Psychology of Forex Trading

As these are the main recommendations for Forex trading:
1. You must know your goals and your limits, in that you must be very clear.
2. If it sounds too good to be true, possibly it is. Beware of the way you are raised Forex trading.
3. Stay calm because it takes time.

And... The knowledge in this type of operations or in the success, is based on the study of the market and of the tendencies and in simply knowing the business.

Forex Psychology:
 Trading is not something you can do 10 minutes on Monday and 6 on Thursday. This is no game, and until you do not get a regular schedule you can not start making money. There are people who open a chart one day for 5 minutes, then return to normal life and then the one-week returns to look at it for other minutes.
So my friends. If you do not take it seriously, you do not see serious results.

Also, who with lack of discipline has done well in this Forex?
The problems of people is that they believe that it is easy money, won the easiest way, without market research, or good support, or quality hours dedicated to it. So they are disappointed, or simply, do not do as well as planned, because they did not perform what they should do.

@naiza And REAL TRADE can be the toughest coach in history. You will learn, but be careful, you can learn the lessons, be smart and become one of the best. Or end up crying because you have lost everything

proyecto1 posted:
Forex Psychology: If you are hoping to make money and never lose, you are deluding yourself.

well said 😇

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

Here is what to DO
1. Create the plan
2. Execute the plan - stick to it, dont change it based on your fucking feelings
3. If it works go to#2
4. If it does not go to #1

proyecto1 posted:

fabritzio posted:
Forex psychology: never believe that your money is 100% sure.

In trade nothing is safe ...

Funds are NOT SAFE even if one DOES NOT trade... Seriously!

Just check out ForexPeaceArmy.com to see how many brokers run off with HUGE segregated client funds and ''fall off Earth'', i.e. disappear forever...

The only real guarantee is UK's FSCS's 50,000 GBP insurance coverage for FCA regulated brokers... Otherwise you are on your own for chasing criminal on exotic islands... If you like such adventures, don't worry about the safety of your funds...

Forex Psychology: If you don't know how to trade the market properly, for sure you will not make money

Forex Psychology: you must have the proper trading mindset to become a profitable trader

togr posted:

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

Here is what to DO
1. Create the plan
2. Execute the plan - stick to it, dont change it based on your fucking feelings
3. If it works go to#2
4. If it does not go to #1

Well said! It is that simple, the problem, not only of the merchants but of every person, is that they develop a plan and in the first of change they abandon it or replace it with a new one. And that is deadly in any area where a plan is implemented.

Trade and emotions do not get along, they are not good to the couple. Reasoning and cunning are needed here.

FxMasterGuru posted:

proyecto1 posted:

fabritzio posted:
Forex psychology: never believe that your money is 100% sure.

In trade nothing is safe ...

Funds are NOT SAFE even if one DOES NOT trade... Seriously!

Just check out ForexPeaceArmy.com to see how many brokers run off with HUGE segregated client funds and ''fall off Earth'', i.e. disappear forever...

The only real guarantee is UK's FSCS's 50,000 GBP insurance coverage for FCA regulated brokers... Otherwise you are on your own for chasing criminal on exotic islands... If you like such adventures, don't worry about the safety of your funds...

Yeah FCA regulated brokers is more secure than other islands

@Monnex Effectively regulated brokers seem to be a kind of guarantee for the trader.

jannel posted:
Forex Psychology:
 Trading is not something you can do 10 minutes on Monday and 6 on Thursday. This is no game, and until you do not get a regular schedule you can not start making money. There are people who open a chart one day for 5 minutes, then return to normal life and then the one-week returns to look at it for other minutes.
So my friends. If you do not take it seriously, you do not see serious results.

Wise advice 😄

Forex Psychology: that your brokers are regulated is the best guarantee. Choose a broker who is under regulatory rules.

By the way FCA regulates a few. There is where they should aim to have a reliable broker,

Forex Psychology: Profitable traders are not profitable all the time.

Every beginner trader wants to be successful as an operator in the financial markets, that is, to reach the point where he earns money consistently so that he does not have to depend on other sources of income.
Your ultimate goal is to be consistent. The problem is that good traders are consistent with their methods, but their results may be inconsistent in the short term.

This creates a conflict for the newbies, which are anxious to be consistent all the time, although this is not a realistic and characteristic goal of good trading.

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.