They always make a profit or you lose everything and leave you with Forex trading, in both cases, it comes down to psychology as a distributor. Strategies, discipline and attitude, determined to bring to the fore with its foreign exchange operations profits or losses late in the long run.
You can not control the vagaries of price fluctuations in the currency. Therefore, many people believe that the success or failure of Forex trading is simply a matter of luck or the whims of fate and chance. Five percent of traders who are able to understand what the 95% who do not understand or just lose everything, that chance is, is only part of the market. Their psychology determines how random events are handled as probability models. This is the psychological aspect of the things that really determines if you win. if you know the gains in the five percent, or if you're just a lost soul in the forex trader crowd.
The first rule of psychological success in Forex trading is "organizing". This applies to any successful business in the industry and currency trading with high volatility, is the organizing principle of the highest importance. It means organizing, if you say Forex? This means keeping very detailed records and notes on each trade you make, whether for profit or loss. Consider the trade: what currency you have purchased, you have sold, the date, the time, the price at which the transaction was executed, the amount of the profit and loss account. Write notes to yourself why you did this work and what strategy or technique you use. To do as soon as possible after the operation so that the memory of them is the most runs. At the end of each week, check their records for yourself. What could change? What should be? What have you done that has failed? What made it successful?.
The second psychological control with Forex trading is to keep the money in a very low risk. Its usually depends on your risk tolerance, you should never risk more than two to five percent of total assets in your account to trade currencies. If you have an account of $ 20,000, you should not risk more than $ 400 to $ 1,000. It is inevitable that losses caused by currency is very volatile, as mentioned. This is why your stakes should be kept small. If you still enjoy the moment, grow and develop their own risky even in these small amounts.
Then there is a rigorous technique to stay with. You need to understand all the basics of this technique, if nothing of using it to be a mystery to you. You should learn more about this technique, the stop-loss orders to another, when to take profits, and so on. Keep your feelings about the picture completely, always follow the technique of "cold" not out of fear or greed to change. And do not try until you consistently successful (or you have decided it is not working for you) with the new techniques to be first. Once you have tested more than a technique of control, you can try to mix (do not mix, but in several offices with multiple access techniques in a moment). Not so many techniques that can be used. Two or three, or even the same as what we should be much more.
Finally, never stop learning. Continue to expand your knowledge about forex on a regular basis. Give yourself an education in Forex trading. Never be complacent, do not think you know all this.