Actually we can’t control emotions completely when trading practically, because it s a common human nature. But we can maintain our emotions by proper trading discipline of course. So it is more appropriate to ensure a better trading discipline for avoiding unfortunate losses.
@Hadden
sorry mate, Not to throw it back and i mean this in the nicest way possible
WE ACTUALLY CAN
let me explain something,
when i say stuff like this to people, they don’t normally research it, they just GIVEN THEIR OPINION …
and … I completely understand that
but UNDERSTAND ME…
I’m not giving you my opinion, I’m giving you a medical fact
Look… if you don’t believe me… GO ASK A PSYCHOLOGIST, that will settle it
People can psychologically COMPLETELY control their emotions
but, i think the more important issue is this…
you don’t need to COMPLETELY control them… YOU ARE ALLOWED TO " FEEL "
the danger of emotions , as it pertains to trading, comes into effect when EMOTIONS ARE OUT OF CONTROL
so ANY LEVEL OF CONTROL is acceptable, as long as there is control.
that’s your goal
you don’t need to be Ghandi, or buddha and have inner peace of be at one with the universe or crap like that
JUST UNDERSTAND YOURSELF and DON’T REACT
that’s pretty much it
it takes practice but it can be done
I’ve taught a few people to do it. so i know it can be done and i’ve spoken to experts about it
Trust me, Speak to a Psychologist… You’ll see… it’s true
It seems online course which are paid is bit complicated, at least for me. I tried to start with online paid courses. But not able to understand a single thing. Instead of paid course I use to follow different trading forums. And forex related journal. I also try to see different forex related YouTube videos. The best part of YouTube videos is you don’t need to pay for that. But you can different patterns or types of videos for one thing and also you can justify which will be perfect for you.
Yes discipline and lot of practice only can control your emotions but not for all time. this is really when trading
There’s no point in starting with paid courses from scratch. I, personally, have never seen the need to attend one, but if one does it’s a good idea to at least educate themselves about the basics from a source like Babypips.
Any course says what to do what not to do. By doing courses you get knowledge. But knowledge only becomes power when it is applied properly. Babypips itself has a big resource for learning. The School of Pipsology. First study them then you will know what you need to do.
We need a practice to gain knowledge by learning. Baby pips are good yes I admit. But we have to widen the range of educational source to increase trading performance. Beginner’s level should try all popular forum communities with practicing a demo or micro account. it will bring good knowledge and live experience for them.
The beauty of forex exchange trading is the virtual, global platform that facilitates currency exchange from anywhere around the world and at any time. The ugliness of forex trading is the scam brokers or existence of fraud forex brokers and thereby many traders are losing money each day. There are various ways to learn about forex market, online course is one of them, but not the best one. No matter how much you have learnt in computer, you won’t get the real experience of trading.
Which is completely out of scope when considering retail FX speculation - this is of course what the FX retail brokers want to tell you, however the reality is very much different.
Beauty : opportunity to achieve financial freedom
Ugliness : opportunity to get labelled as an idiot by family and friends.
A mentor be it a good or bad one. Can only show you the way. The path is fraught with uncertainty. Only the ones with GRIT will persist long enough to eventually find the way to Rome. And only the ones that REFLECT deeply will be able to discern the thin line between fool’s gold and pure gold. Ultimately, what matters is the ACCURACY of opinion.
I will say scam in Forex trading is the worst feeling, I will never want to be scammed anyhow. But you can see many scammers are there working in the trading market.
I have no experience with Forex beauty much because I am not a pro trader.
But lot of experience with ugliness in here and from all scam broker and their activates is foremost. Actually we feel really helpless when scam broker cheat with us and we can’t take any steps for that. But they always can affect the result of our trading with certainly.
True fact, for that reason it is more appropriate to choose top Forex brokers which always guarantee their clients funds with a wide range of trading facilities.
I concur. I’ve been scammed more than once and it really is the worst feeling when you realize you’ve been had. It’s painful, humiliating and depressing.
Anywhere you find a lot of money you will find scammers. If you avoid those with extraordinary claims and stick with regulated companies, though, you can avoid being a victim.
The beauty of forex trading is you can do it from anywhere. You are your own boss. If you know how to do it, it gives you freedom of time and money. The ugliness is it’s the most risky business in the world. You can lose some money even before you understand what trading is. It’s not easy as you have heard. You have to be skilled by dedicating yourself to learning and practicing.
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@FerdousAzam LOL
Not being rude mate, but clearly you have not run a business for any reasonable length of time.
RE this…
hehe
yeah… right, I guess like a starbucks or borders or at the top of a mountain as long as you have an internet connection … right ? hehe
NO MATE. it’s not like that
Now. Technically speaking, AS LONG AS YOU HAVE AN INTERNET CONNECTION, you can open MT-4 and Receive live feeds… sure
but it doesn’t work like that
because doing it this way will only allow you to use 1 monitor (most likely on a laptop or tablet)
You are not going to trade successfully like this
IF THIS WAS ACTUALLY TRUE, INSTITUTIONAL TRADERS WOULD NOT LOCK THEMSELVES IN OFFICES ALL DAY, but instead they would be out and about in the sunshine drinking coffee and margarita’s by the poolside on a resort while watching their trades make money
THIS IS THE PIPE DREAM it’s not reality hehe ok
Yeah… You are
but…
this statement gives the ILLUSION to a person that running a business is a walk in the park
IT’S NOT
if gives the illusion of FREEDOM FINANCIALLY AND OTHERWISE
the reality is, THAT FREEDOM COMES AFTER YEARS OF HARD WORK
yes, you earn a lot of money BUT YOU WORK HARD FOR IT, that’s why you get a lot of money
but it’s not a cruise, it’s a hard slog
No it doesn’t
ONLY AT THE END do you get that, but during it… it’s a hard slog
the way you are saying it is as if you are new to business
and if that’s the case, you are going to get a rude shock pretty soon
one day you wake up and you find out… IT’S ACTUALLY HARD WORK HEHE
Hope this helps you
I would say that you increase your chance significantly not to become a victim. Sadly, not even working with a regulated broker can help you avoid that risk altogether.
“Forex trading can kick off from any places in the world” this point you considered as a beauty of Fx. But I don’t think so. Because of this reason right now by and large people consider Forex as a scam. Suppose, you are in India and trade in a broker which belongs from Cyprus , if they cheat with you , you could not take any steps against the broker. Then you would just blame Forex trading system. A broker always can affects the result of our trading with certainly.
Picking which forex broker to exchange with can be an extremely overpowering assignment particularly in the event that you don’t recognize what you ought to search for.