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You need sound mind
Участник с Jan 18, 2022
47 комментариев
Feb 07, 2022 at 10:02
Участник с Jan 18, 2022
47 комментариев
Undoubtedly! Forex trading is more of a mind game. You need to enter into the market with a practical mindset and will to consistently put in hours. Shun the idea that you will make a profitable trader in a year or two. Focus on your skills and the result will follow.
Участник с Feb 07, 2022
9 комментариев
Feb 07, 2022 at 14:27
Участник с Feb 07, 2022
9 комментариев
I always have mental test before I trade. Am I angry, sad or generally feeling emotional. If so then I do not trade
Участник с Feb 07, 2022
24 комментариев
Feb 08, 2022 at 05:33
Участник с Feb 07, 2022
24 комментариев
tatteredhope posted:
I always have mental test before I trade. Am I angry, sad or generally feeling emotional. If so then I do not trade
That's pretty nice actually! And this really needs to be practiced by everyone of us.
Участник с Dec 14, 2021
46 комментариев
Feb 10, 2022 at 04:42
Участник с Dec 14, 2021
46 комментариев
Emotions play a key role in trading because they impact trading decisions of a trader. Successful traders have full control on their emotions. They follow strict trading plans which help them stay focused during trading hours.
Участник с Jan 22, 2021
126 комментариев
Feb 10, 2022 at 07:44
Участник с Jan 22, 2021
126 комментариев
I agree! Emotions are with a traders till he lives. Removing emotion from trading is not easy. One should trade with proper strategies so that trades are based strong analysis and not on the behavior of the others.
Участник с Jul 20, 2020
385 комментариев
Feb 10, 2022 at 08:05
Участник с Jul 20, 2020
385 комментариев
Nakedize posted:
Emotions play a key role in trading because they impact trading decisions of a trader. Successful traders have full control on their emotions. They follow strict trading plans which help them stay focused during trading hours.
For sure i think the most important thing is they have strict trading plans. There will be days where we all make mistakes and we all get emotional we're human beings but if we have rules to guide us we can overcome this
Участник с Dec 14, 2021
46 комментариев
Feb 14, 2022 at 04:44
Участник с Dec 14, 2021
46 комментариев
A sound mind is the basic requirement of forex trading. Good decisions are only possible with a sound mind. A disturbed mind will always hinder a trader's ability to go the right way.
Участник с Jan 24, 2022
20 комментариев
Feb 14, 2022 at 07:37
Участник с Jan 24, 2022
20 комментариев
Nakedize posted:
A sound mind is the basic requirement of forex trading. Good decisions are only possible with a sound mind. A disturbed mind will always hinder a trader's ability to go the right way.
Agreed! I have faced many bad trades because of this. But when I started meditation, I realized that I have a better control on myself.
Участник с May 31, 2021
34 комментариев
Feb 16, 2022 at 12:19
Участник с May 31, 2021
34 комментариев
In forex trading, you need to have patience and always wait for the right time when you can place the trades.
Участник с Feb 15, 2022
210 комментариев
Feb 18, 2022 at 13:14
Участник с Feb 15, 2022
210 комментариев
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.
I agree with you! This is why, when I have a clear picture on my trading chart; only then I open my new trade position! On the other hand, when I’m focused on the chart, I just avoid that trading pair, because with a confused mind, its really hard to sustain here!
Участник с Jun 19, 2020
38 комментариев
Mar 04, 2022 at 03:57
Участник с Jun 19, 2020
38 комментариев
A trader should have a sound mind in order to make right trading decisions. Any kind of emotional imbalance can hamper the trading decision and may lead to losses.
Участник с Feb 15, 2022
210 комментариев
Mar 04, 2022 at 04:34
Участник с Feb 15, 2022
210 комментариев
You should keep your mind healthy to trade Forex nicely. This is the point which is a cause for many traders unsuccessfulness. Another point is that traders are not mentally satisfied with their earning. How much the amount is, they are not satisfied. So, it destroys their mental peace and creates anarchy in trading.
Участник с Nov 23, 2021
33 комментариев
Mar 09, 2022 at 07:56
Участник с Nov 23, 2021
33 комментариев
Superfluous posted:
Doing forex trading with a sound mind and a good strategy will bring you a lot of profits. A trader should always do forex trading with a sound mind because it will affect the way you trade. It is not good to do forex trading while you are angry or sad, because emotions can affect your judgement and you won’t be in a position to make good decisions.
That’s right, a trader who is dealing with emotional turmoil can damage his/her trade badly. Therefore, it is paramount for traders to have a sound mind while trading.
Участник с Mar 08, 2022
15 комментариев
Mar 10, 2022 at 08:43
Участник с Mar 08, 2022
15 комментариев
Sound mind is quite relevant, but as long as your judgment isn't clouded by mistake or emotions, you should be good to go for trading.
Участник с May 27, 2021
56 комментариев
Mar 10, 2022 at 10:27
Участник с May 27, 2021
56 комментариев
maria_no posted:
Sound mind is quite relevant, but as long as your judgment isn't clouded by mistake or emotions, you should be good to go for trading.
Indeed yes, a trader should always be patient and keep calm while he is placing trades, also greed should never let spoil his trading skills.
Участник с Jan 21, 2022
57 комментариев
Apr 05, 2022 at 05:19
Участник с Jan 21, 2022
57 комментариев
Marcolis posted:
You should keep your mind healthy to trade Forex nicely. This is the point which is a cause for many traders unsuccessfulness. Another point is that traders are not mentally satisfied with their earning. How much the amount is, they are not satisfied. So, it destroys their mental peace and creates anarchy in trading.
Greed is the emotion that makes traders unsatisfied. If the trading is done out of greed it pushes you to overtrade which often leads to heavy losses.
Участник с Jul 20, 2020
385 комментариев
Apr 05, 2022 at 07:04
Участник с Jul 20, 2020
385 комментариев
Gewgaw posted:Marcolis posted:
You should keep your mind healthy to trade Forex nicely. This is the point which is a cause for many traders unsuccessfulness. Another point is that traders are not mentally satisfied with their earning. How much the amount is, they are not satisfied. So, it destroys their mental peace and creates anarchy in trading.
Greed is the emotion that makes traders unsatisfied. If the trading is done out of greed it pushes you to overtrade which often leads to heavy losses.
It really is its seeing all the other people make thousands and feel you need to as well and also to push a trade when maybe you shouldnt. Once controlled it is so much better as youre more relaxed and in tune with your system
Участник с Apr 03, 2021
437 комментариев
Apr 06, 2022 at 00:22
Участник с Apr 03, 2021
437 комментариев
Emotion is the big enemy that comes to mind, if traders cant control emotion properly could lead them to make the wrong decision and resulted in bad result too, forex trading besides needing knowledge also need to build good psychological trading, this is also an important point in forex.
Участник с Mar 21, 2022
47 комментариев
Apr 06, 2022 at 07:25
Участник с Mar 21, 2022
47 комментариев
Sound mind refers to the mind that is calm and free from all kinds of negative emotions. Traders need to have a sound mind while trading for making trading decisions rationally and logically.
Участник с Mar 23, 2020
63 комментариев
Apr 06, 2022 at 11:38
Участник с Mar 23, 2020
63 комментариев
Absolutely sound mind basically signify that you are in the right mind, thus allowing you to be more perceptive when it comes to forex trading. This also allows you to throw out all the negative emotions that you have been keeping in the mind, just like the user said above

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