The psychology of forex trading is all about human emotions which are involved with trading and it comes in play when forex traders are investing. Forex traders are exposed to a lot of stress during trading regardless of whether they are earning or losing; they just want to continue trading. This kind of way off trading where human emotions are involved can produce a lot of losing trades and it will lead to losing the account and discouragement.
When it comes to forex trading like any other job taking a break once in a while is essential and very important. Forex traders especially beginners can find it very difficult to pull themselves away from their trading platforms trying to accomplish their goals as soon as possible. Being aware when you should take a break from trading should be a part of any trading plan and any trading strategy; most successful traders know when it’s a good time to take a break.
It doesn’t matter what your situation is, if you ever feel stressed or discouraged you should definitely consider the possibility of taking a break and find your way to get relaxed and rest so you can get rid of the stress that’s bothering you; you can always come back and keep trading. Sometimes those breaks can be short like an hour or two depending on what’s going on, but there are moments when you should take a longer break like a few days or even a week in order to refresh yourself.
Switching from chart to chart to find and enter a trade in order to take revenge after a losing one is a sign that you should stop trading and take a break otherwise the trade which you are going to enter most likely will be a losing one again. It is common situation for lot of new traders to get discouraged after losing couple trades by row which is producing lot of stress, fear and discouragement.
Whether you are highly experienced and a professional forex trader or simply a beginner you should remember always to take some time off so you can stay energized and focused on forex trading in the long run, especially when you face some big loses and feel like you don’t want to trade ever again. Trading with a fresh mind, relaxed and well rested is going to make your decisions more rational and more profitable.
