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Four: Think Of Trading As Points And Percentages

Written by forex | Leave a Comment
Topics: Emotions, Inside The Trader's Mind, Money Management, Planning A Trading Career, Trading Strategies, Trading Tips


We talked about the amount of risk a trader has in the market now it is time to talk about how you feel about money. If you have a big attachment to money then it will cause a big emotional strain when you lose some of the money.

One of the hardest things a new trader has to learn is how to loose. Losing is part of trading. Losses need to be looked at as expenses, or cost of doing business. There is no Holy Grail or magic trading system that just has to be turned on and the money will roll in.

If you can’t change your relationship with money, then just don’t think about it. Focus instead on numbers. Think of a % of your account, risk-to-reward ratio, and points to be made as profit not as points to be lost.

Once you learn how to make points then the money will come. You can accelerate the amount of money you make with good money management once you know how to make the pips.

July 23rd, 2008
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