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There are lot of similarities between sports and Trading. In this article I am will talk about various sports persons, who are legend in their respective careers. A legend is not merely determined by ascent to the peak of their chosen trade but by their tenacity and enthusiasm of same level of superlative performance to stay at the peak despite various challengers over long term.
Sounds familiar to a trader, I bet it does. How many of us have many outbursts of best performances followed by major losing streaks. We all know if we can allow us to trade at our best let’s say 10 years and be consistent performers, we can be legendary traders. There is one aspect sports persons area of expertise is ‘Sports Psychology’. And I will try to analyze those aspects in this article.
So let’s began with the legends.
1. Michael Schumacher

The name needs no introduction, Michael Schumacher is one such extraordinary legend, who reigns in the privileged extremely competitive and alluring world of Formula One (F1) auto racing. He has broken the most world records for most wins and most championship points in F1. Schumacher holds the records for most world championship titles(7), The most Grand P…
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AnnaZhurina avatar

Good job!

hrustiashka avatar

Very good article

fx211pips avatar
fx211pips 20 July

well done, very interesting article

kettle avatar
kettle 20 July

very interesting article, thanks !!!

Mepcuk avatar
Mepcuk 17 Aug.


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Year 2017 is closing and I am in mood for some light-hearted banter yet to write meaningful article. So here I go talking about some behavioral economics and its implication on forex trader and his trading. Behavioral economics in essence is a method of analysis that applies psychological aspect of human behavior on economic decision-making.
Although the terms mentioned in this article have wide implications in different economic decision making process, I will keep the scope of these terms to forex trading and investing only.
  • Framing

Fig. 1
Framing refers to how a trader perceives a forex movement of a pair. It’s a glass half full or glass half empty kind of situation(same as above comic strip). In last 2 weeks gbp/nzd is correcting from 1.98 to 1.90 zone. So when price retrace to 1.93, a trader may think, wow the pair is at 3% discount and will try to buy only to find price go even lower. So it is important to see that pair is in strong corrective mode after more than 10% rise in last 2 months.
The key is to perceive the market correctly and never feel that “I am most intelligent”. Follow technical’s and wait for the pair to form a support/resistance in strong correction / r…
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Yuliya_N avatar
Yuliya_N 3 Jan.

Very nice article. Good job friend!

Annyrio avatar
Annyrio 3 Jan.

Very good!!!

hrustiashka avatar

Well written article!

Vlad73 avatar
Vlad73 8 Jan.

well done

Siarhei89 avatar
Siarhei89 14 Jan.

good article!!!

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The never ending fight The surviving on market demands knowledge, technique, good traits and avoiding the misfortune. Reaching a satisfying condition demands hard work. All of us need to work on our traits, our strategies needs changing from time to time, or if we developing another method that also needs developing. The destructive effect of greed, what comes from inside of us, media, other people create the need for paying attention to remain loyal to our method. 2 parts of the trading mechanism: First one is the method, the way how we trade, by rules, management, developing it, testing, looking around and so on. Second one is the education, what widen our mind, what controls the way we think, what keeps us developing. The innovation is a treasure, don't drop away such a value. These are the points in that, I am going to post two articles each month, one for trading methods, test and developing them, and a second one for subconscious education for developing. Surviving in the long run! Have you ever heard the phrase that there are as much different way of living as much living soul? Every person have an own personality. How are we linked to one other? By the market! All the pa…
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SpecialFX avatar

Another good article on trading safely and rationally :) I have a question though, what do you mean with news having more weight in weekly charts? Do you mean fundamentals in general or actually some piece of information that comes out in a given day? The reason I ask is because spikes caused by news have a much bigger effect on the market the shorter the time-frame is. I trade longer time-frames and news are irrelevant to me, because stop-losses are placed further away from the current price than in shorter time-frames. If you mean fundamentals then I fully agree.

Lincoln avatar
Lincoln 6 Dec.

Thanks for sharing. Well, yes the news have sharp effect on price action, and since we get the news late, it is better not to trade by them if our strategy doesn't demand them.
I meant fundasmentals, just the way I express myself is not too well yet.

Likerty avatar
Likerty 6 Dec.

I will add another rule that works in trading as well as in any other proffesional activities: ..In order to succeed one needs to konstatnly seek for a new knowledge, never stop the learning process

Lincoln avatar
Lincoln 6 Dec.

Hi! Thanks for reading! And for sharing!
You are absolutely right, I swear I believe that seeking as important as anything else, or even more important. I wrote this one too in order to emphasize its impact.
I wish you all the best!

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To be succesful is simple, follow the succesful. From what I have learnt Im sharing what are the qualities of a good trader.The first and the foremost, manage your risk.Employ only as much money that you can easily lose and still it would not have any impact on your sleep or lifestyle. In short employ only as much capital as you have largely excess.Know how much money have bet on each trade. If you are carrying overnight positions & week-end positions things might run against you largely and wont give you any space to breath.Distribute your capital in a number trades. Dont overblock capital in a single trade. Like dont employ 90% of your capital in a single trade even if you know its a sure shot winner.DisciplineThe importance of discipline is very less talked about.Be as disciplined and punctual as you are to your job. This is a business and one should respect this fact.Follow only a written plan and do not deviate no matter what. Dont change your outlook just coz somebody on the news said so. Our you got a tip-off. Or a expert things you are wrong.Before closing your terminal note down all entries in a journal and do all the research for the next day.Patience is a virtueShould ha…
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mielec avatar
mielec 21 Dec.

To be succesful you need just lern from your own mistaces. This is really hard stuff.
Buy you are right following the better you can avoid many mistakes

ritesh avatar
ritesh 22 Dec.

Quite extensive article. Keep it up buddy and wishing you a very happy and prosperous New Year. +1

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