Have you improved your trading psychology?

Rambo35

Corporal
Messages
280
One of the biggest, if not the biggest obstacle, for new traders is psychology. It can make or break your trading and you can only work on improving it through trading, trading and trading in a real account. Improving your trading psychology should at least be given the same consideration and effort as you put into creating your trading strategy.

Keeping a journal may be a great tool for you in order to write down and monitor your progress. Those who ignore the hard work required into making improvements to their psychology are missing out on the biggest factor which will influence your trading results.
 

fxapex

Private
Messages
20
through out knowledge of the market is important before investing, or you can invest in PAMM account if you don't have the confidence in trading...
 

Pharaoh

Colonel
Messages
19,905
through out knowledge of the market is important before investing, or you can invest in PAMM account if you don't have the confidence in trading...
Or you can get signals or let a robot trade for you.

Even so, you MUST learn the basics or you will have no way to fully understand of the manager, signals, or robot it trading in an fashion that meets your needs for risk and reward.
 

alanrox

Corporal
Messages
177
Or you can get signals or let a robot trade for you.

Even so, you MUST learn the basics or you will have no way to fully understand of the manager, signals, or robot it trading in an fashion that meets your needs for risk and reward.
Both ideas won't make any difference. High possibility to lose everything in a short period of time.
 

Pharaoh

Colonel
Messages
19,905
All trading has a possibility to lose everything quickly if risk management rules aren't followed. Some account managers, signals services, and EAs do follow risk management rules. Many don't. If you don't understand how risk management works, you won't be able to see if others follow them and won't be able to follow them yourself.
 

Rambo35

Corporal
Messages
280
All trading has a possibility to lose everything quickly if risk management rules aren't followed. Some account managers, signals services, and EAs do follow risk management rules. Many don't. If you don't understand how risk management works, you won't be able to see if others follow them and won't be able to follow them yourself.
+1 on that Pharaoh
 

SammyB

Recruit
Messages
3
I feel as though robots usually come into an abrupt end, to develop a traders mindset you need confidence in your ability and have conviction in any decisions you make, otherwise you will construct your demise if a feeling of doubt comes into your mind. Rules are usually a good way to start by training your discipline. It all comes down to how well you can tame human instinct I believe, but keep in mind everyone is different.
 

Froso@FXNET

FxNet.com Representative
Messages
395
I believe every person have psychology bakcground that's so differents , maybe ones have strong psychologycal but not sure in another hand have good psychology . while most of trader who fails to business that they do are trader who have poor psychology . and its fact so hard to improve the psychology and also not just in shot time . Sure need a time and need process not just use robot or signals . Both of them sure need strong psychology also
 

nahiyar

Private, 1st Class
Messages
810
I improved my trading psychology day by day . Now I feel less tension when market is not in my favor. Now I can fight mentally for more time in uncertain market conditions due to my strategy and good planning.
 
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