Forex Dependent Trader

A dependent trader needs to have it come to him/her they don’t want to put much into trading when it comes to work, if they can get a tip on a trade all the better. This kind of trader wants to “strike it rich” if there is such a thing but a dependent trader never knows how to trade for oneself and constantly needs help and direction.

The dependent trader listens to experts and tries to place “can’t lose” trades yet seems to always end up losing in the end. Dependent traders trade with no trading plan and not much thought or understanding about what to do next they are directionless.

As you can imagine trading like this for awhile and mounting losses with the occasional win will have an emotional effect on the trader and they will just give up saying they can’t do it or trading Forex is just not for them.

The lottery mentality trading that dependent traders exert comes to an end or they have to continually fund their accounts as they lose everything in it over and over again. These traders have a desire to win but no desire to follow rules and guidelines that are required for successful trading in the markets.

Some even rationalize that its just a matter of time before they get lucky and it is their “turn” to win but real professional traders don’t rely on luck so they can see the dependent trader is a few losses away from total ruin. This way of trading the Forex markets or any markets has little chance of financial success.

There is another trader who is totally opposite the dependent trader and that is the Independent Trader. This trader will be discussed in the article called Independent Trader in the menu to the left and here is a hint: you want to be the Independent Trader.