Let me ask you a simple question and be truthful when you answer: are you a Forex trading addict?
You may be wondering what I’m talking about but this is an important question because it can influence your results and make you a totally different trader.
Basically, Forex trading can become as addictive as a drug. The excitement of the trade, the money exchanging hands, the rush you get when you win, the urge to make more and more money.
These feelings are part of what got you into Forex trading in the first place. However, if you don’t watch out, you can easily become an over trader and begin making costly mistakes.
For some traders, Forex takes up a huge part of their life and they become addicted. Sure, I recommend investing a lot of your time into trading. It’s important to educate yourself and to train in trading. However, it is not recommended to make Forex the center of your life and to spend hours on it every day.
For one, Forex trading shouldn’t be like a job. It’s supposed to be a way to generate an extra income stream without spending a lot of time on it. Second, you do have a life other than Forex, don’t you? Don’t let trading disrupt your life and damage your relationship with your friends and family.
Third, overtrading leads to mistakes. You will get tired if you trade for hours on end and you make more mistakes when you’re tired. In addition, if you become addicted to trading, you begin placing trades even when you’re not supposed do and what’s the point in that?
You just need the rush that you get from trading that you don’t sit back and let the market come to you, you begin trying to force yourself on it, placing trades when you least need to.
This is wrong and it will cost you money.
If you feel that you spend too much time trading, now is the time to change your habits. You can make a great income by trading for 20–30 minutes each day. You don’t need more. Here is one system which teaches how.
Let Forex be part of your life but not whole of your life. You will be a better trader because of it.
