Trading Forex with emotions and feelings is fun. Taking positions by instinct brings excitement to trading Forex especially when a trader wins.
Trading by the rules is boring. That’s because a trader knows in advance what and when and how to conduct trading by following the instructions – a trading plan.
There is always were and will be a temptation to go around the original rules.
There is somehow always appear to be a good reason “just this time to make an exception”… Don’t do that. Be firm.
Many Forex traders come back to their charts every day to analyse the market and possibly find a setup to trade. However, not many of those traders realize that analyzing the market does not necessarily leads to trading the following day.
A trader should never take a trade just for the sake of being in the trade and/or just because he has spent time analyzing the market today… By conducting market analysis you only keep track of the situation on the market, nothing more that that.
Good trader is a bored trader. He will repeat his routine day after day, following the plan and avoiding any temptations to break the rules.
Bad trader is a trader whose excitement about Forex trading causes his emotions to interfere with a trading plan.
