Psychological Preparation Of The Trader: Probabilities In Trade Part 2

By in Intro to Forex on June 27, 2020

The reflection in categories of probabilities interferes with you to connect your ego with trade. As any decision is only probabilities there is no big achievement if you win and any big failure if you lose. As you concentrate on probabilities, you connect it with the market, instead of with yourself directly. The moment when you start to consider the market in mutual relation with yourselves, you get to trouble. At first, you deform the vision. You can’t see that is correct before your nose. Secondly, you deform the estimation. Your trade becomes too important. When trade becomes too important, all kinds of distortions and difficulties increase. You trade to prove yourselves own importance, instead of to gain money.

Probabilities are your force. It is everything that you have, but it is enough of it.

Studying on own errors
There is an old saying that the one who does nothing isn’t mistaken. And it is true. Errors are peculiar to process of accomplishment something and, of course, are an essential part of studying of accomplishment of any process. You learned to go, without falling? Riding a bicycle for the first time, without fluctuating? Certainly, this is impossible. Also you can’t learn to trade effectively without doing errors.

It is important to study on the errors at trade when they occur. You make a mistake, and then you do adjustment. Probably, you have made wrong adjustment and it is necessary to make repeated adjustment.

I perceive errors as feedback. Any action produces result. As trade is a number of perceptions, thoughts and actions we receive continuous feedback. Our results speak to us through any time, works or that we do doesn’t work. We should hold the opinion opened to grind the skills.

Some traders are so afraid to make a mistake that don’t trade method corresponding to a situation. And it is one of the worst errors whom the trader can make.

Others are so ashamed of fulfillment of errors that can’t recognize them. If you can’t recognize an error or don’t take responsibility for unfortunate action you can’t study on this error. It leaves you defenseless to repeat just the same error.

Finally that distinguishes the winner from lost – the capability to study on errors and availability of discipline to cease to repeat them. It was more than once said that, the fan from the skilled professional is distinguished by that the professional, only, does less errors.

And how to make less errors? We recognize and we recognize errors when they occur. We practice going forward without repeating the same error again.

As speaks Dig V. Longstreet: “Let’s avoid making the first mistake. But if we do it, let’s avoid making the second just the same mistake. The first can teach us. But the second kills us”.

If you want to participate in forex trading must start from learning the basics of currency exchange market to make sure you do not have problems with this industry.

There is another option – you can hire experienced traders to managed your trading account – read more about forex investment here. Also make sure to look for the knowledge in a good forex book.

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