Forex Psychology is divided into two, namely market psychology and mental trader. Market psychology associated with forex analysis both technical and fundamental. While “mental trader” was associated with the ability to manage their emotions and behaviour when doing trade in forex market. Such as discipline, consistency, no rush in making decisions, etc.
Market psychology and trader perceptions influence the foreign exchange market in various ways. For example when some economic reports and numbers was released or will be released then the number itself becomes important to the market and may have an immediate impact on short-term market moves. For example in technical analysis, the accumulated price movements in some currency pair can form apparent patterns that traders may attempt to use.
If trader couldn’t manage their emotion, then trading in the forex business can be very stressful. We need to learn emotion management by knowing mental successful trader. A good trader have positive mental behavior when facing the market such as discipline and consistent with the trading plan, no rush in making decisions and applied the trading as a game.
Learn forex psychology through these forex ebooks below. Hopefully useful for you.
0 التعليقات: