Yes, this is a common saying in Forex trading that emphasizes the importance of focusing on what we can control in order to achieve success. In Forex trading, traders cannot control the market and its movements, but they can control their own behavior and actions.
Here are some examples of how traders can focus on controlling themselves in Forex trading:
Emotional Control: Traders should aim to control their emotions and avoid making impulsive decisions based on fear, greed, or other emotions. This can be achieved through practices such as meditation, journaling, and self-reflection.
Risk Management: Traders can control their risk exposure by using proper risk management techniques such as setting stop-loss orders, limiting position sizes, and diversifying their portfolio.
Trading Plan: Traders should develop a trading plan that outlines their strategy, goals, and risk management techniques. They should then stick to this plan and avoid making impulsive decisions that deviate from it.
Education and Practice: Traders can control their own development by investing time in education and practice. By developing their skills and knowledge, traders can improve their chances of success in the Forex market.
In conclusion, controlling ourselves in Forex trading means focusing on the things we can control, such as our emotions, risk exposure, trading plan, and education. By doing so, traders can improve their chances of success and achieve their trading goals.
