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Inspiration comes from within

Perhaps travel cannot prevent bigotry, but by demonstrating that all peoples cry, laugh, eat, worry, and die, it can introduce the idea that if we try and understand each other, we may even become friends.

Don't go around saying the world owes you a living. The world owes you nothing. It was here first. If you don't like something, change it. If you can't change it, change your attitude. Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.

It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change. All changes, even the most longed for, have their melancholy; for what we leave behind us is a part of ourselves; we must die to one life before we can enter another.

Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.

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Take up one idea. Make that one idea your life - think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body, be full of that idea, and just leave every other idea alone. This is the way to success.

Last modified on Tuesday, 29 April 2014 14:33
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    The foreign exchange market, or Forex, beckons aspiring traders
    with the promise of high returns and thrilling opportunities.

    However, the road to success in this dynamic market is paved not only with technical analysis and market knowledge,
    but also with emotional control. The human mind is wired for survival,
    not for navigating the often-unpredictable world of Forex.
    Fear, greed, excitement, and overconfidence
    can easily cloud judgment and lead to impulsive decisions that erode your capital.


    This guide equips you with the knowledge to overcome common trading psychology pitfalls and
    develop strategies for emotional control. By mastering your emotions, you
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    Understanding Common Emotional Traps:

    Fear: Concern with losing can result in exiting winning positions prematurely or avoiding potentially profitable
    trades altogether. This fear may also cause paralysis, preventing you from taking
    necessary actions.
    Greed: The desire for excessive profits can cloud
    your judgment. You might hold onto losing positions for too long,
    longing for a miraculous turnaround, or overextend your
    capital by taking on excessive risk.
    Excitement: The thrill of a winning trade can trigger overconfidence,
    leading to reckless trading decisions like ignoring risk
    management principles or chasing unrealistic profits.

    This excitement can quickly develop into disappointment and significant losses.

    Revenge Trading: The urge to recoup losses after a setback
    can lead to emotionally charged trades devoid of sound strategy.
    This often results in further losses, amplifying the first pain.
    Strategies for Emotional Control:

    Create a Trading Plan and Adhere to It: Produce a well-defined trading plan that outlines your entry and exit points, risk management strategies,
    and position sizing. Sticking with your plan, no matter emotional fluctuations, helps maintain discipline and avoids
    impulsive decisions.
    Practice Risk Management: Implement robust risk management practices.
    Including using stop-loss orders to limit potential losses,
    maintaining a proper position size based on your risk tolerance, and avoiding overleveraging your
    capital. Risk management safeguards your capital and prevents emotional decisions driven by fear of losing everything.


    Maintain a Trading Journal: Track your trades in a journal, recording details like entry and exit points,
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    Analyze your entries regularly to spot recurring emotional patterns.

    Did fear cause one to exit a winning trade too soon? Did greed lead you to hold onto a
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    Manage Your Expectations: Recognize that Forex trading
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    Practice Emotional Awareness: Recognize how your emotions affect your trading decisions.
    Take breaks when feeling overwhelmed by emotions such as fear, excitement, or frustration.
    Avoid trading underneath the influence of strong emotions, as they can cloud your judgment.
    Techniques like meditation or deep breathing can allow you to center yourself before entering a trade.

    Creating a Growth Mindset:

    A successful Forex trader embraces a growth mindset.
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    Don't let emotions like disappointment or frustration paralyze you after a loss.
    Instead, utilize it as to be able to improve your skills and turn into a better trader.


    The Benefits of Emotional Control:

    By mastering your emotions, you gain control over your trading decisions
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    Reduced Stress and Improved Trading Experience: Managing
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    Improved Risk Management: Emotional control empowers you to
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    Enhanced Discipline and Consistency: A disciplined approach enables you
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    You can avoid emotional biases and make rational decisions
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    Conclusion

    Trading psychology is a vital part of Forex trading success.
    By understanding the impact of emotions, developing
    strategies for emotional control, and cultivating a growth mindset, you can overcome common pitfalls and navigate the exciting world of Forex with greater
    confidence. Remember, consistent effort, continuous learning,
    and emotional mastery would be the keys to unlocking your full potential as a Forex trader.
    With emotional control at the forefront, you possibly can make
    informed decisions, implement your trading plan effectively,
    and achieve your long-term trading goals.

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About Us

Genie Computing Ltd was established in 2002 by two of the current Directors Ryan Francis & Daryl Hickman.

Its core business activities include desktop and notebook computer sales and repairs, business and public sector IT consultancy, and software engineering.

Opening Hours

Monday 9.30am - 5.00pm
Tuesday 9.30am - 5.00pm
Wednesday 9.30am - 5.00pm
Thursday 9.30am - 5.00pm
Friday 9.30am - 5.00pm
Saturday Closed
Sunday Closed

How To Find Us

 

Genie Computing Ltd

Unit 3A

Del Guerra Court

Tonyrefail

CF39 8ES