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Psychology of Forex Trading

Monnexfx (Monnex)
Dec 18 2016 at 08:03
posts 56
Here we will talk about how to plan your trade and what to do before, during and after
carl54
Dec 19 2016 at 14:46
posts 4
There are many strategies which we can use while trading, but we need to know that all strategies will not work in each and every trade.
Monnexfx (Monnex)
Dec 21 2016 at 08:06
posts 56
adam4 posted:
@Monnex Well, you should give us some of those strategies. I really need them

i didn't mean strategies trading

what i need to tell you how to prepare or dealing with your own strategy

lot of people make lot of mistakes while trading if they fix it they will be profit in Forex market
Monnexfx (Monnex)
Dec 21 2016 at 08:06
posts 56
Forex Psychology: If you want to profit from your trading don't do 7 mistakes

1- Trade too much

2- Risk too much

3- Thinking too much

4- Reading too much news & analysis

5- Gambling

6- Trading without strategy

7- No money management
Monnexfx (Monnex)
Dec 21 2016 at 08:06
posts 56
Don't think that professional traders are more smart than the others but they commitment to their rules & strategy
Monnexfx (Monnex)
Dec 21 2016 at 08:22
posts 56
If there is no good signals to trade so don't risk and lose your money
PriceAction13
Dec 21 2016 at 10:02
posts 58
Monnex posted:
Here we will talk about how to plan your trade and what to do before, during and after

I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation! In addition, obviously I have a specific daily trading target that I try to fulfill, it not then I want for next session! Thus I handle my live trading!
To change your trading result, just change your thinking.
CrazyTraderfx (CrazyTrader)
Dec 21 2016 at 10:09
posts 1718
PriceAction13 posted:
Monnex posted:
Here we will talk about how to plan your trade and what to do before, during and after

I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation! In addition, obviously I have a specific daily trading target that I try to fulfill, it not then I want for next session! Thus I handle my live trading!

I have already heard about meditation before trading.
I would be interested to know what you do exactly.
your process...
Monnexfx (Monnex)
Dec 22 2016 at 09:15
posts 56
traders think emotionally that he will be millionaire from forex by investing low balance account and high risk orders

most traders open trades with no reason or good signals and no calculation of how much they will lose
naiza
Dec 22 2016 at 13:53
posts 36
Monnex posted:
traders think emotionally that he will be millionaire from forex by investing low balance account and high risk orders

most traders open trades with no reason or good signals and no calculation of how much they will lose


In this business calculation is necessary. You must draw your goal of gain but also take what can be the margin of loss to not have a bad ending.
That's trading are wisdom.
naiza
Dec 22 2016 at 13:54
posts 36
Monnex posted:
Forex Psychology: If you want to profit from your trading don't do 7 mistakes

1- Trade too much

2- Risk too much

3- Thinking too much

4- Reading too much news & analysis

5- Gambling

6- Trading without strategy

7- No money management


It seems that the theory of 'too much' is not favorable.
Mario (leopoldo)
Dec 25 2016 at 07:49
posts 41
PriceAction13 posted:
I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation!

Interesting approach and technique with meditation. I am wondering if it needs to be that long or even few minutes are enough for meditating 😄
Mario (leopoldo)
Dec 25 2016 at 07:49
posts 41
naiza posted:
It seems that the theory of 'too much' is not favorable.

What do you mean by that?
jamess2
Dec 25 2016 at 08:34
posts 29
MMM, I doubt that meditation will serve much in the Affairs of business. I.e., is in the personality of the dealer. If it is a volatile person, who does not trace its earnings targets and does not work professionally, the meditation will not help you.
FxMasterGuru (FxMasterGuru)
Dec 25 2016 at 13:19
posts 1608
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Monnexfx (Monnex)
Dec 25 2016 at 14:47
posts 56
Forex Psychology: Always think risk before reward
Monnexfx (Monnex)
Dec 25 2016 at 14:48
posts 56
Forex Psychology: Preserve your capital and don't run after ADS illusion that you will be millionaire with few dollars
Monnexfx (Monnex)
Dec 25 2016 at 14:48
posts 56
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄

depends in your EA strategy :-)
FxMasterGuru (FxMasterGuru)
Dec 25 2016 at 17:27
posts 1608
Monnex posted:
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄

depends in your EA strategy :-)

Yes, correct...

I meant it for successful manual strategies which are hard to implement - on larger investments - due to psychological factors.

I was very good at demo trading, mediocre with smaller funds and disastreous with larger investments. Moving to fully automated trading has solved all my problems. I have never looked back.
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Raj (RPatell)
Dec 27 2016 at 10:11
posts 64
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. 😄

I guess this is the case when there is no flash crash of the markets during that session. Maybe you sleep better in general but isn't it a stress with the need to update the robots settings regularly, and when they go wrong? I'm not expert on auto trading so I was just wondering about these aspects as well.
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