We need to be psychologically strong to make good money like experts.

[aadrika]

A strong and good trading psychology is required to for good and successful forex trading. If we are not psychologically we might make lots of mistakes based on our emotions. Making profits in forex is 20 percent strategy and 80 percent psychology. This is what I read from a trading manual on candlestick chart patterns strategy.

[maliknas]

Being strong psychologically is one of the basic needs of forex trading because forex trading is a mind game. Our profit and loss just depends upon our timely decisions so if we are not strong psychologically then we can become big losers.

[niks]

Yes thats very true. I had my major losses just because of emotional trading .
I don't know how experts control there emotions when there is huge money involved .
I know they are confirmed about there are analysis but still market can move anyway ,
No guarantee, so how do they control emotions ?

[Anand]

Psychological matter always effect traders mind.When we are made psychologically strong then take right decision and trade.Your judgement takes you profit and accuracy.

[shinde]

Traders psychology is the mindset of a trader and his mindset like confidence , faith in his abilities and skills , motivation , determination to perform better , patience and discipline are all part of mindset of the trader.

[yogesh]

One should have phsychologically strong mind to succeed in trading, confidence and determination are important as well. Those easily understand the psychological behaviour of others also have good chance of winning as this is very important if you can judge the mindset of all other traders.

[realfun07]

Traders psychology is the mindset of a trader and his mindset like confidence , faith in his abilities and skills , motivation , determination to perform better , patience and discipline are all part of mindset of the trader.

[mayengbam]

there are many factors for failure of a trader, pshcycological factor is not the only one.

yes its right that we need to be pshycologically strong in order to live on forex. to make consistant profit one need to develop a good and working strategy and it need to be followed strictly, which requires a strong character and pshycology

[Jazpa]

Psychological disasters are responsible for the fall of the traders in forex trade. One who is psychologically affected a lot will never let himself/herself to trade successfully. Those will only be successful who is able to manage the psychological aspects. If one is able to be psychologically strong, then trading will be a lot easier. That is why experts traders never let psychology affect their traders. They are psychologically strong and hence make lots of money. So if we need to earn like them definitely we need to be strong like them.