Staying motivated during difficult trading environments is a huge stumbling block most new traders never overcome.
Because of the mindset they bring to trading, it is not uncommon to meet people who say things like: ‘Yeah, I tried trading Forex, but I lost money and quit.’
But professional traders have losing trades as well, don’t they? Professional baseball players strike out, pro golfers hit balls into the sand, and even top Formula 1 drivers crash. So measuring your trading potential by the fact that you’ve had some losses may not be the best way to think about your potential as a Forex trader.
Still, how can you change your mindset to think like a trader and not let bad trades and drawdowns end your Forex trading goals?
The following video by Edgewonk explains why process-oriented traders always outperform results-based traders. Check it out: