Forex traders get into trouble when they are rigid in their beliefs.
the problem of inflexible minded traders to trade the markets are rigid. They trend, but they can turn the other direction, leaving the trader with a solid hard decision to make ... To stay and hope the market will rebound or get lost and cut short.
Part of this stubbornness in the trader's obsession with always being right no matter what the evidence proves them wrong. Such a trader May even know they are wrong, but still insist otherwise. They have a hard time admitting defeat and do not want to lose face.
until something happens to a disaster, for example, getting margin calls, traders and rigid thinking will not change their beliefs set in stone.
You May Be One of these retailers, and not even realize it. Having to be right just beyond your ability to think clearly. Rigid thinking that prevents from taking corrective action on your trades, so you can cut your losses and be ready for another chance, whether it is diverted from the long to short.
is determined not to have a rigid view of the markets. Be flexible in your thinking is better than being right about market direction. They say that the market does not care what you think. It does not matter if thousands of other traders agree with your view ... the market decides which direction to go.
just believe you should keep it that need to be flexible and adapt to change.
Copyright © 2009 Chan L