 Psychology is the scientific study of the human
mind and its functions, especially those affecting
behaviour in a given context
 Consistent profit taking, which is the goal of
every trader, is not a by product of expertise in
market analysis or extensive knowledge about
FOREX, rather, it is the ability to manage
yourself
 Discipline is the name of the game. Be
disciplined and the market will reward you
handsomely for it

 There are three
major requirements
for success in Fx
trading and they
are:
1. Skill
2. Money Management
3. Psychology
10%
20%
70%
Fx Trading Success
Chart
Skill Money Mgmt. Psychology

 Your technical Skill only account for 10% of your
trading success. This means that you can be
technically skilful and still be a flat failure
 Money Management account for 20% of your
success in this business hence you can not afford
to joke with it
 The third and final requirement, Psychology,
which basically deals with how disciplined you
are in sticking with your game plan and
managing your emotions, account for a whooping
70% of your success in the fx market

 Trading In The Zone – by Mark Douglas
 Trading for a Living – by Elder Alexander
 Calming The Mind So That Body Can Perform – by Robert M.
Nideffer, Ph.D.
 Lifestyles of the Rich and Pipped – by Rob Booker & Kim
Shaftner, M.D.
 The Miracle of Discipline – By W. R. Booker & Co
 Zoom in on Personal Trading Behaviour and Profit from it – by
Linda Bradford Raschke
 The Woodchuck and the Possum – by Rob Booker
 25 Rules of Forex Trading Discipline – by Douglas E. Zalesky