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Psychological barriers to success in forex trading

Discussion in 'Beginners Forum' started by gkintl, Dec 15, 2013.

  1. gkintl

    gkintl

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    Even though most traders can predict the price movement accurately, yet the success rate is very low. This is because of the psychological barriers that needs to be removed in ones mind to avoid mistakes while trading. These barriers are
    a. Losing focus
    b. Hesitation to enter when opportunity presents itself
    c. Inconsistency in implementing a tested strategy
    d. Remembering personal obligations while trading

    If a trader can avoid such psychological barriers, trading will be a simple process. However training our mind to perfection is not an easy job. So much of determination is required to avoid the above mentioned pitfalls. Have you overcome those hurdles as a trader?
     
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  3. UMOFX AIR

    UMOFX AIR

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    Hesitation to face market is a big barrier in forex trading. Forex not only a risky business where people loose with their greed here they also loose with fear when they mostly close trades at low loss. then excitement and aggression are other emotions that effect trading.
     
  4. Decub

    Decub

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    I see Forex as one business that confidence plays a great role. It is not as if a trader is deemed successful when he is confident but a place where the majority of what the trader requires centers around confidence. It is one thing that is not negotiable. It gives you a positive mindset, works on your psychology and position you to perform better.
     
  5. kaiceaziz

    kaiceaziz

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    The biggest barriers that face every trader is greed and fear and that is caused by less knowledge and experience. So I do believe that psychological barriers are related in a way or another to your level of education in forex business.
     
  6. Pettyeve

    Pettyeve

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    @gkintl your points are good. Those things affect so any traders in the forex market and will make them to lose focus. It is mostly the newbie traders that suffer from these types of things. It is good that any trader will be learning how to control his or her psychology.
     
  7. Gorbacev

    Gorbacev

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    The average successful traders who have psychological condition capable of controlling himself into a positive thing, with a State, then the trader will be maximized without thinking influenced the psychological pressure
     
  8. radex78

    radex78

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    In forex business about psychology is very much important, so many trader decision because based on psychological factor like as if look floating profit they become greedy, and if look floating loss they become fear, and sometime thet change decision on early plan and closed order before hit target or stop loss
     
  9. Irina

    Irina

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    Psychological play an important role in the conduct of a trader in the forex trading activity, which if successfully control the psychological pressure of the trader will tend to think logically and able to maximize his ability in forex or CFD trading
     
  10. William

    William

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    Any trader should experience the fear before opening first real money deal. And after that it's important not to get emotional and start opening hasty deals where you can lose a lot of money.
     
  11. radex78

    radex78

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    Emotion on trading usually only will leading trader to become failure because on trading forex is apply, work with what we see and not we think, sometime we on trap our minds if we sure making accurate analysis but in fact if the trend against order and we not do cut loss it will endanger account usually
     
  12. Irina

    Irina

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    Psychological conditions greatly affect the ability of traders to think the best analysis and accurate, due to the condition of thinking not maximum or even not able to think objectively when the psychological pressure is not able to be controlled in the direction of positive, by so traders will tend to make emotional decisions
     
  13. Faal

    Faal

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    You may notice, almost all of new traders are loser! Know why? Because they have no idea about sentimental analysis and they don’t take care about the money management policies as well as risk management policies!
     
  14. Lee Mark

    Lee Mark

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    Forex is a mental game; a cool mentality is needed here! Like, so many false breakout and reversal patterns are available, so without enough determination it’s very easy to lose traders momentum!
     
  15. raniya

    raniya

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    Traders must have good trading psychology. It can be honed since we use real account. Demo account teach us how to trade, it's just basics of forex trading. That's why we should start trading with small amount first in real account. With FXB Trading ,, trader can start with 25 USD
     
  16. Grinder

    Grinder

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    I think doubts when making decisions is one of the biggets obstacles.
     
  17. Gorbacev

    Gorbacev

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    The psychology of traders usually determine the maximum capability or whether in the process data to create a trading strategy, even psychologically unstable trader can be made trading be destroyed
     
  18. Changer

    Changer

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    I haven't had any psychological struggles or problems when trading. I think it's just a way not to take blame after you've lost money.
     
    mlawson71 likes this.
  19. radex78

    radex78

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    Losing money also as part on trading where as trader will possible facing with loss because they can't control the market, not always as trader able analyze the trend market perfectly and precisely, about psychology trading has high role to implemented their trading system
     
  20. Max Trade

    Max Trade

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    Actually scalping success depends on most lowest trading spreads which is really supportive to make profit with certainly by using any kinds of trading strategies in particularly scalping that brings profit in a short time.
     
  21. Irina

    Irina

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    Secure psychological affect the behavior of traders in trading, this became a problem, because with a good psychological and unrestrained behavior then trading would also be good, trust follow trading plan