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Steps to Mental Success in Trading
Uczestnik z Jul 20, 2020
341 postów
Dec 31, 2020 at 15:16
Uczestnik z Jul 20, 2020
341 postów
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.
Uczestnik z Dec 05, 2020
81 postów
Jan 05, 2021 at 06:44
Uczestnik z Dec 05, 2020
81 postów
ElliotCooke posted: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.
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.
Uczestnik z Oct 05, 2020
30 postów
Jan 14, 2021 at 12:21
Uczestnik z Oct 05, 2020
30 postów
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.
Jan 15, 2021 at 08:35
Uczestnik z Jun 23, 2020
34 postów
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?
Uczestnik z Oct 05, 2020
30 postów
Jan 15, 2021 at 10:50
Uczestnik z Oct 05, 2020
30 postów
davidkew posted:That’s a great tip. I’ll try meditating too. Might help me with the stress. Thanks.
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?
Uczestnik z Oct 01, 2020
49 postów
Jan 15, 2021 at 13:10
Uczestnik z Oct 01, 2020
49 postów
davidkew posted: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.
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?
Uczestnik z Oct 16, 2020
137 postów
Jan 16, 2021 at 12:04
Uczestnik z Oct 16, 2020
137 postów
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.
Uczestnik z Jan 17, 2021
31 postów
Uczestnik z Sep 13, 2018
16 postów
Jan 17, 2021 at 23:40
Uczestnik z Sep 13, 2018
16 postów
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 -
Uczestnik z Jul 19, 2020
788 postów
Jan 18, 2021 at 02:35
Uczestnik z Jul 19, 2020
788 postów
It is never possible to trade properly if the mental condition is not right. So the mentality should be fixed first.
Uczestnik z May 24, 2020
112 postów
Feb 22, 2021 at 14:28
Uczestnik z May 24, 2020
112 postów
Maximum attention and focus are very important in trading.
Uczestnik z Dec 18, 2020
13 postów
Uczestnik z Apr 04, 2018
10 postów
Uczestnik z Mar 17, 2021
536 postów
Mar 17, 2021 at 18:58
Uczestnik z Mar 17, 2021
536 postów
Fight4noob posted:If you want to become successful in the forex market, you have to make a good trading plan.
Mental work is important and can put a trader off course but it is secondary to strategy development and risk management
Uczestnik z Jul 23, 2020
869 postów
May 10, 2021 at 23:58
Uczestnik z Jul 23, 2020
869 postów
After all, it’s a mind game. So, prepare the mind and trade with the proper mindset.
Uczestnik z Nov 03, 2020
65 postów
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