Psychology of Forex Trading

Dec 18, 2016 at 08:03
8,746 Views
290 Replies
Member Since Nov 15, 2015   56 posts
Feb 10, 2017 at 06:05
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 Nov 15, 2015   56 posts
Feb 10, 2017 at 06:22
Forex Psychology: Don't jump into the market without trading plan
Member Since Dec 11, 2015   1487 posts
Feb 10, 2017 at 12:55
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 Mar 14, 2016   44 posts
Feb 10, 2017 at 15:09
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! 😁
Member Since May 04, 2012   1608 posts
Feb 10, 2017 at 18:56
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.
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since Nov 15, 2015   56 posts
Feb 10, 2017 at 19:48
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
Member Since Dec 11, 2015   1487 posts
Feb 11, 2017 at 12:19
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.
Member Since Feb 08, 2017   6 posts
Feb 12, 2017 at 07:59
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 Nov 15, 2015   56 posts
Feb 13, 2017 at 09:07
Forex Psychology: Don't feel excited from unrealized winning trade
Member Since Jul 09, 2015   48 posts
Feb 13, 2017 at 11:10
Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade

Or also maybe don't feel sad about the missed opportunity.
Member Since Dec 11, 2015   1487 posts
Feb 13, 2017 at 12:03
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.
Member Since Aug 06, 2015   17 posts
Feb 21, 2017 at 07:19
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
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.
gels4
forex_trader_350130
Member Since Aug 07, 2016   10 posts
Feb 21, 2017 at 15:36
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.
gels4
forex_trader_350130
Member Since Aug 07, 2016   10 posts
Feb 21, 2017 at 15:37
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.
Member Since Nov 15, 2015   56 posts
Feb 21, 2017 at 20:12
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
proyecto
forex_trader_372845
Member Since Oct 31, 2016   36 posts
Feb 23, 2017 at 09:26
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.😄
edinson
forex_trader_360308
Member Since Sep 14, 2016   10 posts
Feb 23, 2017 at 09:28
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 ..
proyecto
forex_trader_372845
Member Since Oct 31, 2016   36 posts
Feb 26, 2017 at 06:52
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.
jhonix
forex_trader_381988
Member Since Dec 06, 2016   37 posts
Feb 26, 2017 at 06:56
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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