Impassionate FOREX

 Impassionate

Interesting thing about the word 'impassionate' is that it has two opposite meanings. On the one hand it means being passionate about something, and on the other hand it means to be dispassionate. As a trader you need both those meanings to become successful.

Be passionate about trading

Look, if you're only in it for the money and don't care at all for charts, price development, financial news, or how different tradable instruments correlate with each other, in other words if you don't like the game , you probably won't last very long as a trader. In the beginning you might struggle, and there will definitely be difficult periods, so if you don't have any passion for the activity itself, for trading as such, it will be very hard to get through those difficult periods.

Be dispassionate when trading

You've carefully build a trading system that fits your trading personality, that has a solid set-up, exit strategy and money management. One of the main reasons you have a trading system is to keep you from making emotional decisions. So, now that you're in the market it's time to let your system do its work.

Therefore, when the position is open you are dispassionate. Your system is running the trade and you don't care either way whether or not the trade goes one way or the other. The system does not provide you with a 100% wins - no system can - but you've set it up so that it is profitable on the whole, and now you have to let it do it's work.

That doesn't mean you can never change your system, it means you have to trust your system as long as you're in a trade.