Many traders in the forex market (and any speculative financial market, for that matter) often find themselves in the unenviable position of hoping, wishing (and sometimes praying) that a particular trade will go their way.
Trading Psychology 1
‘The first rule of investing is not to lose money. The second rule is not to forget the first rule’ – Warren Buffett.
The aim of investing is to make money and limit unnecessary losses as far as possible.
In his recent book, Outliers, Malcolm Gladwell describes the ‘10,000-Hour Rule,’ claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4-hours per day for 10 years.
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