Impulsive Trading

The market is moving like a bat out of the darkness and you jump into the trade.  Sure as can be, you get in just as the trade peaks, for a loss.  This is impulsive trading.  Impulsive trading will kill your account.

The focus this weekend is changing your psychology so you no longer take impulsive trades.  All of us have been taken in by sudden price movements outside our trade plans.  You have to stop taking these trades if you want to run a successful forex trading business.

To stop impulsive trading you have to associate impulsive trading with something dangerous, or disastrous so that you feel the situation strong enough to sink it into your subconscious.  Use what ever works for you.  As you recall a impulsive trading scenario also recall an impending car wreck or whatever else scares the pants off of you.  Repeat this image over and over to drive it into your mind.  Feel it smell it.  Impulse trading = car wreck, impulse trading = car wreck.  Know your avoidance reaction to it.  You want to change your subconscious response.  It is after all your subconscious taking the trades.  You would not in your right mind enter out of trade plan trades - would you?

 Impulse traiding = alligator trap, impulse trading = alligatior trap.

Remember we trade like the elite professional traders.  We always have a trade plan and stick to it 100%.  We trade chart pattern signals respecting the fundamentals.  We trade breakouts seeking to maximize trend riding profits while minimizing risks.