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Psychology of Forex Trading

Anthony Rizal (AnthonyWins)
Dec 17 2018 at 14:46
212 příspěvků
AmDiab posted:
victoriajensen posted:
I find that the Non-Farm Payrolls can be traded from time to time, but you should probably wait out the first few whipsaws before opening a position.


During the NFP it’s really difficult; but after 30-40 minutes most of the times I get trade opportunities.


Yes, it makes sense standing on the correction movements after the main fluctuations. Just like trading on the reactions of investors

FuYating
Dec 17 2018 at 15:03
11 příspěvků
The spreads are usually huge around non-farm payroll so I too prefer to stay away for at least half an hour

Imamul
Dec 18 2018 at 10:54
685 příspěvků
I have seen so many traders who are particularly beginners always try to make money without learning. as a result they become loser when trading practically. Actually success is a long time process in Forex trading that’s why we the traders first of all have to be prepared to pass a long time in this volatile trading place, otherwise there is nobody who could achieve success from here.

ElDoradoGold
Dec 19 2018 at 08:43
8 příspěvků
People think trading is easy and just start trading with a live account but then 90% lose money. it is not a surprise. Without learning you will surely fail at anything

Fannel (Faneel)
Dec 19 2018 at 08:47
11 příspěvků
As i can see, all my friends in Forex start to learn forex after big losses as well as I. So its hard to me to speak about psychology in forex. When i started it was like fast money for me. Maybe all of you see the great adverising about forex. So i was stupid and thought i'm the smartest in the world and wil be rich after a week. 😁😀😁
But now i'm not stupid and have a min losses in trading.

AniLorak
Jan 10 2019 at 05:52
920 příspěvků
Faneel posted:
As i can see, all my friends in Forex start to learn forex after big losses as well as I. So its hard to me to speak about psychology in forex. When i started it was like fast money for me. Maybe all of you see the great adverising about forex. So i was stupid and thought i'm the smartest in the world and wil be rich after a week. 😁😀😁
But now i'm not stupid and have a min losses in trading.


True; even I was started my learning process seriously after facing my 1st MC. No doubt, knowledge is the key here; and it’s a long term process (Forex learning).

NascarLover
Jan 11 2019 at 11:04
8 příspěvků
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules

Adribaasmet
Jan 13 2019 at 07:42
994 příspěvků
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


So, I guess you are a EA developer; isn’t? In addition, you have built your own trading EA; am I right?

Marcus (HyperAI)
Feb 01 2019 at 11:49
16 příspěvků
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


Unfortunately, not all traders are EA developers and for most of us, psychology is a most important thing. Thus, maybe we should follow the automatisation way of trading evolution. To do this, we should develop our EA creating tools to get an opportunity create a more and more complicated apps.

vontogr (togr)
Feb 01 2019 at 11:53
4862 příspěvků
HyperAI posted:
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


Unfortunately, not all traders are EA developers and for most of us, psychology is a most important thing. Thus, maybe we should follow the automatisation way of trading evolution. To do this, we should develop our EA creating tools to get an opportunity create a more and more complicated apps.


You can always get somebody to program it for as low as $100
Still better than wipe $1,000 account right?

ovisun
Feb 02 2019 at 14:23
436 příspěvků
togr posted:
HyperAI posted:
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


Unfortunately, not all traders are EA developers and for most of us, psychology is a most important thing. Thus, maybe we should follow the automatisation way of trading evolution. To do this, we should develop our EA creating tools to get an opportunity create a more and more complicated apps.


You can always get somebody to program it for as low as $100
Still better than wipe $1,000 account right?


You can wipe it out with an 100$ EA, no problem there...
Sorry togr, I could not abstain myself...

Jdimitrov
Feb 03 2019 at 07:25
10 příspěvků
It is better to code something yourself. I would not trust an EA that I could not understand. It is very easy to understand MQL4 coding and there are plenty of resources teaching it. Dedicate 2 weeks to learning it and it will save you years of time and thousand of dollars

AniLorak
Feb 03 2019 at 08:16
920 příspěvků
HyperAI posted:
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


Unfortunately, not all traders are EA developers and for most of us, psychology is a most important thing. Thus, maybe we should follow the automatisation way of trading evolution. To do this, we should develop our EA creating tools to get an opportunity create a more and more complicated apps.


Are you an EA developing company or anything else? Thanks in advance.

Richard Rest (Prest)
Feb 05 2019 at 12:27
43 příspěvků
Jdimitrov posted:
It is better to code something yourself. I would not trust an EA that I could not understand. It is very easy to understand MQL4 coding and there are plenty of resources teaching it. Dedicate 2 weeks to learning it and it will save you years of time and thousand of dollars


Hello. Kindly ask you to share a resourses for learning how to code an EA.

my experience is my profit
Ognjan
Feb 05 2019 at 13:28
8 příspěvků
The MQL4 and MQL5 websites have tonnes of information on coding. I think they even have a free course you take. Plenty of examples too. Coding is rather straight forward once you know the basics. I prefer to trade manually but coding has its uses for indicators and alarms

Richard Rest (Prest)
Feb 06 2019 at 12:47
43 příspěvků
Ognjan posted:
The MQL4 and MQL5 websites have tonnes of information on coding. I think they even have a free course you take. Plenty of examples too. Coding is rather straight forward once you know the basics. I prefer to trade manually but coding has its uses for indicators and alarms

I traded with EA, but I never tried to create them. It would be very profitable, to be able to create independently.

my experience is my profit
vontogr (togr)
Feb 06 2019 at 12:49
4862 příspěvků
ovisun posted:
togr posted:
HyperAI posted:
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


Unfortunately, not all traders are EA developers and for most of us, psychology is a most important thing. Thus, maybe we should follow the automatisation way of trading evolution. To do this, we should develop our EA creating tools to get an opportunity create a more and more complicated apps.


You can always get somebody to program it for as low as $100
Still better than wipe $1,000 account right?


You can wipe it out with an 100$ EA, no problem there...
Sorry togr, I could not abstain myself...


The price is not the point.
Point is that EA will execute trading plan better than any human.
EA can be backtested and optimized.
EA does not sleep nor decide based on emotion.

vontogr (togr)
Feb 06 2019 at 15:02
4862 příspěvků
AniLorak posted:
HyperAI posted:
NascarLover posted:
I try to automate all my trading to avoid psychological problems. I can then be hands off and let the EA do all the work. No emotions there. There are limitations to robots but you can ensure that there is no revenge trading or bending of the rules


Unfortunately, not all traders are EA developers and for most of us, psychology is a most important thing. Thus, maybe we should follow the automatisation way of trading evolution. To do this, we should develop our EA creating tools to get an opportunity create a more and more complicated apps.


Are you an EA developing company or anything else? Thanks in advance.


I do develop EAs that I use for trading.

NascarLover
Feb 07 2019 at 06:59
8 příspěvků
That is true but some FX strategy cannot really be programmed well with EA. It is difficult to program SR an strategy that use chart patterns / sloping trend lines. it is possible but not easy. Also, the results are less good than real trader. Obvious there are psychology factors with trading manually but overall I believe it is better

Anthony Rizal (AnthonyWins)
Feb 07 2019 at 12:05
212 příspěvků
In my opinion, EA trading and manual trading are very different in specifics and requirements for human thinking. It's hard to talk about what is better and more difficult.

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