Today we had our weekly Forex review. It’s a time we do come together as Forex traders to analyze the past weeks as well as prospect for the new week. It is also a time we remind ourselves of basic principles of trading, money management and how to improve on our strategy. These remind me of a quote by Albert Einstein that says, “Once you stop learning you start dying”.
In our today’s review our boss made a very important point I really want to reiterate in this blog post which is LEARN TO TAKE A BREAK.
Taking a break is one thing Forex traders never do in the market. Obviously the market is open 24 hours a day 5 working days a week. However when you are just coming from a losing streak taking a break will be helpful to you.
Why is it necessary to take a break?
After a losing trade many traders are usually emotional and our next propensity is to fight back, recover, or hit back at the market, we become very emotional that we can lose our proper sense on judgment. Some double their lot sizes to cover-up for the loss. These are all emotional antic that blur our right sense of judgment.
Therefore Taking a break and relaxing with something else seems to be the right thing to do so keep you on the right frame of mind in your trading. So if you haven’t been taking a break consider that today and add that to your routine. TAKE A BREAK WHEN ITS NECESSARY , IT COULD MAKE A DIFFERENCE.
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