It is important to understand the difference between what you, as a forex funded trader, can and cannot control. Successful traders are well aware of what is in their power and what they need to let flow. Sometimes, the market will be all over the place, causing distress and frustration. During that time, successful funded traders are able to take a deep breath and acknowledge that the only thing they can control is their reaction to the market, but never the market itself. Other times, it may not be as apparent and some of you may find yourself trying to control the market without even realizing that that’s what is going on with you. The best traders are able to focus their time and energy on what they can control, rather than lose time and energy on things that they cannot control. The best way to prepare for the “uncontrollable” is to have a good defense plan, prepare for it, and have various contingencies. Hope for the best, but prepare for the worst. The better your plan, the more equipped you will be when there come highs and lows in the market. Believe it or not, self-control is sometimes the key to determining whether a funded trader will be successful or not. As a rule of life, which is undoubtedly applicable in the forex trading business, we cannot control what others do, how they think and behave, and what becomes of them. Forex trading is no stranger to this. The sooner you realize that you are only in charge of and are capable of having a good plan in place, the more chances will exist of minimizing losses and maintaining your funded trading accounts in the future.
Another important reminder is that you are just one person in a market that holds thousands, if not millions, of people. There are people who are fighting the same battle as you in the forex trading business and every single person will have their own plans and goals they are working hard to execute. Do not focus on what everyone else is doing. Focus on and control what you are doing. Learn as much as possible, ask questions, gain experience, be passionate, and continue to grow. That is all that you can do. Controlling what you can and letting go of what you cannot is going to help determine how soon and how successful you will be.
This article is for informational purposes only and should not be interpreted as investment advice, a recommendation, or a forecast of performance. Performance in the past cannot be used to forecast or guarantee performance in the future.