You need sound mind

Sep 12, 2020 at 14:31
2,997 Views
63 Replies
Member Since Jul 19, 2020   298 posts
Sep 12, 2020 at 14:31
A trader needs a sound and composed mind to trade currency. If we are not mentally stable we won't be able to make profit. We need to be emotionless during trading decision. There are traders who can do good market analysis but can't make money by trading due to psychological issues.
Member Since Jul 19, 2020   751 posts
Sep 13, 2020 at 14:35
Yes mind is very important when it comes to trading. We need the ability to control our emotions. Fear and greed always control us. Most of the trades we open out of fear or greed. We need a mental discipline to control our emotions.
Member Since Jul 19, 2020   788 posts
Sep 13, 2020 at 22:30
Trading is usually a game of psychology. If a trader is not mentally fit, he will never be able to make a profit in trading. There are many traders who have very good analysis but they cannot make a profit by trading for a long time. Because they cannot control emotions in their trading. Meditation should be done to control emotions.
Member Since Jul 20, 2020   341 posts
Sep 14, 2020 at 13:09
I completely agree with you. A trader needs a complete focus on his trading to make money from this risky market.
Member Since Jul 19, 2020   318 posts
Sep 17, 2020 at 11:07
YEs, you need a proper sound mind to concentrate on your trading and it will help you to make money from this risky market.
Member Since Jul 20, 2020   341 posts
Sep 17, 2020 at 18:44
A sound mind is very much needed to make trade perfectly. It is one of the most imp[ortant things top make money from this market.
Member Since May 19, 2020   416 posts
Jan 20, 2022 at 14:57
Trader needs to be a professional and the emotions that affect the mind during trading should be helpers, not destroyers.
@Marcellus8610
Member Since Feb 08, 2019   213 posts
Jan 20, 2022 at 17:21
The mindset is so important, most lose by having the incorrect mindset
Member Since Jul 08, 2020   14 posts
Jan 20, 2022 at 21:16
Oh yes, I totally agree with that. Mind is of utmost important in trading.
Member Since Nov 03, 2021   53 posts
Jan 24, 2022 at 12:09
The forex trading grind can be really tedious and can rip you off of your peace. What helps me to keep my mind fresh is my lifestyle choices that are definitely not related to trading. Spending time with my family, taking breaks, paying attention to my physical and mental health helps me to stay focussed during trading sessions.
Member Since Aug 10, 2021   178 posts
Jan 24, 2022 at 13:54
Yes, you need a solid and sound mind to become perfect in forex trading. Without knowledge, it will be difficult for you to become a good trader.
Member Since Apr 09, 2019   538 posts
Jan 24, 2022 at 14:16
I don't think you are ever 'perfect' in trading, regardless of strategy or mindset.
If you can't spot the liquidity then you are the liquidity.
Member Since Jan 10, 2022   40 posts
Jan 27, 2022 at 05:15
Peace of mind is crucial as clear decisions can not be made with a disturbed mind.
Member Since Jan 10, 2022   19 posts
Jan 27, 2022 at 08:49
Placing trades with a relaxed mind definitely turns out to be better.
Member Since Jun 07, 2021   72 posts
Jan 28, 2022 at 06:51
The state of mind matters a lot while trading. A person with a fresh mind can make better decisions and earn profits.
Member Since Jan 18, 2022   20 posts
Jan 31, 2022 at 07:39
Trading while worrying about other things is like solving mathematical problems while listening to music. It won’t be profitable and instead you can lose your money if you trade with disturbances in your mind.
Member Since Mar 16, 2021   477 posts
Jan 31, 2022 at 14:22
GeorgeBischof posted:
YEs, you need a proper sound mind to concentrate on your trading and it will help you to make money from this risky market.
Trading risky market therefore needs to be analyzed with full attention.
Member Since Jan 11, 2022   45 posts
Feb 01, 2022 at 07:37
Doing forex trading with a sound mind and a good strategy will bring you a lot of profits. A trader should always do forex trading with a sound mind because it will affect the way you trade. It is not good to do forex trading while you are angry or sad, because emotions can affect your judgement and you won’t be in a position to make good decisions.
Member Since Aug 05, 2021   401 posts
Feb 02, 2022 at 17:54
I think a lot of us get blindsided by the emotional aspects of trading, especially since demo accounts don't really prepare you for it. Suddenly it's a lot harder to stick to your plan when real money is on the line, but it's crucial to get past that.
Member Since Jul 23, 2020   869 posts
Feb 06, 2022 at 20:16
Trading psychology reflects traders' thinking and behavior patterns. Simply put, it's about the balance of fear and greed that governs each trader's behavior and investment.
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