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Psychology of Forex Trading
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rob559

Member Since Feb 11, 2011  1916 posts rob559 Dec 28 2016 at 07:20
when the risk is low you can sleep better

one day at a time
FxMasterGuru

Member Since May 04, 2012  1559 posts FxMasterGuru (FxMasterGuru) Dec 28 2016 at 07:24
mitchel14 posted:
Forex Psychology: never dazzle thinking that you will become a millionaire with minimal investments and without any small risk


Correct. Forex is modern days' 'Gold Rush'...

As we all know, during the 'Gold Rush' mostly the merchants had become rich... Like Forex brokers in modern times....

We are like these guys, just in a different century...


Attachments:

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

Member Since Sep 21, 2016  28 posts jannel Dec 28 2016 at 07:42
Monnex posted:
FxMasterGuru posted:
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


depends in your EA strategy :-)



I absolutely agree with that.

Monnex

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 28 2016 at 13:32
Forex Psychology: If you don't have trading strategy but you have winning trades that means you are gambling and lucky for a while but at the end you will loose all your money

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

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 29 2016 at 09:35
Forex Psychology: Be honest with yourself if you are loosing money from trading stop and find good strategy then try it on DEMO accoount

The Worst Enemy Is The Time Taken To Find A Good Signal To Trade on
rob559

Member Since Feb 11, 2011  1916 posts rob559 Dec 29 2016 at 09:42
trill12 posted:
Monnex posted:
Forex Psychology: If you don't have trading strategy but you have winning trades that means you are gambling and lucky for a while but at the end you will loose all your money



I agree... In this business strategy is everything! You can not trade at the mercy of luck.
of course

one day at a time
FxMasterGuru

Member Since May 04, 2012  1559 posts FxMasterGuru (FxMasterGuru) Dec 29 2016 at 09:53
Don't let trading become a dangerous gambling habit or a gambling substitute.

Start with a VERY SMALL, but REAL LIVE account and with a strict MONTHLY budget.

If the budget is gone, reevaluate the mistakes until next month's budget kicks in. Never violate this rule.

Should your budget survive the month: Good for you! You are on the right track!

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

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 29 2016 at 11:52
FxMasterGuru posted:
Don't let trading become a dangerous gambling habit or a gambling substitute.

Start with a VERY SMALL, but REAL LIVE account and with a strict MONTHLY budget.

If the budget is gone, reevaluate the mistakes until next month's budget kicks in. Never violate this rule.

Should your budget survive the month: Good for you! You are on the right track!


I agree with you that REAL LIVE account is the best learning field to trade, but with very small amount of money

The Worst Enemy Is The Time Taken To Find A Good Signal To Trade on
mitchel14

Member Since Jun 03, 2014  58 posts mitchel14 Dec 29 2016 at 20:50
FxMasterGuru posted:
mitchel14 posted:
Forex Psychology: never dazzle thinking that you will become a millionaire with minimal investments and without any small risk


Correct. Forex is modern days' 'Gold Rush'...

As we all know, during the 'Gold Rush' mostly the merchants had become rich... Like Forex brokers in modern times....

We are like these guys, just in a different century...





Thank you ... you could not graph it better. wink

naiza

Member Since Aug 09, 2016  36 posts naiza Dec 29 2016 at 21:06
Monnex posted:
FxMasterGuru posted:
Don't let trading become a dangerous gambling habit or a gambling substitute.

Start with a VERY SMALL, but REAL LIVE account and with a strict MONTHLY budget.

If the budget is gone, reevaluate the mistakes until next month's budget kicks in. Never violate this rule.

Should your budget survive the month: Good for you! You are on the right track!


I agree with you that REAL LIVE account is the best learning field to trade, but with very small amount of money




REAL LIVE is the best coach.

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.