Psychology of Forex Trading
forex_trader_368734
Member Since Oct 13, 2016
26 posts
Jan 04, 2017 at 20:09
mario52 posted:
It is important that the trader's expectations are realistic, which means that he must have an appropriate framework. In the long run, every trader should try to be consistently profitable, but at the same time should not strive to maintain consistency in the short term. This is impossible because of the changing market environment. It is okay to have a bad day or bad week or keep a low profile for a period until the market environment improves.
Successful traders know when the market does not provide them with good opportunities all the time, so they do not expect their results to be consistent. Novice traders should not have this goal that only leads to frustration. As well as a good poker player, our goal is to survive in difficult times and make the most of it when you are offered great opportunities.
This is a copy and paste of the internet. The forex psychology that many recommend here speaks of their own experiences my friend. Not advice developed and published by ... anyone know?
forex_trader_368734
Member Since Oct 13, 2016
26 posts
Jan 04, 2017 at 20:09
Well said! @FxMasterGuru It seems that you are a guru 😄
forex_trader_350876
Member Since Aug 10, 2016
12 posts
Jan 05, 2017 at 07:52
FxMasterGuru posted:fabell4 posted:
Forex Psychology: that your brokers are regulated is the best guarantee. Choose a broker who is under regulatory rules.
Practically all brokers claim to be regulated, which does not stop them taking off with millions of Dollars in client funds. Like the Reza F**ing Mokhtarian, Iranian-Canadian CEO of NZ-regulated Capital Trust Markets did in 2015... Not to mention the infamous case of tje NZ-regulated 3TGFx just 6 months ago. The list of 'regulated' THIEF BROKERS is very long on ForexPeaceArmy...
But it can happen even in the USA; just read up on Google about Bernie Madoff's (retired NASDAQ CEO) HUGE Ponzi scheme...
In summary: Your best bet is a broker with FCA regulation (and with automatic FSCS insurance), should the worse happen...
In total agreement with you.
forex_trader_350876
Member Since Aug 10, 2016
12 posts
Jan 05, 2017 at 07:52
mario52 posted:
It is important that the trader's expectations are realistic, which means that he must have an appropriate framework. In the long run, every trader should try to be consistently profitable, but at the same time should not strive to maintain consistency in the short term. This is impossible because of the changing market environment. It is okay to have a bad day or bad week or keep a low profile for a period until the market environment improves.
Successful traders know when the market does not provide them with good opportunities all the time, so they do not expect their results to be consistent. Novice traders should not have this goal that only leads to frustration. As well as a good poker player, our goal is to survive in difficult times and make the most of it when you are offered great opportunities.
This is true, the real trader or the good trader knows exactly when to make his move because he constantly analyzes the market.
forex_trader_351982
Member Since Aug 15, 2016
12 posts
Jan 05, 2017 at 07:58
It may sound a little silly, but the best psychology on the planet is to maintain humility, even if we are doing well or not so well.
forex_trader_351982
Member Since Aug 15, 2016
12 posts
Jan 05, 2017 at 07:59
@FxMasterGuru Choosing FCA is always the best option.
forex_trader_353291
Member Since Aug 19, 2016
12 posts
Jan 05, 2017 at 08:01
Monnex posted:
Forex Psychology: Be honest with yourself if you are loosing money from trading stop and find good strategy then try it on DEMO accoount
This is not to add losses?
forex_trader_353291
Member Since Aug 19, 2016
12 posts
Jan 05, 2017 at 08:02
FxMasterGuru posted:fabell4 posted:
Forex Psychology: that your brokers are regulated is the best guarantee. Choose a broker who is under regulatory rules.
Practically all brokers claim to be regulated, which does not stop them taking off with millions of Dollars in client funds. Like the Reza F**ing Mokhtarian, Iranian-Canadian CEO of NZ-regulated Capital Trust Markets did in 2015... Not to mention the infamous case of tje NZ-regulated 3TGFx just 6 months ago. The list of 'regulated' THIEF BROKERS is very long on ForexPeaceArmy...
But it can happen even in the USA; just read up on Google about Bernie Madoff's (retired NASDAQ CEO) HUGE Ponzi scheme...
In summary: Your best bet is a broker with FCA regulation (and with automatic FSCS insurance), should the worse happen...
True! 😄
Member Since May 04, 2012
1608 posts
Jan 05, 2017 at 08:02
mattx posted:
Well said! @FxMasterGuru It seems that you are a guru 😄
Thanks! And don't forget to click 'Vouch'... 😀
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since Dec 30, 2016
97 posts
Jan 05, 2017 at 08:14
Traders make trading more difficult than necessary. Why? Because that's the way trading is marketed. No money to be made off simple!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
forex_trader_350643
Member Since Aug 09, 2016
25 posts
Jan 05, 2017 at 19:32
Forex Psychology: Our goal is to become a successful trader and not someone who copies or follows strategies of others.
forex_trader_350643
Member Since Aug 09, 2016
25 posts
Jan 05, 2017 at 19:33
Forex Psychology: As an operator we have to develop a strategy and learn to analyze the market. Being able to do our own market analysis will get us closer to being a professional trader. Doing your own analysis allows us to be self-sufficient.
forex_trader_368735
Member Since Oct 13, 2016
25 posts
Jan 05, 2017 at 20:54
zack4 posted:
Forex Psychology: Our goal is to become a successful trader and not someone who copies or follows strategies of others.
We can learn from others, take good ideas from the strategies that work for other marketers. But we must always develop our own strategy.
forex_trader_368735
Member Since Oct 13, 2016
25 posts
Jan 05, 2017 at 20:57
Errors such as leaving the market too soon or maintaining losing positions are repeated by operators from all countries and social settings. Who is responsible? The emotions of the merchants.
Member Since Dec 11, 2015
1487 posts
Jan 07, 2017 at 12:18
The problem with maintaining a losing position is that it’s hard to tell whether it really is a losing position or whether one needs to be patient until the market turns around, as it often does.
forex_trader_379977
Member Since Nov 28, 2016
27 posts
Jan 08, 2017 at 07:42
@FxMasterGuru Ego up! 😁
forex_trader_379977
Member Since Nov 28, 2016
27 posts
Jan 08, 2017 at 07:42
TheRumpledOne posted:
Traders make trading more difficult than necessary. Why? Because that's the way trading is marketed. No money to be made off simple!
I've always said good things do not come easy. It takes effort!
forex_trader_350120
Member Since Aug 07, 2016
24 posts
Jan 08, 2017 at 07:48
Something I learned, in commerce there are no friends, only partners, coaches, mentors. Not friends.
forex_trader_350120
Member Since Aug 07, 2016
24 posts
Jan 08, 2017 at 07:48
Forex Psichology: The most successful traders simply maintain their operations. They do not analyze all day, do not investigate historical trends and their results are excellent.
