Psychology of Forex Trading

edinson posted:

MC85 posted:

Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade

Or also maybe don't feel sad about the missed opportunity.

Well, you should not be depressed, but the missed opportunity is missed opportunity. He will not be back ..

For sure there will be missed opportunities but professional trader don't open positions for every signal trade he saw 😄

jhonix posted:

edinson posted:

MC85 posted:

Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade

Or also maybe don't feel sad about the missed opportunity.

Well, you should not be depressed, but the missed opportunity is missed opportunity. He will not be back ..

Exact.😄

Also be aware of being disciplined.
Build your own plan and respect it to the end. To operate is not only to take a position, but also to have a valid reason for which losing position that has already crossed its limit of loss. It is possible that in some cases this will prove to be positive. However, if it does not turn out, the loss can be significant. Respect your plan and be disciplined.

i liked the word RESPECT your plan, its very important 😉

That's one way of putting it. Respect your plan, respect the effort you've put into it, and the risk you're exposing yourself to if you don't follow your plan.

Monnex posted:

jhonix posted:

edinson posted:

MC85 posted:

Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade

Or also maybe don't feel sad about the missed opportunity.

Well, you should not be depressed, but the missed opportunity is missed opportunity. He will not be back ..

Exact.😄

Also be aware of being disciplined.
Build your own plan and respect it to the end. To operate is not only to take a position, but also to have a valid reason for which losing position that has already crossed its limit of loss. It is possible that in some cases this will prove to be positive. However, if it does not turn out, the loss can be significant. Respect your plan and be disciplined.

i liked the word RESPECT your plan, its very important 😉

Yes of course..!😉
I also believe that being disciplined facilitates the way, makes you constant and master those unnecessary impulses that hinder what you want to achieve. Simply because discipline is a powerful tool.

Learn to see faults not as problems, but rather as useful information to get to know yourself better. Maybe, at the end of the day, it will be possible to find out who you really are. Just remember that nobody is perfect.

jhonix posted:
Learn to see faults not as problems, but rather as useful information to get to know yourself better. Maybe, at the end of the day, it will be possible to find out who you really are. Just remember that nobody is perfect.

Good point..!
There is a phrase that says, 'No one is perfect, we all make mistakes, but we must learn from them not to commit them again. '

Forex Psychology: The Power of NO, Don't Trade when (NO Plan - NO Strategy - NO Risk Management - NO Signals)

@Monnex Excellent advice, is the best way to keep our money safe. Do not trade when circumstances are not in favor.

Monnex posted:
Forex Psychology: The Power of NO, Don't Trade when (NO Plan - NO Strategy - NO Risk Management - NO Signals)

I agree with you! .. good point.

Also patience is key to success in trading. Without it, you will quickly find yourself losing money. It is better to operate when you are sure !.

jhonix posted:

edinson posted:

MC85 posted:

Monnex posted:
Forex Psychology: Don't feel excited from unrealized winning trade

Or also maybe don't feel sad about the missed opportunity.

Well, you should not be depressed, but the missed opportunity is missed opportunity. He will not be back ..

Exact.😄

Also be aware of being disciplined.
Build your own plan and respect it to the end. To operate is not only to take a position, but also to have a valid reason for which losing position that has already crossed its limit of loss. It is possible that in some cases this will prove to be positive. However, if it does not turn out, the loss can be significant. Respect your plan and be disciplined.

Of course.
A plan is vital to the success of your business. Without a plan, even the best intentions can not be realized. You should plan the work and then work out the plan, or your goals will not be achieved.

fellipefx posted:

jhonix posted:
Learn to see faults not as problems, but rather as useful information to get to know yourself better. Maybe, at the end of the day, it will be possible to find out who you really are. Just remember that nobody is perfect.

Good point..!
There is a phrase that says, 'No one is perfect, we all make mistakes, but we must learn from them not to commit them again. '

I agree with you..
It all boils down to your mental integrity, and the ability to keep following the rules under pressure. No one is perfect, even the best traders 'paint off the edges' sometimes, and need some good psychological tutoring to regain concentration.

km113 posted:
I think you're much more likely to feel calm under pressure if you trust your plan. If a strategy has not been tested enough, you may be left with doubts that would lead you to fear.
Although traders are scared to suffer losses, so they close their positions before they can generate profits. It is also possible that a person frightened by their current losses holds open a losing position in the hope that the market will change in their favor.

Yeah i'm too agree with you
More successful of winning trades give more confidence to the trader to his strategy and he will be more calm to take decisions.

 

km113 posted:
I think you're much more likely to feel calm under pressure if you trust your plan. If a strategy has not been tested enough, you may be left with doubts that would lead you to fear.
Although traders are scared to suffer losses, so they close their positions before they can generate profits. It is also possible that a person frightened by their current losses holds open a losing position in the hope that the market will change in their favor.

well you can avoid feeling under pressure by using expert advisors

km113 posted:
I think you're much more likely to feel calm under pressure if you trust your plan. If a strategy has not been tested enough, you may be left with doubts that would lead you to fear.
Although traders are scared to suffer losses, so they close their positions before they can generate profits. It is also possible that a person frightened by their current losses holds open a losing position in the hope that the market will change in their favor.

Or to keep self-control at all the time when you trade. :)

One way I see most traders lose also is the part of trading someone else's funds. o tend to make more emotional mistakes then than most times.

Have patience .. Among the tricks and most important Forex tips you can follow is patience. 'Rome was not made in a day' and this is also true for trading, be patient and wait for the market to show good opportunities, sometimes they just will not be there, so you have to wait.

No matter how good your strategy, the other factor that will always influence your results are your own emotions. After all, it is the emotions that move the markets. Most of our indicators are designed to give us a measure of our emotions. And in order to gain profits from the market movements created by the emotions of others, you must first learn to read the mood behind the movement, and also how to recognize and control your own.

It is possible to get average earnings from Forex trading while there are some who have managed to obtain a fluidity and financial freedom from the trading platforms, anyway reaching that point requires absolute dedication to the cause, so the first Advice would be to try to achieve some kind of gain at first, remember not to walk before learning to crawl.

One of the driving forces, which makes him participate in the work of speculative financial markets, is the possibility of earning 'easy money,' or directly-coveting. The result of greedy action is the motication to make transactions.
One can distinguish between two types of motivations:

Rational motivation - is expressed through cold prudence in making decisions about how to operate.
Irrational motivation - is expressed through the passion of the player; Are slaves of their emotions and are almost doomed to lose.