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You need sound mind
Členom od Feb 15, 2022
210 príspevkov
Apr 07, 2022 at 04:23
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.
Členom od Feb 16, 2022
113 príspevkov
Apr 14, 2022 at 05:21
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.
Členom od Apr 18, 2022
55 príspevkov
Apr 27, 2022 at 06:48
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.
Členom od Jul 20, 2020
385 príspevkov
Apr 27, 2022 at 16:46
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
Členom od Feb 15, 2022
131 príspevkov
Apr 28, 2022 at 04:14
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.
Členom od Sep 10, 2021
17 príspevkov
Apr 28, 2022 at 07:08
A calm mind will be able to make better/wise decisions.
Členom od Apr 14, 2022
32 príspevkov
Apr 29, 2022 at 11:42
A bad day in trading can make you feel frustrated and upset. But you need to keep your mind calm and cool as emotions can ruin your knowledge as well as skills.
Členom od Mar 24, 2022
56 príspevkov
May 02, 2022 at 04:15
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.
Členom od Apr 14, 2022
40 príspevkov
May 02, 2022 at 11:55
Of course, in order to trade forex successfully, you must have a clear mind.
I believe that while trading in forex, you must be focused, because if you lose your calm, you may incur losses.
I believe that while trading in forex, you must be focused, because if you lose your calm, you may incur losses.
Členom od Feb 20, 2021
77 príspevkov
May 12, 2022 at 04:58
Every trader’s ultimate goal is to achieve consistency in making profits. They need to have a calm and patient mind that can think of good strategies even if the market is highly volatile and stay focused and disciplined throughout.
Členom od Jun 02, 2022
24 príspevkov
Jun 16, 2022 at 10:32
Trading is a mind game; thus, to make money, you need to be aware of how you take things in control. Avoid reacting the same way the market does. Give time to analyse it and then make a decision.
Členom od May 07, 2022
42 príspevkov
Jun 16, 2022 at 11:14
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.
Členom od Jun 02, 2022
23 príspevkov
Jun 20, 2022 at 10:59
In order to become a consistently profitable trader, you need to have a clear head so that you can adapt to the market as it is and don’t set unrealistic expectations that may ruin your trades.
Členom od Jun 03, 2022
17 príspevkov
Jun 21, 2022 at 08:15
Sound mind is very important for making rational trading decisions. Market has no emotions and can wipe you out if you let any kind of negative emotion overrule you.
Členom od Jun 02, 2022
20 príspevkov
Jun 23, 2022 at 07:36
To succeed at any endeavour, one must have a well-balanced mind. Good decisions can only be made by people who have a clear head. In order to have a long and fruitful trading career, this is a prerequisite.
Členom od Feb 15, 2022
131 príspevkov
Jun 29, 2022 at 04:44
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!
Členom od Feb 16, 2022
65 príspevkov
Jun 29, 2022 at 15:34
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.
Členom od Mar 31, 2021
222 príspevkov
Jul 26, 2022 at 13:16
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
Členom od Jul 13, 2022
21 príspevkov
Jul 27, 2022 at 05:16
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.
Členom od May 30, 2022
27 príspevkov
Aug 04, 2022 at 07:09
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.
