Learn To Trade Forex
They say that trading forex or binary options is a zero sum game, this is why we have to manage our emotions more effectively than other people are.
You see one of two things will happen when you place a forex or a binary options trade:
It will win and your brain will be flooded with dopamine which will make you want to chase another good trade
It will lose and your brain will be flooded with cortisol which will make you want to win even more so your brain can release that feel good chemical dopamine again!
You can trade forex or binary options and have the same outcome depending on where you put your stop loss, and take profit.
You know that you should only take a trade if it’s screaming at you, it’s been going down to the same support level and rebounding strongly for the past 45 mins, there is no news that could affect that currency pair and you know that its a good set up for you to take the plunge and put your money on the line.
But many people know this and they are not acting on the best set ups every time they take a trade, it’s not about making a profit for these people, it’s about getting high on the same feelings that they would get if they were at the casino.
If you want to get high go to a casino, exercise, do whatever you like to do to get high BEFORE you start your trading sessions…
Because I can guarantee that if you do you will find that you take trades because they are good trades not because:
You want to make money
You want to feel good about yourself
You want to impress your friends
You want to make $300 by 11am
You want to fill up your ego and feel like you can predict the future…!
You just place trades because you know that they are good trades when you feel fulfilled before you sit down to trade, because sometimes the market will do what you expect it to do, sometimes it will not, but if you trade news and use our other secret strategy that we will give you when you join the trading room your results will be consistent and you will make more money than you need to live a reasonable lifestyle.
But to be a good binary options or forex trader you have to be patient and committed, and most importantly you have to do something, anything before you sit down to trade that makes you high, whatever that is for you is irrelevant, some people get high watching tv, some people get high meditating, I feel high after I’ve sung at a venue. It doesn’t have to fit anyone elses box of what is fun or entertaining. As long as it makes you happy, and it makes you feel good please do it before you start your trading day.
Day trading is obviously much more challenging than investing over the long term the way that someone like Warren Buffet does, but day trading is not for everyone, you have to have the correct emotional make up to be capable of managing the emotional roller coaster that comes with trading, and when you are learning to trade forex you have to increase the size of your trades gradually so that you can get used to it.
Anthony Robbins talks about a special strategy called “the hour of power” I would highly recommend this as a way to start your trading days feeling good so that instead of relying on the financial markets to make you feel good, you can make yourself feel good.
Then you will be able to trade and be detached from the outcome, not every trading day will be good, whether you’re learning to trade forex, stocks, binary options, digital 100s, nadex or straight options, you will not make loads of money every day, you HAVE to be ok with that to make a lot of money as a trader.
Unless you are a multi millionaire you will have to accept the rollercoaster ride, you will make money but you will have to look at your trading profits over the month, not over the week.
And never over the course of a day
I have a few forex and binary options strategies that are statistically sound so you can have a smoother ride as a trader, when you sign up to our trading room I will show you them.
Until next time, enjoy your day whether you make $4000 or $400
Make enjoying your day as a day trader your top priority!
Join our trading room at www.Elizathetrader.com
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