Psychology of Forex Trading
Miembro desde Dec 11, 2015
posts 1487
Jan 11, 2017 at 12:05
I don’t think that failing because of psychological pressure necessary makes a trader no better than a gambler. You can still trade based on your knowledge, rather than rely on luck, and still have your emotions get the better of you.
Miembro desde Dec 30, 2016
posts 97
Jan 13, 2017 at 08:57
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Miembro desde Dec 11, 2015
posts 1487
Jan 18, 2017 at 11:07
Monnex posted:
Forex Psychology: learn from your winning trades what you did right and why they was winning
That’s a great point. The persistent advice is to learn from one’s mistakes – and that advice is correct – but people often forget to mention to learn from one’s victories too, so they can repeat them.
Miembro desde Aug 10, 2016
posts 8
Jan 30, 2017 at 09:27
Gornix posted:
One of the main features of new traders; psychology: if you wish to go far in your trading, get ready for having first several accounts blown up. If you don't give up after it, then it is halfway of the beginning.
Old like world
Miembro desde May 04, 2012
posts 1608
Jan 30, 2017 at 10:01
Napoleon said that only 3 things are needed to win a war: 1. Money 2. Money and 3. Money.
Those traders who have trouble handling their emotions need also three things: 1. EAs 2. EAs, and 3. EAs.
If you don't believe me, first try trading on a $50k account with 100+ lots MANUALLY, then lets talk again...
Those traders who have trouble handling their emotions need also three things: 1. EAs 2. EAs, and 3. EAs.
If you don't believe me, first try trading on a $50k account with 100+ lots MANUALLY, then lets talk again...
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Feb 02, 2017 at 12:09
Monnex posted:
Forex Psychology: learn from your winning trades what you did right and why they was winning
This is really important if you want to actually learn and become a real trader. If you don’t understand why you lose or win, basically you are gambling. Winning without realizing why is pure hazard.
Accept the loss as experience
Miembro desde May 04, 2012
posts 1608
Feb 02, 2017 at 12:16
(editado Feb 02, 2017 at 12:18)
TiffanyK posted:Monnex posted:
Forex Psychology: learn from your winning trades what you did right and why they was winning
This is really important if you want to actually learn and become a real trader. If you don’t understand why you lose or win, basically you are gambling. Winning without realizing why is pure hazard.
Well, this (mostly) gambling attitude of amateur traders is what is feeding the market makers and brokers.
Practically Forex retail trading functions as a - socially more acceptable - ONLINE CASINO game for most participants.
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Miembro desde Feb 02, 2017
posts 37
Feb 03, 2017 at 07:52
A trader requires a lot of skills to be successful in the Forex markets. Trading psychology is one such aspect where you should have the ability to understand the fundamentals and effectively apply it with complete discipline. Another important aspect is to have full control on your emotions. To be a successful trader, you need to be financially as well as psychologically ready to bear the loss and avoid emotional trading.
Feb 09, 2017 at 11:10
FxMasterGuru posted:
Practically Forex retail trading functions as a - socially more acceptable - ONLINE CASINO game for most participants.
I like your comparison here but to me it is 100% applicable especially for binary options. Retail forex at least gives us some room for reasonable action based on analysis. But as you said - for the majority it is all about hazard 😄
