Having A Winning Mentality

Filed under: Learn Forex Trading |

Following on from yesterday’s article, “Learning to Lose!” today I would like to say a little something about the importance of having a winner’s mentality.  Every top person in every field has a winning mentality. Yes, they are very good at what they do and their various techniques and, in the case of sportspeople, their fitness, are the best in world. But in the end, it comes down to attitude and believing in yourself; and this is what takes winners over the line – that self-belief.

 

The best way to start to develop a winning mentality is to win a few times! I know that sounds like a “chicken and the egg” situation, but if you can just win a few times and enjoy the feeling and satisfaction, that will in itself drive you on to future successes. Another thing you can do, as discussed yesterday, is take away some of the fear of losing. Fear disables us and limits our performance. In the world of forex trading, this means that you start to over-trade or put on trades that you normally wouldn’t, or you might become so fearful that you never make any trades at all! So fear is a very important emotion to over-come if you want to be a successful trader and having a winning mentality.

 

Finally, you need a good system or trading methodology that you believe in because you have already thoroughly tested it over a long series of trades. And, you also need a bank of money to trade with that you can afford to lose. If you are trading with money that you need to buy the groceries at the end of the month or pay the rent, then this breeds fear and this will have a negative effect on your trading performance. If you follow some of these very simple guidelines, it will help you on your way to becoming a successful forex trader.

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