hi, I can be cooperating as much as you want 
the market will evaluate each trading skill, sooner or later 
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We can’t ignore or control our emotions. They just happen as a reflection of the interaction with the environment. We need to learn how to deal with them. This skill is called emotional intelligence and starts with introspection—the ability to observe and understand ourselves Some people perceive money as something good, others as something terrible, and thirds as a necessary evil. Some people want money; others need it. We take these different emotional states into account. When we lose or make a profit, these emotions come back multiplied and hit our minds like a boomerang. For me, to deal with that, I need to replace these emotional states as I perceive money as what money is: a medium of exchange, storage of value, and financial assets. The other way to deal with my emotions is to focus on the process, not the outcome. For me, trading is not a money-making process; it’s a decision-making process. It’s about the perceptions. We don’t trade financial markets; we trade what we believe about financial markets.
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First, find a very simple easy to understand strategy. Start simple cuz regardless of the strategy you will still take losses. Risk management is more important than strategy
Start doing uncomfortable but good things. E.g start showering without warm water; cold or slightly cold. It’s uncomfortable but you will do it religiously
Discipline and patience is all it is. Dicipline to respect your playbook and patience to both wait for your setup or do nothing…and the patience to grow slowly.
Read or Listen
Watch Mark Douglas 7 video series on YouTube from 2015. Then every week watch it at least 3-5 times. You will start to know how price truly move regardless of strategy.
Read or listen to the audiobook by Mark Minervini “Mindset Secrets for winning”
Also, audiobooks “Fastlane millionaire” you learn the value of time
Then Journal everything using excel or Numbers from MacBook… Numbers is the best as it allows for you to type comments into cells without taking space. Create your own journal, don’t buy. Creating your own journal and improving your journal will come as a result of the conscious steps you’re taking to improve your trading thereby feeding your subconscious mind the direction you want to go and what it should be looking out for.
Have a playbook with clear defined signals, entries and exits. For instance, if I believe I timed my entry right but the next 5min candle closes strongly against my entry….I am out and I don’t care what happens next. Have a hardcore process for everything. Stop trading with real money, use demo first. It helped me big time. That you’re trading with less emotion and trying to nail down a process first. Lastly, forget bout how much you could make, focus on how much you could lose….cuz no matter how much you make in this one trade, you are still looking to come back again tomorrow. But if you blow your account today, you’re not coming back tomorrow. So might as well focus on the long game and don’t focus on getting rich quick. But have a clear plan for exiting bad trades, that way you are not over reacting. Like I said, mine is getting out when a 5m candle CLOSED against my entry.
Also, do not try to force yourself to fix your mistakes everyday….but have it on the journal for a weekend recap and fixes. If you make a mistake on this trade, you simply write the mistake on the side….now if your subconscious mind remembers to avoid it tomorrow…great…otherwise don’t force yourself…just focus on trading and the best part of your trading….but by the weekend, this is where you go hard on reviewing your trades and finding ways to improve and tackle your mistakes.
In summary, seriously focus on creating and following a process regardless of the outcome of each individual trade. Allow yourself to make mistakes and then tackle the mistakes on the weekend…and then go again the following week. Don’t beat yourself up over mistakes…if you hate to make mistakes, you can never grow.
Hope this helps.
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Thanks
Wow Thanks very much
Will try them out and hope it helps
Hi! I did the same as you! I can tell you simply
Trust yourself and your instincts. If that fail you stop trading and focus on something else.
I trained myself to be NON emotional and that helped me most. Nothing and nobody could help you but only your clear mindset.
Good luck
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I would say that you need to trust your analysis and trading strategy if it shows positive results for a long time. After all, only its rules and conditions provide a greater number of positive and profitable entries into the market, and not instinct or intuition.
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Put yourself in the position of the institution. Just like you go to a store to buy and sell products you also have to see yourself doing that when trading. If an all time high is hit and you start seeing institutions taking profits you should learn how to see the patterns change from buying to selling. And also watch for when your about to get cheated in the process of selling. That’s it
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First understand definition of psychology within trading “ the study of the human mind and its functions, especially those affecting behavior in a given context (trading)”
Next, apply this study to you as well as the people trading (institutions, retail traders, banks).
Find out what, how, why and even when the market moves. What patterns do you see? Why do this patterns repeat? Can you find an edge and strategy that doesn’t mess with your mind to become fearful or greedy?
Sounds like you’re on a good path. Here’s something that changed my whole perspective: the only thing predictable about the market is that it HAS to go up and down.
Good luck.
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I’m not particularly well-versed in the psychology of trading, but I’ve found a simple solution for myself. I have a plan, and I follow it for a month, regardless of what happens. I continue to execute what I’ve planned. Overall, it seems to me that this approach is more about discipline
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For me, psychology in trading is the accompanying emotions and actions of a trader. And in order to make money on Forex, you need to be able to control your emotions, be able to wait, not try to recoup losses here and now, but wait for the next conditions of your strategy. You can have a good strategy, but if you don’t have discipline and endurance, then it won’t help you make money.
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My advice for you my friend is this, if you got your strategy right, enter the trade only know how much you are willing to risk on that trade. Allow the trade run. If you loss it fine you go again. And if you win you still go again. Just know how much you are willing to lose after putting your SL, TP. With that in mind you won’t have to worry about the trade. If you are overly worried person break even when you are in profit. That’s it.
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Sure Thanks
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When you have issue with trading psychology, meaning you are not ready enough to start trading. You are still afraid and worry about your entry meaning you are not confirming your strategy is correct when you place your position. When you have decided to take a trade, why keep observing it to mess your mind? Stick to your plan , stick to your analysis
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Trading psychology refers to the mental and emotional factors that influence traders’ decision-making processes and behaviors in the financial markets. It encompasses various psychological aspects, including emotions, biases, beliefs, and attitudes, which can significantly impact trading outcomes. Understanding and managing trading psychology is crucial for success in trading. You can check few references avail on trading psychology as well.
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don’t trade too big. Set the limit of lose for a day.
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It is psychologically easier for me to trade when I set stop losses and take profits in transactions, clearly understanding how much money I can and am willing to lose in case of a loss; and if the price moves in my direction, I set a breakeven. Then I can even close the terminal and just wait without worrying about the loss.
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Couldn’t agree more! Setting SLs and TPs was a real game-changer for me personally.
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Finding the right balance between strategy and psychology is key in trading, as suggested by various viewpoints here – whether it’s focusing on refining your strategy or managing emotions like an addiction.
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