Have you improved your trading psychology?

iMusingKiMi

Sergeant
Messages
896
Many people loves putting their time to improve on system/strategy, looking for holy grail, but they almost forgot psychology are the most important factor in trading. Look for Dr. Andrew Menaker, I can assure he can improve your psychology on trading if listened and understand what he said.
 

Froso@FXNET

FxNet.com Representative
Messages
395
I cannot stress enough on how important psychology is in trading. A whole new world.

Psycholgy must be improved from time to time but the problem our mental always face up and down when facing market condition , cause condition some times not as our expected . so its crucial for any traders
 

WatanFX-Rep

WantanFX Representative
Messages
64
For me Psychology is only risk of loss of real money.

One can be down 500 pips and still lose only $5, and one can be down 5 pips and lose $500 dollars.

For most retail traders, who are trying to make a living out of the forex markets, with $5k deposit, I am not sure if any kind of psychological course would work. Most retail is trying to double their money within a month. With such a wide spread attitude, the term "Psychology" is overrated.

Psychology of the retail game is a lot different from the Psychology of an institutional portfolio.
 

downtrend

Master Sergeant
Messages
886
Trading psychology is very important in the life of a trader. In fact it is the real deal that a trader needs to cope with. If as a trader you fail to control your psychology, then it is not possible for you to become a successful trader.
 

Froso@FXNET

FxNet.com Representative
Messages
395
Trading psychology is very important in the life of a trader. In fact it is the real deal that a trader needs to cope with. If as a trader you fail to control your psychology, then it is not possible for you to become a successful trader.

Therefore mature mental and strong in psychologycally is necessary capital for doing forex business cause as we know there are unpredictable moevement also uncertain condition that make us being easy for frustration , depression and also anxiety .
 

Whitesnake

Corporal
Messages
428
Psychology is certainly the deciding factor for the traders. And only those who can be strong minded are the ones that would be highly profitable in the forex trading business.
 

victoriajensen

Private, 1st Class
Messages
1,117
Improving my trading psychology is something I am mindful of all the time. Otherwise I would be prone to repeating past mistakes and that can be disastrous.
 

Bordux

Recruit
Messages
45
When I open trades, I like to set and forget about them, only checking on them once in a while to find out if I can trail my SL according to my trading plan. The way I remove emotions is simply by distracting myself with other activities and I found that to be effective. My advice is when you open a trade, and after setting your stops, go and do other things; go work out, play video games, go cook something good, do anything else you like that would keep you away from the charts. This way I am able to remove my emotions, "sit on my hands" and improve my discipline and also prevent myself from doing a mistake; I let my trades work out themselves and don't try to micro manage them.
 
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