Psychology Of Forex Trading

[Hunny Gee]

Guys.. this is something important which i want you guys to think about.

Most of us spend most of our time looking in charts, looking for good entries to

enter. And we spend all our time in that.

But are we doing the right thing all these while?

let us step out of our charts and look at the entire forex picture.

Let us reflect on how we can improve our forex game.

what are the things that we are doing wrong and should remove.

what are the things that we should be doing, but did not do?

what are the things that we are doing correctly and should keep doing

Let us look deeper..

What is our general risk reward ratio, – is it good enough for our account size

to grow and cover our loss we take in the mean while

what is our risk % size – is it too much or too little?

Did you enter the same position size on EVERY trade? are you discipline enough

to do that.

Price Action – Remember this is king in forex, did you enter with price action or

without it?

Emotions – (Entry) do we let emotions affect us as to when we enter the trade

(afraid of missing a trade)

is it because of missing a trade, we fail to enter on the break of the price

action bar + 10 pips. Instead we entered on the close of the bar and made a lot

of losses.

Emotions – (Exits) do we exit our trade base on emotions. How ofter does it

happen. did we stick to our initial plan?

Stop loss – did we shift our stop loss accordingly. Did we ever shift back our

stop loss because we hope it will go back to our direction we wanted?

Picky – are we losing money because we are not picky enough on our trades. Do we

enter base on 3 to 5 reasons or only 1 reason?

Overtrading – do we tend to over trade because we do not want to waste our time

looking at charts but not entering. did we enter more trades to grow our account

but instead make more losses.

Above are some reasons.

i want you guys to step back and think of the reasons that is affecting you. I

want all of us to improve our game further. and not just trade blindly.

Remember – CONFLUENCE is the key. Confluence means many reasons and not only 1

reason to enter.

Confluence makes you picky, confluence removes overtrading.

Postion sizing and money management is VERY IMPORTANT. If you are still not

implementing it. PLEASE CLOSE YOUR ACCOUNT. i do not want you to lose any more

money. PERIOD.

Remember to COMPOUND. this is what makes us FULL time forex traders and not

wannabes.

Ezekiel Chew

Asia's #1 Forex Mentor

[Guest forexdemo]

Psychology in Forex trading is one of the most important, if not the most important factor for you to be a successful Forex trader. Many traders believe that they will be successful as long as they follow strictly the strategies they know by entering the stop loss and profit take for each trade.

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[Hunny Gee]

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[abory]

There is an abundance of information available on the trading and psychology of Forex. For guaranteed success, disciplined trading is essential and many experience traders will tell you the same thing. Forex trading tools will only prove useful when you are disciplined in the mind and in your trading ways.

Being able to stick to your trading methods and stay focused are beneficial factors of discipline. If you would like to profit and earn a lot of money using the Forex system then using competent trading system will assist you in the long term. When you are able to overcome tempting impulsive emotions and you are able to stay rational, you will be able to trade effectively.

[Guest gaban]

that's a nice share,

i think psychology trader is very important, because it business forex trading, trader will always feel the pressure and whenever they face lose again and again they will feel the big pressure, if the trader cant handle it, they just will leave it so easy.