Trade Forex

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Ten Tips for Stay Stress-free Forex Trading

1. Keep calm. It’s vital that you don’t trade a position size that causes you to be uncomfortable or anxious. Stay within your comfort zone.

2. Maintain perspective. You need to remember when forex trading, that one losing trade doesn’t equal failure. If you’re risking 1% of your trading capital every forex trade, then that losing trade is just one trade out of the next 100.

3. Stay comfortable. As a forex trader, chances are you spend quite a lot of time in front of the computer, so comfort is important. Maintaining correct posture and ergonomics as well as eating and drinking properly are all crucial to your success and health.

4. Visualise your system. Forex success is determined by your discipline and ability to focus on your trading system. If you visualise trading your system successfully, success will come.

5. Take it easy. It’s important to slow down and take only your best trade setups. Most of your trading stress comes from trying to make things happen when the odds are stacked significantly against you.

6. Be thankful. Appreciating family, friends, interest and hobbies outside of trading will help keep your trading in perspective.

7. Practice mindfulness. You need to pay attention to your emotions and mental processes. Notice how they rise and fall, and instead of being held hostage to your internal narrative, take a step back and look at it from a distance. This helps to keep composed and calm.

8. Don’t be stubborn. Maintain focus on your strengths and continue to more of that each day. Try not to spend time on the things that cause you financial loss or mental and emotional stress.

9. Control your emotions. This means that as a forex trader, you should stop making your trading decisions based on fear or greed. Instead, try to focus strictly on you trading plan and only act on the facts that are presented, rather than post-rationalising a position or retrofitting it into your strategy. You should know almost immediately if a setup is valid according to your rules.

10. Just move on. Don’t dwell on a bad trade. Instead, be ready and willing to exit and cut your losses when the forex market proves you wrong. Move on to the next trade, knowing that each new trade is a new beginning.

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