Ambitions in Forex trading

10. The psychology of a trader

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Ambition can be defined as a strong desire to reach the final goal. Naturally, for often it should be a sense of obligation to obtain the object of desire, given that the ambitious individual does not consider the situation hopeless. Successful and experienced traders know that commitment - critical sign of the approach of any trader to trade. But, although ambition can be useful, encouraging commitment, it can also lead to what might be called an ambitious perspective. This occurs when a strong desire to attain the ultimate goal of overshadows the trader's knowledge, negatively affecting thus, his focus and produced solutions. The object of ambition can be anything from some level of profit per deal to admiration of colleagues from outstanding results.

To better understand how can form an ambitious perspective, it is useful to consider the source of ambitions. Most often, ambition correlates with a sense of need that arises from dissatisfaction or situation.

Often ambition is regarded as a positive quality, because that way or manifestation of the desire to improve yourself. However, it can quickly develop into a negative quality, when it becomes excessive, ultimately leading to an ambitious term. This occurs when an individual does not have a realistic self-image and, in the case of a trader - when a trader has no true and realistic assessment of their skills and experience at each moment of time. The trader seeks to set unrealistic or unattainable goal.

Setting unrealistic targets in trade will lead to some more undesirable qualities, one of which is a growing preoccupation with the results of trade. As a trader, for You it is important to focus on the process of trade and not its results. In addition, an ambitious perspective is likely to lead to a weakening of confidence and inability to take responsibility for their actions. All this finally be the end of losses, which, naturally, will create a vicious circle, creating unnecessary tension and disorder.

There are two very good ways to ensure that You have a healthy degree of ambition. One is periodic revision of the professional evaluation of your trade skills and experience. Another is to continuously remind ourselves that have to focus on the trading process, and not the results.

When You have a psychological conflict in your best interest to resolve it as soon as possible. A hundred years ago, Freud said, and modern cognitive psychologists have shown that there are limits to psychological energy that can consume the consciousness. The more problems You leave unresolved, the greater their number is accumulated "" and the less psychological energy. When the problem is left unsolved, there is a high likelihood that conflicts will arise when You least expect them. Not every unresolved conflict come after, to influence the behavior, but would be wise to ensure that You are free from psychological conflicts. You have unresolved conflicts on the other side of consciousness? Studies have shown that such conflicts are difficult to ignore and pretend they don't exist.

Now You need to combine the beneficial aspects of their favorite methods and invented the options. As a combination of methods, make sure that You do not create a conflict within the system - for example, a certain model, potentially having more than one meaning or signal. As a rule, You encounter such a situation. In these cases, you should find out what factors are causing conflict and or eliminate one or more of the causes or add another rule to his method, which blocks the conflict.

oddly enough, the more You try to deny the existence of these conflicts, the greater the psychological energy waste. Instead of trying to ignore the conflict, it is better to face with them face to face. Often, simple recognition of the conflict will give a quick solution.

There are conflicts which all traders will sooner or later face. In trading, there are a lot of claims that have proven truth, but they are difficult to accept. For example, novice traders have to accept the possibility that a series of winning deals are likely caused by luck, not skill. It is better to take this opportunity, than to pretend that this is not justified. Remember that you will have more psychological energy to pretend that You have the skills trade, when in fact they are not, than to admit that You need more practice and instructions. Recognizing their potential limitations, You can spend their limited psychological energy more productively than proving its reputation of a first-class trader.

There are statements that were simply afraid to take for some traders. For example, a trader may think, "Maybe at one time I was a good trader, but changed market conditions, and I can't maintain his reputation as a successful trader." All traders are faced with such a capability sooner or later. This may be true or false. But, regardless of the truth, allowing this conviction get beyond стороеу consciousness, we spend psychological energy. It is better to admit such a possibility, and if it's a lie, remind yourself that this is absurd, and if it is true, take the steps necessary (type examine the new trading strategies) to prove that it was wrong.

On the other side of consciousness is always a set of beliefs and, when You feel depressed, frustrated mood, these beliefs may move from the outskirts of the activity center. No need to ignore them. Better immediately to accept them. Once You do, You will probably be able to say to yourself: "this may be true, but it does not have any effect in this moment". Later You will spend some time to sort this out. Make sure that You face their own problems face to face, allocate time for their research and try to solve them. Then You at least remove the excess from the side of consciousness and release the psychological energy.

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