Friday, April 27, 2007

The Missing Element

When it is all said and done currency trading is all about the human element and all too often this is the missing element when it comes to Forex training. The human element consists of two components each trader must completely understand:

1. Others traders in the market

2. Themselves

Price bars and candlesticks are merely graphical representatives of supply and demand of the market. And what or rather who is the market? Other traders! Whether they sit in a skyscraper in New York, an brokerage office in London or like me, a home office in Phoenix, the market is nothing more than other traders.

Understanding who these traders are, how they react to events and their potential impact on the marketplace is crucial. This is why we caution our student around market opening times and the impacts of news events.

The other, and more overlooked factor in the human element is us. In my prior life as a consultant, my job was to go into a company and address specific challenges. The most difficult component of my position was to collaborate for change when the company would not. Fear of change is a power human element.

It is difficult for each of us traders to take a critical look at who we are, understand our strengths and admit to our weakness, so that we can set a course to success. Self-Mastery is necessary for all traders to make that critical leap in their personal learning curve.

Forex Journey integrates all the components of creating and maintaining a results-orientated trading system by teaching self-mastery skills side-by-side with Forex strategy and money management techniques.

As a Success Coach to Traders and Entreprenueurs and Certified Hypnotist, I deal with self-mastery skills on a daily basis and can ensure you mastering yourself will not only improve your trading, it will improve your life!

Happy Trading!!