in Journal

Mindset is the key to trading Forex

For last two months, i have been struggling in the market. I feel i’m not on the correct state of mind. Market is doing great and it’s thing. Lot of volatility , very ideal to make ton of Pips. But an invisible force is dragging me down , not quite sure what it is.

Perhaps it is the lock-down , the pandemic , things around me shuttering which is affecting my mind. I’m little worried about my parents back home in Bangladesh. Covid situation is pretty bad there. Due to their age, they are vulnerable to disease. Worse part, i won’t be able to fly if anything happens.
Then comes my day job. I’m glad that i have a job at this bad time. I’m working on reduced salary at the moment as business is super bad.
Then the tensed atmosphere at work is not helping my mind at all.

I’m trying to stay positive as much as possible. But these are the things out of my control. It is the silent attack like depression, you think you are fit and healthy but mind is deteriorating every day unknowingly. Not that i’m depressed, just a hindsight example. At least i’m able to check myself everyday and i know exactly the state of my mindset.

On the positive note, i have a boy now. He makes me happy every day. I want my forex business to success only for him. I want to give him a good life, just like my father gave to me.
Not sure if the pressure is mounting on me , but it seems i’m not approaching the market like before. I’m seeing things different. I guess these are all part and parcel of professional trading.

Coming from South Asia also not helping. We are very emotional and weak by nature. We tend to blame others for our own failure. This is the reason why perhaps it is not common to see famous and well-known trader from India or Bangladesh.

New traders always work on strategy, system and indicators. I hardly know any traders who started with mindset first. The forex guru’s out there rarely speaks about it. If a new trader starts with Mindset first, things would be quite easy to approach the market for sure. They would be on right frame of mind.

The importance of strong mindset , i have realized this after 3 years of trading. I have written similar blog about mindset in 2017. I’m surprised to see i’m persistently having this issue time to time.
Trading the market is not easy. Just 1% traders are successful in this business.

Now the million dollar question : When would i be in that exclusive 1% club ?

soon may be.

stay safe traders.