Within trading community, it almost sounds like a cliche nowadays when you are told that forex trading success depends on the three following elements:
- Trading strategies (entry and exit setups)
- Money management (risk management and position sizing)
- Trading psychology
Certainly it is very right to summarize trading success in the above points. You need, to realize that trading psychology is not a separate task, it should regulate everything we do in trading. It is including how we choose and design our trading strategies, planning our position size and risk management. Most important, how do we respond to market movements and our gains and lossess.