Seeking knowledge from a fisherman for forex trading

trade fisherman wallpaper
Trade like a fisherman

This article contains educative information about the psychology of forex trading and aims to strengthen your mental readiness in making transactions in forex.

You all know what fishermen are, right? Yes, that's right, fishermen are people whose livelihoods catch fish or other marine life.

So why are fishermen? Because from fishermen we can learn to trade knowledge. That's when trading related.

Before continuing to read, maybe you confused why we have to learn from a fisherman.

Now and then we need to discuss other business professions while adding insight as well as absorbing what knowledge we can absorb from other business fields besides forex.

So basically, a fisherman does not go straight to the sea without preparation. That must have done for many preparations.

Some preparations a fisherman must prepare that before earning a fortune at sea are:

Prediction of Wind Eye and Season

A fisherman must master this. Season influences sea surface temperature. The temperature will affect the behavior of several types of fish. Likewise, with the direction of the wind.

The direction of the wind will affect the surface currents of seawater. By mastering this, finding fish will be more efficient and effective because fishermen know the location of the fish.

In the forex, a trader must know the trend of currency price movements and the impact of a fundamental news issue. Do not occasionally fight the market trend. If the trend is going up now, don't be desperate to sell. Conversely, if the trend goes down again, don't determined to buy.

Patience and Mental

Regarding mentality and patience, it is undeniable that fishermen are good at it. A fisherman can wait for hours at sea to get fish. A fisherman never knows how many fish will be available for today. They know that 'waiting' is the main weapon.

Even when the bait hit by a fish bite, the fisherman did not blindly pull his fishing line. There will tug where the fish will carry off the bait until finally tired of fighting. And at the right time, the price of patience finally pays off.

In forex trading, patience is very necessary. This factor affects the mental psychology of a trader. There will be a 'wait and see' process where we have to wait for the right moment to place Buy and Sell positions.

There will also be a 'release and let go' process where we have to hold the minus position because it has not hit by taking Profit, there are also times when we have to let go when the Stop Loss position is hit.

Material Calculation and Costs

Before looking for fish, an experienced fisherman usually has prepared a calculation of the cost of fuel, type of fishing, hook, and type of bait.

What we can absorb here is the ability of a fisherman to determine the cost before fishing. In forex trading, it is Money Management. This is very vital, imagine we want to find big fish, but the bait used by worms. In forex transactions, we must adjust the number of lots and transactions with capital.

That is some knowledge that is worth learning from a trader from a fisherman.

So the conclusion from this psychological story that it is difficult to become a trader. Profit and loss is a process.
Never give up. Just like Mr. Fisherman's patience, the price of that patience will pay off.

The market is like a fish in the sea, sometimes a lot sometimes a little. Traders are like fishermen, sometimes fishing can be a lot or sometimes a little. So there are many similarities between traders and fishermen.

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