Psychology in trading could help you or hurt you

[Daisy]

If you're a mentally strong person with experiences in trading, then your mental control is stronger than a newbie and that could help you maintain your trades and you're less likely to sell out of fear or enter cause of greed. I guess your psych has a lot to do with your success or failure too. I try to maintain my calmness and only open trades that I strongly feel will reap me profit and I have been profitable so far. I do not get in gambler's mood at all. How about you? How good are you at staying cool and calm?

 

[gkintl]

Not all traders are born mentally strong. That was proven by Dennis in their experiment "Turtle trading" done decades before. However, if trained properly any body can become a good trader. It is all about following the system without any deviation. A lot of determination and mind control is required to succeed in trading profession. It cannot be attained overnight. Only constant practice of the same will enable a trader to achieve high level of professionalism that would assist in breaking psychological barriers.

 

[sindarin]

I am not that affected by that kind of psychologically for sure, but usually there are few desires or regretting after closed my position and still see the position is going even futher , and the profit is increasing more if only i don't close mine, i think that is my psychological problem at the moment.

 

[Daisy]

I am not that affected by that kind of psychologically for sure, but usually there are few desires or regretting after closed my position and still see the position is going even futher , and the profit is increasing more if only i don't close mine, i think that is my psychological problem at the moment.

If you 're selling prematurely then you can wait out a little longer next time. I mean when a bullish trend is strong, its very strong for like half an hour or more so you can wait out and sell when you see it reverse so you will still be able to make some decent profit. This is what I meant by newbie selling too early out of fear and losing out.

 

[budado]

If you are a newbies then you will have hard time trading as you will get emotional right away especially if you are losing. But if you are making some profit I do recommend that we spend more time trading in demo account than in real account simply because sometimes profit can happen base on luck and not on skills.

 

[Pettyeve]

Psychology management is important in our day to day trading and as a collective approach to trading. We should always have a positive thinking of what we expect in the business and where we wish to go with it. Some trade with the hope of quiting once they are able to make reasonable money while some want to build a career with it. Others trade with fear while some trade with confidence.

 

[Daisy]

I say you should give it sometimes as a newbie and you can gain better control of the trading environment and thus your profits and risks and then you will not have many erratic emotions. You will be calmer and cooler. Being in control has a lot to do with experiences so you will feel better as the months pass you by. I think to help keep things under control just stick with pairs that you understand and only open trade that look promising.

 

[amit.neogi]

If you're a mentally strong person with experiences in trading, then your mental control is stronger than a newbie and that could help you maintain your trades and you're less likely to sell out of fear or enter cause of greed. I guess your psych has a lot to do with your success or failure too. I try to maintain my calmness and only open trades that I strongly feel will reap me profit and I have been profitable so far. I do not get in gambler's mood at all. How about you? How good are you at staying cool and calm?

I thing trading should be technically and with a proper info..knowledge and experience its should nt be Psychologycaly

 

[Daisy]

What I also mean is that if you are a gambler or have impulsive problems then you will lose a lot in forex and forex might not be for you. Ideally, you should be a serious investor who learn and practice enough. I mean there are gamblers everywhere so they're full here in forex as well. Also, if you have not learn enough, it will be hard for you to lessen your fear. You will fear cause you have no idea what is going on or how your trade will turn out. An experienced trader will likely know how his trade will turn out due to knowledge and experiences. Its old to him.

 

[Decub]

If you're a mentally strong person with experiences in trading, then your mental control is stronger than a newbie and that could help you maintain your trades and you're less likely to sell out of fear or enter cause of greed. I guess your psych has a lot to do with your success or failure too. I try to maintain my calmness and only open trades that I strongly feel will reap me profit and I have been profitable so far. I do not get in gambler's mood at all. How about you? How good are you at staying cool and calm?

It is almost natural for a new trader to have so many sides to the business. I mean, he is entirely new into the system and there is the tendency that he has some different perception of how it works. An experienced trader on his own has developed some degree of strongwill to withstand the pressure.

 

[Daisy]

Therefore before a newbie is an experienced trader, he must not risk too much to avoid losses or open trade mindlessly. I know gambling and trading mindlessly can get you in trouble. If you're not mindless then you will not get in trouble. I think trading will lead you to be stronger mentally as time goes by. You can become a strong person as you gain experience and knowledge and learn from your mistakes.

 

[Pettyeve]

What I also mean is that if you are a gambler or have impulsive problems then you will lose a lot in forex and forex might not be for you. Ideally, you should be a serious investor who learn and practice enough. I mean there are gamblers everywhere so they're full here in forex as well. Also, if you have not learn enough, it will be hard for you to lessen your fear. You will fear cause you have no idea what is going on or how your trade will turn out. An experienced trader will likely know how his trade will turn out due to knowledge and experiences. Its old to him.

If someone is a gambler and tries to trade, he is thinking of one thing. How to double that money within some few times. He can only trade well when he thinks positive and with focus of the mind. A trader's pattern of thinking affects his pattern of action and if he thinks big, he acts big.

 

[amit.neogi]

If someone is a gambler and tries to trade, he is thinking of one thing. How to double that money within some few times. He can only trade well when he thinks positive and with focus of the mind. A trader's pattern of thinking affects his pattern of action and if he thinks big, he acts big.

Yeah your are right that a gambler always want to increase his money with in a minimum time but he also know this matter that its also a matter of risk but if he or she a real intellegent gambler then before investing will think about it

 

[Decub]

Therefore before a newbie is an experienced trader, he must not risk too much to avoid losses or open trade mindlessly. I know gambling and trading mindlessly can get you in trouble. If you're not mindless then you will not get in trouble. I think trading will lead you to be stronger mentally as time goes by. You can become a strong person as you gain experience and knowledge and learn from your mistakes.

In my own opinion, a newbie should see Forex from this angle; it is a place I have to learn from the scratch and only move over to practicing in the Demo account when I think I've got the time and skills to do so. After getting some practical knowledge in the Demo account, then it wouldn't hurt to try the real account with small funds and without much expectation of profits, and so it goes.

 

[willy]

yes sir any professional trader can make control on his emotions because he has high level of experience and could treat very well with all conditions of the market and he has good and trusted strategy which can make high profits with it this is what i called it the reassurance stage in forex

 

[sindarin]

If you 're selling prematurely then you can wait out a little longer next time. I mean when a bullish trend is strong, its very strong for like half an hour or more so you can wait out and sell when you see it reverse so you will still be able to make some decent profit. This is what I meant by newbie selling too early out of fear and losing out.

Yeah, but i think that is not my style anymore, right now by setting SL and TP after i open a position is effectively works for me, because i can secure my profit and can handle the risk with that way, psychology in trading could be useful for trader, and if you have a good mental yet, it is better to keep trade.

 

[kasual]

Ability to remain calm in trading help traders to conduct proper trading. Not easy to involving emotions though previously get many of loss result. Require logic approach to enabling traders analyze the market in proper way. Trade based on strategy and waiting the good moment to come.

 

[Pettyeve]

It is good that the traders should have a positive trading psychology. There is a saying that goes, what you think from your heart is what you are. Every trader in here in the forex market will want to be a very rich trader, they should try to put their mind at learning to trade well.

 

[kasual]

Understanding how to handle the pressure necessary. Traders need to manage the risk which potentially, make them remain calm in trading. Emotions not triggered easily and traders make decision based on logical approach all the time. When we know that in a business money at risk, emotions always involve. Handle it appropriately important for our own sake.

 

[pithyon]

yeah. it will help us. it is neccessary. we must control it . when i lose it i lose my money. now i have plan to control . and it is important of trader