Psychology of trading

Beginner Questions Trading Psychology
21

Exactly, we should follow our own learning when it comes to trading.

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22

You won’t find a common psychology of trading in all types of traders. Development of better psychology is needed for better trading.

23

Different traders have different trading psychology and different ways of dealing in forex.

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24

Perhaps some one is trying to create copy trading for successful trader’s psychology :slight_smile: :slight_smile:

25

Trading psychology really matters. Strong mentality is a good support for traders and weak mentality breaks a trader down.

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26

That’s a normal thing . Eventually you’ll get numb to losing money . You gotta “ pay to play” in this market. Best advice is Trade money you don’t care about losing , like $10 a trade & work on compounding a trading account don’t worry about withdrawing money right now . Also build a STRONG RISK Management plan

27

yep, self control is everything here.
being able to analyze own mistakes with cold mind and not getting all emotional is crucial

28

Self awareness and self control is imp in forex.

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29

Amend your trading psychology because a weak psychology makes a trader suffer due to trading anxiety.

30

I always say mend your trading psychology because it has high impact on your trading. Never nurture negative mentality.

31

A negative mentality always inspires traders to take wrong decisions. So, build a positive mentality.

32

Psychology of trading can include fear, greed, and overconfidence, which can lead traders to make poor decisions. To be successful in forex trading, it’s important to be aware of these psychological biases and to develop a trading plan that incorporates risk management and discipline.

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33

True! Positive mindset plays a great role in trading.

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35

The psychology of trading revolves around:

  1. Emotional Control: Managing fear, greed, and staying calm under pressure to avoid impulsive decisions.
  2. Discipline: Sticking to a trading plan and maintaining consistency regardless of market conditions.
  3. Patience: Waiting for the right opportunities and not forcing trades.
  4. Adaptability: Adjusting strategies as markets change without letting emotions dictate actions.
  5. Resilience: Handling losses with a growth mindset and bouncing back from setbacks.
36

Forex is a market that offers opportunities every single day so why you get frustrated.