The forex markets don't have emotions, but they are influenced by the emotions of millions of traders around the world. By staying calm and keeping your wits about you, you can take profits when possible and get out of bad positions before they take down your entire account.
If you find yourself irritated, agitated, terrified: close your positions in the best way you can (or put in appropriate stops) and walk away. Get some air. Go for a run. Placing poorly planned orders in an attempt to regain lost funds will most likely backfire. If you're not calm, rational and patient, GET AWAY FROM YOUR COMPUTER.
Tuesday, May 12, 2009
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