Many problems in trading are caused by your emotional state. The support or condemnation of others can play a significant role in this. Then, here’s the question: is it worth telling your loved ones and friends that you have decided to become a trader?
The question is rhetorical, since sooner or later you will have to share the news. You will go a long and hard way to success. The support of loved ones will play a significant role in this. If you go through all the stress alone, sooner or later your nerves will break down and you fail. It’s important to find at least one person who is ready to support you every step of the way.
Along with support, you will inevitably encounter negative reviews. To make it easier for you to accept this, it is better to prepare in advance for what awaits you.
Condemnation of Forex
Unknowing people equate trading with gambling. For them, it is a lottery, casino, or simply a scam. You may be considered naive or even foolish if you are hoping to make money on Forex.
Unsolicited advice usually comes from those who never delve into the essence of the issue. An overwhelming majority of such “advisers” are of that kind. Be prepared for disapproval, judgment, and even pity. The main thing is not to let the words of these people influence your choice.
Condemnation of Your path to Success
Even if Forex itself doesn’t cause a wave of indignation from the very beginning, be prepared to judge the length of your journey. Learning and practice will take you a lot of time and effort. It may take several years before you start making steady profits.
It’s so strange that people find it reasonable to spend 5 years in college to become a pro in any area, but expect an instant profit from Forex traders. They will draw your attention that after two years you still have not bought a yacht and are not flying in a private jet. Partially, such high expectations are due to false promises from unscrupulous brokers.
How to Respond to Criticism
Remember, the main criticism comes from:
- People with outdated stereotypes that success consists in getting a degree and working on a stable 9 to 5 job for the rest of their lives.
- Those who are afraid to go beyond in order to ensure real financial independence for themselves and their families.
- People who don’t understand how financial markets work.
- Those who are used to asserting themselves at the expense of other people's failures, because they themselves can’t achieve success.
The opinion of such people should not influence your decisions. If you find it difficult to completely abstract yourself from criticism, try to initially reduce the number of people devoted to your plans. Try to communicate your choice only to those people who are likely to support you.
You can also tell half-truth. If a negative person finds out about your intentions, you can say that Forex is just a hobby, a way to tickle your nerves from time to time. It's like making a couple of bets at a local casino or buying a lottery ticket once in a while. Perhaps then these people will be less persistent in their desire to point you to your wrong choice.
Maybe Tell Nobody at All?
It doesn’t work this way. To reduce the stress of failure and increase the joy of winning, you need a listener. Try to find at least one person who will walk with you all the way. If you can't find a partner among friends and family, you can look for a like-minded person who also trades in Forex. This person will understand better than others what you are going through. He or she will be able to support you and you will be able to support him or her in return. Perhaps the joy for the victories of your like-minded person will support you in the most difficult moments of your path to success.