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Steps to Mental Success in Trading
Biedrs kopš
27 ieraksti
Dec 30, 2020 at 08:42
Even if you have a good strategy, a good trading plan for Lenovo will not be psychologically prepared, you will most likely have a failure.
Biedrs kopš
278 ieraksti
Dec 31, 2020 at 15:16
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.
Biedrs kopš
76 ieraksti
Jan 05, 2021 at 06:44
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.
Biedrs kopš
21 ieraksti
Jan 14, 2021 at 12:21
Not only the trading psychology but also the use of different indicators and strategies is necessary to be a successful trader. I’ve been trying my hands on some indicators with the price action strategy and learning to identify some entry/exit levels with position trading. I won’t say it is easy and the toll it takes on my mind at times but I try to stay calm in order to achieve some level of success.
Biedrs kopš
32 ieraksti
Jan 15, 2021 at 08:35
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?
Biedrs kopš
21 ieraksti
Jan 15, 2021 at 10:50
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.
Biedrs kopš
33 ieraksti
Jan 15, 2021 at 13:10
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.
Biedrs kopš
125 ieraksti
Jan 16, 2021 at 12:04
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.
Biedrs kopš
29 ieraksti
Jan 17, 2021 at 19:38
If you use low leverage you will have all the mental health that is available to the traders.
Biedrs kopš
15 ieraksti
Jan 17, 2021 at 23:40
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
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 -
Biedrs kopš
742 ieraksti
Jan 18, 2021 at 02:35
It is never possible to trade properly if the mental condition is not right. So the mentality should be fixed first.
Biedrs kopš
52 ieraksti
Jan 29, 2021 at 14:09
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.
Biedrs kopš
49 ieraksti
Feb 05, 2021 at 03:52
Trading is 90% mental work. A trader must master their trading psychology in order to become successful.
Biedrs kopš
28 ieraksti
Feb 17, 2021 at 11:00
In trading, peace of mind is highly important to make the trading functional.
Biedrs kopš
102 ieraksti
Feb 22, 2021 at 14:28
Maximum attention and focus are very important in trading.
Biedrs kopš
8 ieraksti
Mar 17, 2021 at 10:02
These are very well explained and are also pertinent for the success of a trader. Thanks for sharing these steps.
Biedrs kopš
9 ieraksti
Mar 17, 2021 at 10:51
Mental work is important and can put a trader off course but it is secondary to strategy development and risk management
Biedrs kopš
494 ieraksti
Mar 17, 2021 at 18:58
Fight4noob posted:
Mental work is important and can put a trader off course but it is secondary to strategy development and risk management
If you want to become successful in the forex market, you have to make a good trading plan.
Biedrs kopš
816 ieraksti
May 10, 2021 at 23:58
After all, it’s a mind game. So, prepare the mind and trade with the proper mindset.
Biedrs kopš
63 ieraksti
May 11, 2021 at 08:36
I can say that the psychological attitude really gives a lot
