Have you improved your trading psychology?

dianajs

Private, 1st Class
Messages
778
I think so too. Few people feel any kind of emotional pressure when trading on a demo account. Learning emotional discipline usually happens on the live account.
 

Melvin Leon

Recruit
Messages
54
Psychology is the most important and most ignored aspects in trading. Most traders do not have any idea about this. They think their strategy is not good. They always look for a 100% proven strategy. And it takes time to improve your psychology. You also need to read about it as much as possible.
 

dianajs

Private, 1st Class
Messages
778
Psychology is the most important and most ignored aspects in trading. Most traders do not have any idea about this. They think their strategy is not good. They always look for a 100% proven strategy. And it takes time to improve your psychology. You also need to read about it as much as possible.
That's true, but usually once a trader accumulates some experience they realize that no strategy is 100% successful. A good trading plan always takes that into account.
 

TrapLok

Recruit
Messages
135
Trading psychology is an important area of the Forex trading and it is a difficult part as well. You have to train your mind to take decisions at the right moment. Depicting the clues and studying the behavior of the market are two important things for getting success on the Forex market. Your psyche is your asset! Do you have a halk eye?
 

dianajs

Private, 1st Class
Messages
778
Being able to trade with a level head is definitely an asset, I agree about that. It's something that may take time to develop depending on the person, but it is important to aim to gain that ability.
 

AlecR

Corporal
Messages
89
Nothing is impossible if one want to change his psychology but it will take lots of efforts to get this ability. I did a lot of practice to control my emotions in forex market specially during high impact factor news spikes.
 

bigdolly

Sergeant Major
Messages
996
Nothing is impossible if one want to change his psychology but it will take lots of efforts to get this ability. I did a lot of practice to control my emotions in forex market specially during high impact factor news spikes.
Do you trade during news or avoid it? I often grab some goods pips trading on news, but those sharp and unexpected spikes.. still no clear strategy how to avert from market blows during thin market liquidity or huge volatility.
 

Addam

Recruit
Messages
259
The best thing about forex trading is that it improves your discipline and self-control. Your judgement making power improves drastically and you are not afraid of little things in life. Forex may not always provide profits but it makes you a brave person. How many of you agree with me?
 

Morten

Corporal
Messages
136
Many newbie traders ask me how can thwy improve their psychology and mental strength in forex trading. I always say to them that it is not easy. You will only gain mental strength through experience. You can also gain those attributes while staying in the market. There is no other way for this.
 

bigdolly

Sergeant Major
Messages
996
How to improve trading psychology when every trading day is full of nervous trades when you have to make hard decisions. I think trading not improves but destroy our emotional stability.
 
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