Well, I can say that this month turned out to be quite good, because I was left in a good plus. My minute strategy works quite well.my trades: i.imgur.com/CnWbDG0.jpg
I don't think I'll be able to achieve my plan of increasing my deposit, but no matter what, I'm also in the plus, although it's not what I was hoping for.
The main thing is that you are "in the black". And the fact that you didn't stick to your plan is not that important. It'd be way worse if you ended the month "in the red".
I agree with you. It's just I've set a certain goal and I wanted to reach it. And here profit fell short(((
No worries, you'll get there this month. The main thing is not to lose your head chasing profit. You should always remain calm and sensible.
Yeah, well, psychology is super important. Without proper attitude you can hardly trade profitably.
Trading psychology is super important. But I think that risk management should be trader's top priority.
I can't agree with you on that one. If you can't stop and pull yourself together at the right moment, no risk management will help you.
I've read an article on trading psychology here once. It said that you should be coolheaded and super calm when making trading decisisons. That's how professional traders do it.
Only robots can trade without any amotions at all. But people do have emotions and it affects trading anyways.
Have you read "Pit Bull" ? by Buzzy schwartz?
Yeah, trading psychology is a difficult thing. But I think everything depends on your experience.
Experience is super important, for sure. But you should also constantly develop you skills and learn something new to progress.
You're absolutely right that traders should always learn something new. It's a must. I for one sometimes check out the learning section.
Guys, I've noticed one feature in the platform. It allows closing trades before expiry. Anybody uses it? Do you think it's useful?
I once accidentally bought an option instead selling it. I used this feature then.
I've also use this feature a couple of times. It helps to reduce risks just like risk-free trades.
I have mixed feelings about risk-free trades. They allow you to trade conservatively but then again they cut down the profit.
Well, yes, option's profitability decreases with risk-free deals, so what, you can still just buy an option with a high price, right?
You're right, but I have very strict money management and I can't afford to buy expensive options.
The beginner's guide to FX trading