Know your trading archetype

摘要

Forex trading is challenging to people throughout the world regardless of profession or education because it requires a combination of diverse skills that can't be attained elsewhere. A successful trader must apply strategy and tactics that weave together economic analysis, technical analysis, timing and money management. Success in forex trading is indifferent to your background. Carpenters, salesmen, doctors, plumbers, PhDs and high school dropouts compete equally in trading. Forex's appeal as an equal opportunity employer is one of its great virtues. However, there's one aspect with which the forex markets are not unbiased. This factor usually is the difference between success and failure. It's the ability to use and tame the emotions related to trading. Individuals new to forex trading can become masters in analyzing markets, but trading success isn't ensured until they confront and conquer the critical roles that emotions and psychology play. Although legitimate and widely accessible retail forex markets are relatively new, a great deal of insight comes from classic psychological concepts.