Mental management in FX and tips for reinforcement [Shuto Furudou]

No matter how excellent a technical method is, its performance varies dramatically depending on the trader's mindset. So, how can we maintain a mindset suitable for trading? We’ll learn the mental management method from Shutaro Fudou, a part-time trader.

Table of Contents

1. Mentality in Sports
2. What is FX Mentality?
3. Concrete Approaches to the Market

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※This article is a re-edited version of an article from FX Strategy.com, September 2016. Please note that the market information written in the main text may differ from the current market.

Profile of Shutaro Fudo (Fudou Shuutarou)

Forex instructor, writer. Releases seminar DVDs and interview CDs from a publisher. Gives lectures at financial exchanges, securities exchanges, FX brokers, investment trust companies, and also writes for magazines and serves as a school instructor for FX and stocks.

Official site:Shutarou Fudo's “Behind the News Coverage”
twitter:https://twitter.com/syutaro_fudo

In FX, not only technical methods but also mindset is important. We will teach you how to strengthen the mentality to win in the market.

1. Mentality in Sports

Mentality is highly valued in sports, right? Before thinking about FX mentality, let’s look at sports first.

Climbing starts with light hiking and gradually challenges higher, steeper mountains. No one jumps straight into dangerous winter mountains. In this way, beginners in sports or martial arts progress together by aiming to improve one another.

Also, in sports, coaches and seniors explain the causes of defeats. If you lose, you learn the cause and improve, becoming stronger, so there is much to learn from lost matches.

In this way, through many defeats, you learn the reasons for losses and grow both mentally and physically. By accumulating many experiences, you can train your mindset without strain.