What's something you think traders don't talk about enough?

I’m not sure if you’ve answered this in the past, but, if you don’t mind, how long have you been trading? :blush:

1 Like

I have answered somewhere this, though now 3 years on it.
How long have you been here and what markets you prefer to trade on?

Traders don’t talk about the psychological aspects of trading enough! We all know that we need to do our research and learn the basics of technical analysis, but that’s just step one in becoming a trader. The next step is learning about yourself and how you work best; because if you don’t know yourself, then the markets will always be one step ahead of you.

How about when we get it completely wrong Hard to stomach I guess, especially if you were really committed to your thoughts at the time of the trade.

real backtesting of its own strategy, including slippage and tick moment entry and exit

make it as robust as posible

Bankroll management is something I bet 95% of the average losing long term trader has very little skill in managing.

I am happy you talked about this aspect too. But I would like to go deeper, how to control the emotions and how they can not only affect trading but also personal psychological health.

I think some morning walks, breathing exercises, meditation and healthy food habits can help here.

These are really effective for mental health. And if mental health is stable, trades also become better as we are able to focus in a good manner.

I feel like I’ve mentioned this before but I just think this is really important. :open_mouth: For traders who mostly use their minds in their trades, mental health really plays a big role. :open_mouth: And I guess, with that, I just wanna quickly say I hope all of you guys are doing well! :pray:

Yeah right @ria_rose. Hope you too are doing great! :slightly_smiling_face:

1 Like

I think traders are afraid to ask questions and talk about their losses.

Agreed! It’s very common among newbies especially.

Oooh. That’s true. :open_mouth: I wonder if it would be interesting to have a thread where people here can share some of their recent losses, just to show that it’s not always a great day and it’s okay to lose every now and then. :thinking: What do you think? Haha. :smiley:

Yeah. :confused: Well. Since a lot of newbies dream big and want to get rich quick, talking about their losses might actually help them realize that forex isn’t easy and that they won’t necessarily get rich trading. :thinking:

I think most Forex traders don’t talk much about Forex Drawdowns and the importance of experiencing them to gain trading knowledge.

A drawdown is bound to happen sooner or later, no matter what strategy you use to trade forex. In the forex market, you experience a drawdown whenever your balance declines. Failing to recognize and learn from them will only result in more difficulties and losses.

For example, let’s say you open a currency trading account with $50,000. Following a bad trade, you see your account equity drop to $45,000. In other words, your account has been hit by a $5,000 drawdown.

Remember that a drawdown is part of trading, and you can’t avoid it, but you can keep it under control.

Yeah, they need to understand that it’s not a get-rich-quick scheme. It demands time and efforts.

Possibly their mental health. Much is made and spoken of trading psychology relating to how you cope with losses, letting winners run etc but less so about those who feel they have no outlet to talk about trading, the fact it can be a very lonely profession, perhaps family pressure, worrying about how others perceive them etc.

1 Like

As cashisking86 has already stated
Mental health , the losses and yes it is lonely but for me I like the solitary nature I’m a bit odd in that respect lol

I think traders get more reluctant to talk about the risks and losses and about their emotions when they are not able to keep a hold on it.

According to me, traders get hesitant to talk about their fear and greed.

1 Like