Trading Psychology
May 20, 2016 at 07:47
Ohhh Psicology! The hardest part to learn!
My humble advice for new traders is to start with little money... bc the only way to learn how to handle your emotions and be disciplined is by blowing up a couple of accounts (and you probably will!). Its not the same with demo account, when real money is on the line and when it hurst is when you really learn. FX is marketed as an easy way to get rich overnight but it seems that the mayority of traders, especially newbies loose money.
So be disciplined and dont get greedy when you have a long winning strike! Thats what kills account. Keep your leverage low and you will be able to go to sleep at night with a loosing position opened.
Good trading!
My humble advice for new traders is to start with little money... bc the only way to learn how to handle your emotions and be disciplined is by blowing up a couple of accounts (and you probably will!). Its not the same with demo account, when real money is on the line and when it hurst is when you really learn. FX is marketed as an easy way to get rich overnight but it seems that the mayority of traders, especially newbies loose money.
So be disciplined and dont get greedy when you have a long winning strike! Thats what kills account. Keep your leverage low and you will be able to go to sleep at night with a loosing position opened.
Good trading!
Member Since Dec 11, 2015
1487 posts
May 24, 2016 at 09:41
Unfortunately reigning in your emotions is usually one of the hardest things to learn about Forex trading. You can learn the theory, you can even learn how to apply it in practise, but if your judgement is clowded by greed or fear you still will struggle to make a profit.
Nov 17, 2016 at 13:59
Timeframes simply need to match the personality of the trader. If they reflect your emotional status - all fine. If you feel comfortable with M1 charts - trade on them. When it comes to stop losses, I would mention that a trailing stop could work even better.
Nov 22, 2016 at 13:59
martinkolbe posted:
Timeframes simply need to match the personality of the trader. If they reflect your emotional status - all fine. If you feel comfortable with M1 charts - trade on them. When it comes to stop losses, I would mention that a trailing stop could work even better.
Good points Martin! I agree with you 😄
Nov 22, 2016 at 13:59
MartimAlmeid posted:
I try different indicators and when all are presenting the same signal I open my position! sometimes the indicators show different signs so I just wait! 😀
Very good advice! I always try to do the same. What indicators do you use for identifying the signals and make the decision?
Member Since Dec 11, 2015
1487 posts
Nov 23, 2016 at 12:26
martinkolbe posted:
Timeframes simply need to match the personality of the trader. If they reflect your emotional status - all fine. If you feel comfortable with M1 charts - trade on them. When it comes to stop losses, I would mention that a trailing stop could work even better.
You're right. In the end what matters the most is what strategy fits the individual trader. If something is profitable for you, by all means, stick to it.
Nov 23, 2016 at 13:09
deresel posted:
Key levels to watch for:
Support: 1.1309; 1.1270;
Resistance: 1.1492; 1.1540.
Good post but I would suggest you join the dedicated discussion for the EURUSD pair sharing your technical analysis as here the topic is different.
Trade fast, learn fast, never regret!
Member Since Mar 31, 2015
45 posts
Nov 30, 2016 at 15:48
snapdragon1970 posted:
If your scalping on 1min time frames your moving in and out of positions quickly on your experience and skills not on a strategy.
I just what to add that choosing the trading style is part of the strategic decisions everyone of us make. Scalping is just very short-term oriented.
Dec 05, 2016 at 14:43
mlawson71 posted:martinkolbe posted:
Timeframes simply need to match the personality of the trader. If they reflect your emotional status - all fine. If you feel comfortable with M1 charts - trade on them. When it comes to stop losses, I would mention that a trailing stop could work even better.
You're right. In the end what matters the most is what strategy fits the individual trader. If something is profitable for you, by all means, stick to it.
Yes, this is a the golden rule to follow!
Member Since Mar 31, 2015
45 posts
Dec 06, 2016 at 13:35
martinkolbe posted:mlawson71 posted:martinkolbe posted:
Timeframes simply need to match the personality of the trader. If they reflect your emotional status - all fine. If you feel comfortable with M1 charts - trade on them. When it comes to stop losses, I would mention that a trailing stop could work even better.
You're right. In the end what matters the most is what strategy fits the individual trader. If something is profitable for you, by all means, stick to it.
Yes, this is a the golden rule to follow!
That's for sure! 😄
Richard Bills (RichardBills)
Member Since Mar 25, 2015
74 posts
Dec 08, 2016 at 13:59
martinkolbe posted:
Timeframes simply need to match the personality of the trader. If they reflect your emotional status - all fine. If you feel comfortable with M1 charts - trade on them. When it comes to stop losses, I would mention that a trailing stop could work even better.
Good point Martin, I agree with you about that.
Dec 09, 2016 at 09:21
mlawson71 posted:
Unfortunately reigning in your emotions is usually one of the hardest things to learn about Forex trading. You can learn the theory, you can even learn how to apply it in practise, but if your judgement is clowded by greed or fear you still will struggle to make a profit.
Did you managed to take control of the emotions after all? Or still learning how to do it?
Trade with determination!
jhonix
Member Since Dec 06, 2016
37 posts
Feb 26, 2017 at 06:57
The psychological factor is a very important reason for the success and failure of the trader. By having a clear trading strategy and being able to accurately analyze the market, most traders record losses due to the inability to control their emotions.
proyecto
Member Since Oct 31, 2016
36 posts
Feb 27, 2017 at 19:22
I think there really is no room for emotions or personal feelings when it comes to Forex trading. Make sure that as a trader, you stay completely objective and scientific or else we might see some very heavy losses. Now, the big question is how to control your personal emotions and keep them out of the bargain?
jhonix
Member Since Dec 06, 2016
37 posts
Feb 27, 2017 at 20:02
I think the answer would be a negotiation technique. Make one for yourself and stick to it, no matter what.
However observe the market movements, both from the fundamental and technical point of view, and if something does not look good to you, do not trade, it is as simple as that. Trade is never against the trend, always remember 'the trend is your friend'. If you experience a loss, do not try to overcompensate on your next trade, stick to the plan.
However observe the market movements, both from the fundamental and technical point of view, and if something does not look good to you, do not trade, it is as simple as that. Trade is never against the trend, always remember 'the trend is your friend'. If you experience a loss, do not try to overcompensate on your next trade, stick to the plan.
oscarbc
Member Since Oct 21, 2016
9 posts
Mar 26, 2017 at 07:32
You will not be able to become a successful trader until you are ready for both wins and losses. Both are inseparable and important parts of the trading process. On the way to learning the art of trading, you can often find bribers. When the trader focuses on problems (there may be a multitude of problems, for example lack of means, resources and knowledge), he feels anger, guilt, disappointment and dissatisfaction. But such an emotional state will not allow you to move forward. If the loss is unacceptable to the trader, he will not be able to close the position he loses. When the trader is not prepared to face losses, in general, they occur more.
Member Since Dec 11, 2015
1487 posts
Mar 27, 2017 at 11:57
proyecto posted:
I think there really is no room for emotions or personal feelings when it comes to Forex trading. Make sure that as a trader, you stay completely objective and scientific or else we might see some very heavy losses. Now, the big question is how to control your personal emotions and keep them out of the bargain?
If you find the answer to that question, please share it, because after years of trading occasionally I still feel as anxious as when I was first starting.
