Have you improved your trading psychology?

kim855

Private, 1st Class
Messages
58
It's hard to change your mental habits especially perception of loss or risk preferences that's why I opted for another approach - avoid trading situations which challenge my weaknesses. Trading by rules and transition to algo trading helped me greatly in that.
this sounds like a good bit of advive, the key is to trade using what you have learnt then to evaluate t=what happened after reflection of actions will be the key for future developments
 

Painskin

Private, 1st Class
Messages
67
Of course learning process of every trader consits of permanent improvement of trading psychology and common knowledge in trading I guess. It's difficult sometimes to adopt to it however it's the only way to trade wisely and safely. Psychology means that you have to turn off your brain while you're trading (of course I mean emotions), the more you concentrate on trading activity the faster you'll get profit which you want. For novices it's kinda hard to understand the neccessity of trading pscyhology and they always don't bother about it, but I believe that right-adjusted consciousness is almost a 40% of success.
 

fxoday

Recruit
Messages
534
Trading forex needs strong psychology trading, how to improved good psychology this is needed more practice and having a good mindset, although not easy to win, but if trader having good mindset will help them to keep motivation in the learning process.
 

sarah2701

Recruit
Messages
92
Trading forex needs strong psychology trading, how to improved good psychology this is needed more practice and having a good mindset, although not easy to win, but if trader having good mindset will help them to keep motivation in the learning process.
And this is the hardest job to keep yourself motivated even after losing again and again.
 

Spellkiller

Private, 1st Class
Messages
76
I think that improvement of trading psychology is the most difficult thing in trading at all. Of course it takes about 60% of your success hence it's very hard to setup yourself on a positive way, especially when you see that you permanently start losing and losing. However, there are some tips to improve it. Firstly, you have to get rid of the thoughts which somehow can influence your trading style, just throw away all the negative stuff from your head, you know. Secondly, you have to get rid of external stimuli which can affect your mood. Finally, you have to set correct goals in order to prevent overtrading.
 

holycow

Master Sergeant
Messages
323
I think that improvement of trading psychology is the most difficult thing in trading at all.
Yet when we practice something again and again with patience, new skills eventually evolved from us taking us way ahead of other traders.
 

TareqS

Corporal
Messages
70
I do not think I have improved myself psychologically a lot when it comes to trading. I used to be fearless when I started trading. Nowadays, I calculate more. Thus, I often end up not taking an entry for even a week or more. You are right on the note that keeping a journal can help improve our trading ability.
 
Messages
133
I think that improvement of trading psychology is the most difficult thing in trading at all. Of course it takes about 60% of your success hence it's very hard to setup yourself on a positive way, especially when you see that you permanently start losing and losing. However, there are some tips to improve it. Firstly, you have to get rid of the thoughts which somehow can influence your trading style, just throw away all the negative stuff from your head, you know. Secondly, you have to get rid of external stimuli which can affect your mood. Finally, you have to set correct goals in order to prevent overtrading.
This is a really good way to approach it. Trading psychology has a much bigger role in success than most people think, and it takes a lot of self-awareness and improvement to get to a point where your feelings don't affect your trading in a negative way. The things you have mentioned are great steps to follow.
 

sarah2701

Recruit
Messages
92
Yet when we practice something again and again with patience, new skills eventually evolved from us taking us way ahead of other traders.
Yes practice makes anything perfect, so practice as much as possible, test your strategy again and again before placing any order on live account.
 
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