Trading Psychology

Psychological factor is really important from the trading point of view. As emotions when comes into play significantly affect the trading. After making successful gains in demo trading people suffer from losses in live account as while trading with real money there emotions comes into play. Therefore it is rightly said above that there is no room for emotions while trading.

jackwilliams posted:
Psychological factor is really important from the trading point of view. As emotions when comes into play significantly affect the trading. After making successful gains in demo trading people suffer from losses in live account as while trading with real money there emotions comes into play. Therefore it is rightly said above that there is no room for emotions while trading.

Unfortunately that is easier said that done. Human beings, for the most part, are very emotional, irrational creatures.

If you can build good habits from the start and not get to greedy, keep in mind what is a realistic monthly % profit, do you honestly think professional traders are not irrational? They are more irrational than you are, Its good habits they practice day in day out.

The problem is that is a pretty big 'if' for a lot of people. A lot of traders are driven by both their greed and their fear.

When I was a beginner, I never gave importance to the emotional balance in trading. This kind of negligence resulted in over trading as the days moved on. After a series of losses in my trade, I understood that being balanced in emotion is very important in trading. Keeping an emotional balance will make us think based upon logical facts rather than emotional feelings. Logic and facts are very important to make a successful trading path. It is best advised for the traders to keep themselves relaxed in both profits and losses. This kind of attitude will help to keep a stable stand in trading.

Emotion is very important. Using a demo can help but once start to trade with real money is when the emotions come to the front. It takes a lot of practice to keep them controlled

yes emotions is a big deal in this trading place , there is no way to stop this , need a proper trading discipline with good money management.

As humans, it is the most difficult task for us to keep our emotions in control. But practice and experience can help a lot.
Make it a habit to practice the strategies on the demo or micro accounts so that you can prepare yourself for the outcomes beforehand.

Control your emotion no matter what happens in the market.

Being emotional or overthinking while trading can lead to disastrous results. Regardless of the conditions of market and trade, emotions should have no place in the same.

Thanks for sharing. I agree that the way you let your mind think needs to be controlled as otherwise it will affect your actions negatively. This is something that many traders fail to do and the main reason which leads to losses. You have to be as rational and careful as you can when trading.

Your strategy should drive your investment, not your past experiences or emotions

Trading is all about being practical and calculative. Your emotions, thoughts, and fear may act as a roadblock to your success. Make sure you keep hold on to your emotions and bring your strategies in action

I tend to suppose that trading psychology is one of the main things in trading activity at all, because literally everything depends on psychology. Basically, it's the same in real life. In real life if you wake up with a goo mood and positive thoughts then your day will be great. As soon as you sit down in fron of your computer/laptop/smartphone and think of trading activity you have to set up yourself positively. If you have a bad day then think of it like about experience and setup yourself on the next day like 'today is bad, however i'm sure that tomorrow will be the great day'. In my opinion, it works like that.

Try to control your emotion in trading. Especially new traders fail to do that.

Only good trading knowledge cannot brings profit regularly. Besides trading knowledge you have to focus on money and risk management which is the key to success in Forex trading.

Forex trading is a place where we actually come to make money more but become loser ultimately , because of just emotions.  

Tradelist45 posted:
Forex trading is a place where we actually come to make money more but become loser ultimately , because of just emotions.  

Most of the traders lose their money because of their low knowledge and skills.

Davidfx89 posted:
we have to be strong psychologically if we want to bring good amount of profit , otherwise no way to survive here successfully . meditation is really supportive for strong mental health.

Exactly, meditation helps to control the trader's mindset and emotions. Research has shown that meditation tend to have a different mindset, and psychology is much stronger.