Everyone that is trading forex wants to be a successful trader. It is also something that I want and haven’t got there yet.
You see, I’ve had my short lived success in forex trading but I haven’t stretched it far out enough to make a living trading forex.
Where I am in my trading life right as I’m writing this is more about evaluation and finding the reasons why I sabotage myself in trading and get rid of those bad trading habits.
That is my big focus.
And believe me, it is not that easy because I’ve tried and I failed many times.
I don’t know…I really don’t have any answer.
The problem that affects most traders like me and maybe you reading this right is that you get into destructive trading habits that are quite hard to get rid off.
10 Questions To Find Out If You Have A Trading Problem
Here are ten questions that a professional psychologist might ask in order to assess if you are an Addictive trader or not:
1) Have you found that your trading is bringing unwanted, negative consequences?
2) Have you recently felt guilty over the way you have been trading?
3) Do you find you need to trade more just to get the good feeling?
4) Do you find that your personality changes when you trade excessively?
5) Do you find it difficult to take a break from trading, even when part of you knows that this would be best for you?
6) Do you find yourself trading to feel good about yourself?
7) Do you sometimes feel that you cannot control how much you trade?
8) Do you find yourself getting angry when someone close to you questions your trading?
9) Do you find yourself vowing to limit your trading, only to slip back into overtrading?
10) Do you find it difficult to not trade given the opportunity, even when the occasion is not really appropriate?
If you answer yes to the 10 questions above, you are an addictive trader.
Successful Trader Vs Addictive Trader
Addictive traders NEED to trade; they have a passion for action and excitement.
If you are an addictive trader, you will not manage your risk.
Because risk is part of that high.
If you are an addictive trading, you will not stop trading, even when you are losing money.
Because, action, not profit is your goal.
If you are an addictive trader, you will cycle between periods of guilt and responsibility and periods of excess and irresponsibility.
On the other hand are the successful traders.
Successful traders like trading and they really do want to trade. As a matter of fact, any successful trader has a really solid passion for trading.
Successful traders trade actively. Addictive traders overtrade.
Fear And Greed In Trading
You’ll never know how greedy you are until you start trading with live real cash money on your trading account.
Fear and greed are potent influences on forex trading or any trading for that matter.
But you see, that itself is not a greatest problem. The problem becomes serious when it becomes addictive.
It just like those people that may have a few drinks in a month vs those people that have to drink ever week.
A successful trader learns to control fear and greed. Anyone who says you can eliminate fear and greed is telling lies. As long as you are human, fear and greed is part of you. Only robots have no fear and greed.
You just have to find a way to control them so that they do not negatively impact your trading.
Where Are You In This Trading Profile?
Where do you fit in this profile? The successful trader or the addictive trader?
I know where I fit in this category and it is not good and I’m working to improve that.
If you see yourself in this addictive trader profile, do the right thing, before your patterns ruin your career and harm those who depend on you.
You can change. I can change. Your trading and your happiness lie in the balance.
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