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Psychology of Forex Trading

Vozil559
May 28 2019 at 06:04
18 príspevkov
Understanding trading psychology is very important, and it helps one to be successful as a trader. In my opinion, greed, fear and impatience are the most stubborn emotions that make most traders to fail. One should learn to separate emotions from trading activities, or use positive emotions for successful results

whitero
May 29 2019 at 11:03
7 príspevkov
what most traders fear is loss, which is inevitable while trading. so why not, let go of it and focus on how to increase the accuracy of trades.

AmDiab
May 29 2019 at 11:56
718 príspevkov
whitero posted:
what most traders fear is loss, which is inevitable while trading. so why not, let go of it and focus on how to increase the accuracy of trades.


It’s because they opened their live trading too early! When you have 5K-6K trades experience, then you must know your strength and weakness of trading.

whitero
May 30 2019 at 11:06
7 príspevkov
AmDiab posted:
whitero posted:
what most traders fear is loss, which is inevitable while trading. so why not, let go of it and focus on how to increase the accuracy of trades.


It’s because they opened their live trading too early! When you have 5K-6K trades experience, then you must know your strength and weakness of trading.

true, when i started i was backed by 6 months of demo trading and a set a side cash, which i had no fear of losing.

Anthony Rizal (AnthonyWins)
May 30 2019 at 11:06
212 príspevkov
Traders, especially those who have already felt the taste of victory and the severity of loss, know that the market can exert psychological pressure on the trader. The market forces the trader to be in an imbalance.
The trader must find an opportunity not to lose balance between mind and emotions.

The market can be considered as a destabilizing factor.
Trader - as an equilibrium system.
Trading psychology - as a way to find vulnerabilities in balance and prevent them.

- from my blog post

AniLorak
May 31 2019 at 16:00
920 príspevkov
This is why, I don’t allowing my balance & equity on my trading chart; because I feel extra pressure when I see my balance increasing or decreasing because of my live running trades!

willtradr
Jul 24 2019 at 09:47
26 príspevkov
The first thing one can do is make a list of trading rules which will guide you how to trade,when you should enter or exit and how much you should risk. Just having rules isn’t enough write them down on a trading journal. Now visualize yourself following your rules. For instance,imagine that you have an open position,now think of all the different price action scenarios you may encounter and imagine how you would adjust your position in these situations. At the end of the day,review your trading. Grade yourself and make it a point to work on your weaknesses. By reviewing your trading,you will be able to see whether your rules are effective or not.

smith_fx
Jul 25 2019 at 11:37
33 príspevkov
Improving your forex trading psychology will require patience and lots of practice. Never lose hope .Read a lot of articles and books on trading. Learn to be disciplined and avoid emotional trading. Only when your trading psychology will improve you will be able to generate more profits.

quantumforex
Jul 26 2019 at 20:38
5 príspevkov
The human nature by itself is hard to battle. We are born with DNA to fight or flight, to fear loses more than appreciate victory. This is obvious for the people when living in the caves, even helps today, but in trading it can only kill performance. The biggest obstacle when we fight the markets is our nature to pray for our losers and to cut our wining trades quickly - exactly the opposite to what every wining trader should do - cut losses quickly and let profits run.

To overcome these obstacles there are two approaches, each with their problems. First is to use mechanical system and follow the rules strictly, second is to have only SL/TP rules and select the entries manually, but both approaches are kind of rigid and are suboptimal. Unfortunately to trade totally discretionary and profitably is possible only for highly skilled traders.

AniLorak
Jul 28 2019 at 08:38
920 príspevkov
quantumforex posted:
The human nature by itself is hard to battle. We are born with DNA to fight or flight, to fear loses more than appreciate victory. This is obvious for the people when living in the caves, even helps today, but in trading it can only kill performance. The biggest obstacle when we fight the markets is our nature to pray for our losers and to cut our wining trades quickly - exactly the opposite to what every wining trader should do - cut losses quickly and let profits run.

To overcome these obstacles there are two approaches, each with their problems. First is to use mechanical system and follow the rules strictly, second is to have only SL/TP rules and select the entries manually, but both approaches are kind of rigid and are suboptimal. Unfortunately to trade totally discretionary and profitably is possible only for highly skilled traders.


I think, in this case: meditation can play a very big role! I always do meditation before opening my trading chart & it helps me a lot!

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