LRdude Posted September 18, 2011 Share Posted September 18, 2011 http://www.youtube.com/watch?v=Frb88uMX--c&feature=related This is more about discipline and psychology of trading..top ten mistakes traders make sooner or later when trading Quote Link to comment Share on other sites More sharing options...
wasi90lkv1 Posted September 22, 2011 Share Posted September 22, 2011 "trading with emotions" - i think this is a very good reason why a forex trader may lose money. you need to do forex trading with a very sound mind. if you lose a few forex trades, take a break and resume trading later. Quote Link to comment Share on other sites More sharing options...
yogeshwartyagi Posted September 24, 2011 Share Posted September 24, 2011 Yeah this is right we should put emotions away while entering in trade, and also should stick with the strategy until there is a news which require a change, also it is better to trade in the direction of trend and avoid chasing current trend, be prepared to bear losses that may happen in case the stop loss triggers - yes a strict stop loss is a must. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted September 25, 2011 Share Posted September 25, 2011 How emotions affect the forex trading. Is it like if they found good profit then they are excited to have position and made closed the order but with few profit? Or the strategy and the mindset will be the effective way in forex. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 15, 2012 Share Posted January 15, 2012 The advice that traders should control their emotion while trading has been often repeated but this is really difficult to do. If you have the opportunity to earn more, why not get it? You will also feel bad when you know that you could have earned more. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted January 16, 2012 Share Posted January 16, 2012 Yes, the only question now is how we are going to do it since it is not easy to manipulate or control our emotions. As we trade these emotions will continuously exist so how and what will need to do specifically. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 18, 2012 Share Posted January 18, 2012 I think, in the early periods of the career of a trader, he/she will not be able to succeed in controlling his/her emotions. It will take time. You have to know what emotions are you dealing with and check yourself on how to combat these emotions. The technique that can be successful to one person may not be successful in other persons. Quote Link to comment Share on other sites More sharing options...
ermaniso2011 Posted January 21, 2012 Share Posted January 21, 2012 l think the biggest problem is giving wrong decision when open a trade and not accept the mistake as naturally human dont like to be called failt.so the traders are loosing control over themself and getting slave of the forex.and forex will not let him or her go until the balance will not turn in zero :)we have to repeat and repeat every day forex is not gambling or a game it is pure business. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 24, 2012 Share Posted January 24, 2012 Yeah, being stubborn will also make a trader fail and fail big time in Forex trading. A trader will not accept that his strategy is not working out well and he/she will still insist on going on with his/her trading. Quote Link to comment Share on other sites More sharing options...
budado Posted January 24, 2012 Share Posted January 24, 2012 Yeah, being stubborn will also make a trader fail and fail big time in Forex trading. A trader will not accept that his strategy is not working out well and he/she will still insist on going on with his/her trading. I do agree. I think its stubborness and not doing feasible study that really make you loss money in forex trading. Right now I use scalping, hedging and nake trade strategy and I only use USD/CAD. But guess what. In order for my strategy to work with only 0.05 lots in buy and 0.05 lots in sell. I need to have at least 2,000 dollars and 4,000 dollars if I want to be comfortable in forex trading using my strategy. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 2, 2012 Share Posted February 2, 2012 I do agree. I think its stubborness and not doing feasible study that really make you loss money in forex trading. Right now I use scalping, hedging and nake trade strategy and I only use USD/CAD. But guess what. In order for my strategy to work with only 0.05 lots in buy and 0.05 lots in sell. I need to have at least 2,000 dollars and 4,000 dollars if I want to be comfortable in forex trading using my strategy. Those are very big capitals already. Maybe, you can do with small capital at the start and lesser profit. If your strategy is really good, you can just add up to it every time you win in a trade. There will come a time when this capital will grow. And that is, again, provided your strategy has a winning probability. Quote Link to comment Share on other sites More sharing options...
budado Posted March 6, 2012 Share Posted March 6, 2012 Those are very big capitals already. Maybe, you can do with small capital at the start and lesser profit. If your strategy is really good, you can just add up to it every time you win in a trade. There will come a time when this capital will grow. And that is, again, provided your strategy has a winning probability. If you check money management we can only use 2% of our trade. that's why I come up with that amount. Just to make sure that I can last six months. I though its high amount if you only thinking of daily trading. But if you make one or ten loses do you think your funds can still survive? Do you think you can sustain your trade long term? that's why its important to have long term strategy so that you can map your progress. Quote Link to comment Share on other sites More sharing options...
yenney611 Posted March 9, 2012 Share Posted March 9, 2012 yeah, we have to set aside our emotions in trading. we cannot combine together business and personal problems because we know for sure that it wont bring any good to us and the tendency that we will loose all what we have been working. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted March 9, 2012 Share Posted March 9, 2012 yeah, we have to set aside our emotions in trading. we cannot combine together business and personal problems because we know for sure that it wont bring any good to us and the tendency that we will loose all what we have been working. Personal problems in forex trading will totally can affect our trades so better not to trade at that time and try to solve your problem as we need to have clear our mind or have relax mind so any emotions can be manage and the outcome of our trades will be better. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted March 21, 2012 Share Posted March 21, 2012 Personal problems in forex trading will totally can affect our trades so better not to trade at that time and try to solve your problem as we need to have clear our mind or have relax mind so any emotions can be manage and the outcome of our trades will be better. I do agree with you that forex trading does require mental efforts and if we are not in proper set of mind to take a position in forex, we may take decisions out of anger or frustration which can effect out forex trading badly. So, the best thing is to relax our mind before trading in Forex. Quote Link to comment Share on other sites More sharing options...
pepy Posted March 24, 2012 Share Posted March 24, 2012 haha, that is already answered i think many trader use their emotion in the wrong place and too much too, when they are profit they become greedy without thinking too much, and when they loss they just blaze up and put all the money hope to be get back their money , one thing again forget about demo account LOL Quote Link to comment Share on other sites More sharing options...
flybiz08 Posted March 28, 2012 Share Posted March 28, 2012 Emotions should have no place in the career of a forex trader because emotions can cause a trader to be reckless in trading and the result is potential losses. Using a proper money management will help a trader put emotions under proper control. Quote Link to comment Share on other sites More sharing options...
budado Posted March 31, 2012 Share Posted March 31, 2012 Emotions should have no place in the career of a forex trader because emotions can cause a trader to be reckless in trading and the result is potential losses. Using a proper money management will help a trader put emotions under proper control. Theirs no problem with emotion. What is the problem is when you become emotional in trading so that is different thing. Because its natural to feel emotion in trading. Its natural to be excited. Its natural to feel bad in losing a trade. But as long you are in focus and as long you are in control its not a problem. but once you don't trade with your strategy because you become emotional then that's another story. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted April 1, 2012 Share Posted April 1, 2012 Yeah! They can't control their emotion as when they loss a trade they will open a new position and will put a lot of money as hoping that they could get their money back. Without thourough analysis before opening a new position, that's why they likely to fail. Quote Link to comment Share on other sites More sharing options...
pepy Posted April 2, 2012 Share Posted April 2, 2012 Emotions should have no place in the career of a forex trader because emotions can cause a trader to be reckless in trading and the result is potential losses. Using a proper money management will help a trader put emotions under proper control. i think many trader who spend their time in this forum must be know about that, emotion is something that become a bad thing for us when we want to trade, but if we can control it, i am sure that we can reach the target per day and also reduce our chance to be get loss from our trading Quote Link to comment Share on other sites More sharing options...
monyitomon Posted April 2, 2012 Share Posted April 2, 2012 That's why you should know the factors that boost your emotion in trading like when you are trading a lot of money but when we are trading the money that we earned in posting in Forex Forums then we are not too afraid. Quote Link to comment Share on other sites More sharing options...
pepy Posted April 2, 2012 Share Posted April 2, 2012 That's why you should know the factors that boost your emotion in trading like when you are trading a lot of money but when we are trading the money that we earned in posting in Forex Forums then we are not too afraid. can you give some tips about that? you know sometimes it is hard to control the emotion when we are trading in forex, and if we use the money that we get from forex forum, i think that is depend on the person itself, can you imagine trying to be trader and then make some post and after that loss all of your money? LOL Quote Link to comment Share on other sites More sharing options...
budado Posted April 15, 2012 Share Posted April 15, 2012 can you give some tips about that? you know sometimes it is hard to control the emotion when we are trading in forex, and if we use the money that we get from forex forum, i think that is depend on the person itself, can you imagine trying to be trader and then make some post and after that loss all of your money? LOL I can give you one tip. In my case. I just study strategy and I trade. I seldom look at my earnings or at my loses. As I only looks at the pips that I gain or the pips that I loss. Once you don't think about monitary value in your screen you don't think about your loses at all. Your concentration will be in your strategy. But I guess its hard to do. The only reason why I don't feel anything anymore is that I have been trading for six years now. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted April 16, 2012 Share Posted April 16, 2012 Its the amount rather than the price. In that case, we will be more focus on our strategy not much in the earnings we will get. It took years to really figure out how to cope up with the market trend. That's why it is not bad to have mistakes as we can have this mistakes as our key to our success in trading. Quote Link to comment Share on other sites More sharing options...
charlly007 Posted April 25, 2012 Share Posted April 25, 2012 Then fact is,we must put our mind to what we are actually doing when we are trading forex.We need to put our emotions away and let our focus be on what we are doing.I love that advice.As for strategies,we should stick with it no matter what,another lesson learned. Quote Link to comment Share on other sites More sharing options...
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