The forex live market is often viewed as a rather aggressive environment where traders engage in a power struggle when conducting trades. Yes, it’s true the market can be volatile with fluctuating with trends shifting instantaneously. Yes, traders do have the capacity to change, alter and effect changes in their trades. However, these traders are not aggressive as ‘power struggle’ suggests. This misinterpretation of power is generally due to power being synonymous with force.
A ‘no fight sign’
While force is viewed as hostile, power is the opposite thereof. Power is the capacity to change but in a more creative manner. Force requires an ‘ends justifies the means’ approach, whereas power is more visionary in nature. Power allows an individual to create a vessel of change through a process over a spectrum of moments, all of which are creatively constructive and working towards one particular goal. This can be seen in trading via the development of a trading plan, a trading strategy and the ultimate use of this strategy in trading forex live.
An individual who chooses to utilise the concept of power and capacity for change requires particular personality characteristics including self-trust and a strong sense of self-worth. It is important for you to believe in yourself, your goals and your intentions. By being confident in your work and the procedure you will develop a positive approach and positive outcomes.
Power can be cultivated within the forex live markets by building your integrity. This is important as it provides one with a strong sense of satisfaction and acceptance when the trading actions and psychological mind set are in alignment. This alignment leads to positive attitude and consequential positive trading. If you are engaging in behaviours which don’t agree with your integrity, such as diverging from your trading plan or engaging in emotional trading, you will destroy that alignment leading to negative behaviours and detrimental losses.
Addressing the emotions on the forex live market
Emotional trading is one of a forex live traders worst enemies. There are various emotions which can influence the developing of power.
Often traders will experience a succession of profitable trades which can lead to the natural emotion greed. The continuous profiting may lead a trader to a false belief that he cannot incur losses. He may begin to divert from his trading strategy altering his integrity and begin to place larger trades without a consideration of the risky consequences. It has been seen that once this emotional trade does end in a negative result such as a depletion of a trading account, the trader will experience dysfunctional coping strategies instead of functional ones.
It is inevitable that traders will experience at least one detrimental loss in their lives. While some traders have mentally prepared themselves to accept this loss and continue, there are those who allow this loss to influence their mental states greatly. These traders often find their integrity deflated and may experience a fear of failure. It is this belief that they will fail when trading that disallows the redevelopment of power. This emotion of failure is natural, however to re-enter the trading market it is important to re-align your trading strategy with a positive attitude. It is recommended that a break away from the forex live setting to rejuvenate will assist with this difficulty.