To use chat, please login.
Back to contacts

Beginners - Kill your emotions

mlawson71
Apr 21 2017 at 10:46
1487 ieraksti
In that case I agree. Obviously total newbies shouldn't invest real money, they'd just end up losing them and get scared off the market.

kieran (snapdragon1970)
Apr 21 2017 at 11:43
1944 ieraksti
If one can form good habits in demo ,like protecting capital and understanding win/loss ratios etc.they have a better grounding for live, 6 months of repeating good habits in demo logs in our long term memory.

"They mistook leverage with genius".
mlawson71
Apr 22 2017 at 12:15
1487 ieraksti
snapdragon1970 posted:
If one can form good habits in demo ,like protecting capital and understanding win/loss ratios etc.they have a better grounding for live, 6 months of repeating good habits in demo logs in our long term memory.


That's a good point. Some habits should be a second nature to a trader, and what better way to build them but from the safety of a demo account.

kieran (snapdragon1970)
Apr 22 2017 at 13:12
1944 ieraksti
mlawson71 posted:
snapdragon1970 posted:
If one can form good habits in demo ,like protecting capital and understanding win/loss ratios etc.they have a better grounding for live, 6 months of repeating good habits in demo logs in our long term memory.


That's a good point. Some habits should be a second nature to a trader, and what better way to build them but from the safety of a demo account.


Anything less than this amount of time on demo forming good habits is a waste of time, because when things go wrong short term memory kicks in then emotions take over, risking more to get back what was lost, moving stops wider and setting unrealistic targets, were we should be cutting back on risk, stop trading till we are in a calm mode and start planning recovery.

"They mistook leverage with genius".
Tssh_Nguyen
Apr 23 2017 at 06:29
5 ieraksti
PipAKazi posted:
Although this 5% stat is not entirely wrong, yet i will personally disagree to it. It just scares the new traders. If you plan on going to moon without any training, what are you expecting? but if you are trained then stats are just to scare you. This Forex is the biggest financial market, everyone can join in, everyone can earn their bread through it. But train well and you can own the whole bread factory if you know what i mean.


I think with a new trader profit is dangerous and make them delete plan, strategy. If you want success in FX market ' do everything follow plan and never think market so easy, please understood yourself before trading.

mlawson71
Apr 23 2017 at 10:54
1487 ieraksti
snapdragon1970 posted:
mlawson71 posted:
snapdragon1970 posted:
If one can form good habits in demo ,like protecting capital and understanding win/loss ratios etc.they have a better grounding for live, 6 months of repeating good habits in demo logs in our long term memory.


That's a good point. Some habits should be a second nature to a trader, and what better way to build them but from the safety of a demo account.


Anything less than this amount of time on demo forming good habits is a waste of time, because when things go wrong short term memory kicks in then emotions take over, risking more to get back what was lost, moving stops wider and setting unrealistic targets, were we should be cutting back on risk, stop trading till we are in a calm mode and start planning recovery.


I agree. However, I also think that regardless of the amount of time one has spent on a demo account, when they first start using a live account they'd still be pretty emotion until they get used to it - but the training on the demo account can help them get used to it.

kieran (snapdragon1970)
Apr 23 2017 at 18:20
1944 ieraksti
We can only keep our bets small so there is less emotional attachment until account starts growing, then move the size up but with this comes more swings, expect to lose more times than win as long as you are in control of those losses.

"They mistook leverage with genius".
kieran (snapdragon1970)
Apr 23 2017 at 18:59
1944 ieraksti
Tssh_Nguyen posted:
PipAKazi posted:
Although this 5% stat is not entirely wrong, yet i will personally disagree to it. It just scares the new traders. If you plan on going to moon without any training, what are you expecting? but if you are trained then stats are just to scare you. This Forex is the biggest financial market, everyone can join in, everyone can earn their bread through it. But train well and you can own the whole bread factory if you know what i mean.


I think with a new trader profit is dangerous and make them delete plan, strategy. If you want success in FX market ' do everything follow plan and never think market so easy, please understood yourself before trading.


That why playing poker is common on trading desks, gets you used to risk.

"They mistook leverage with genius".
mlawson71
Apr 24 2017 at 11:22
1487 ieraksti
I didn't know that was a thing, but I am not surprised. I guess it's a good way to train oneself to stay calm.

manolo82 (manolo82)
Apr 24 2017 at 13:49
8 ieraksti
Lūdzu ienāciet, lai komentētu.