Thursday, October 1, 2009

FOREX trading psychology: Learn to see the line between the trading plan and your emotional impulses ...

The vast majority of Forex education organizations fail to address the only true characteristic of a market place, the human nature.

You can easily find loads of charts, pivot points, moving averages, trend lines and all sorts of Fibonacci ratios, together with the latest in trading automation. Any Forex website publishes some or all of these data, along with myriads of other details, interviews and opinions.

You may even get entry and exit signals, support and resistance levels, all of which could appear as sufficient in the decision making process.

I was under the same impression as a beginner, I was at the same level as an intermediate trader and only heavy losses and low risk/reward decisions made me look for a different approach to trading.

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