Download as pdf or txt
Download as pdf or txt
You are on page 1of 8

Christmas Special: Save 40% O Nial Fuller's Professional Trading Course & Daily Trade Ideas Newsletter, Ends

December 31st - Click Here

(http://www.learntotradethemarket.com/forex-trading-course)

Forex Trading Success


Comes From Within
(http://www.learntotradethemarket.com/forex-
articles/forex-trading- (http://www.learntotrad

success-comes-from- trading-course)
Nial Fuller’s Price Action

within) Forex Trading Course.


Learn Advanced Price
By Nial Fuller () in Forex Trading Articles by Nial Fuller Action Strategies & High

(http://www.learntotradethemarket.com/forex-articles) Last updated on October 4th,


Probability Trade Entry
Signals That Work
2017 | 28 Comments (http://www.learntotradethemarket.com/forex-articles/forex-

trading-success-comes-from-within#comments)

LEARN MORE (HTT


Mastering one’s emotions is the single most essential
factor in determining whether or not you become a
consistently successful Forex trader. This article will
provide you with some useful insight into how you can
start mastering your emotions and get on the track to
successful Forex trading… Get Nial
Fuller's
Successful forex trading Weekly
Trading
Videos &
Articles
Delivered To
Your
Inbox 100%
Free

Subscribe to the
most popular
Forex Trading
blog online, with
over 250,000
(http://www.learntotradethemarket.com/forex- readers.
articles/successful-price-action-forex-trader-habits/)
depends upon a trader’s ability to consistently make Enter your name
decisions that are completely unin uenced by emotion.
When interacting with the market most traders become Enter your email
in uenced by how they are feeling, it is overcoming this
I AGREE TO
mistake of letting our feelings about the market in uence PRIVACY POLICY
(http://www.learntotradeth
our trading that fosters a successful trading mindset. (Check Box)

Sign Up
This article is going to give you an awareness of the
biological similarities that we humans share which allow
us to both commit emotional trading mistakes as well as
overcome them with the proper training and information.
Without down-playing the signi cance of the psychological
di culties that are an inherent aspect of forex trading, we
are going to provide you with some concrete insight into
why all of us have the potential to become successful
forex traders
(http://www.learntotradethemarket.com/forex- Find Us on
articles/what-are-your-chances-of-success-as-a-forex- Facebook
trader) by explaining the commonality of our brain
functioning, as well as some tips on how you can attain Nial Fuller - L
this seemingly elusive trading success. Liked 235K li

Battle of the Brains You and 3 other friends like th

In the world of evolutionary biological psychology, it is a


well known fact that the frontal lobe of our brain is the
newest area of the brain and also the part that is
responsible for giving us the ability of complex reason and
planning. Our older brain structures that evolved to serve Recent Popular Comm

us well in the era of early human existence are essentially


Make Your
designed for ght or ight functions, which served us very
2019 Forex
well for thousands of years, and still do for some aspects Trading
(http://www.learntotradeth
Resolution &
of modern day life. However, it is also these same ght or
your- Stick To It
ight brain structures that give us problems while trading 2019-
forex-
the markets. trading-
resolution-
stick-to-
The reason our ght or ight brain structures cause us it)
problems while trading is because they induce emotion- (http://www.learntotradeth
your-2019-forex-trading-
based, or feeling-based trading. The issue here is that it is resolution-stick-to-it)
nearly impossible to think objectively and logically when
your body is primed for action, your adrenaline is pumping Here’s What
and you are in ght or ight mode. When we have money Will Happen If
You Practice
on the line in a trade, it is a very delicate situation that can (http://www.learntotradeth
One Trading
easily lead our ght or ight brain to are up, and articles/what-
Strategy
will-
essentially over-ride our frontal lobe intellect and 10,000 Times
happen-
practice-
reasoning. Our older brain structures and nervous system one-
are wired to work in such a way that they can override the trading-
strategy-
objective and deeper thinking parts of our brain in case we 10000-
times)
get into danger and literally don’t have time to “think”. For
(http://www.learntotradeth
example, if you accidentally put your hand on a stove articles/what-will-happen-
burner that you mistakenly thought was turned o , you practice-one-trading-
strategy-10000-times)
aren’t going to stop and think about what you are doing,
you are instantly going to pull your hand away and
probably scream without even thinking about it. Pick The
‘Perfect’ Trade
As Forex traders, we need to be aware of these basic Entry Point For
(http://www.learntotradeth
Lower Risk &
concepts of how our brains work because once we get into trading- Higher Reward
strategies/pick-
the cycle of emotional or “ ght or ight” trading, there is perfect-
really no escape until you lose all or most of your money trade-
entry-
and “snap” out of the emotional trading cycle. point-
lower-
risk-
Trading success is about mind and higher-
reward)
emotional control (http://www.learntotradeth
trading-strategies/pick-
perfect-trade-entry-point-
Traders are often told they need to control their emotions
lower-risk-higher-reward)
to achieve success. While this is well and ne, most people
that preach this gospel never really tell traders HOW to do
Why You Exit
Trades Too
Early & How To
(http://www.learntotradeth
Stop Doing It
articles/why-
you-exit-
trades-
too-
early-
how-to-
stop-
doing-it)
(http://www.learntotradeth
articles/why-you-exit-
trades-too-early-how-to-
stop-doing-it)
this. Di erent situations require di erent techniques for
controlling one’s emotions. Since trading involves having
your money on the line and it possibly going up and down, 13 Quotes
That Will
for and against you, before the trade ultimately plays out, Transform
it is critical that you not allow yourself to be in uenced by (http://www.learntotradeth
Your Trading
quotes-
this natural ebb and ow of market movement once you transform-
trading)
enter you trade. Even IF you manage your risk extremely
(http://www.learntotradeth
consistently and only risk a tiny portion of your account on quotes-transform-trading)
each trade, if you sit there and watch your trade play out
after you have executed it, you are probably going to
Why You Need
induce your “old” brain and begin to feel emotion.
To Protect
Your Trading
This is why you need to plan your trades thoroughly (http://www.learntotradeth
Account
articles/why-
Balance & How
before entering them, leave no stone unturned, cover all protect-
To Do It
your bases prior to putting your money on the line, and trading-
account-
then let the trade play out with minimal involvement. The balance)
(http://www.learntotradeth
primary way to avoid trading with the “old” more primitive articles/why-protect-
trading-account-balance)
ght or ight brain structures, and make sure that you
trade with the “new” objective thinking frontal lobe part of
the brain, is to make 100% certain you plan out your trade What I Wish I
before you enter it. Knew About
Trading 18
(http://www.learntotradeth
Years Ago
You essentially have to “outsmart” your own brain by articles/what-
i-wish-i-
realizing and accepting the fact that you will never be
knew-
MORE objective and logical than when you are NOT in a about-
trading-
trade, therefore this is the BEST time to plan your trade 18-
years-
out. Staying in this objective mindset as much and as long ago)
as possible is what makes a trader consistently pro table. (http://www.learntotradeth
articles/what-i-wish-i-
Since your trading accuracy directly depends on your
knew-about-trading-18-
ability to remain objective when making forex trading years-ago)
decisions (http://www.learntotradethemarket.com/forex-
articles/making-forex-trading-decisions/), and objectivity is
How To
a function of planning your trades before entering them
Develop A
and NOT looking at them for hours on end as they unfold, Winning
it goes to reason that there is an inverse correlation (http://www.learntotradeth
Trader’s
articles/how-
Mindset
between time spent looking at the markets and trading to-
develop-
success. Meaning, assuming a certain basic level of Forex a-
trading knowledge, spending increasing amounts of time winning-
traders-
beyond this level, either analyzing market variables or mindset)
(http://www.learntotradeth
watching your trades play out, will cause you to lose
articles/how-to-develop-a-
money over time. winning-traders-mindset)

Simple vs. Complex Trading


Above and beyond planning your trades before you enter Why You
Should Use
them and not meddling with them after wards, the next
Wide Stop
biggest contribution to remaining objective and thinking (http://www.learntotradeth
Losses
trading-
with your more advanced frontal lobe while trading is to strategies/why-
should-
use a simple trading method use-
(http://www.learntotradethemarket.com/forex- wide-
stop-
articles/kiss-keep-it-simple-stupid-forex-trading-method). losses)
(http://www.learntotradeth
Many Forex traders do themselves a huge disservice by
trading-strategies/why-
trying to use overly complicated trading systems that should-use-wide-stop-
cloud up their charts with lagging indicators or trading losses)

software programs. Once you start to become confused or


frustrated with your trading method you greatly increase
The Most
the probability of trading emotionally and becoming less Pro table
objective, and thus losing money. It is critical that as Forex Markets I
(http://www.learntotradeth
Trade & Why
traders we do everything within our power to think clearly trading-
while making trading decisions and not elicit our ght or strategies/most-
pro table-
ight brain structures. markets-
i-trade-
why)
The best method to maintain such simplicity and clarity (http://www.learntotradeth
while trading is price action trading-strategies/most-
pro table-markets-i-
(http://www.learntotradethemarket.com/price-action-
trade-why)
trading-forex). When we use simple price action setups
(http://www.learntotradethemarket.com/forex-trading-
strategies/price-action-setups-pin-bars-fakeys-inside-bars) Why I’m Not A
Day Trader
to trade the market we are giving ourselves a much
greater chance at remaining objective and calm and thus, (http://www.learntotradeth
articles/why-
pro table. Choosing to learn how to use price action im-not-
setups on a simple plain vanilla price chart is a decision a-day-
trader)
that you can make which will greatly increase the (http://www.learntotradeth
likelihood of you not falling into the trap of emotional articles/why-im-not-a-day-
trader)
trading mistakes. The other aspect is that you learn to “set
and forget”
(http://www.learntotradethemarket.com/forex-trading- The Di erence
strategies/set-and-forget-forex-trading-keep-your-day- Between Price
Action Event
job/) your trades, which means you plan them out before (http://www.learntotradeth
Zones and
entering them and do not attempt to unnecessarily trading- Support &
strategies/di erence-
Resistance
meddle with them afterwards. We all have the ability to price-
action- Levels
make these decisions, this is the good part, it is up to you event-
whether or not you choose to make them, and apparently zones-
and-
most traders don’t. So the rst thing you can do to set support-
resistance-
yourself apart from the crowd of losing traders is to secure levels)
an education in a simple yet e ective trading method like (http://www.learntotradeth
trading-
price action, to learn more, checkout my price action strategies/di erence-
trading course price-action-event-zones-
and-support-resistance-
(http://www.learntotradethemarket.com/forex-trading-
levels)
course).

The Top 10
About Nial Fuller Lessons I’ve
Nial Fuller Learned in 18
(http://www.learntotradeth
Years of
(http://www.learntotradethemarket.com/nial-
articles/top-Trading
fuller-forex-bio) is a Professional Trader & 10-
Author who is considered ‘The Authority’ on lessons-
ive-
Price Action Trading. learned-
(http://www.learntotradethemarket.com/price- in-18-

You might also like