What is the first thing that you do when you want something with an intense desire? When you want it so bad you can taste it? When you can feel the desire in your bones? When you're driven by a desire that leaves you hungry for it? With this kind of emotionally passionate focus, you automatically begin to think about "how" you can get it. In other words you begin to plan. The "how" or "plan" charts the way to achieving the desired item...no matter what it is and no matter how small or large. Planning is essential to the process of achievement and without it you would come as close to accomplishing the goal as you would if you were to be blindfolded and spun around and given a bow and arrow to hit a bullseye 100 yards away. Trading requires planning at both the macro level (the big picture) and the micro level (the small picture or plan for every trade).
For optimal performance, it is important to learn the top emotions to expect from forex trading. By becoming familiar with these emotions, forex traders can better equip themselves with the right strategy and the most suitable mindset. Whether you are experiencing stress or excitement, emotions can greatly influence forex trading results. For continued profitability and strong mental health, take control of your well being and become aware of the inevitable emotions of forex trading.
Support and resistance levels or supply and demand levels are the backbones of technical trading. Regardless of the type of technical analysis methods used, be it an indicator based trading system or a price action based trading system, support and resistance levels plays a crucial role.
"You need to figure out how to make money being right only 20-30% of the time." – Bill Lipschutz
As most aspiring traders should know,...
ActionForex.com was set up back in 2004 with the aim to provide insight analysis to forex traders, serving the trading community over a decade. Empowering the individual traders was, is, and will always be our motto going forward.