Impulse Trading and How to Avoid It

Aug 02, 2020 at 04:58
2,771 Views
47 Replies
Member Since Jun 21, 2020   59 posts
Aug 02, 2020 at 04:58
Impulsive trading is something that all Forex traders struggle with, some more than others. Trading on Impulse if a bad ideal because you are trading without plan, but the huge to just trade.
More often than not, those
Impulse traders turns out to lose a lot and below are best ways to avoid it.

1.Have Plan; Having a Daily plan is one of the best way to avoid impulse trading, make out your daily plan and make stick to it.
2. Chose A time frame; choosing a time frame helps you to avoid impulse trading, make your decisions based on the plans for that time frame.
3. And finally, Reduce the amount of time you spend on Screen, this will definitely make you and free you from the huge to do impulse trading.
NO EMOTION DURING TRADING.
Member Since Jul 19, 2020   788 posts
Aug 17, 2020 at 23:07
A trader should always be patient. The more impulsive you are in trading, the more you will lose. I have seen many traders who want 100% profit in trading. This attitude is the main reason for the loss. And when they lose. Then say trading is not a good thing. You have to follow the plan in trading. If there is any deficit in the plan then there will be a loss. And you have to be disciplined. And you have to follow money management all the time. You should never trade with an impulsive attitude.
Member Since Jul 20, 2020   298 posts
Aug 18, 2020 at 00:28
Most of the time you have to accept the loss in trading when trading with an impulsive attitude. Trading is a game of goals and if you want to win in this game of goals, you must show patience. It is wise to accept this loss in trading and move on to trading. If you start over-trading to cover losses, your account may become empty. Therefore, you need to think positive all the time.
Member Since May 24, 2020   112 posts
Aug 18, 2020 at 06:17
The patience of traders during trading is always rewarded with a good result.
Member Since Feb 07, 2020   41 posts
Aug 21, 2020 at 09:30
Go it with a proper strategy, make schedule, do analysis and you never get impulsive in the trading.
Member Since Jul 19, 2020   34 posts
Aug 28, 2020 at 11:24
You should make a good and profitable strategy to make money fro this market.
Member Since Jul 20, 2020   232 posts
Oct 07, 2020 at 19:51
Very informative post. Every trader should be very serious in their trading. Make a plan and choose the best strategy. It will help you to earn huge money from this market.
Member Since Jun 15, 2020   59 posts
Oct 08, 2020 at 10:57
You need to tell yourself that no matter what, you are going to stick to your trading strategy as it has been tested. Entry and exit points must be predetermined using indicators, and then you ought to stick to them. Whenever you feel too overwhelmed, take a stroll outside.
Member Since Jul 09, 2020   39 posts
Oct 15, 2020 at 04:56
If you are trading based only on impulse, you are playing a very risky game. You must have an organised plan that you can follow. This will keep you from exposing yourself to losses.
Member Since Oct 09, 2020   28 posts
Nov 09, 2020 at 10:58
It is very important for every trader to be patient. Being impulsive will only make you lose your money.
Member Since Aug 07, 2020   75 posts
Nov 11, 2020 at 11:18
Patience and a well-designed trading plan will really help you avoid unwanted mistakes.
Member Since Jul 19, 2020   318 posts
Nov 14, 2020 at 11:28
Patience is the most important thing in the forex market. If you can keep patience on you while trading you will become successful for sure.
Member Since Jul 20, 2020   298 posts
Nov 17, 2020 at 02:01
I think regular meditation should be done to avoid impulsive trading. Meditation helps us to control our emotions.
Member Since Nov 09, 2020   15 posts
Nov 26, 2020 at 05:21
Being impulsive can make you lose money. Try to stay as calm as you can.
Member Since May 24, 2020   112 posts
Nov 29, 2020 at 11:56
The easiest and most reliable way to avoid impulse trading is to develop a trading plan and a good strategy.
Member Since Apr 15, 2020   219 posts
Dec 01, 2020 at 05:36
First of all a trader should be patient always, impulsive trading will lead to loss always. Set a proper goal, plan according to it. Choose a fix time, set a fix entry and exit time according to your strategy. It will reduce your impulsiveness and screen time also.
The more your practice, the more you learn.
Member Since Jul 27, 2020   81 posts
Dec 03, 2020 at 12:32
So that your trading is not impulsive, prescribe such a plan for yourself and develop discipline, then there will really be a result.
Member Since Feb 14, 2020   10 posts
Dec 10, 2020 at 13:26
Impulse trading is contrary to money management. You must strictly adhere to your trading system, and be as collected and disciplined as possible.
Member Since Aug 17, 2020   123 posts
Dec 14, 2020 at 05:38
To these three points I would add a fourth saying 'stick to your plan no matter what'. You need to trust your system and trade according to it even if some kind of impulse hits you. If you trade impulses, you lose control over your decisions. Even the best system is not worth much if you can't stick to it.
Member Since Jan 13, 2021   38 posts
Feb 03, 2021 at 08:03
The solution to a problem always lies on the surface, you just need to listen and understand how to solve it.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.