Self-confidence: It Is Difficult To Break Old Habits.
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Self-confidence – one of the most widespread psychological problems of traders. All people are inclined to self-confidence, but at some it can reflect deep psychological conflicts. Sometimes, however, self-confidence – simply question of difficulty of demolition of old habits. Happens, we execute trading strategy automatically even if rules are not quite correct. Sometimes it is necessary to learn other behavior or to retrain to trading.
It is important to perfect your skills of trading that you could make bargains freely and intuitively. Thinking restrictedly, and by means of practice it is possible to execute simultaneously set of problems and to expand thinking frameworks. The best example of automatic fulfillment of a task is a car driving. When you studied in the beginning in driving, it was very slow: you with concentration pressed on a brake when expected potential danger and concentrated attention to gas pedals when all went well. In process of experience accumulation, however, much in your driving became “automatic” and you did not need to pay attention to routine any more. Now, as the skilled driver, you can easily consult with set of problems on the move: radio adjustment, a sight in mirrors, tracing of speed.
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Similar psychological process occurs and at accumulation of experience in trading: you do not need to evaluate carefully any possibilities any more. You can act intuitively and appear right more often. Such form of automatic work allows you to trade effectively. You can make more with smaller psychological energy.
But what happens, when trade on “autopilot” does not work any more. The market position continuously varies also strategy, which worked last week, cannot work today. When it occurs, you should learn to use new strategy. However, it can be more difficult, than it seems.
Have you ever tried to change the approach after have developed skill? Have you tried to improve scope of a stick for golf or to apply a new method to use a thing after many years of practice? It is sometimes heavier, than to make a fresh start. You should learn a competing method and to try to terminate to use the old. For example, look the driver, who learns to drive the car with a manual transmission after several years of driving the automatic. In many respects it is similar to repeated training to driving. It is necessary to press a coupling pedal, without removing a foot from a brake pedal, to switch on the first gear and cautiously to wring out coupling in process of movement. But there is also a big difference with when you learnt to drive right at the beginning: Have passed years, and there is a strong aspiration to forget about concentration on new skill and to do it in an old fashion. That is, you can forget to squeeze out coupling when brake, or will switch gears without coupling. It is the self-confidence form. Everybody forgets that they do not know how to drive with a manual transmission and come back to “an old” automatic method. The same can occur, when you try to study the new approach to trading; you can trade “automatically” if you forget about care. At studying of new skill it is necessary to be concentrated and slow. Pay attention and be focused on each action, until you do not replace an old method with new one. Remember, old habits are difficult for breaking but if to concentrate and practice, you can replace the old approach with new one.
Before you decide to make a forex investment or start forex trading yourself, better find a nice forex book and read more about foreign currency trading market – this will save you from lots of troubles and traps.
Self-confidence: It Is Difficult To Break Old Habits.
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