Having forex trading trading knowledge is really not going to help much, unless you have the guts to buy and sell in the forex market and putting your money at risk. The simple task of buying or selling a currency can difficult when its your own money is at stake.
Anxiety and fear will arise. A person needs courage to over come fear and act. When you can overcome your fear and trade, you will be come a successful trade.
Once you overcome your fear, it will get easier and easier with your forex trading and soon there is no fear. On the opposite hand you may become overconfident and that can cause you not to be focused enough on the risk you’re taking on.
Not being able to initiate a trade or sell a losing trade can create serious issues for the trader. By confronting these problems beforehand, a person can prepare before hand for their first real trade and that develops good habits from the start.
Self analyzing may be a start. Can emotions be controlled and trades execute without problems? On the other side of the coin, being overconfident and taking risk in your forex trading may not be a good thing.
Large losses can prematurely put you out of business quickly. It’s a good idea to get to know yourself before you put alot of money out as risk.