Currency Trading Information Channel
Don't Deny Reality
If you want to be a successful trader, you must make sure you do not deny reality in any phase of your trading. You cannot deny losses, price direction, mistakes you make, being undercapitalized, or a whole host of things you would rather not think about.
Many traders think the best way to deal with unpleasant ideas, events, or personal character flaws is to shut their eyes and pretend they don't exist.
Let's face it, trading can be difficult, at times very difficult and it's essential that you focus on reality. Denial takes your focus away from the very thing you need to be concentrating on-the action of prices-regardless of time frame. Your mind must be clear so that you can look at the market and see what is really there.
The way I learned to handle denial was to simply write down and confront all possible ideas I had trouble accepting. Some thoughts I could fix and others I just had to accept. But facing the truth of what and who you are is the only way to deal with denial. You have to realize that for the most part the only things you can change are in yourself. Other things you just have to accept. You have to accept the reality of slippage, for example. You have to realize that indicators often give false signals and that there is no magic moving average nor is there a magical oscillator.
You have to realize that some winning trades are just lucky trades and had nothing to do with your skill as a trader. By the same token, you will also experience the bad luck of having prices make a sudden and unexpected move against you.
Rather than wasting your time in denial, concentrate your mental energies on improving yourself and improving your trading skills. Work at improving your abilities to observe. Realize that you have to survive the markets in order to benefit from the experience of the markets.
There is really only one true problem with your trading-that problem is you! However, the problem manifests in two ways: 1. Market conditions have changed and you haven't. 2. You are no longer doing what you did when you were winning. You have drifted. You are not consistent.
The first aspect of the problem is due to poor observation. The market has changed and you haven't changed with it. Poor observation stems from a variety of lesser but very important problems. You have married a market, or a trade. You may have allowed your ego to get the best of you and you are no longer humble. I've named just a couple here. I challenge you to think about the many things that can distract you from seeing when market conditions have changed. Make a list of those things and confront them. The second aspect of the problem stems from inconsistency. Here again, you should make a list of those things that cause you to be inconsistent. "Perhaps I was a good trader at one time, but the market conditions have changed and I may not be able to keep my reputation up." This is an issue that all traders face at some point: keeping up their reputation. When one makes big profits trading, it's tempting to tell neighbors and friends how well you are doing. It's great when you're making the big profits, but keeping up appearances is often the downfall of even the most astute trader. Again, denying your need for fame and glory, or pretending that you can maintain an unrealistic reputation, will use up your psychological energy and interfere with your ability to concentrate. Huge profits tend to go to the humble, so try not to build up your reputation. Admit that you will have difficulty keeping up appearances and just quit doing it. One fact that traders wrestle with continuously is the notion that, "Trading is not a legitimate job."
Many traders struggle with the legitimacy of trading. Some traders find that they can simply remind themselves, "Trading provides liquidity and helps control prices." Other traders, however, think this isn't good enough and need to find more meaning in their daily trading activities. For example, they may focus on how trading helps them provide for their family, or may plan to donate some of their profits to charities they view as personally valuable. The point is, don't deny the possible truth to such ideas. You will be better off acknowledging and working through them, and then just moving on. Denying they exist, on the other hand, will use up time and energy.
Unacceptable beliefs tend to lie in the back of your mind. They remain there, lurking, and when you are vulnerable, they can powerfully influence your outlook. So acknowledge unacceptable ideas, and once you admit the possible validity of such ideas, you will neutralize their potential influence. This will free up limited psychological resources, allowing you to focus all your energy on trading profitably and consistently.
Joe Ross, trader, author, trading educator is one of the most eclectic traders in the business. His 47+ years include position trading of shares, and futures. He daytrades stock indices, currencies, and forex. He trades futures spreads and options on futures, and has written books about it all - 12 to be exact. Joe is the discoverer of The Law of Charts?, and is famous for the Ross hook? and the Traders Trick Entry?.
Trading Educators, Inc.
The Team at Trading Educators is composed of an international blend of experienced traders, all educated and proficient in the Joe Ross methods. Our professional staff trades regularly in the markets.
Since its foundation Joe Ross and the Team at Trading Educators have taught thousands of satisfied customers who use Joe´s concepts to produce significant profits in today´s markets.
MORE RESOURCES updated Wed. May / 12 / 2021
Coinseed moved all of its clients' assets into dogecoin without telling them, new report says - Markets Insider
Coinseed moved all of its clients' assets into dogecoin without telling them, new report says Markets Insider
Why Should You Keep Forex As A Part Of Your Portfolio Paso Robles Daily News
Indonesia Mulls Tax on Crypto Trading Yahoo Finance
A 29-year-old crypto billionaire who's perfected digital-currency arbitrage shares 2 tips for investors looking to get started in trading - and explains why ether is unlikely to surpass bitcoin - Markets Insider
A 29-year-old crypto billionaire who's perfected digital-currency arbitrage shares 2 tips for investors looking to get started in trading - and explains why ether is unlikely to surpass bitcoin Markets Insider
How can forex trading benefit you? Deccan Chronicle
Digital Currency Trading Platform Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential & Forecast to 2027 – The Shotcaller - The Shotcaller
Digital Currency Trading Platform Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential & Forecast to 2027 – The Shotcaller The Shotcaller
NY Attorney General Seeks TRO Against Digital Asset Trading Company - Technology - United States - Mondaq News Alerts
NY Attorney General Seeks TRO Against Digital Asset Trading Company - Technology - United States Mondaq News Alerts
Best currency pairs to trade for beginners Capital.com
Roblox Jumps as Virtual Currency Trumps Actual Sales Investing.com India
Silver Castle, Israel’s First Digital Currency Investment House, Joins TASE Following Its Merger With Publicly Traded ICB - Yahoo Finance
Silver Castle, Israel’s First Digital Currency Investment House, Joins TASE Following Its Merger With Publicly Traded ICB Yahoo Finance
How to Become a Forex Trader and Whether You Should Market Realist
8 Best Crypto Exchanges For Altcoins Bitcoin, ETH, and More: Top Cryptocurrency Trading Platforms Reviewed - Miami Herald
8 Best Crypto Exchanges For Altcoins Bitcoin, ETH, and More: Top Cryptocurrency Trading Platforms Reviewed Miami Herald
Citi plans to launch crypto trading services, report says Markets Insider
Emad Echadi and Michel Geurkink — Forex Fraudsters EarnForex News
Ghana loses $200m to untapped online forex trading market Myjoyonline.com
EMERGING MARKETS-Most Asian currencies edge lower, Thai baht falls most Investing.com India
Fact and Fad about Weekend Forex Trading DailyForex.com
Germany's Privacy Watchdog Prohibits Facebook From Collecting WhatsApp User Data For 3 Months: Bloomberg - Yahoo Finance
Germany's Privacy Watchdog Prohibits Facebook From Collecting WhatsApp User Data For 3 Months: Bloomberg Yahoo Finance
EOS Soars 30.90% In Bullish Trade Investing.com India
2local Is Entering into New Partnerships with Bitrue Exchange and Crypto Payment Provider Simplex - Coinspeaker
2local Is Entering into New Partnerships with Bitrue Exchange and Crypto Payment Provider Simplex Coinspeaker
FX Traders Look Past Sell-Off In Stocks Investing.com India
Cryptocurrency- Hot or not The Times of India Blog
U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 2.48% - Investing.com India
U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 2.48% Investing.com India
Trading Support and Resistance DailyForex.com
GBP/EUR: Pound Holds Over €1.16 Currency Live
First Horizon Corp (FHN) President and CEO D Bryan Jordan Sold $4.2 million of Shares - Yahoo Finance
Digital Currency Trading Platform Market Witness Highest Growth in near future| Leading Key Players: Binance, Huobi Technology Co.,Ltd., Coinbase Pro – KSU | The Sentinel Newspaper - KSU | The Sentinel Newspaper
Digital Currency Trading Platform Market Witness Highest Growth in near future| Leading Key Players: Binance, Huobi Technology Co.,Ltd., Coinbase Pro – KSU | The Sentinel Newspaper KSU | The Sentinel Newspaper
What Is Forex Trading? Forbes
Top 7 Forex Trading Apps for 2021 IT News Africa
Next Global race to tapering ignites hunt for next currency winners BusinessWorld Online
Bitfarms to Present at the Benzinga Global Small Cap Conference and Participate in a Cryptocurrency Panel - GlobeNewswire
Bitfarms to Present at the Benzinga Global Small Cap Conference and Participate in a Cryptocurrency Panel GlobeNewswire
Forex Trading – How Do I begin? - NuWireInvestor NuWire Investor
CME's Micro Bitcoin Futures Will Increase The Addressable Crypto Market Investing.com India
Trading Lots and Other Eco-Friendly Forex Trading Strategies - Blue & Green Tomorrow - Blue & Green Tomorrow
Trading Lots and Other Eco-Friendly Forex Trading Strategies - Blue & Green Tomorrow Blue & Green Tomorrow
Best Forex Trading Platforms In 2021 Yahoo Finance
Things You Need To Know Before Entering Forex Trading NuWire Investor
A beginner's guide to Forex trading BusinessMole
Forex Market: Unlocking Opportunities for Investors Visual Capitalist
A comprehensive understanding of Forex trading The Portugal News
How to Trade Forex as a Beginner Finance Magnates
Next Forex Trading Terms You Need to Know Before Trading North Forty News
Trading via Currency Exchange Gary Skentelbery
Forex Brokers: Are They a Scam? | Investing | US News - U.S News & World Report Money - U.S News & World Report Money
Forex Brokers: Are They a Scam? | Investing | US News - U.S News & World Report Money U.S News & World Report Money
Most profitable forex pairs Capital.com
Making Money By Forex Trading The FINANCIAL
Best online brokers for forex trading in May 2021 Bankrate.com
COVID-19 and the Forex Market in 2021 Finance Magnates
The Currency-Market Snoozefest Might Not Last The Wall Street Journal
How to Trade Forex? - A Guide to Forex Trading in 2021 DailyForex.com
The Participants in Forex Trading and their Role in the Market Finance Magnates
Billionaire Bitcoin Investor Explains Why Tokenized Stocks Are A Big Deal...Outside America - Forbes
Understanding currency trading and its dynamics Nairametrics
Best Forex Trading Platform Choices of 2021 Fortunly News