Forex Trading vs Mental Health
Forex Trading vs Mental Health – Introduction:
Too often when people search Forex Trading you see the mass number of traders living the lavish lifestyle, with no care in the world and actually being able to enjoy life without the day to day worries most people within society have. Unfortunately, what you do not see is the vast amount of your average person in society trying to learn trading based on these views, you do not hear about the struggle, rejection, failure, and the mental tole that it takes not only on themselves, but the people surrounding them.
We wanted our blog page to be different, so here it is. Within this post we want to really challenge the true depth and sacrifice traders go through and hopefully share some tips on how you can ensure you do not let the dream and desire of being a successful trader overcome you and cause more damage than it is worth.
The majority of people who try to learn how to trade fail. That is the simple fact; however, what you do not hear about is the lasting effects this has on individuals. Unfortunately, trading can be very emotive; often due to misinterpretation and false advertisement of trading can cause people to begin trading thinking it is a set income, and when they learn the hard way that it isn’t what they thought, this can be devastating. Especially when a lot of people can keep losing money or making large losses it can get to the point where you begin to despise yourself, you feel like a failure and feel like you are no good.
Let’s just say it now – YOU ARE NOT A FAILURE.
Everyone who trades has gone through these emotions. If you only take one thing away from this, please remember only invest what you are willing to lose; Forex trading is hard most people give up or do not have the patience to continue. Have realistic expectations and mentally prepare yourself before getting into trading. Do your research, budget your investment, and keep practicing and remember failure will be expected.
Take Care Of Yourself:
When I first began trading, I found myself constantly checking my phone, from the first thing in the morning to the last thing at night and I became submerged in stress and frustration; I felt my mental health getting progressively worse, I was angry and frustrated at everything and felt like I couldn’t do it, but I just kept trying and it kept getting worse.
You need to have set trading times that you will be logged on and then stop; remember there will always be another opportunity. If you keep failing, then you need to stop and re assess look to see what you can change or be more knowledgeable on and then go again when you feel reassured try again; but implement strict risk management; be prepared to cut losses or have a max loss percentage and be disciplined in cutting it. By limiting losses, it will have a profound effect on your mental health.
Remember what you are going through is normal; it is okay to have a break or step away and re assess sometimes it is needed. Don’t be afraid to ask for help and be mindful of those around you; they are your biggest support. Trading is always about self-improvement and not just profit; keep that in mind.
If you are ever feeling low and a lost as what to do, please email us on firstname.lastname@example.org we are here to help free of charge the biggest step is just asking for that helping hand.
As always everything stated within this blog is our opinion, we are sharing our views only in the hope to help.