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You need sound mind

Sep 12, 2020 at 14:31
2,151 zobrazení
65 Replies
Členem od Mar 23, 2020   63 příspěvků
Apr 06, 2022 at 11:38
Absolutely sound mind basically signify that you are in the right mind, thus allowing you to be more perceptive when it comes to forex trading. This also allows you to throw out all the negative emotions that you have been keeping in the mind, just like the user said above
Členem od Feb 15, 2022   219 příspěvků
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.
Členem od Feb 16, 2022   119 příspěvků
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.
Členem od Apr 18, 2022   51 příspěvků
Apr 27, 2022 at 06:48
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.
Členem od Jul 20, 2020   399 příspěvků
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
Členem od Feb 15, 2022   183 příspěvků
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.
Členem od Sep 10, 2021   20 příspěvků
Apr 28, 2022 at 07:08
A calm mind will be able to make better/wise decisions.
Členem od Apr 14, 2022   32 příspěvků
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.
Členem od Mar 24, 2022   56 příspěvků
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.
Členem od Apr 14, 2022   34 příspěvků
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.
Členem od Feb 20, 2021   78 příspěvků
May 12, 2022 at 04:58
Every trader’s ultimate goal is to achieve consistency in making profits. They need to have a calm and patient mind that can think of good strategies even if the market is highly volatile and stay focused and disciplined throughout.
Členem od Jun 02, 2022   24 příspěvků
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.
Členem od May 07, 2022   40 příspěvků
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.
Členem od Jun 02, 2022   23 příspěvků
Jun 20, 2022 at 10:59
In order to become a consistently profitable trader, you need to have a clear head so that you can adapt to the market as it is and don’t set unrealistic expectations that may ruin your trades.
Členem od Jun 03, 2022   17 příspěvků
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.
Členem od Jun 02, 2022   20 příspěvků
Jun 23, 2022 at 07:36
To succeed at any endeavour, one must have a well-balanced mind. Good decisions can only be made by people who have a clear head. In order to have a long and fruitful trading career, this is a prerequisite.
Členem od Feb 15, 2022   183 příspěvků
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!
Členem od Feb 16, 2022   67 příspěvků
Jun 29, 2022 at 15:34
Borrowing money from banks for trading Forex is never a recommendable option. Forex is an uncertain market where anything can happen anytime. So, traders should not take such a risk that throws his lesser guarantee to payback his loan.
Členem od Jun 16, 2021   111 příspěvků
Jul 05, 2022 at 05:50
No doubt, trading without a sound mind is a recipe for disaster. When traders forget to use their mind in the right way while trading, they get to pay for it in the form of money that they lose, never to be recovered again.
Členem od Mar 31, 2021   221 příspěvků
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
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