Successful forex traders are able to overcome their frustration in trading
Frustration is one of your worst enemies in trading! In the game of trading, the secrets of successful forex trading are:
- They are able to master their emotions and frustrations.
- They are being indifference toward the trading results.
Traders who master these secrets win. And the outcome of trading is either to dramatically reward the winner or destroy the loser, emotionally as well as financially. Traders who fail to achieve their goals usually get stopped by a lack of discipline and loss of focus, allowing their emotions and frustrations to rule their actions.
What creates frustrations? It is having expectations. If there is no expectation, there can be no frustration. Frustration will appear if an expectation is not met, and it usually is accompanied with anger, anxiety, depression, despair, madness, insanity, confusion, fault finding, and wanting to blame. Our emotions and performance become temporarily derailed.
Of course, we must have expectations; we cannot live a life without expectations. However, many times we fall short when we create unrealistic expectations, we set ourselves up for frustration. Uncontrolled frustration will cause you to agonize instead of organize. Unrestrained frustration will stump your trading progress.
How do you overcome frustrations? From my many years of trading experience and hindsight, it is simple. Just replace your feeling of frustration with the feeling of INDIFFERENCE!
Feeling indifferent places you in a position where you will not take things personally. The definition of indifference is the absence of anxiety or interest, unconcerned, having no feeling toward all that occurs. Think about the situations when other traders lose money in their trading, would you feel anything emotionally? Absolutely nothing, right?
When applied at trading, indifference is the strongest force in the universe. It makes everything it touches meaningless. If you do want to take your emotions out of trading, you have to master the skill to trade with “INDIFFERENCE”.
Do you need most successful forex trading system?
You do not need the most successful forex trading strategy. As a forex trader, you cannot afford to get emotionally involved with the market. It will only cause you frustration. You cannot trade for money and be successful. Trading for money is not the key in successful trading. The key to successful trading is found when you take the focus off the money and put all your focus on the skill and proficiency of executing a trading plan you have set up with great discipline.