The need for control is the most important psychological aspect of profitable trading. Traders try to control the market, but, eventually, pony mayut, that they must accept their fate and establish control not over the market, but over emotions. When your money is at stake, it's hard to stay calm, diet and complete control of yourself. Do you want to win, so you have a strong desire, so that the price goes according to your predictions, however, you can almost never be sure of the outcome of a deal. A person has a desire to completely control his own destiny., however this is not possible. Instead of this trader must come to terms with that, that the market will go there, where will he go, and try to control your impulses and emotions, instead of, to play impulsively against the market with feelings of anger and frustration.
Many of their traders have a strong desire for independence.. They accustomed, so that events develop like this, as they want. A strong sense of independence allows them to engage in such an unconventional business., how to work in the foreign exchange market, however, it often prevents them from maintaining discipline. They want to control events., and not be in control. They may become frustrated., if the situation develops against them, e.g. changes in discount rates, so on economic news and so on. There are many factors, which traders cannot control. You can't just dominate the markets and force the market to go the wrong way., which one you want. Instead of this, you will have to find out, where is the market going to go, do not give in to frustration and act in a disciplined manner.
How to Maintain Discipline and Self-Control? Firstly, you have to take the mother of things like this, what they are. Markets are chaotic and unpredictable, so think, that you can control them, just pointless. If you're trying to control events, you may succumb to anger and frustration. When you get angry, you act on impulses and make decisions, which you may regret in the future. Secondly, develop detailed trading plans, easy to follow. If you are trading with a detailed trading plan, you impose structure on unstructured reality, This structure will give you a sense of control. You can reduce uncertainty, and feel in control of events, if you have clearly defined the profit target, input level and output level. The more you structure reality, the stronger this feeling will be. You will know, what to do in this or that case, and you have a sense of control, which you aspire to.
Understandably, that the person wants to gain control over the situation, when his money is at stake. However, there is only one way to do this.. A successful trader tries to gain as much control over the situation as possible, managing risk and having a detailed trading plan in place. But at the same time, he is aware of the fact, that there is no 100% certainty in the markets, and that's all, what he can do, change it, then, what can he change and accept, what cannot be changed.
