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You need sound mind
Sep 12, 2020 at 14:31
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.
Sep 13, 2020 at 14:35
Yes mind is very important when it comes to trading. We need the ability to control our emotions. Fear and greed always control us. Most of the trades we open out of fear or greed. We need a mental discipline to control our emotions.
Sep 13, 2020 at 22:30
Trading is usually a game of psychology. If a trader is not mentally fit, he will never be able to make a profit in trading. There are many traders who have very good analysis but they cannot make a profit by trading for a long time. Because they cannot control emotions in their trading. Meditation should be done to control emotions.
Mitglied seit Jul 20, 2020
278 Posts
Sep 14, 2020 at 13:09
I completely agree with you. A trader needs a complete focus on his trading to make money from this risky market.
Mitglied seit Jul 19, 2020
283 Posts
Sep 17, 2020 at 11:07
YEs, you need a proper sound mind to concentrate on your trading and it will help you to make money from this risky market.
Mitglied seit Jul 20, 2020
278 Posts
Sep 17, 2020 at 18:44
A sound mind is very much needed to make trade perfectly. It is one of the most imp[ortant things top make money from this market.
Mitglied seit May 19, 2020
321 Posts
Jan 20, 2022 at 14:57
Trader needs to be a professional and the emotions that affect the mind during trading should be helpers, not destroyers.
@Marcellus8610
Jan 24, 2022 at 12:09
The forex trading grind can be really tedious and can rip you off of your peace. What helps me to keep my mind fresh is my lifestyle choices that are definitely not related to trading. Spending time with my family, taking breaks, paying attention to my physical and mental health helps me to stay focussed during trading sessions.
Mitglied seit Aug 10, 2021
172 Posts
Jan 24, 2022 at 13:54
Yes, you need a solid and sound mind to become perfect in forex trading. Without knowledge, it will be difficult for you to become a good trader.
Mitglied seit Apr 09, 2019
516 Posts
Jan 24, 2022 at 14:16
I don't think you are ever "perfect" in trading, regardless of strategy or mindset.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Jun 07, 2021
70 Posts
Jan 28, 2022 at 06:51
The state of mind matters a lot while trading. A person with a fresh mind can make better decisions and earn profits.
Mitglied seit Mar 16, 2021
447 Posts
Jan 31, 2022 at 14:22
GeorgeBischof posted:
YEs, you need a proper sound mind to concentrate on your trading and it will help you to make money from this risky market.
Trading risky market therefore needs to be analyzed with full attention.
Mitglied seit Jan 11, 2022
45 Posts
Feb 01, 2022 at 07:37
Doing forex trading with a sound mind and a good strategy will bring you a lot of profits. A trader should always do forex trading with a sound mind because it will affect the way you trade. It is not good to do forex trading while you are angry or sad, because emotions can affect your judgement and you won’t be in a position to make good decisions.
Mitglied seit Aug 05, 2021
394 Posts
Feb 02, 2022 at 17:54
I think a lot of us get blindsided by the emotional aspects of trading, especially since demo accounts don't really prepare you for it. Suddenly it's a lot harder to stick to your plan when real money is on the line, but it's crucial to get past that.
Mitglied seit Jul 23, 2020
816 Posts
Feb 06, 2022 at 20:16
Trading psychology reflects traders' thinking and behavior patterns. Simply put, it's about the balance of fear and greed that governs each trader's behavior and investment.
