Impulse Trading and How to Avoid It

LyudmilLukanov posted:
Demo practice is the best solution in my opinion.

Demo is the best platform to learn forex properly.

WaltonCharles posted:

LyudmilLukanov posted:
Demo practice is the best solution in my opinion.

Demo is the best platform to learn forex properly.

Yes. I love demo to practice my strategy.

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.

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.

This is a fairly good option for work, but it requires certain knowledge and, most importantly, the ability to work.

any emotions will be superfluous when working in trading, so you need to try to take everything calmly

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.

During the important news session, you may face high impulsive moves! So, if you are not comfortable with the high impulsive moves, then avoid the news sessions!

hi. i like your plan. you know i'm newbie and have question. what do if starting really important news and i may have profit. should i still avoid this impulse trading? is it really always should avoid impulse trading? pls explain me these.

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.

You are playing a very dangerous game if you only trade on impulse. You need to have a well-organized plan that you can adhere to. You won't expose yourself to losses by doing this.

Impulsive trading is more like emotional trading. We must always stick to our strategy and manage our emotions when we are trading. Make sure that all your decisions are backed by logic and don’t rush. Take your time to analyse the market and make rational decisions.

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.

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.

Impulsive trading makes us deviate from our original trading plan and strategy. A trader should never act upon their impulses and should always make decisions with careful consideration. It just takes a second to make the wrong decision but you may regret it for a very long time. So, please take your time and resist the urge to take up trades based on emotions and impulses.

All the traders must be very disciplined and consistent to defeat the emotions. Sticking to the trading plan is important to avoid being impulsive. Impulsive trading results in losses and to avoid that you must focus on your strategy.

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.

Impulse trading is when you make a trade without thinking it through.
The best way to avoid impulse trading is to take your time. Think about what you're doing, and why you're doing it. Ask yourself if it's the right thing to do, and if you're getting the best possible price.
If you can control your impulses, you'll be a better trader, and you'll make more money in the long run!

Impulsive trading is more like just chasing profits without an actual plan or strategy. I am pretty sure all of us must have done it at some point. We just take up random trades based on intuition without a valid reason or logic. It is like leaving our trades to our luck which is totally unprofessional and dangerous. Building trading discipline and sticking to our strategy is the only way to avoid impulsive trading. Learn to manage your emotions and think well before taking up any trade.