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Forex Trader Psychology- Self Analysis vs. Technical Analysis So you've probably all heard of technical analysis right? If not you probably have not been around the forex markets very long. Technical analysis is the study of charts. Traders do this to try and read what is going on in the markets in order to make informed trading decisions. The internet is awash with technical analysis and trading systems which are based on it. Nearly everybody is trying to become a great analyst.But sadly most are overlooking a far more important area of analysis: SELF ANALYSIS.Hardly anyone looks at themselves, but this is actually a far more important task than market analysis. Self analysis involves looking at your self and reading your own psychology. This may sound a bit abstract, but it is very important that you learn about yourself as a trader. Now if you are a system trader, self analysis is not as important for you. But if you use discretion, self analysis is extremely important.How often have you had a great trading run? Most of you who have traded for a while could have had some very good spells where everything works. Was this pure luck? Well there may have been luck...more
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