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Steps to Mental Success in Trading

davidkew
Jan 15 at 08:35
34 ieraksti
Managing thoughts and keeping up with every day trading is very difficult, to be honest. I have a fixed time to meditate everyday while trading. This keeps me somewhat sane when I trade. The best thing about forex is that it’s easily manageable since the market is up and about 24 hours. These days I’ve been working on some demos and Ecn. Tried some decent platforms for it (hotforex, fxview) and I’m looking for more. Oanda seems okay and I’m thinking about opening a demo with them to check. Am I on the right track here?

mitchelstrack
Jan 15 at 10:50
30 ieraksti
davidkew posted:
Managing thoughts and keeping up with every day trading is very difficult, to be honest. I have a fixed time to meditate everyday while trading. This keeps me somewhat sane when I trade. The best thing about forex is that it’s easily manageable since the market is up and about 24 hours. These days I’ve been working on some demos and Ecn. Tried some decent platforms for it (hotforex, fxview) and I’m looking for more. Oanda seems okay and I’m thinking about opening a demo with them to check. Am I on the right track here?

That’s a great tip. I’ll try meditating too. Might help me with the stress. Thanks.

Lorencecolling
Jan 15 at 13:10
49 ieraksti
davidkew posted:
Managing thoughts and keeping up with every day trading is very difficult, to be honest. I have a fixed time to meditate everyday while trading. This keeps me somewhat sane when I trade. The best thing about forex is that it’s easily manageable since the market is up and about 24 hours. These days I’ve been working on some demos and Ecn. Tried some decent platforms for it (hotforex, fxview) and I’m looking for more. Oanda seems okay and I’m thinking about opening a demo with them to check. Am I on the right track here?

I’m not so sure about Oanda since I haven’t used them. I have some experience with Fxtm, Fxview, fxpro. I think it is more about the platform choice than the broker. I mean I am so comfortable with MT4 that I won’t look at any other platform, even for their so-called additional features. You’re right to go with demos first. It’s always better to experience an interface first hand.

78678676 (78678676)
Jan 16 at 12:04
117 ieraksti
Shelby10 posted:
My first advice is do not come into trading if you do not have patience of learning and the patience to wait for the right moment to open a trade.



Great advice. Acquiring proper knowledge does take a lot of patience and effort.

vanzadorbey (vanzadorbey)
Jan 17 at 19:38
31 ieraksti
If you use low leverage you will have all the mental health that is available to the traders.

ForexAlgoTrading (ForexAlgoTrading)
Jan 17 at 23:40
16 ieraksti
It took me 10 years to sort out my trading psychology. The first step is to just be aware of the range of emotions which you can be feeling when trading... I found the book Trading in the Zone helpful for this.
Then it's practicing.. trading with a live account and noticing these emotions and what you do next. You have you be conscious of your error and try and change your behaviour.. believe me, it's not easy.. which is why it took a decade for me!
Over the past few years, I've moved everything to algorithmic trading. I believe as an algorithmic trading you don't have to worry as much as a manual trader for trading. An algo will perform the tasks for you automatically.. opening and closing. You just need to practice not interfering with it. Hope that helps

The Future of Trading -
AliaDare
Jan 18 at 02:35
513 ieraksti
It is never possible to trade properly if the mental condition is not right. So the mentality should be fixed first.

tracepharikson55
Jan 21 at 09:44
21 ieraksti
I agree. Stops are so important and using them prevents a trader from making hasty decisions. Starting small is also a great advice.

forextrader777
Jan 29 at 12:00
80 ieraksti
Jude_craig posted:
ElliotCooke posted:
Don't trade live with huge money until you know what you are doing. Know your stuff very well. Be enough skilled. There is no short cut. It takes time to learn the art of trading. Don't have unrealistic expectation.

Its always wise to start small I would say. No point risking too much money and losing it altogether which will obviously affect a trader's motivation too. Hence better start small and gradually increase the amount.

Hey, it’s really a good piece of advice.
Thanks for sharing.

Faujinn
Jan 29 at 14:09
52 ieraksti
Coming into the atmosphere and choosing a broker Amarkets for myself, I followed the advice of experienced managers and started my trading with a minimum deposit of $ 100 and this brought results.

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