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Steps to Mental Success in Trading
Mitglied seit Jul 23, 2020
759 Posts
Mitglied seit Jun 03, 2021
6 Posts
Jun 06, 2021 at 15:53
Mitglied seit Jun 03, 2021
6 Posts
If you study Behavioral Finance, you'd very much know how the markets just work based on traders' psychology. So it's true that it's just a mental game, but a very tough mental game! There's this thing called Loss Aversion, where the degree of unhappiness you feel when losing is much greater than the degree of happiness you feel when winning. So the tendency is for people to be very irrational when they lose (multiply their risk, withdraw all their money, etc.). Keep this in mind! You need to find the right balance between not getting excited when winning and not getting stressed out when losing. Many years of experience in trading will teach you this.
“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
Mitglied seit Mar 17, 2021
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Mitglied seit Nov 23, 2021
34 Posts
Dec 17, 2021 at 13:06
Mitglied seit Nov 23, 2021
34 Posts
Forex trading is all about making up your mind that you will lose money just the way you will make money. It won’t be possible for you to move ahead without making losses. Keep this in mind so that you don’t set unrealistic expectations and take unnecessary steps that could lead to more losses. Just make your mind and everything else will be sorted.
Mitglied seit Jun 12, 2021
132 Posts
Mitglied seit Dec 14, 2021
28 Posts
Jan 20, 2022 at 03:56
Mitglied seit Dec 14, 2021
28 Posts
Going slow but steady is the kind of effort everyone should put in for mental success in trading. Personally, whenever I set small goals and work for them, I automatically stay motivated. However, trying to take everything at once can be really overwhelming.
Feb 03, 2022 at 14:37
Mitglied seit Sep 27, 2020
11 Posts
I think that a trader shouldn’t give up. He should be persistent with his goals, but at the same time he shouldn’t be obstinate when he’s definitely doing wrong.
Secondly, he should never stop learning because trading is the thing you need to learn all the time.
You need to timely recognize your mistakes, learn from them and go ahead.
You need to control your emotions. That’s probably the most difficult thing to do but you have no choice but to take over yourself, otherwise you will not succeed in trading.
Secondly, he should never stop learning because trading is the thing you need to learn all the time.
You need to timely recognize your mistakes, learn from them and go ahead.
You need to control your emotions. That’s probably the most difficult thing to do but you have no choice but to take over yourself, otherwise you will not succeed in trading.
Mitglied seit Oct 29, 2021
70 Posts
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