There have been times when I made mistakes under pressure, but I don’t recall ever cracking under pressure. By that I mean I didn't panic, but I have come close. Being short soybeans when Chernobyl blew up was probably the closest. I've made huge errors in conduct - once I sat and lost $45,000 in a matter of minutes because I tried trading while teaching a student at the same time.
Lesson learned: Never trade and teach at the same time. Stay focused on one or the other. I once woke up to a margin call of $21,000+, but it turned out in my favor. I had erroneously left a 5-lot in the market overnight - thinking I was flat - the result of sloppy housekeeping.
Nevertheless, I have learned how to make trades in a relaxed, but focused way. I don't put unnecessary pressure on myself. I don’t let myself get stressed out - it’s simply too costly to do that.
I don't believe that I have to be successful on any one trade; I keep my focus on the big picture. I don't believe I need to be right. I don't try to impose my will on the market. And I definitely don't try to predict the future of price movement. The market is the market - it does what it wants to do.
What I do is to closely observe market conditions and movement, and make up a detailed plan of attack. I trade what I see, allowing the market to take me where it wants to go. I make a serious effort to stay calm and relaxed, and ready to act on whatever happens next.
Once I have a trading plan, I follow it. I do not doubt or second-guess my plan. I meditate on my plan and picture myself carrying it out successfully, before I ever enter a trade. I really believe in mental imaging as being an important activity.
I enter and exit trades without worrying about the consequences. Worrying has never helped me to trade well. Worrying is wasted energy. By staying focused, I am able to see trading opportunities more easily, and that allows me to take advantage of the opportunities when they arise.
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.
Are You Calmed and Relaxed When You Trade?
Tuesday, January 6, 2009
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