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You need sound mind
Uczestnik z Feb 15, 2022
210 postów
Apr 07, 2022 at 04:23
Uczestnik z Feb 15, 2022
210 postów
Definitely, you should belong to a sound mind for trading. If your mind is antiquated with several doubts, you can’t trade perfectly. To develop your mind the way it should be while trading, you must arm yourself with knowledge. Don’t let this tendency go downward because it’s essential.
Uczestnik z Feb 16, 2022
113 postów
Apr 14, 2022 at 05:21
Uczestnik z Feb 16, 2022
113 postów
A Forex trader’s mind should not be antiquated with emotion, fear and other bad human qualities. Because these bad qualities work as a barrier to the Forex traders. Traders should follow risk management strategy in their trading because it is effective.
Uczestnik z Jul 20, 2020
385 postów
Apr 27, 2022 at 16:46
Uczestnik z Jul 20, 2020
385 postów
Eloise posted:
I agree! Emotions simply can't get in the way. Forex cannot be anticipated and losses are common while trading. Calm yourself and have a healthy mind while trading for that you can try meditation and proper sleep hours.
Thats the thing losses are it doesnt matter how good a trader is the market is too volatile and has too many moving parts. If we have an edge and we let the law of large numbers take over we can be profitable even with the losses
Uczestnik z Feb 15, 2022
131 postów
Apr 28, 2022 at 04:14
Uczestnik z Feb 15, 2022
131 postów
Traders need a sound and a stable mind and it should not be risk-taking. Maximum traders don’t belong to this sound mind as a result surviving in Forex has become difficult for them. Experience always helps traders in removing all the bad practices from their mind.
Uczestnik z Apr 14, 2022
32 postów
May 02, 2022 at 04:15
Uczestnik z Mar 24, 2022
56 postów
The ability to control your actions and know the right time frame to make a move is essential in forex trading as you must analyse which strategy may work and which won’t and be able to identify the right opportunity that will lead you to your goal without getting carried away by distractions. Traders must be confident and quick thinkers to slide through loss and earn profit efficiently.
Uczestnik z Apr 14, 2022
40 postów
Uczestnik z Jun 02, 2022
24 postów
Jun 16, 2022 at 11:14
Uczestnik z May 07, 2022
42 postów
lauraJohnson posted:
Having a clear and sound mind while trading in forex is very important as one should be focused while making his trades else, he may incur a huge amount of losses. Trading in forex requires a high level of judgement in decision making which is why a trader has to be in a sound mind so that he can sustain in forex.
Yes, you are right. Moreover, having a sound mind benefits you not just in trades but also in life.
Uczestnik z Jun 03, 2022
17 postów
Uczestnik z Feb 15, 2022
131 postów
Jun 29, 2022 at 04:44
Uczestnik z Feb 15, 2022
131 postów
Michihito posted:
A trader needs a sound and composed mind to trade currency. If we are not mentally stable we won't be able to make profit. We need to be emotionless during trading decision. There are traders who can do good market analysis but can't make money by trading due to psychological issues.
Absolutely, Forex is all about mental game! And there is no way to be a successful trader with an unstable mind! Psychological stability is such an important parameter here!
Jun 29, 2022 at 15:34
Uczestnik z Feb 16, 2022
65 postów
Borrowing money from banks for trading Forex is never a recommendable option. Forex is an uncertain market where anything can happen anytime. So, traders should not take such a risk that throws his lesser guarantee to payback his loan.
Uczestnik z Mar 31, 2021
222 postów
Jul 26, 2022 at 13:16
Uczestnik z Mar 31, 2021
222 postów
It is very easy to talk about emotionality. But in reality everything is much more complicated. Unfortunately it is impossible to completely turn off emotions. But they can really be reduced. Everything is in your hands, dear traders. Do not hesitate to hold back.
Think thrice before opening an order
Jul 27, 2022 at 05:16
Uczestnik z Jul 13, 2022
21 postów
Letting emotions dictate trading decisions is the biggest error any trader can make. A successful forex trader will experience numerous little loses as well as a few large profits. It's better to have a positive mindset and shouldn't feel overwhelmed with losses.
Aug 04, 2022 at 07:09
Uczestnik z May 30, 2022
27 postów
Every trader is different and they undergo several emotions. When trading forex it is important to be mentally fit else we can face severe losses. To keep emotions under check, formulate your trading strategy based on your needs and market knowledge. Identify and set up your risk levels and benchmarks on when to enter and exit. Keep revising the plan time and again to ensure you are on the right track.

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