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Psychology of Forex Trading - page 3

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Forex Psychology: Successful trading is not the result of one trade but is a large series of winning trades
Forex Psychology: Believe in yourself, in your trading strategy and in your ability to follow it
Psychology trading has high role in trading, you may fear loss but sometime must faced loss, you maye want to making high profit but sometime loss is high,

good psychology trading will can manage money better and discipline using risk management than using emotion
The title of this thread is psychology, please stick to the topic
Forex Psychology: If there is a good signal apears don't be afraid to loose but take care of your % of risk

 Forex Psychology: Always think about risk before reward

Forex Psychology: Preserve your capital and don't run after ADS illusion that you will be millionaire with few dollars

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2016.12.26 04:49

Does Your Trading Psychology Have A Dark Side? (based on the article)

"Having worked with highly skilled traders of financial markets at a variety of money management organizations, I've noticed one distinctive marker of success: the great traders leverage one or more great strengths in their personalities and in their information processing. Those strengths differ from one exemplary money manager to another, but in each case some distinctive strength is evident."

"We recognize our strengths in our passions. It is intrinsically rewarding to exercise competencies, and so we are drawn to activities that leverage our distinctive strengths. This intrinsic interest keeps us involved in activities despite inevitable setbacks, accelerating our learning curves. It is impossible to sustain the many hours of deliberate practice needed to achieve expertise in a domain without deep, intrinsic motivation. Success results from channeling the best within us." 

Consider a few examples: 

  • "A prudent trader who avoids large drawdowns and produces superior risk-adjusted returns has difficulty taking greater risk on solid opportunities and underutilizes his or her capital."
  • "An aggressive risk taker who can pounce on meaningful market opportunities easily becomes overconfident and takes unusually large losses periodically."
  • "A trader whose passion for markets extends to preparation before and after market hours fails to notice the needs of spouse and family, creating significant tension in the home."
  • "A very disciplined trader who is excellent at following rules and processes finds it difficult to adapt to changed market conditions and continues doing what is no longer working."

Forex Psychology: If you don't have trading strategy but you have winning trades that means you are gambling and lucky for a while but at the end you will loose all your money
Forex Psychology: Be honest with yourself if you are loosing money from trading stop and find good strategy then try it on DEMO accoount
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