Monday, July 19, 2010

Psychological Battle In Forex!!

The frequency of repetitive fluctuation is so tempting and in fact it is the source of addiction to make you think making money in forex is easy and fast. It is so tempting that will create the desire to capture each and every single fluctuation in the lowest time frame such 5 minutes.

However the temptation is actually trap where you will lose the most money. Once you are engage into the fluctuation game, you will be in control of the big traders grip. They know exactly where you will lose your confident and close the position at least with some losses. So they will drag your position away with fake market movement that create losses. Once you have close it is time for them to reverse the course to the correct direction but you are already lose.

Tricks that big traders use to tempt traders into the trap:

1. Technical Indicators Direction
2. Fundamental Factors: Economic Data Release
3. The timing of economic data release

No matter what you do they always trick you day in day out. Beware of habits and take greater caution on fluctuation.

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