It is about Why Boring Is Beautiful in Forex Trading.
If you are into forex trading, maybe you might want to read it...
Why Boring is Beautiful in Forex Trading
If you’re trading properly, it should be boring. You should be doing nothing most of the time and you need to learn to embrace, to even enjoy doing nothing in the market, because as I will explain in today’s lesson, a bored trader is often a successful trader.
Boring is ‘beautiful’ in trading because it usually means you’re making money over the long-term. As opposed to the traders who are on an up and down thrill-ride through the market that is defined by high highs and even lower lows, a successful trader knows more or less what to expect each day as he or she enters their trading room. They know what they will do if X, Y or Z happens, they have a plan, they control themselves rather than let themselves be controlled by the ups and downs of the market, so for them, trading is basically boring.
Money is attracted to a trader that can control himself or herself, not to a trader who is all over the map and has no consistency, logic or discipline in his or her trading. Controlling yourself, is usually ‘boring’ by most accounts, because it usually means not giving into temptation and to how you feel in the moment. However, as you probably know, controlling yourself is also the way you achieve long-term goals that can change your life and which are much more meaningful than any short-term temptation.
Let’s discuss why boring is ‘beautiful’ in trading so that you will learn why you need to make trading ‘boring’ if you want to start making money in the market…
Trading is not your daily / nightly entertainment.
All too often, traders look for entertainment from the market, and even if they aren’t purposefully ‘looking’ for entertainment, the way that they trade certainly provides it. Trading can certainly be enjoyable, especially if you’re making money each month, but experiencing ‘entertainment’ and getting a thrill out of trading are the wrong outcomes to be looking for.
Based on my experiences and observations, if you feel entertained or excited by trading, be warned, it’s a sign that you’re trading improperly and it will lead to your downfall in the long-term, both mentally and financially.
If you feel excited, thrilled, angry or frustrated, each week in the market, you are not trading properly and you’re experiencing too much emotion as a result. Your day-to-day trading mindsetshould be one of clarity, calm and be relatively boring if you’re trading properly. If you trade in this manner over a long enough period of time, say 6 months to a year, you will eventually see consistent results and profits, and at that point, it’s OK to experience satisfaction and to be content with your trading performance.
Thus, you should be aiming for a longer-term feeling of contentedness and satisfaction with your trading results, and this will only come if your day-to-day and weekly trading experience is not marked by extreme highs and lows, but with consistency and a feeling of being ‘bored’, which is the result of trading with proper patience and discipline. Trading in this way will lead to a meaningful type of happiness with your trading that you will not achieve otherwise.
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