CONDITION FOR FAILURE IN FOREX

 

Forex is the biggest industry that can give you the wrong JUSTIFICATION for your failure and make you believe your right. So how can you know your right or wrong to an industry where wrong and right is justified by you. Lets dig deeper... 

There is a lot of blindspot in forex industry that can result to failure, but we are going to discuss the biggest and one am falling into.. 

A lot of books are telling us that the biggest reasons for failing in forex is our emotions and the top list are 

-Fear

-Greed 

-Hope 

Even pro traders experience these emotions and they say the toughest one to control is FEAR. So what do they do to stay at their peak performance? they realized that being uncomfortable when trading is ok. 🤷🏽‍♂️

So why is the novice trader falls into infinity loop of these emotions

Failure to Specify Our Damn Goals

 The reason a lot of us we fail or don't want to specify our goals is that forex industry can allow you to make so much money that a lot of traders feels no deed to put a number (an end goal). If you ask a trader how much money you want to make they will just tell you A LOT. What is the meaning of A LOT. A lot is like hitting something blindfolded, and how are you going to hit something if you don't know what it is? if this is your wish well isn't going to happen. 

Another reason why traders don't want to write down specifics is we don't want to set conditions for failure also. So we keep ourself all vague and foggy, which is real easy, cause that just the matter of not doing the job needed to be done, then what will happen is we will not know when we fail. 

A smart trader has both a winning plan and losing plan. A losing plan is a plan for what if things dont go our way and a losing plan is the hardest to write it down because no one likes to fail. 

Failing is painful and everything pain related we are always trying to avoid it, its human nature. But we will keep ourself blind when we fail and we will fail all the time we just won't know it until we've fail so badly to the point of no return and that can will easily happen by the time we are 40s and 50s (years old). They call it WILLFUL BLINDNESS (Refer Jordan Peterson). 

Your blueprint why your in this industry is the key to unlock a lot of difficulties in your trading journey. What attracted you to join forex, And be honest to yourself.

I mean FEAR can be conquered by FAITH and faith is believing in what the future hold, and if the future isn't clear enough to our mind nothing happen.

In order for a plan to work you need 

-Self question 

-Self Estimation 

-Recognition of the Goal

_Period Of time 

-Scheduling 

-Roetine Building

-Time wasted 

-Scanning for source of time wasted 

-Capacity to work and final 

-Work to be done 

We will talk about how to set goal in forex another day.

So you want a lot of money? the industry will tell you I have no limit, which is right. On other end you have to put the meaning to what is A LOT OF MONEY. 

TAKE HOME

-Specify your damn GOALS 

If you do not know your purpose then everything you do in trading is WRONG. 

LogicFxTz... ✍️