Tuesday 8 May 2007

Forex Trading learned me about my own weaknesses

One of the hardest things to experience is realizing that you are not always as good as you thought your were. Always thinking that I was extremely good at working under pressure, my experiences taught me precisely the opposite. When it comes to money I suck under pressure. I am not able to keep my cool when watching the forex market dance all over the place... going from loss to profit, back to loss, and back into profit in a matter of minutes. Holding on... seeing the trade moving into a profit... and then praying that it just keep going. Fearing a loss if you do not take the profit immediately... but also lusting after more profit. Wondering, what if it moves up just 50 more points?

How will you ever know when is the perfect time to close a position? I wish I knew, but at least I am not alone in this, as almost any forex trader will tell you. The struggle between hope and disappointment can be intense... but also part of the allure of trading in the forex market. It is a emotional ride that leaves you breathless... sometimes in elation of a trade going right... but mostly in a depressing state when a trade goes wrong.

And then to realize that you are not as good as you thought... not as cool as you hoped. But out of the ashes of despair a phoenix arise and you learn to live with your shortcomings... learn to turn your weakness into something manageable... and then you realize... the Forex Market helped me to grow...