How to manage negative thoughts while trading Forex – valuable tips
Have you ever experienced negative thoughts while trading Foreign currency? If so, you aren’t the only one. Many traders worldwide are dealing with much negativity that creeps in, especially during losses and unpleasant situations in trading.
As you probably already know by now, Forex trading is known to be a passionate pursuit. It takes losing only a couple of trades to become very stressed and depressed. On the other hand, you can get an unrealistic boost of self-confidence once you have a winning streak. Easy as that.
Once we are trading with a reputable forex broker, intensely engaged in the markets, we tend to have different beliefs and thoughts. Negative reviews can often get out of our control, especially when we are not paying so much attention to them.
So, what can traders do when they are feeling down and lost? Here are some valuable tips from trading professionals.
Always be self-aware and learn to calm down.
While you’re feeling stressed over some unpleasant trading situation, it’s essential to close your eyes and remain still. Don’t think of anything; close your eyes and focus on your breathing for a minute. Your brain will start producing more peaceful thoughts.
Now, the “observer part” of your mind will notice what you are thinking about. So, it’s essential to understand that your mind can be an “impartial observer”. It means that every one of us has the mental capacity to control our thoughts and that we can be self-aware. To develop a self-awareness technique, tune into the sounds around you. Be calm.
Understand how helpful your thoughts are for you
After you realize how your brain and thoughts function, you can ask yourself how valuable are your ideas for your sake? It is essential to learn to evaluate your thinking patterns and the validity of your thoughts since they can be very detrimental to your trading.
Understand that your thoughts are pervasive and invasive. Managing your thoughts is one of the hardest things you can do because you need to have reasonable control over your thinking before you let the thoughts control you.
To alter your thoughts, you can try to stop suppressing your thoughts and practice observing thoughts. Once you succeed in that, you can be able to “un-marry” them. Many thoughts represent mental events that are often not true. We don’t get married to our thoughts, and it is okay to change your thinking.
Remember that nothing is permanent – the bad times will pass.
Forex trading includes precarious situations. It’s no secret that almost 85% of beginner traders quit trading because they cannot cope with these risky situations and huge losses. They quit Forex even before they’ve ever really tried.
Remember, no pain, no gain. However, that pain is never permanent. Each trader must overcome their fears and self-doubts. Once a trader overcomes this stressful situation by learning how to manage his thoughts and emotions, he’s on a good path toward success.
It’s essential to know that thoughts do affect us, both negatively or positively. All market events are filtered through our own rules, beliefs and opinions. Keep in mind that Forex traders who manage to maintain themselves in the most liquid online financial markets in the world are the ones who are in reasonable control over their emotions.
You really need to learn how to control your emotions, therefore trading, and keep investing your time and energy into trading psychology. We promise you won’t regret it! Good luck!