When fear contaminates your trading mind, you need to understand that until you learn the art of managing fear, you will not improve in Forex trading. Now the question is how to deal with it. In this article, I will try to present how to conspire over the different states of mind eroding a trader’s financial dreams. If you accept the assumption that your performance is partially dependent on your emotions, then you must need to know the art of having control over them.
Finance Trading Using Crypto platform:
The Crypto platform is based on blockchain technology, which helps you trade securely and transparently. Cryptocurrencies are considered digital asset that is traded on crypto exchanges. You can easily invest in cryptocurrencies by using online platforms and buying them from local traders or dealers. You can also sell your cryptocurrencies anytime you want to by selling them at the price that you want.
The crypto market has changed the way of financial trading because they have made it very easy for anyone to trade any currency without facing any hassle or problems related to banking issues and regulations. The crypto market has made it possible for anyone to be part of this world that was impossible before with an individual, centralized bank account and all its regulations, charges, restrictions etc.
The most common currencies that are traded on these exchanges are bitcoin, ethereum, and many more. You can trade any of these currencies by using cryptocurrency exchange platforms. The most common exchanges that are used by a lot of people are Binance and Bitcoin Prime.
The best part of having a cryptocurrency is that you can trade it anonymously without being tracked or traced, and there is no need to have your name or identity associated with it. You can only be known to the person buying or selling your currency at that particular time. So, you need not fear if someone else would find out about your identity through the transaction history of trading activities on the crypto exchanges because it will not happen in reality.
Let me ask you a question, when do you fear? I think you feel it when you experience any threat in front of you, and at the end, you find yourself in an uncomfortable zone. Everything is downhill after a trader is possessed by fear. But once you develop the required skills, you may get through all the problems faced while trading with emotions.
Learning to take a breath in such a way that can manage your emotional state, known as emotional state management, is the first fundamental skill needed to have the mastery of controlling emotions. It’s all about your state of mind that can observe the situation and convert the trader’s breathing style into fear-based breathing to learn the episodes of the rigors of trading.
Speed brakes to listen to your thoughts!
Just calming your mind is not the complete solution to handling emotions. Make a clear distinction between “you” and the observer of “your thoughts”. This is the situation that can be managed by “mindfulness”. Give a break or slow down your thoughts and let your mind listen to them.
Here from the internal dialogue, I meant to avoid the negative statements that you hear from your mind like, “I’m going to lose this time”, “I can’t win “or “I’m not smart enough to learn the tactics of Forex online trading”. Trust me, these sentences would not imply over you unless you do not permit them to do so. So think positive and be optimistic. Once you develop this approach, no internal dialogue can dominate you. This simple idiom would work for sure, anytime anywhere…. Everywhere!
To get peak performance of the mind, learn discipline, impartiality, patience, passion, compassion, and a positive attitude towards psychological changes. Once you develop such potential within yourself, you would be known to be a smart and awesome forex trader!
