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Trading obsession isn't healthy for a trader

Posted June 19, 2018 by Rosali Gabby to Banking 1 0
This post was written by a EasyFinance.com Community member. The views expressed below may not reflect the views of EasyFinance.com.

Whatever we do in life should have a limitation, if you are doing something obsessively it may not be healthy for you. In the Forex world, it is really difficult to stay away from addiction. You wouldn't be able to control yourself even if you want to. For example, if you are just a starter and if first few trades were positive, you may eventually end up trading without a limit. You wouldn't even think twice when entering into trades but this happens due to obsession. The trader who has just entered the market doesn't know the market reality, but it is not healthy for a successful trading journey. First off, as a starter, you should know that you are not aware of the market like the pro traders. Second off, you do not have the experience in trading. These two are really important when dealing with obsession. You should not get attached to trading just because of the first good trades. The oh-so-great moments will not last long in the trading journey. You should be really careful when dealing with the trading world as a newbie. However, in order to become a pro trader, you should be detached with the trading world. You should look at trading like a business or a career. Nevertheless, there are certain points that a starter should know, let us get some knowledge about it.

The more you will learn the better you will become at currency trading. Never let your emotions to trade the market on behalf of you. Take your time and learn the proper way to do a market analysis. Spread betting is nothing but dealing with the risk-reward fetors of the investment world. So learn to trade the market with managed risk and embrace your losing trades. Stop trading the market in the lower time frame and focus on quality trades.

Ups and downs in trading

You cannot expect a linear movement in the trading world as it is impossible. The trading world definitely involves ups and downs. You cannot manage yourself in the Forex market unless you master your skills to handle ups and downs in trading. Basically, there are most active currency pairs as well as inactive currency pairs, but what matters is how you deal with them. You should have the complete understanding of market movements to know how it works. If you cannot deal with ups and downs in the market, you wouldn't be able to make use of the currency pairs. However, as for many traders trading is ‘stressful' but it is not that way. It depends on the person who trades the market. If you deal it in a smooth, well-planned manner it can be stress-free but if you complicate it then, you would have to handle stress. You should move with the market flow if not things may not be as you expected.

Reduce the attraction to the charts

Usually, kids tend to follow a habit when we appreciate them and they feel good about it. So this applies to traders in the Forex market. If you ask why it is because they get influenced by the positive trades they enter into. If they come across one or two positive trades they expect it to be the case for all the other trades that come in their way. This will make the traders be obsessed with chart-watching and it is not at all healthy.

Sleep matters over anything

Basically, when a trader is obsessed with trading he doesn't mind sacrificing his sleep. But do you think it has any good? Well, as a trader you should know that sleep matters over anything. You would have to value sleeping as it helps your mind to focus on trading. If you don't have enough sleep it might be difficult to decide the right thing. So to sum up, trading isn't about obsession rather it is about passion.

About Rosali Gabby: Writer and Blogger.

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