Fake It Till You Make It.

Trading is a mind game. One of your biggest challenges is to convince your mind that you deserve to be financially successful. This video deals with the mind game you can play in order to achieve your trading goals.
Trading is a battle of the mind, and the winners are those that understand this and who have taken steps to control their own thinking. Please feel free to comment. Spider.

www.spiderstradingweb.com

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Category:

Howto & Style

Tags:

• money
• shares
• trading
• Australian
• market
• Conversation
• with
• God
• Fake-it
• make-it
• incrediblecharts
• Finance

[spiderstradingweb]

Charts are your best bet for seeking out good trades.

There is an excellent book called "Profiting in bull and bear markets" by a bloke named Wienstein. Read it, it will help. Then ask me some more questions.

spider.

[spiderstradingweb]

Forex is a graveyard for new traders (and old traders for that matter) I would suggest that you trade shares or the share index until you can successfully trade and be profitable over a long period of time.

Stay away from leverage at this stage, one wrong move with leverage and you are out of the game. Your only goal should be to stay in the game long enough to learn the things you need to learn.

Trade to survive, and if you can manage that you will be one of the very few who make money.

[spiderstradingweb]

The problem you have with forex markets is that they can and are manipulated by goverments, who have very long pockets. The Japanese have often intervened to prop up or drive down the value of the Yen.

The US dollar only began to decline after President Bush said in public that the government would not defend the dollar! How would you like to have been long the dollar on that day?!

[spiderstradingweb]

Price in all markets is determined by how aggressive the buyers and sellers are. For example, if I believe that a certain currency is GOING to go up I may be tempted to pay the asking price in order to not miss out on the move. If enough people feel the same way the price will move up as they will overwhelm the sellers. It all depends on which group has the strongest belief.

[spiderstradingweb]

In the meantime, be good to yourself and those around you.

spider.

[spiderstradingweb]

I tried to send you a direct message but the server was busy so I've put some answers and ideas here in the comments.

spider.

[spiderstradingweb]

You mentioned in your post that "for some reason, I felt like the life had been kicked out of me and it's been like that for months now". Can you explain what you mean by that. Did you lose a heap of money or did the pressure just get to you?

While you are considering what I have written here let me say that forex is a tough market for an experienced trader (I hope that I'm not jumping to conclusions here). Forex is a 24 hour market and the pressure of that can be telling on any trader.

[spiderstradingweb]

The big battle is not with the market but with your own mind. Your reaction to what has happened to you is a classic example. You are hurt and confused, and that is fair enough it should hurt, but the real question is what have you learned so far? I would suggest that because you took the trouble to post your feelings, that you are not quite ready to quit and walk away. If you walk away the pain will stop, but something is keeping you here.

[spiderstradingweb]

morph654 your question requires an answer that is way too big to to squeeze into 500 characters, but I'll make a start. Firstly, I understand your pain, all traders who have been around for awhile have been where you are now. The problem with trading is that it seems so simple, and up to a point it is. What you don't realise when you get into this is that you are bringing some baggage from your previous experiences, and your pre-conceived ideas about money.