I freeze when i'm about to enter a trade
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  1. #1

    Default I freeze when i'm about to enter a trade

    I've learnt so much about the forex but everytime i want to enter a trade,i just blank out and i cant understand the charts.Please could someone teach me the guidelines of entering a trade or better still introduce me to a system i can stick to. thanks :

  2. #2
    Join Date
    Dec 2006
    Posts
    440
    have you demo traded for a while? are you used to using the platform and comfortable with the risks you are taking?

  3. #3
    Join Date
    Dec 2006
    Posts
    99
    i used to get this kind of anxiety when i started trading real money. its something you need to get in check cause it can actually work against you in the long run. naftab proposed some really good questions. if you stick with a demo long enough you should feel confortable and the transition to a real account would be effortless (if you follow the same setups). also, what kind of charting period do you use? if you use quick charts 5, 15, 1H you will have more pressure on your back becuase these time frames require fast decision making and analysis. if you trade 4h, daily and weekly then you shouldnt experience the same amount of stress. you must be confortable when making trading decisions. you must give yourself enough time and room to analyze, make decisions and execute. from the sound of it you are very unconfortable. it sounds like you know how to analyze the maket with your charts but when it comes time to take seriouse action, you just loose it. that could tell you that you are forcing yourself to trade a style that probably doesnt fit your personality. if you trade longer periods you may still have the same anxiety attack but you allow yourself lots of room and time to go through all the motions to execute a trade. trade longer periods in your sleep then shorter periods would be a snap.what ever the problems have, you need to make sure you get it under control. when it comes to trading there is a lot of Psychological aspects to becoming a successful trader. you need to be like a robot almost. you dont worry about screwing up, dont worry too much about loosing money and dont over celebrate when you win. trades.

  4. #4
    Thanks for the tips Honeb, I'm still quite new myself and get a little nervous entering a trade. I know once I feel better and more confident it won't be as bad, I just wish I could become more robotic, I'm still attached to my money I think.

  5. #5

    Default just a little help

    I am a member of an organization called Winning Trader's Association and it is a small fee to join, just 149.00 lifetime membership and they go over it each night Mon-Friday around 7:30pm cst how to make trades that are successful and you can interact with the moderator. The organization also has a robot trader at www.4xcheckmate.com that will trade for you thereby taking out that human element of anxiety giving you the maximum number of pips. Pip Pip Hooray!

  6. #6
    Join Date
    Dec 2006
    Location
    Wichita Falls, TX
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    2,805
    One of the best bits of advice I've ever heard on the topic of trading and being able to take the risk is to make trades so small that they almost seem completely unworth your time doing so. By that, I mean there is so little actual risk being taken that you don't even really worry about whether you take a loss. It won't bother you at all. If you start of doing that, as you become more comfortable, you can start increasing your risk by taking on larger positions - so long as you don't go too far and trade bigger than is good for you.

  7. #7
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
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    327
    Quote Originally Posted by rhodytrader View Post
    One of the best bits of advice I've ever heard on the topic of trading and being able to take the risk is to make trades so small that they almost seem completely unworth your time doing so. By that, I mean there is so little actual risk being taken that you don't even really worry about whether you take a loss. It won't bother you at all. If you start of doing that, as you become more comfortable, you can start increasing your risk by taking on larger positions - so long as you don't go too far and trade bigger than is good for you.

    I agree 100%!!
    You will always have that feeling when you touch live trading, and you think about your loss and how it affects your real money. The way to do it, you have to follow what's said above, do not take big risk until you become comfortable.

    Move with small lots, and small pip values, then increase as your profit increases, and stick to your plan. You must stick to your plan.

  8. #8
    Another thing you want to take into consideration is the TIME you'll be trading. London open, NY open, all tend to be during the wee hours of the morning for us west coasters. Sometimes the market is hectic, and being up at 2am can be very stressful. Just find a groove, and step up in small increments.

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