The Cold Hard Truth
"You Are You're Own Worst Enemy"
You will probably develop technical skills required in placing trades and learning money management. But you constantly end up sabotaging yourself.
What Is Trading Psychology?
Knowing when to quit and when to push
Using a stop losses
Hitting targets
Controlling greed, fear and hope
*Discipline, Discipline, Discipline!
If you want to be 10% successful FX traders then do the following: Have a trading plan and view, have money management rules, have emotional control, each trade is unique and has nothing to do with last trade, you do not revenge trade, you only trade during certain times not 24/7 & review trade results.
Do opposite of above if you are part of the FOMO traders whom do not treat Forex trading as a probability based business but as gambling.
Note: If a Forex trade is not doing what and when you want it too, then FIRE it ( get out of it), you are the BOSS.
Have a detailed trading plan. More specifically have a detailed set of money management rules within a trading plan to take control over EMOTIONS.
"You Are You're Own Worst Enemy"
You will probably develop technical skills required in placing trades and learning money management. But you constantly end up sabotaging yourself.
What Is Trading Psychology?
Knowing when to quit and when to push
Using a stop losses
Hitting targets
Controlling greed, fear and hope
*Discipline, Discipline, Discipline!
If you want to be 10% successful FX traders then do the following: Have a trading plan and view, have money management rules, have emotional control, each trade is unique and has nothing to do with last trade, you do not revenge trade, you only trade during certain times not 24/7 & review trade results.
Do opposite of above if you are part of the FOMO traders whom do not treat Forex trading as a probability based business but as gambling.
Note: If a Forex trade is not doing what and when you want it too, then FIRE it ( get out of it), you are the BOSS.
Have a detailed trading plan. More specifically have a detailed set of money management rules within a trading plan to take control over EMOTIONS.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.