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They can... what about me? Forex opportunities

Thu, Nov 5 2009, 14:00 GMT
by Tomas Cedavicius

Investija.com

Today everyone is trying to earn as much money as they can and most of them do forget all the other things that matter in life. Even though some of them succeed by becoming millionaires, greed acts an important role on their life. How do we cope with greed, our emotions depend on our personal characteristics. Nowadays the popular way to try to grab a big piece immediately is at Forex Market where all the emotions are gathered from all the world. Forex involves greed, emotions, fair and more factors that drive the market. When not experienced trader enters the Forex market, the other ones that sit for a long time take novice trader's money. Determination, discipline is what we are looking for in a market to become one of successful traders.

Usually we ask ourselves, why they can, but I can't – what's wrong with me, do I miss something, how do they do that? Some people say, that “it's impossible to become a successful trader but I am still going to try to play with Forex Market and see what happens”. By saying to ourselves the word impossible it will be actually impossible to be successful anywhere, not just in Forex market. Success has it's cost, by having some sort of discipline we usually try to control ourselves and stick to the rules that we wrote down. If we try hard and we really want it – we can get it, even though it looks impossible to reach.

First of all whatever you want to achieve, write down your goals that you want to reach in one year or five or more years doesn't really matter. Write down, not just in your mind, but physically on a paper. Writing helps to generate more ideas and you start to think deeper. To trade in a Forex market you need to find and create your strategy, the one that you feel comfortable with. Why do we need strategy? So we can create a set of rules that are based on a strategy. For many years, personally me and my company been using Support and Resistance method and successfully following that method. Support and Resistance lines describe the psychological barriers in a market where bulls or bears are going to sleep or to wake up. It is easy to use this strategy and by following the rules great results can be achieved. I do not want to write how you can become a millionaire during a night, just want to let you know that positive thoughts, taking actions to the different situations in a market, writing down your positions, noting what was wrong, and answering to yourself why it did go wrong – the next time the same situation appears, you'll do it right. We do learn from our mistakes and never give up if you truly want it.

At the end, I want to say be motivated, try to avoid your emotions if they lead to losses while trading, be disciplined person. However it is easy to influence a person to become more negative by just saying on regular basis that you are not going to succeed and you do not have any chance. Some of them finally do give up, however some of them just get stronger and at the end of a day - they succeed.

Think positive, and positive things will happen to your live. Everything is possible even though it sounds not realistic!

Published on  Thu, Nov 5 2009, 14:49 GMT