Trading and Psychology
Trading is a mental game, and the person you must defeat is not the market but yourself. Our trading judgments are influenced by psychological patterns that have developed over years or decades and can obstruct long-term profitability. The study of the mind, behavior, and behavior patterns is known as psychology. It is what drives us to act in specific ways and how we get over challenges that prevent us from moving forward.
When forex beginners first begin, they tend to concentrate on the charts. Charts, after all, are where the “action” occurs, with double bottoms, reversals, breakouts, and trends indicating significant gains.
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