@g12863 To remove your anxiety about a particular pair, trade a basket (portfolio) of currencies. Do not focus on trading only 1 or 2 pairs, diversify the risks and dilute your attention through diversified trading of a basket of currencies.
@g12863 All instinctive traders are losers! Never trust your instincts in forex trading. You may try your instincts in other parts of life but not in trading. Instinctive trading equals to gambling. 99% gamblers are using their instincts to lay their bets!
Are you trading demo or real money? I think if real, that could definitely be playing into your current issue. You’re afraid to lose. Once you come to terms with understanding that losing is party of trading, hopefully that will change your mindset going forward.
But listing to too many people definitely won’t work. Making your trades simpler I think is the best advice here. And obviously having a plan, which it looks like you have.
I’m trading both. I’ve been trading my live account all the time and demo on the side and my live account is suffering while my demo is growing. I think looking at charts all the time triggers trades even if I know they’re bad but my demo ends up getting only higher quality trades. I’m going to switch it and trade my demo all the time and trade my live account on the side and see what happens.
In fact, each of us is constantly in doubt, and it is not very easy. But then it’ll be easier for you, take it as a transitional period.
@g12863 Yes, good idea, trade your live account as if it is a demo account with capital you’re prepared to lose all. But it is easier said than done!
A punish system may impact your mental health negatively. How about a reward one? E.g. you get to buy something if you follow your rules X times in a row? Something to consider. : )
You think too much about your experiences, do not worry, each of us is nervous, because we have a very dynamic and complex business and of course we often do not go according to plan. And it’s okay, you get used to it over time and everything works out. It’s going to be the same for you. You will certainly become a trader, just keep working on yourself.
Never listen to anyone, in this case you are only responsible for the result and all the consequences, so all these people and their advice should not affect the course of events.
From your explanation, it’s either you don’t have a solid system or you have a system that you don’t trust. You don’t trust it because you haven’t taken your time to prove that it’s profitable in the long run. Once you have solid proof of it’s profitability you will be the master of your emotions. Get to work
Some people are positive reinforcement and others are negative reinforcement people. Figure out which one you are. Could change the mindset.
What do you consider long run? And can that change over time? I hear a lot that a single strategy doesn’t work all the time, so how can you tell it’s the current market conditions as opposed to the system? Or is that what all this is about? Getting the right system at the right time?
Longevity of your trading strategy. 10years minimum.
Yes it can but you just need little twist or evolution of your strategy to flow with the change
What are “hissed” beliefs?
Like I said, just a little twist and your strategy could fit into the new market change. It might be a bit difficult for strategies that relies on more than two indicators to adapt to these changes, you need to do your homework. But I know for such that price pattern trading will adapt flawlessly to changing market.
Your trade results will testify to that. This boils down to keeping track record of your trading performance and percentage profitability in a week, month or year. Once there is a change in the current market condition, you will know because you kept records.
No, its more like getting a system that will serve you for years. Just like warranty, every device or Product has its expiring date. It is your duty to design a system with high longevity and you can sure get that system by designing around price action.
That seems so far away. Are you saying it takes that long to determine if a strategy/system is a keeper? How is that doable? Why that long?
No. That’s how long you will enjoy your invented strategy if you build around PA/PPT