A significant number of people not engaged in Forex international currency market believe currency speculations to be an easy occupation. While for a successful work at trading platforms a strong will, self-restrain and responsibility are required. You should always follow the market behaviour, be extremely attentive and concentrated.

Everyone who has shifted from a demo-account where he was managing virtual millions and became confident of his skills, to a real account working with own money, is sooner or later overwhelmed by fears of making a mistake and plunging his capital.

The condition of being in panic is typical of not only beginning traders, experienced traders are as much exposed to attacks of cowardice inculcated by the inner voice. Here, a question arises: how are the deals conducted if traders are afraid? They say: what the eyes fear, the hands do. But you should not take this proverb as an instruction. Instead of neglecting the existing problem it is better to examine it and to solve it. Here are a few recommendations of overcoming your fears of trading at Forex.

First of all, learn to control your emotions: they should not stand in your way to take reasonable decisions. Working at Forex involves a strong psychological pressure on a trader, that is exactly why not everybody is able to remain on Forex and trade successfully. Emotions influence absolutely on each participant of currency trading to such great extent, that if one does not learn to control himself, it will inevitably lead to significant losses, financial as well as moral.

Make an effort to trade estranged and maximally unemotional. Plenty of novices and losing traders consider that the already tested trading strategy is sure to bring profit at market. Though, this is a total misbelief. The most difficult work which is a recipe for success at market includes developing one’s own trading system, fitting all needs and principles of every trader’s work.

The trader’s liveliest fear is the fear to lose all money. To get rid of this phobia you should try to change attitude to this fear. Make yourself think about positive result by autosuggestion, persuasion, meditation – just as you like! Executing an operation it is necessary to learn acting under the influence of the positive psychological mood and not to allow the fear to doom you to failure.

Be maximally sequential, otherwise you are likely to lose. Do not undertake hasty and unreasonable actions. The deal must be scrupulously planned and the result must be foreseen with a probability of 99%. And, it must be your own viewpoint, but not blind faith to “forecast” of a dilettante from Forex forum or analytical article even written by the most professional expert (he/she is a human being and has unlucky days, and can makes mistakes).

And the last thing: daily improve yourself and bring the skills to perfection. The confidence will come with an experience and a skilled hand. The confident person has nothing to worry about, as the luck is always in his/her pocket.

A trader should believe in that he/she will make profit as a result of the trading. Absolutely every speculator can become a successful trader. If you are in positive mood, have a passion for trading and you will completely realize the responsibility for taken operations during the trading, no doubts it will make you more than a successful trader on Forex international currency market, ready to any obstacles on your bumpy road to a Million!

Added by Tatyana Makhina,
InstaForex Clients’ relationship manager