If the assiduous study of market analysis and money management - an obvious step to becoming a successful forex trader, to control their emotions, traders often overlooked, though it is - a necessary step for setting trading results in dependence on reason and intuition, rather than of fleeting impulses. Controlling emotions in Forex trading is - finding a balance between greed and caution. Almost any known psychology practices and techniques can work for Forex traders to help him keep the chosen strategy, and do not obey the spontaneous emotions. The problems that you will encounter as a professional Forex trader:
- greed
- Excessive trading (overtreyding)
- lack of discipline
- uncertainty
- Blindly following other people's forecasts
But there are very professional books on psychology written specially for financial traders:
- Psychology of Forex Market
- Psychology of Finance
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