Forex: Why Psychiatrists Make Better Traders Than

Expert Economists?

It has been seen that millionaire traders such as Elder, William and some other are professional psychiatrists. This cannot be said as coincidence that the main market leaders are not the economic experts but they are psychiatrists or psychotherapists. All you have to do to become successful is to know why it happens with forex. This will enable you to point out your mistakes and once you point them out you will definitely move towards correction. When you correct these mistakes eventually you will become a trader having no psychological barriers in the way to better earnings in forex.

What is reason behind a psychiatrists being the market leader rather than an economist?
It is a fact that always confuses economists that exchange rates are not always related directly to the economic conditions in the country. Can any of the economists bid for a low Forex rate when the economic situation is getting better? An economist knowing all the doctrines of economics will be confident that this can never happen. Unfortunately it happens in Forex. Nobody can tell when and how will the currency react to the economic changes in the country. For the ones who believe that basic knowledge is enough, there is way to teach them a lesson known as Elliott fifth way. Before the trend turns, ridicules burst of the currency takes place by the old trends. This is mainly done to mystify and attract new people towards the market, mean while the experts wait for the trends to turn back. This is lack of psychological knowledge that enables a trader to analyze the behavior of the masses.

A question may arise that is there any method of overcoming this fear?

Effective and efficient solutions have been offered in every forex book and article in order to overcome psychological barriers to the traders.

But as a matter of fact none of the books and articles contains material that can overcome the fear experienced by the forex trader.

These books consist of two unequal parts. Most of the discussion in the book is about the problems a trader faces in the forex works make it unsuccessful which the traders already know. While the lesser part of the book contain some advices for the traders to overcome their problems and become successful.

UNSATISFACTORY CONCLUSIONS.
There are a number of about millions of traders who can be included as a new field for psychiatrists. As most of the traders have high expectations and dreams to become as successful as George Soros this new field tends to be rather profitable.

There is very sad part which includes irresistible majority of the traders who do not even know what Forex is all about.