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Psychology of Forex Trading
Feb 10, 2017 at 06:05
Member Since Nov 15, 2015
56 posts
NEEnah posted:Monnex posted:
Forex Psychology: Support & Resistant levels are important for entry and stop your positions
That's true but how does this relate to psychology??
beginner traders ignoring them and open trades without even thinking
what i mean that traders must learn how important to educate themselves
Member Since Dec 11, 2015
1487 posts
Feb 10, 2017 at 12:55
Member Since Dec 11, 2015
1487 posts
Monnex posted:
Forex Psychology: Don't jump into the market without trading plan
That’s not just psychology, it’s basic common sense.
Member Since May 04, 2012
1608 posts
Feb 10, 2017 at 18:56
Member Since May 04, 2012
1608 posts
Planning the trade is the EASY part.
TRADING the PLAN is a whole different story... Unless you leave this second part to an unemotional trading robot.
TRADING the PLAN is a whole different story... Unless you leave this second part to an unemotional trading robot.
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since Dec 11, 2015
1487 posts
Feb 11, 2017 at 12:19
Member Since Dec 11, 2015
1487 posts
Monnex posted:mlawson71 posted:Monnex posted:
Forex Psychology: Don't jump into the market without trading plan
That’s not just psychology, it’s basic common sense.
Yeah it is, but this common sense not found in beginner traders
Hahaha, thank you, that genuinely cracked me up just now and I needed it.
Feb 12, 2017 at 07:59
Member Since Feb 08, 2017
6 posts
Trading psychology is very important thing for a forex trader who want to be a market leader. He or she have to understood the trading psychology whether it is long term trade or short term trade. When you want to become a master trader you have to understand the market psychology in a discipline way. Because when a trader trade with their emotion he or she can lose his account.
Member Since Dec 11, 2015
1487 posts
Feb 13, 2017 at 12:03
Member Since Dec 11, 2015
1487 posts
MC85 posted:Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade
Or also maybe don't feel sad about the missed opportunity.
Personally, I’d say that both is a good idea. Getting excited for whatever reason – both positive and negative – can cloud your judgement.
Feb 21, 2017 at 07:19
Member Since Aug 06, 2015
17 posts
Crowe posted:
Trading psychology is very important thing for a forex trader who want to be a market leader.
It is difficult if not impossible for a single trader to become market leader I guess. The leading part is reserved for the big institutions but psychology is important to lead one's way to success.
@mlawson71 I agree with you, you say it very well!
Member Since Dec 11, 2015
1487 posts
Feb 21, 2017 at 12:28
Member Since Dec 11, 2015
1487 posts
AlbertoCo posted:Crowe posted:
Trading psychology is very important thing for a forex trader who want to be a market leader.
It is difficult if not impossible for a single trader to become market leader I guess. The leading part is reserved for the big institutions but psychology is important to lead one's way to success.
@mlawson71 I agree with you, you say it very well!
It also requires the kind of account size very few people in the world have access to.
forex_trader_350130
Member Since Aug 07, 2016
10 posts
Feb 21, 2017 at 15:36
Member Since Aug 07, 2016
10 posts
Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade
I would like to add: because you can fall from the sky and hit very hard against the ground ...
We can not make profits that we have not received, in trade things are not taken for granted.
forex_trader_350130
Member Since Aug 07, 2016
10 posts
Feb 21, 2017 at 15:37
Member Since Aug 07, 2016
10 posts
AlbertoCo posted:Crowe posted:
Trading psychology is very important thing for a forex trader who want to be a market leader.
It is difficult if not impossible for a single trader to become market leader I guess. The leading part is reserved for the big institutions but psychology is important to lead one's way to success.
@mlawson71 I agree with you, you say it very well!
I agree with you, I think that thinking that a trader will become one of the biggest in the market is a fairy tale.
However, if you can be a successful trader with good profits and an admirable business reputation. Although not yet figured as a Forex tycoon.
Feb 21, 2017 at 20:12
Member Since Nov 15, 2015
56 posts
gels4 posted:Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade
I would like to add: because you can fall from the sky and hit very hard against the ground ...
We can not make profits that we have not received, in trade things are not taken for granted.
Yeah exactly
forex_trader_372845
Member Since Oct 31, 2016
36 posts
Feb 23, 2017 at 09:26
Member Since Oct 31, 2016
36 posts
gels4 posted:AlbertoCo posted:Crowe posted:
Trading psychology is very important thing for a forex trader who want to be a market leader.
It is difficult if not impossible for a single trader to become market leader I guess. The leading part is reserved for the big institutions but psychology is important to lead one's way to success.
@mlawson71 I agree with you, you say it very well!
I agree with you, I think that thinking that a trader will become one of the biggest in the market is a fairy tale.
However, if you can be a successful trader with good profits and an admirable business reputation. Although not yet figured as a Forex tycoon.
Fully agree, all points are important to be a successful entrepreneur is like having a well-defined purpose, although it is the main secret of each and every successful entrepreneur. Your commitment is to have clear goals and discipline and patience will be achieved.Fully agree, all points are important to be a successful entrepreneur is like having a well-defined purpose, although it is the main secret of each and every successful entrepreneur. Your commitment is to have clear goals and discipline and patience will be achieved.😄
forex_trader_360308
Member Since Sep 14, 2016
10 posts
Feb 23, 2017 at 09:28
Member Since Sep 14, 2016
10 posts
MC85 posted:Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade
Or also maybe don't feel sad about the missed opportunity.
Well, you should not be depressed, but the missed opportunity is missed opportunity. He will not be back ..
forex_trader_372845
Member Since Oct 31, 2016
36 posts
Feb 26, 2017 at 06:52
Member Since Oct 31, 2016
36 posts
I think that when a trader suffers significant losses, he should consider taking a break from trading before fear and greed come to dominate his trading strategy and drive his decisions. It is important to understand that not all transactions will produce profits. Therefore, the trader must be psychologically able to understand that at some point he will have loss which ones he must manage properly.
forex_trader_381988
Member Since Dec 06, 2016
37 posts
Feb 26, 2017 at 06:56
Member Since Dec 06, 2016
37 posts
edinson posted:MC85 posted:Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade
Or also maybe don't feel sad about the missed opportunity.
Well, you should not be depressed, but the missed opportunity is missed opportunity. He will not be back ..
Exact.😄
Also be aware of being disciplined.
Build your own plan and respect it to the end. To operate is not only to take a position, but also to have a valid reason for which losing position that has already crossed its limit of loss. It is possible that in some cases this will prove to be positive. However, if it does not turn out, the loss can be significant. Respect your plan and be disciplined.
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