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Terry Leslie's Articles in Currency Trading

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Coping with Emotional Surprises When Investing and Trading Emotional reactions can feel very complex and lead one to believe that we are not truly in control of our emotional responses. While it seems as though emotional responses just "sneak up on us" and surprise us, that isn't exactly the case. Can Trading Profit and Trading Fear go Hand in Hand? Fear can be a rather useful emotion, and in many cases fear prevents us from doing things that are otherwise unhealthy for us in one way or another. Fear can also be a great inhibitor. While fear is a naturally occurring emotion in nearly every creature imaginable, fear doesn't often have much place in the market. Building a Living from Small Trades In so many cases, there really are no small trades. While it happens from time to time, the story of grabbing up a little stock only to have a sudden and tremendous shift in the market skyrocket the stock in less than a few short weeks, and suddenly you find yourself in profit up to your ears. Boredom Traps When Investing and Trading Solid trading is not always as exciting as we'd like it to be. Once you get over a few basic humps, trading can go from heart stopping excitement for one minute to mind boggling boredom for the rest of the day. A Commitment to Online Trading Success Often Means a Commitment to Changing Change is not an easy factor of life no matter how we apply it. When we are forced to change, or opt to change, we often end up feeling as though we were not successful due to some personal flaw or a personality quirk. Withstanding and Overcoming Loss and Setbacks With Your Trading When you first start out in the business of trading, there are bound to be setbacks, losses, and downright failures as you get a handle on how things play out in the real arena that is the market. For every loss there are two consequences. One is financial. The other is emotional. Trading Windfalls, Confidence, and Inevitable Losses When we first begin day trading online, we start with a basic goal and a little understanding, some education, and a small account so that we are limiting our losses. This is smart and generally the way everyone starts out. Using Self Control as a Renewable Resource When Trading If you take the time and energy to map out a trading plan and then find that you are having great difficulty sticking to the plan when it comes time to execute it, you are probably having issues with self control. Everyone experiences some level of difficulty developing their self control. Trade for Money or for Love Day trading is not an easy business. If you are going to invest of your time and money, and really invest of yourself, then you need to know why you are doing it. When you close the door on a bad day, you need to understand what it is that will bring you back the following morning. Successful Traders are Committed Traders Success and commitment go hand in hand. Day trading is not a quick fix to a financial problem, a short cut to income, or a profitable hobby. It is a job and like almost every job out there, you will need to commit to learning how to do your job well, commit your time, and follow through on your commitments. Striking Out Alone With Your Trading Career If you are going to survive in day trading, you need be one tough individual. You need to be self reliant and maintain enough promise to your own welfare to know the ins and outs of how to be individualistic enough to succeed. Setting Trading Goals, Laying out Plans, and Achieving The essential key to being a successful trader is learning how to set goals, work with plans, and then of course, achieving your goals. Achieving your goals feels incredible and it gives you an emotional boost and the confidence to set new goals, lay out new plans, and to reach higher successfully. Trading Setback or Trade Blessing? Whenever we experience a loss we call that a setback. We like to avoid the word failure because it really isn't accurate. Being in the game already means that you haven't failed. But setbacks are losses that impact us either emotionally or financially. So where do you go from there? Resilience Equals Profits in Trading The most successful traders take setbacks with the same attitude as their winning trades. It is all the natural outcome of the situation. Each trade is an individual decision and each trade has the potential to either produce or fail. Reach High For The Sky With Your Feet On The Ground When Investing and Trading For the most part, the trading industry attracts a certain personality to its door. Without ever meeting you I would know that you are driven, you have big goals and big dreams, and you are in more than one aspect a perfectionist. Picking up, Moving Forward, and Recovering from Bad Moments in Trading Bad moments in trading are inevitable. Whether you got blindsided by some bad news or you just lost when you were rather confident you were going to win or you just feel generally unsettled because you have too much weighing on you, there are bound to be a great many bad moments. Media Influence on the Behavior of Investors and Traders The media has always had the power to influence behaviors, whether you are talking about investors, ethnic persecution, or potential catastrophic events, the media releases information and the public reacts. Making Sense of the Media and the Market While Trading The media's take on the market and current financial climates and trends can be highly sensationalized. There are plenty of news stations out there that fall a bit short on the unbiased reporting agenda. In fact, almost all the news stations end up inflicting their opinions or the opinions of the reporter onto the country. Lost Money from Trading or Good Self Investment? You can't enter the world of day trading on a few well rubbed nickels. Jumping in and developing good trading skills takes some time as well as some money. Most new traders do not find immediate success, even short lived success, until after they have spent the money and time learning the process and learning how to recover from the inevitable mistake. Lose Money, Not Objective Thought When Trading Lost money doesn't have to mean losing your ability to clearly think. However, it is a common by-product of losing money on a regular basis. Panic sets in, fear develops, and even a sense of shame takes hold of the situation. Trading Income for the Psyche After you've been trading for awhile, you might find that the initial magic that kept you going is starting to wear off. Many traders come out like gang busters for the first several months and then hit an energy slump within their first year. The way you determine that you're going to handle it will determine whether or not you happily last in the business of trading. Trading and the Illusion of Control of Total Control Risks are calculated. All risk is a process of calculation and decision. When you are dabbling in the market, hauling the market as your only source of income, or coming into your glory, all your risks are assessed and then you make the final leap when you determine the appropriateness of that assessment. Happy Traders are Balanced Traders Any overworked individual suffers over time. Their relationships decline, their friends forget to invite them along after being turned down repeatedly, and of course, their children realize that work is more important than them. Pretty sad when you put it all down on paper and look at it. Going All The Way - Day Trading as an Income and Lifestyle Source If day trading were as simple as chucking a couple thousand dollars into an account and starting your education the year before you could retire, every single person with access to $2,000 and a library would be day trading. It isn't a simple method of getting rich quick. It is either a hobby or a career, but you have to choose which one it is for you. Goals Plus Motivation Equals Trading Success The link between our reality today and our goals for tomorrow is motivation. Motivating ourselves to do what needs to be done and to stick to a realistic timeframe for completion of these goals is the main ingredient in a successful venture. Evaluating Your Trading Performance And Progress The most obvious sign of performance and progress is a healthy account balance, provided that you are not drawing excessive funds from your bank account to keep your trading balance in check. Emotional Highs and Lows and Clear, Calm Trading Strategies We are all human and we all carry a wide range of emotions. From positive to negative, emotional aspects of our day are inevitably going to creep into our ability to make clear and calm rational trading decisions. Day Trading and the Mind What impact your mind frame has on your day trading activities will in part be determined by how emotionally tuned you are. In some cases, if you happen to blow with your emotions, your day will be heavily affected by other things in your life, frustration, or a few bad trades. Are Your Images Of Your Trading Day Motivating or Frustrating? The images of today's society are thrown at us to encourage us to want bigger and better, more, and faster. We are literally bombarded with high priced images and images that draw on our human desire to succeed in our lives. Status symbols are all over the place and often we know from the beginning which ones will excite us. Trading Life Is About Working Without Awards If you ask people why they go to work every day, most people will tell you that they need the money. So what happens when you find someone who goes to work and doesn't make any money? Do you feel that you could go to work without bringing home the proverbial bacon? Could you do it every day for a week? What about a month? A Brand New Day In Trading How can you tell the difference between the most successful traders and those who struggle to get by? It's their attitude and their willingness to accept losses. As one of the most challenging businesses, trading requires a healthy balance between confidence and risk-taking. Setbacks and losses will occur, but to be a flourishing trader you won't let these stumbling blocks bring you down.