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.
Jan 07 2021 at 04:50
These are some very good tips for impulse traders and could even be beneficial if traders use them better. Thanks for sharing.
The solution to a problem always lies on the surface, you just need to listen and understand how to solve it.
There is no need to look for something complexity in something simple enough, you just need to be able to analyze and draw conclusions.
Kazile posted:When talking about complexity, I prefer fundamental analysis. Good and simple for someone like me who doesn't understand much about technical analysis, charts, and margin average.
There is no need to look for something complexity in something simple enough, you just need to be able to analyze and draw conclusions.
Mar 04 2021 at 05:25
Simply analyzing the economic, political, and social events that may or may not affect the currency prices of a country keeps me sorted to place my next trade. But yeah, without being modest, I do adopt a risk management strategy in case there’s a spike before the important changes.
Well weekly calendar suits me as of now. Filtering out the events depending on the expected market impact and then focusing on the currency pairs has helped me in demo trading.
Mar 05 2021 at 05:01
starmyth posted:I'd rather use oscillators to discover the short-term over bought or sold conditions. A blend of fundamental and technical analysis works out well for me and the brokers I trade with turnkey forex and IG allow me to mix them up for better trade results.
Well weekly calendar suits me as of now. Filtering out the events depending on the expected market impact and then focusing on the currency pairs has helped me in demo trading.
Money management is a very important part of trading. Profits can never be made without proper money management. I do not risk more than 2% in each trade. And I always try to trade by reducing the lot. Successful trading is not possible without money management.
Indeed, sometimes it is very difficult not to succumb to emotions, to make impulsive trading, and for this purpose create a trading plan.
Mar 11 2021 at 20:13
I think if you learn not to give in to emotions, there will be no impulsive trading
if you learn that its impossible to control at 100% your emotions.
but yes if you train your head you can avoid for sure the impulsive trading
but yes if you train your head you can avoid for sure the impulsive trading
Cordawield posted:I completely agree with you. In the forex market, Emotion is the main culprit.
I think if you learn not to give in to emotions, there will be no impulsive trading
Apr 20 2021 at 10:27
Thanks for sharing your knowledge here. It is indeed very important for a trader to not let their emotions get in the way of trading.
Make a well defined trading plan and follow it patiently. Never do revenge trading, it will lead you to more losses.
That's right, you don't need to let your emotions control you and allow you to make mistakes.
Sep 08 2021 at 22:14
Demo practice is the best solution in my opinion.
Sep 08 2021 at 22:44
Find your mistake and learn from it.
I understand that we are talking about the emotional aspect?
Sep 13 2021 at 14:28
I think it’s crucial to have a trading plan and stick to it. You might get lucky with one or two impulse trades, but it will likely lead to a blown account very quickly if that is the only method you’re using.
