|
Forex: Why Psychiatrists Make Better Traders Than Expert Economists?
By: Alexander Brin
It should be noted that millionaire traders, Elder, Williams and some others are
in fact professional psychiatrists. And it is not accidental that not the
economists are the leaders and most successful traders, but professional
psychiatrists and psychotherapists. Think about it. You will become a successful
trader when you understand why it happens with Forex. You will understand what
your Forex mistakes are, and why you are making them. And when you correct these
mistakes you will become a trader who has no psychological barriers and
obstacles on his way to better earnings in the Forex market.
So, why do the psychiatrists make better traders than economists who, as one
would think, have the Forex market at their finger tips?
The economists are confused by:
- the fact that exchange rates are not always related directly to the economic
circumstances in the countries. Well, do you know any economist who would be
bidding for low fx rates when the economic situation is getting better and
better? Or the one who admits that technical analysis of currency pairs is more
important for Forex trading than the fundamental one? Any economist is confident
that this can never happen because he knows all the economic dogmas. But it
happens in the Forex. After all, how can a trader lose with the currencies
moving up and down by the economic rules? The currency will surely react to the
economic changes in the country, but who knows when and how? Here is a tip:
there is the Elliott fifth way to teach a lesson to the ones who believe that
fundamental knowledge is enough (before the trend turns, the currency spurts
absurdly by the old trend), to confuse and draw the newbies into the game, while
the experts wait for the trend to turn back.
- the lack of psychological knowledge that helps to understand the behavior of
the crowd. And that is self-evident.
Are there any methods to overcome this fear?
It seems that every Forex book, every article offers efficient solutions for
psychological difficulties experienced by the traders.
IN FACT NEITHER OF THESE BOOKS CONTAINS METHODS TO OVERCOME THE FEAR EXPERIENCED
BY A FOREX TRADER!
But what do these books offer instead?
Almost every book of this kind consists of two unequal parts:
- the bigger part of the book narrates about traders’ problem that interfere
with their Forex work and make it unsuccessful (nervousness, doubts, worries,
fear, sleep deprivation, etc.). As if the traders do not know their own
problems.
- the considerably lesser part contains conclusions and recommendations to the
traders who are to solve their problems and overcome their fears to become
successful.
The conclusions are disappointing:
Many psychiatrists realize that the new field opens before their eyes – now they
may treat traders whose number amounts to millions all over the world and is
growing with every day. And since most traders have a dream to become as
successful as George Soros and other famous traders, this new field promises to
be rather lucrative.
One thing is bad though: the overwhelming majority of these new-sprung trader
brain specialists do not even know what the Forex is all about.
About the Author:
For more information and articles, please, visit our site at Forex Trading Guide
and blog Forex Trading Blog
|
