How i control my bad habits during trading forex?

[Master Forex IB]

A trader faces many problems in trading,specially when heis new he feel difficulty in controlling of emotions.He can use Stop Loss and Take Profittolimit his targets. With low lots he canmanage his accounts well that will help him to develop expereince and confidence . More over regular practice will help to cover mistakes.

 

[Daisy]

Bad habits can be curb, just acknowledge them like an alcoholic would acknowledge his problems and then move on from there. Ok, something like this, I fx trader open way too many impulsive trades and then risk high leverage and lost one k today and have no money to pay my baby's milk bills. I do see that as a bad habit and from now on, I will only open trades that will lead to high profit and will not risk high capital and will put away some money to pay for my baby's milk cost. If you go on liking your bad habits like you like alcohol then you will run into more problems. I think its hard to let go of bad habits if we don't do it consciously.

 

[Pettyeve]

Everything can be controlled in here since we can control the amount of risks we take. Because bad habits could turn risky to both our trades and our investment, we only need to be decisive and uphold it in other to correct our bad habits. The ones like greed can be controlled by showing discipline of the mind.

 

[Decub]

But some people find it difficult to control their greed. I see this as something that is inborn in some and no matter how much they are losing, they will still be very greedy. Maybe it is something that they have grown within themselves over time or over confidence.

 

[Pettyeve]

@Decub if a trader is not being able to control his or her greed, he or she should try losing. I'm sure if you lose, you will learn to trade without greed. Whereas some people are greedy by nature, forex will teach them how to reduce it.

 

[Decub]

@Pettyeve, Guess you have a point there because losses can easily turn everything around for you. A trader who losses needs no other instructions to take precautions. Unless however, in cases where the trader is a stack gambler that is ready to throw away the money always.

 

[willy]

this is why i advice to get training with demo account with enough time no less than 6 months of training i do not say that i do not have bad habits while i am trading but now i come back to make training again to solve this problem

 

[gkintl]

But some people find it difficult to control their greed. I see this as something that is inborn in some and no matter how much they are losing, they will still be very greedy. Maybe it is something that they have grown within themselves over time or over confidence.

Invariably all human beings have some amount of greed and fear within themselves. To avoid bad habits, particularly greed, our mind should be trained to trade in a disciplined manner. Use of stop loss and take profit facilities are primarily intended for the same. As a trader gains experience, the discipline cultivated would prohibit him from falling for greed. It is a long process and cannot be achieved overnight. This is true not only for greed but for any kind of trading related bad habits.

 

[Decub]

Invariably all human beings have some amount of greed and fear within themselves. To avoid bad habits, particularly greed, our mind should be trained to trade in a disciplined manner. Use of stop loss and take profit facilities are primarily intended for the same. As a trader gains experience, the discipline cultivated would prohibit him from falling for greed. It is a long process and cannot be achieved overnight. This is true not only for greed but for any kind of trading related bad habits.

Yeah, I think to a great extent, a traders skills and experience will help him take care of a lot of things when it comes to Forex. It helps him take control of much emotions and adversaries that Forex itself brings along. Sometimes, if I see some more experience traders who display one bad emotion or the other, especially greed, I wonder if it's something that will ever stop.

 

[kasual]

In order to control our bad attitudes, we only need to keep practice to be discipline in trading. The way is by remain stick with trading strategy and risk management rules. If traders have no guidance to make them remain discipline, easy to them to do unnecessary thing in trading. Which causing them to get losses.

 

[tray]

Yes not really doubt practice make perfect when its come to forex trading because from what i know constant practice do lead to succees and hence can help control your bad habbit in forex market

 

[rexway]

yes that is very true constant practice make perfect in forex trading and from there I can assure you that ,to control your bad habit you need to follow the trend and have a trading jornal where you write down all your error and mistake in forex trading for future reference

 

[Decub]

It is something the trader has to learn how to do and in any case where he fails to learn, he learns from failure. Experience teaches us a lot of things and when we are not able to learn from it, we are bound to lose. Though emotions are part of all humans, we can't still deny the fact that they contribute a lot to our failures.

 

[UMOFX AIR]

you are right our failures and mistakes can be a good teacher for us if we are determined to do good trading. bad habits as quickness, emotional involvement, greed or risky trading can be controlled by giving special concentration on them.

 

[budado]

Its all in commitment. Are we all willing to earn in forex trading? Because if we do then we can make something good with ourselves. I'm so sure that practice is what we need to make good income. In two to three years time you will see big improvement if you trade in forex with commitment.

 

[Babar222]

I think our main bad habit in Forex is over emotion and not have good patience. We should control our emotion during our trad. If we have no control then it will be very difficult to control our losses in Forex as well.

 

[sindarin]

Controlling habit is not easy, many traders fail to do that because they don't have any dedication that makes them become a different traders. So what i means here a preservation and dedication will help you to change your bad habit. The first step you can do is make list of the bad habit you want to remove.

 

[Decub]

There are conditions of the market that makes a traders bad habit to increase. One of such is when he is either winning or losing. There are traders whose heart beat faster as they are winning. That is always the way the market works. It lies in your ability to remain discipline. Some others are those who do not take the same path with failure and for the single fact that they failed make them lose hope.

 

[budado]

Practice. That's all what we need to make good income in forex trading. Theirs nothing to control if you already know how to trade properly. Its going to be automatic to you. This is the main reason why I love to trade in forex.

 

[sindarin]

Well, i don't think also if control those bad habits will require small amount of time. It is not easy to change habit which already developed well into your trading. My suggestion is to be a persistent fellow when trying to change your habit, not easy and full with struggle but that will be worthed for you.