Trading Psychology: The keys to success

The key to success in Forex is trading psychology

To succeed in trading there are two fundamental factors that depend directly on you: The first factor is the knowledge and experience that is achieved with dedication and a lot of practice. The second factor, on which we will focus on this article, is in your mind with your attitude and with the proper control of your emotions.

The path to success in trading is no different in many other facets of your life, for example if you practice a sport, in addition to many hours of practice, a good psychological and mental preparation is essential to face the opportunities, sacrifices, obstacles , victories, failures,…

Trading psychology is vital for any beginner trader, who must develop their own investment strategy while learning to deal with these emotional factors. But it is also for professional traders who must remain psychologically strong and not lose discipline in order to be consistent and profitable for years.

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Confessions of a Forex trader


Like many people, I came to the world of Trading hoping to make money quickly, I took some online courses, I opened a real account – which obviously loss- and so began my career in the difficult world of trading. It was not easy, many times I was about to leave, then resumed with more force and win, but it was very difficult. This was the most difficult journey of my life, that was more than six years ago, and today I see with nostalgia that time, and whenever I have a chance to talk with rookies in trading, I emphasize that the way in trading is difficult and hard, but the reward is great.

6 years ago I would have liked someone to advise me, to explain to me so much of the trading, but  that was not the case. In this market are few people who tell you things as they are, they are few who will tell you the reality of the trading with words. I try to do it in these confessions, and I hope that you take note.

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I left my trading account in zero: 4 steps to recover

So you have lost your trading account and now is in zero? Oh, man, I’m sorry, this have also happened to me several times …… !!  But let’s be a little constructive and rather than lament the big loss let’s think why the account was ruined and what we should do and as evil of many is the consolation of fools, think that ruin Forex accounts is something quite common.

Perhaps you are tired of hearing that 90% of traders lose money in their first year of trading. I really do not know if this statistic is very accurate, but unfortunately for what I see, I tend to think that is true. I myself have had accounts that have practically fallen to zero: lack of discipline, not following the trading plan designed, etc. are usually the most common causes that lead to continuous losses that diminish and undermine trading accounts even to activate margin call.

But do not miss any illusions, I believe that even the most famous and respected traders have failed at some point and have reached the bottom to return to the market and be successful.

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Trading Psychology II

In this article we will continue with the main ideas developed about the relationship between trading and psychology that we discussed in the article “Trading Psychology”. First at all in that article we discuss the fundamental role that psychology plays in the performance of a trader. Among other aspects, we explained that in most cases the traders loss money due to their fault and because they are not prepared psychologically to face the market environment.

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Trading Psychology

Why psychology in trading is so important?

Trading is a very hard game. A trader who wants to succeed must take very seriously what he is doing. You can not afford to be naive or to trade for hidden psychological reasons. Unfortunately, trading attracts impulsive people, players and those who think the world owes them something. If you practice trading for the excitement it produces, it is possible that you may perform many trades with little chance of sucess or accept unnecessary risks. The market does not forgive and the emotional trading always carries losses.

The feelings have an immediate impact on the trading account. May be you have a brilliant trading system, but if you are frightened, arrogant or upset is almost certain that your account will suffer. When you realize that the thirst for gambling is gaining or fear clouds your mind, you must stop trading. Your success or failure as a trader depends on controlling your emotions.

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