Perhaps, you have heard of some Forex market traders, feeling upset when they assume losses of about $100, however, thinking they are perfect on gaining $1000. Naturally these traders are not neutral. If you consider that you belong to the same category of currency market participants, it may signal that your intraday strategy is ruled by greed and fear to lose everything. Noticing $100 loss you would not accept it as it may result into emotional stress. The same happens when the price moved into the desired direction and traders feel that $1000 can be sufficient gain. Nevertheless, such players of Forex currency trading waste an opportunity to increase their gains fearing that the price may reverse.
Professional intraday traders do not allow price fluctuations trouble themselves. They are not bothered, when some losses happen, they accept defeats as something usual. The main idea is to treat your small losses as steps to higher profit in Forex intraday trading. The trading results of a separate week, whether they are promising or completely frustrating, actually do not make up the whole picture of market trading results. These results should only boost people to draw some right conclusion. Thus, if a certain trading week brought to you profit, it may imply that the chosen Forex trading strategy was picked up accurately and the same methods and techniques should further be implemented. The sustained losses, should they arise should make one think that the trading system do not correspond to one`s needs or a trader is not capable to implement it in practice.
Emotional upturns and downturns are quite common states of mind of the beginning intraday traders. These traders who feel overwhelmed by emotions are recommended to resume trading with a free demo account to master their trading skills as well as struggle against emotions. The main idea here is not to let fluctuations drive your mind staying neutral. Our life is full of events neutral in nature and only people treat them positive or negative. Have you ever witnessed a situation when the rate moves not into the desired direction and you start looking for reasons why this trade is worth holding? This can be dangerous for Forex intraday trading plan fulfillment as it leads to disruption of their stops and massive losses.
Being an intraday trader, your criteria of entering and exiting should be completely clear before starting trading. Shifting and adjusting of an intraday currency market strategy while trading with positions open is the worst thing that may happen in the process of Forex online trading. Shifting from responding to forecasting should be avoided. Intraday trader is recommended not feel or forecast market movement, he ought to know what exactly is happening being prepared for everything. Put actual price movement at the center of you market strategy not mixing long-term investment with intraday principles.
Many experts in Forex trading recommend to open a separate account and use it for trading on fundamental news and releases. Again, starting with a free demo account appears to be the best solution.