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Psychology of Forex Trading
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trill12

Member Since Aug 03, 2016  62 posts trill12 Dec 21 2016 at 17:16
PriceAction13 posted:
Monnex posted:
Here we will talk about how to plan your trade and what to do before, during and after


I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation! In addition, obviously I have a specific daily trading target that I try to fulfill, it not then I want for next session! Thus I handle my live trading!




I believe that working precisely with a clear daily goal or in trade is necessary. It helps to aim directly at the target. To have a clear focus for a specific outcome.

trill12

Member Since Aug 03, 2016  62 posts trill12 Dec 21 2016 at 17:18
Monnex posted:
Forex Psychology: If you want to profit from your trading don't do 7 mistakes

1- Trade too much

2- Risk too much

3- Thinking too much

4- Reading too much news & analysis

5- Gambling

6- Trading without strategy

7- No money management



Work strategies are good, just be strict with them. Constancy, responsibility and precision in our own rules.

Monnex

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 22 2016 at 09:15
traders think emotionally that he will be millionaire from forex by investing low balance account and high risk orders

most traders open trades with no reason or good signals and no calculation of how much they will lose

The Worst Enemy Is The Time Taken To Find A Good Signal To Trade on
naiza

Member Since Aug 09, 2016  36 posts naiza Dec 22 2016 at 13:53
Monnex posted:
traders think emotionally that he will be millionaire from forex by investing low balance account and high risk orders

most traders open trades with no reason or good signals and no calculation of how much they will lose



In this business calculation is necessary. You must draw your goal of gain but also take what can be the margin of loss to not have a bad ending.
That's trading are wisdom.

naiza

Member Since Aug 09, 2016  36 posts naiza Dec 22 2016 at 13:54
Monnex posted:
Forex Psychology: If you want to profit from your trading don't do 7 mistakes

1- Trade too much

2- Risk too much

3- Thinking too much

4- Reading too much news & analysis

5- Gambling

6- Trading without strategy

7- No money management



It seems that the theory of 'too much' is not favorable.

leopoldo

Member Since Dec 17, 2015  41 posts Mario (leopoldo) Dec 25 2016 at 07:49
PriceAction13 posted:
I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation!


Interesting approach and technique with meditation. I am wondering if it needs to be that long or even few minutes are enough for meditating smiley

Need for speed!
leopoldo

Member Since Dec 17, 2015  41 posts Mario (leopoldo) Dec 25 2016 at 07:49
naiza posted:
It seems that the theory of 'too much' is not favorable.


What do you mean by that?

Need for speed!
jamess2

Member Since Aug 20, 2016  29 posts jamess2 Dec 25 2016 at 08:34
MMM, I doubt that meditation will serve much in the Affairs of business. I.e., is in the personality of the dealer. If it is a volatile person, who does not trace its earnings targets and does not work professionally, the meditation will not help you.

adam4

Member Since Oct 04, 2016  40 posts adam4 Dec 25 2016 at 08:45
Monnex posted:
traders think emotionally that he will be millionaire from forex by investing low balance account and high risk orders

most traders open trades with no reason or good signals and no calculation of how much they will lose



And those who operate in this way end up with a not very pleasant result.

FxMasterGuru

Member Since May 04, 2012  1558 posts FxMasterGuru (FxMasterGuru) Dec 25 2016 at 13:19
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. smiley

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
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