CryptoPopo
Private, 1st Class
- Messages
- 51
- Trading Psychology (Most Important)
- Money Management ( Compensation of loss/profit)
- Strategy ( Least Important)
Stop loss and take profit will do the trick. If you honor them in your trading of courseMost new traders tend to focus more on Strategy and ignore the fact that strategy is the least important thing on their list. Please do develop your trading psychology since it is the most important thing in trading. Can't let your emotions get the best of you.
- Trading Psychology (Most Important)
- Money Management ( Compensation of loss/profit)
- Strategy ( Least Important)
Yup, but I was also referring to Options trading where they don't have the stop loss feature.Stop loss and take profit will do the trick. If you honor them in your trading of course
And I`ll suggest keep distance from Options tradingYup, but I was also referring to Options trading where they don't have the stop loss feature.
hahaha it's gonna be pretty hard for new traders to keep distance from options, cause it's basically more 'interesting' since new traders know the profits they are making through each trade. Options are basically an introduction for new people to the trading world, and would eventually evolve to other forms of trading.And I`ll suggest keep distance from Options trading
And it's turning into most scamming as well. Read this and this to get the idea why I say no and will suggest not to go with it.hahaha it's gonna be pretty hard for new traders to keep distance from options, cause it's basically more 'interesting' since new traders know the profits they are making through each trade. Options are basically an introduction for new people to the trading world, and would eventually evolve to other forms of trading.
i can add one more rule. Basic knowladge about market analysis
- Trading Psychology (Most Important)
- Money Management ( Compensation of loss/profit)
- Strategy ( Least Important)
And most people with really low psychology tend to think that trading is an easy and don't need practice. And when they screw up, they will always blame the broker. #tradersthesedaysYes you are right psychology is not most neglected thing is forex trading though it is the most important aspect of trading. People are looking for ready-made strategies. They change the strategies one after another. But do not try to adapt the trading psychology. As a result most of the traders fail in trading.