Control of emotions at work on Forex

Control of emotions at work on Forex

The success of the participants in the Forex market does not depend on luck, but on a competent analysis, forecasting the development of the situation, actions and assess the behavior of other players and the ability to keep their own emotions in check. Listen to your intuition, trade transactions is necessary, but the inner voice will prompt the right decision in those cases when you have the necessary knowledge base and experience.

Intuition - it is a developed ability to observe and manipulate the subconscious parts for which the person usually does not pay attention, and proper evaluation of these parts depends primarily on the knowledge and experience that a person has at the moment.

 Therefore, the inner voice worth listening to, but always and everywhere they follow is not necessary. Moreover, the situation is exacerbated by the peculiarities of the psychological atmosphere of trading on the foreign exchange market. And the events that are developing on the hourly forex, often cause a storm of emotions. 

The intensity of emotions and disregard trading strategy negatively affect the adoption of quick fixes. Successful game in the Forex market is based on a system analysis, forecasting, perseverance and reasonable risk.

A carefully designed system based on fundamental and technical analysis in conjunction with the competent management strategy allows us to take accurate decisions in any point in time: whether to make a deal, you need to buy and what to sell, when and why.

According to experienced traders, in most situations where intuition contradicts the decision, the proposed system approach, the system provided the rights. Following a systems approach, free from all sorts of emotions, helps to achieve considerable success in forex trading.

Do I have to, or you can use to create their own system already exist? To understand this, you will be able to carefully taking up the study of fundamental aspects of trading forex. To do this, examine the relevant literature, participate in educational seminars and other events, which will allow you to reach a new level of successful trading in the market.

If we talk about the principle of building their own approach, in any case, the system should provide answers to the following questions: In what circumstances should buy the currency? In some situations it is necessary to exchange currency? What it should be a currency pair? As the exchange will take place? What external factors may influence the development of the trade situation in the market? What are the potential risks and what is real?