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Steps to Mental Success in Trading

Aug 02, 2020 at 04:50
Vistas 2,224
54 Replies
Miembro desde Jun 21, 2020   posts 59
Aug 02, 2020 at 04:50
1. Stops – You must respect your stops. They compel you to take a minute and focus on where and why you went wrong.

2. Consistency – You must outline your strategy at the beginning and stick to it thereafter. Trust in your research and data.

3. Start small – Focus on big wins and you forget the importance of following the pattern. Over the long run, taking smaller positions will give you greater control. Then you can gradually increase your position size as your confidence grows.

4. Lifestyle – You must find a plan that fits around your lifestyle. Looking at 50 charts when you only have time for 5 is a guaranteed way
to waste time and stress. Instead, concentrate on a few very good opportunities.

5. Noise reduction – It’s all too easy to get bogged down in huge volumes of microdata. Breathe for a minute and focus your energy on the overarching picture.

6. Realistic goals – This is one of the best trading secrets. Unrealistic profit targets will quickly lead to reckless decision making. So, set yourself small and realistic goals, particularly to start with.

7. Cutting losses – Going on autopilot and getting out is essential when threatened with big losses. So, prepare mentally and visualise that emergency exit. As Bruce Kovner highlighted.

8. Learn from the best – Pick up books on developing discipline. The Disciplined Trader by Mark Douglas is a great place to start.

9. Trust yourself – Whilst chatrooms and forums can be useful, don’t allow yourself to be overly influenced. Spend too much time on them and you will quickly doubt your strategy when your capital is on the line.

10. Overall picture – Fix your bad habits and practice building that willpower in all aspects of life. You will then find staying neutral when you trade is far easier.
NO EMOTION DURING TRADING.
Miembro desde Aug 02, 2020   posts 1
Aug 02, 2020 at 08:59
Thanks!
Miembro desde Jun 21, 2020   posts 59
Aug 03, 2020 at 08:35
You are welcome, I love sharing my successful trading tips with others.
NO EMOTION DURING TRADING.
Miembro desde Jul 27, 2020   posts 102
Aug 04, 2020 at 07:34
These are very nice tips, so thank you for sharing them.
You can add one more which is about emotions, I think they are very important when it comes to trading.
Miembro desde Jun 21, 2020   posts 59
Aug 04, 2020 at 08:06
cardigan posted:
These are very nice tips, so thank you for sharing them.
You can add one more which is about emotions, I think they are very important when it comes to trading.

Yes, but if you can respect your stops, you already bit down the emotion.
NO EMOTION DURING TRADING.
Miembro desde May 14, 2019   posts 28
Aug 05, 2020 at 16:56
Actually, it's a really cool list. I think it covers the most important steps and recommendations for those who want to be the best trader. And I think that if you take them seriously and keep them in mind like all the time you enter the market, they'll really help. The hardest thing is to remember constantly if you are doing something wrong and to control your actions in the market. Good luck, everybody :)
Miembro desde Jun 21, 2020   posts 59
Aug 05, 2020 at 17:02
Buzargas posted:
Actually, it's a really cool list. I think it covers the most important steps and recommendations for those who want to be the best trader. And I think that if you take them seriously and keep them in mind like all the time you enter the market, they'll really help. The hardest thing is to remember constantly if you are doing something wrong and to control your actions in the market. Good luck, everybody :)
You are welcome Mate, Those list above keep me succeful for over 10 years.
NO EMOTION DURING TRADING.
Miembro desde Jun 09, 2020   posts 14
Aug 19, 2020 at 06:12
Being calm and knowledgeable are the stepping stones to trading success.
Miembro desde Jul 19, 2020   posts 788
Aug 25, 2020 at 01:24
Successful traders are always mentally healthy. Trading requires human well-being because if you suffer from human problems while trading, you will never become a successful trader. There have been a lot of things that have happened to me. Trading is a game of the mind and if this mind disturbs you, how to make a profit. Every trader should meditate regularly because meditation will keep you mentally fit all the time.
Miembro desde Jun 01, 2020   posts 55
Aug 25, 2020 at 07:14
AliaDare posted:
Successful traders are always mentally healthy. Trading requires human well-being because if you suffer from human problems while trading, you will never become a successful trader. There have been a lot of things that have happened to me. Trading is a game of the mind and if this mind disturbs you, how to make a profit. Every trader should meditate regularly because meditation will keep you mentally fit all the time.

I agree. They are certainly successfully because they have overcome almost all obstacles of trading like emotions, discipline,sound strategies,rules etc. That's why it is believed that if your mind is stable, success isn't far away.
Miembro desde Jul 20, 2020   posts 232
Aug 27, 2020 at 18:17
Success in the forex market mainly depends on the trading tools and techniques. If you can use those techniques properly, you can make a good amount of money.
Miembro desde Apr 15, 2020   posts 83
Aug 28, 2020 at 10:06
These tips can really help you achieve the income you want.
Miembro desde Jul 19, 2020   posts 34
Aug 28, 2020 at 11:23
If you want to become successful in this market, you have to make a plan and make a strategy. Without making a profitable plan you can not su8rvive in the forex market.
Miembro desde Jul 20, 2020   posts 298
Sep 18, 2020 at 00:04
If you want to succeed in trading, you have to learn trading first. It is never possible to make a profit without developing skills. If you trade with a positive mindset, you are less likely to lose. Trading requires a lot of information and a lot of research. And if you have to follow the plan all the time, there is a possibility of good rewards from trading.
Miembro desde Jul 20, 2020   posts 298
Sep 21, 2020 at 01:55
It is very important to have a positive mindset in trading. If the mentality is not positive, then we go from a negative view of trading. And it is never possible to make a profit with a negative view. Meditation helps to keep people's mentality positive. If you want to be successful, you have to maintain discipline and trade.
Miembro desde Jul 19, 2020   posts 318
Sep 21, 2020 at 18:15
Success in the forex market mainly depends on the strategy. So make a good strategy and earn money from this market.
Miembro desde Jul 20, 2020   posts 341
Nov 03, 2020 at 20:05
It is very much needed to keep your mind cool; when you are trading in the market. A wrong decision can put you in great danger.
Miembro desde Jul 20, 2020   posts 232
Dec 25, 2020 at 12:25
LeviSievwright5 posted:
It is very important to have a positive mindset in trading. If the mentality is not positive, then we go from a negative view of trading. And it is never possible to make a profit with a negative view. Meditation helps to keep people's mentality positive. If you want to be successful, you have to maintain discipline and trade.
Yes. positive mindset is very important. It helps you to keep calm in the critical situation.
Miembro desde Jun 23, 2020   posts 16
Dec 29, 2020 at 11:57
For a successful trading journey in forex you need to let go of the whole idea you had about forex being a good place to ameka lot of money when you joined. You should understand forex for what it is first before you even consider trading. Trading is a very good thing for you but only if you dedicate your time to it and take notice of what goes on in the market.
Miembro desde Aug 22, 2020   posts 8
Dec 29, 2020 at 12:13
For a successful trading you need to know that you are prepared to trade and the best way for anyone to do that is for them to do that is for them to start a demo account and train until they are fully prepared. It takes different times for people to be ready for forex as people learn differently and at different paces. You know yourself and so do what is right for you.
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