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You need sound mind
Apr 07, 2022 at 04:23
Definitely, you should belong to a sound mind for trading. If your mind is antiquated with several doubts, you can’t trade perfectly. To develop your mind the way it should be while trading, you must arm yourself with knowledge. Don’t let this tendency go downward because it’s essential.
Mitglied seit Feb 16, 2022
113 Posts
Apr 14, 2022 at 05:21
A Forex trader’s mind should not be antiquated with emotion, fear and other bad human qualities. Because these bad qualities work as a barrier to the Forex traders. Traders should follow risk management strategy in their trading because it is effective.
Mitglied seit Jul 20, 2020
385 Posts
Apr 27, 2022 at 16:46
Eloise posted:
I agree! Emotions simply can't get in the way. Forex cannot be anticipated and losses are common while trading. Calm yourself and have a healthy mind while trading for that you can try meditation and proper sleep hours.
Thats the thing losses are it doesnt matter how good a trader is the market is too volatile and has too many moving parts. If we have an edge and we let the law of large numbers take over we can be profitable even with the losses
Apr 28, 2022 at 04:14
Traders need a sound and a stable mind and it should not be risk-taking. Maximum traders don’t belong to this sound mind as a result surviving in Forex has become difficult for them. Experience always helps traders in removing all the bad practices from their mind.
Mitglied seit Apr 14, 2022
32 Posts
Apr 29, 2022 at 11:42
A bad day in trading can make you feel frustrated and upset. But you need to keep your mind calm and cool as emotions can ruin your knowledge as well as skills.
May 02, 2022 at 04:15
The ability to control your actions and know the right time frame to make a move is essential in forex trading as you must analyse which strategy may work and which won’t and be able to identify the right opportunity that will lead you to your goal without getting carried away by distractions. Traders must be confident and quick thinkers to slide through loss and earn profit efficiently.
Mitglied seit Apr 14, 2022
40 Posts
May 02, 2022 at 11:55
Of course, in order to trade forex successfully, you must have a clear mind.
I believe that while trading in forex, you must be focused, because if you lose your calm, you may incur losses.
I believe that while trading in forex, you must be focused, because if you lose your calm, you may incur losses.
Mitglied seit Jun 02, 2022
24 Posts
Jun 16, 2022 at 10:32
Trading is a mind game; thus, to make money, you need to be aware of how you take things in control. Avoid reacting the same way the market does. Give time to analyse it and then make a decision.
Jun 16, 2022 at 11:14
lauraJohnson posted:
Having a clear and sound mind while trading in forex is very important as one should be focused while making his trades else, he may incur a huge amount of losses. Trading in forex requires a high level of judgement in decision making which is why a trader has to be in a sound mind so that he can sustain in forex.
Yes, you are right. Moreover, having a sound mind benefits you not just in trades but also in life.
Mitglied seit Jun 03, 2022
17 Posts
Jun 21, 2022 at 08:15
Sound mind is very important for making rational trading decisions. Market has no emotions and can wipe you out if you let any kind of negative emotion overrule you.
Jun 29, 2022 at 04:44
Michihito posted:
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.
Absolutely, Forex is all about mental game! And there is no way to be a successful trader with an unstable mind! Psychological stability is such an important parameter here!
Mitglied seit Mar 31, 2021
222 Posts
Jul 26, 2022 at 13:16
It is very easy to talk about emotionality. But in reality everything is much more complicated. Unfortunately it is impossible to completely turn off emotions. But they can really be reduced. Everything is in your hands, dear traders. Do not hesitate to hold back.
Think thrice before opening an order
Jul 27, 2022 at 05:16
Letting emotions dictate trading decisions is the biggest error any trader can make. A successful forex trader will experience numerous little loses as well as a few large profits. It's better to have a positive mindset and shouldn't feel overwhelmed with losses.
Aug 04, 2022 at 07:09
Every trader is different and they undergo several emotions. When trading forex it is important to be mentally fit else we can face severe losses. To keep emotions under check, formulate your trading strategy based on your needs and market knowledge. Identify and set up your risk levels and benchmarks on when to enter and exit. Keep revising the plan time and again to ensure you are on the right track.
