Impulse Trading and How to Avoid It

Aug 02, 2020 at 04:58
Vues 2,760
47 Replies
Membre depuis Apr 25, 2020   posts 119
Feb 17, 2021 at 07:12
There is no need to look for something complexity in something simple enough, you just need to be able to analyze and draw conclusions.
Membre depuis Jun 24, 2020   posts 14
Mar 03, 2021 at 09:44
Kazile posted:
There is no need to look for something complexity in something simple enough, you just need to be able to analyze and draw conclusions.
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.
Membre depuis Jun 03, 2020   posts 30
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.
Membre depuis Dec 02, 2020   posts 15
Mar 04, 2021 at 08:17
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.
Membre depuis Aug 26, 2020   posts 78
Mar 06, 2021 at 12:26
Indeed, sometimes it is very difficult not to succumb to emotions, to make impulsive trading, and for this purpose create a trading plan.
Membre depuis Nov 03, 2020   posts 65
Mar 11, 2021 at 20:13
I think if you learn not to give in to emotions, there will be no impulsive trading
Membre depuis Apr 04, 2019   posts 2
Mar 11, 2021 at 23:24 (édité Mar 11, 2021 at 23:26)
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
pedrovaleforextuga@
Membre depuis Apr 03, 2021   posts 12
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.
Membre depuis Dec 28, 2020   posts 187
Apr 21, 2021 at 07:58
Make a well defined trading plan and follow it patiently. Never do revenge trading, it will lead you to more losses.
Membre depuis May 24, 2020   posts 112
Apr 21, 2021 at 08:59
That's right, you don't need to let your emotions control you and allow you to make mistakes.
Membre depuis Jul 23, 2020   posts 869
Sep 08, 2021 at 22:14
Demo practice is the best solution in my opinion.
Membre depuis Jul 23, 2020   posts 759
Sep 08, 2021 at 22:44
Find your mistake and learn from it.
Membre depuis Aug 05, 2021   posts 401
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.
Membre depuis Mar 28, 2021   posts 617
Oct 03, 2021 at 05:30
Enough knowledge and discipline is the key to avoid impulsive trading. To open a trade, you should have enough reasons behind it. If you can't find enough reasons, don't open trade.
Membre depuis Sep 22, 2019   posts 24
Nov 25, 2021 at 10:22
I believe that impulse trading should be prohibited, because it can easily lead to unpleasant consequences such as blowing of your deposit. In my opinion, people should stay calm while trading and never let emotions take over control your mind. It's teh worst mistake, however i understand that it's pretty difficult to struggle with such situations.
Nevertheless, if you will train and practice, you will understand that impulse trading will never lead you to success. Also, you have to forget about revenge trading, you shouldn't do it, because revenge trading guarantess that you can say goodby to your money.
Membre depuis Mar 17, 2021   posts 536
Nov 26, 2021 at 18:28
Akasuki posted:
Enough knowledge and discipline is the key to avoid impulsive trading. To open a trade, you should have enough reasons behind it. If you can't find enough reasons, don't open trade.
Yes. Proper knowledge and discipline is very much needed to survive in this market.
Membre depuis Jun 22, 2022   posts 22
Jul 21, 2022 at 10:31
Impulsive trading happens mostly when we get carried away by our emotions and deviate from our original trading plan and strategy. It often leads to over-trading as well. Emotional control is very much needed to fight the urge to act upon sudden impulses. We must work on building trading discipline and strictly follow our plan while trading.
Membre depuis Jul 19, 2022   posts 22
Aug 01, 2022 at 08:03
Impulsive trading goes against sound money management. Your trading strategy must be strictly followed, and you must maintain the highest level of composure and self-control.
Membre depuis Jul 06, 2022   posts 24
Aug 01, 2022 at 10:08
From my experience, I clearly understood that emotions only interfere in trading. You always need to stick to a strategy to achieve success and do not hope for a quick result!
Patience and constant replenishment of your knowledge base is what really helps a trader.
Membre depuis Jul 19, 2022   posts 24
Aug 04, 2022 at 09:39
Impulsive trading can only be avoided by building discipline and following a professional approach while trading. Try to think if a professional trader would take up this trade when you see yourself giving into your urges and impulses while picking trades. You need to find a valid reason to justify your trading decision and control your emotions.
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