this is based on how people see trading like office work.You enter at 9am, go home at 5pm, do work for 40 hours per week, complete all the tasks, and get a big salary. OK, you also feel that you have worked diligently and productively throughout the week.
However, when you trade, it is not always the results you receive are proportional to the efforts you have made. That’s what it is. When you don’t reach your target, it’s easy for you to feel disappointed. That’s right?
Indeed, such situations often occur, but as a trader we should not respond to trading like conventional daily work. There are no guarantees tens or even hundreds of hours of time you spend doing the analysis will definitely produce profits. Or at least the profit target you set may not be achieved.
A target that is better than the target profit – even though it sounds strange – is a “learning target”.
Hm, what’s that?
You may not be able to reach your profit target; say weekly targets. But you will always be able to reach the “learning target”.
In every day you trade forex , realize that you actually have gained valuable experience on how to respond to the market? You will always be able to learn various strategies and how they can succeed or not.Don’t even underestimate experiences like this!
Every day, the learning you get from experience will increase. Maybe this will not give instant results in the form of abundant profits, but surely, slowly but surely, your trading instinct will be more mature and sharp.
This is one implementation of “focus on the process, not on results”.
If you only focus on how much money you can make, and treat forex trading like everyday work where there is a salary that will definitely be paid by the company, then you will actually fail in trading. But if you focus on how to sharpen your trading skills and are willing to “sacrifice” some time, energy and mind; then whatever your trading results on this day will actually accelerate your maturation process to become a reliable trader.
Like a war, you can only win one or two battles and lose a number of other battles, but the more often you learn from defeat in one or two battles, the stronger your “survival instinct” will be. In time, you will be able to recognize potential hazards early and avoid them in order to avoid greater damage. You will also be more skilled at identifying opportunities and able to win more brilliantly. In the end, you will win the war.