Hello all, I just began demo trading with ICMarket. I trade only Crocodile Dundee pairs: AUDUSD, AUDJPY, AUDCAD, AUDCHF, and AUDNZD. I trade with Price Action with the help of EMA20. I only trade if I feel I will win. And, I enjoy this forex game. I think mental is 90%, and system is 10%. My question is that how long will it take to train my mentality. Thanks.
Practice more than 500-600 trades and then judge your own trading skill; by the way, do you use support/resistant in your chart?
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No, because I don’t know how to use it.
Price Action is a good trading system; just try to focus on the full trading chart instead of specific patterns only!
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As long as you remain in FX academy. Success!
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You look like you have some semblance of a plan, but the only way of getting the right mind is time.
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I only trade if i feel i will win… theres so much wrong with this statement that it’s not even worth talking about anything else. Ever heard of mark Douglas? Look him up on YouTube.
Normally I would say people already have the 90% it’s the 10% they need help on. But in your case, it is the 90%. Do the babypips course.
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Thank you.
Yes, time will tell. Que Sera Sera…
Hmmm, you a marketing guy.
Nope. It’s a free course that will help you understand what trading is and give you a good foundation. At the same.time listen to or read mark Douglas material, it’s free too, will help with psychology.
You are welcome & really excited to see your progress!
If you are interested; read BabyPips School; you’ll get proper instructions on support/resistant & the applications!
Good luck!
Yes, I got the concept of Support and Resistance. Thank you very much.
1 year in demo trading practice. And we have to work with support resistant and market context. Discipline must be managed constantly. You have to plan before every trade.
How long does it take you to correct the bad habits you have?
For some it can take a lifetime, for others just a realisation they are on ‘the wrong path’ (whatever that means).
In trading we bring to the table a whole host of bad trading habits, fears, greed, and biases.
It can take a long time to rectify these compulsions much of it comes down to self awareness - how much of that have you got?
But you do need to get rid of all those animal instincts associated with fear and greed before you can be a consistently profitable trader
Those are some good tips. However, the appropriate time for demo trading might differ for all.
It is very important to give up bad habits in trading. If a trader trades with greed and fear, it is his bad habit. It is not possible to maintain profitability without maintaining discipline.
Yes, of course, you are right but I think when a trader struggles he must do demo trading. It doesn’t matter how long he has been trading.
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