Ooh, well - to answer your question, this can be [I]very[/I] high risk, and [B]is[/B] really a kind of overtrading, because sometimes those are going to be a lot more than 15 pips.
The particular risks of major news announcements (and perhaps especially US ones) are that they’re exactly the times your broker may not be able to honour your stop-loss (because of fast-moving markets), and that they can affect several pairs at exactly the same time, so if you have multiple positions open simultaneously, you can very occasionally face a huge loss without being able to control it. :eek:
People vary a lot, regarding the extent to which “fear of missing the train” affects their trading. The reality is that there will always be other opportunities.
Over-exposure to risk is in fact a much more realistic thing to fear, because actual losses are worse in their effect than missed opportunities.
I have no real “psychological insight” into others at all, but I strongly suspect that “fear of missing out” is (at least to some extent) an indication that aspiring traders are [B][U]not[/U][/B] instinctively looking at their trading as an exercise in [I]risk management[/I], but are more concerned with maximising profit … and that’s something they should try to change, because in the long run it’s not going to do them any favours. :33:
If you are trading according to your trading plan, then you are not over trading. Its only when you trade just to remain in a position, you are over trading.
Over trading in Forex is not good as it affects the growth easily. You have to trade slowly in order to get good result. Forex market is not running anywhere. Many people think that it is good, but indeed it is a bad thing.
My own understanding of overtrading is that occurs when a trader takes on too many trades without being able to handle it, neither in terms of risk management, nor from a purely psychological standpoint. In other words, when they bite more than they can chew.
Over trading occured might because any trader only tempted by price movement, and as trader have no plan in their trading and usually over trading occured because they want to making profit with take all opportunity but as trader less consider with risk management and only causing confused if we over trading
Most of the traders are greedy when they are getting profit . They want to get more and more at the same day . This thing is over trading when they do trading after getting their target or do not act upon their plan . I do not like over trading want to do that much in which I do not feel bore with trading.
When you are not comfortable with multiple trading pairs, then it would be effective for you to add new trading charts gradually! Even, one single trade position can be dangerous for your capital if you use aggressive trading lot size! But, trade with multiple trading pairs if not bad actually if you have good trading strategy or proper knowledge on Forex market!
It is obvious that you will over trade when you start your live trading in forex market. Its such an addiction that you can’t help yourself doing that. Slowly when you understand the true risk involved in the market you start controlling your trades.
I like to diversify risk by trading multiple pairs. Of course, I’ll reduce trade size to stay within my money management rules. Reducing trade size is the best thing one can do to reduce risk. Your money management rules should prevent you from overtrading. If you aren’t comfortable that they will do so, you should spend more time on perfecting them. Best success. -G
As we can possible avoid over trading because will often causing failure in trading, we as trader need always keep discipline with risk management also money management in trading which not always as trader will able analyze the market properly
You should not get nervous as you are performing quite decent and you should carry on such kind of work, you did not overtrade, so you should continue this practice in the real trading in order to get the fruitful result from this business.
With any system there will be a limited number of good reliable trade signals, you are over trading when you start taking trades that are of low reliability
Think of it like a Black Jack card counter, who only bets when the card count is in his favor, opposed to the person who bets every hand
You are going quite marvelous according to your trading chart, I think you are not over trading, you are working with right manners, so keep working with this method as you are doing well, always take the bold decision in order to earn from forex.
Yes I have learned a lot since my initial post. If one have a plan and understand what one is doing, then overtrading can be a good thing.
I`m in the process of deciding if I should close these trades or leave them running. Profits are locked in so they are profitable either way except that one EURNZD long which will make it harder to keep the poker face until it breaks even.
