Forex Trading Psychology The Art Of Mind Control

| Total Words: 610

Indeed, you really do need to hone your skills at self-discipline and become a virtual Zen Master if you truly want to succeed in the fluid Forex market. Trading 24 hours per day (the market does close from Friday afternoon until Sunday) thanks to a network of inter-linked computers in financial institutions around the world, the Forex market is by far the largest and literally dwarfs the commodities and futures markets. Nearly 1.8 trillion dollars change hands each day and you can profit from the interchange of currenciesif you can control the four most dangerous emotions that tend to cloud judgment and cost you profits. These four emotions include:

Greed
Fear
Hope
Faith

With the right investment strategy, the Forex market can certainly be very profitable but greed is always a factor in any human endeavorespecially investing. Greed causes perhaps the greatest problem when it comes to investing in the Forexovertrading. When an investor overtrades, there is a greater potential to risk too much and enter too late in the trend. Back testing should identify trends and help you determine whether the window has already passed so be sure to stick...

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