My Mental Management Techniques [Nobushi]
To continuously win in FX, mental control is indispensable, and it is not an exaggeration to say that the strength of your mindset ultimately determines the success or failure of your trades. Let’s learn mental management methods from Nobushi, a trader and dentist.
*This article is a reproduction and editing of an article from FX攻略.com October 2019 issue. Please note that the market information written in the main text may differ from the current market.
Nobushi Profile
A dentist and trader with 10 years of trading experience. He has been involved in trading since high school. His main methods are trend-following day trading and swing trading. In 2018, he also developed his own indicator. Travel x investment is the theme of his life, and he is currently looking for trading partners.
Twitter：https://twitter.com/nobushi_fx/media
Knowing your opponent is important
This time’s discussion is about “mental management techniques,” which are extremely important when facing the world of the foreign exchange market. Strictly speaking, mental management methods might change a lot depending on whether you are full-time or part-time, but this time I’d like to explain mental management techniques that apply to both.
First, it’s important to deepen your understanding of the foreign exchange market we face. The FX market is a world where enormous sums of money move in an instant, but the key point is that in this world, professionals and amateurs alike are all competing for money with no handicaps. How can you survive in such a world…?
Trading at your computer alone can lead you to miss the essence of the market. In other words, when you trade by yourself, you might think you are trading alone. As mentioned above, countless people are vying for money in this world, so no matter how good your trades are, you will lose at times. It’s the same as any sport with competitors.
If you constantly tally up profits and losses after each trade, or shout about “how much I made” or “how much I lost,” or “I won” or “I lost,” you won’t be able to take the next action. Also, with a mental state that doubts the current method after a few losses, you will not see progress for a long time.
