Impulse Trading and How to Avoid It
Mitglied seit 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.
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.
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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
Mitglied seit 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.
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.
Mitglied seit 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.
Mitglied seit 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.
