10 crucial things forex trading can teach you about yourself and about your relationship with money

Think you already know what kind of relationship you have with money? After a few weeks of trading forex with real money you might discover things about yourself and your relationship with money that you were never aware of before; and many of these things are crucial discoveries in answering the question of why you just can’t seem to break your cycle of poverty.

In the first place, you get your hands on a $2500. You’re struggling to make ends meet. You don’t have any money in the bank and you haven’t been making any money with your business for more than a year (maybe the $2500 is your tax refund). You decide to use the $2500 to open an account trading forex. Right there you’ve made a decision that suggests that you don’t make the wisest most practical decisions for what to do with money when you have it.

Yes, forex trading is a form of investing and investing is usually considered a wise thing to do with money, but investing in forex is highly risky, so your choice to invest the money in forex would suggest you are prone to taking high risks. Being willing to take risks is a good trait to possess if you hope to become wealthy; however you need to be smart about the risks you take.

Okay, so you decided to trade forex with your $2500 even though you can barely manage to scrape enough money together to buy groceries. Be prepared to learn even more about yourself as you try to make money trading currency.

Things forex trading can teach you about yourself and your relationship with money:

1. Whether or not you are the type of person who will hang onto to a liability hoping and hoping it will turn around and become an asset, or the type of person who will cut your losses before your liability ends up costing you ten times more than it needed to.
2. Whether you have a tendency to be greedy for more which leads to you ending up with nothing because you don’t have rules to guide your decisions when it comes to taking profit. You take that extra risk hoping to get a few dollars more and end up losing the whole deal.
3. Whether you tend be afraid of losing and tend to sell yourself short taking whatever little money you get thinking a little money is better than no money at all.
4. Whether you think deep down that you don’t deserve to have money and that some force is set against you and determined to make sure you always lose in anything you try to do to make money.
5. Whether you’re the determined type who keeps on trying despite failure or the type who gives up easily
6. Whether you are decisive or indecisive
7. Whether you are disciplined and focused or undisciplined with a slight case of attention deficit disorder
8. Whether you are truly willing to work hard for money
9. Whether you measure your self worth by your ability or inability to make money
10. Whether you really want to be rich or just think you do