Trading Psychology

Tradelist45 posted:

SteveHanks posted:

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.

knowledge is important , i agree but any kind of knowledge can be useless if there is no regular level of practice. so be careful guys

I agree with you, with knowledge it is important to do consistent practice as well.

Trading is a mental game; this is why I need a fresh mindset when I am trying for live trading! This habit helps me a lot to make smart decisions (even) during the confusing sessions!

Forex is a mental game! This is why, we need a neat & clean mental setup for live trading! That’s why I do meditation in everyday!

Psychology is one of the most important aspects of trading. It is the real force that drives all the trading decisions. A trader might be very good at analysis, he may see a very good opportunity in front of his eyes but can still feel powerless to do anything if his mindset is not in the right place.

Mindset and mental approach impacts everything we do, not just trading. It's so important to understand this to unlock one's potential.

Davidfx89 posted:
yes mindset is really important because without a powerful mind the result of trading can be useless in spite of having good knowledge and experience.

Those who know about human research observe how people can think. So if I can plan and control emotions, then the forex market is much easier for me. And you must always be intact in your observation.

Trading psychology is one of the most difficult things actually. Everything because traders require lots o time in order to learn how to control hi/sher emotions and never let them get you down. Of course, sometimes you will be controlled by your emotions just because you're a human and it's susceptible to you, but the real professional trader will never let emotions do it. No doubts, that you might supress emotions and then you will express it somewhere else, it's okay, because we can't supress emotions during all our life, they will come out of your body in future. So, just try to learn how to acquire this technique.

Trading pscyhology in my opinion is the most important thing, because literally everything depends on how you will set up your mood in order not to let your emotiuons get you down. It's the most difficult task and I guess traders have to be pretty attentive in case of controlling their emotions. No doubts, that it's pretty difficult to control emotions, because sometimes they really overfill you and you can't control them. It's okay, because we are human beings and the main task for us as for traders is to learn how to suppress these emotions in a way it won't affect our mental health. That's why traders have to pay more attention to such things.

Trader has to make several complex and swift trading decisions day in day out. In order to achieve this with a certain amount of accuracy, traders need good mental balance. A lot of times emotions get in the way of the trader making him deviate from his established trading plans which include predefined targets and stop losses. At times, traders end up incurring huge losses as they are unable to manage their emotions during a trade.