Forex Zone | Forex Forum

Basic Psychology in Forex Trading

Discussion started on General Forex Discussion

  • Posts: 6752
  • Points: 308
  • Likes Received: 645
  • Reputation: +10/-5
Basic Psychology in Forex Trading in General Forex Discussion_xx
The following is the Basics of Psychology in Forex Trading :
1. Nature of openness
Successful forex traders are always open to new ideas. They do not reject the possibility of another idea or system if it can be more effective and profitable. Even though they already have and use the system with profitable trading methods and strategies, they are still willing to try a different system if it looks promising.
2. The nature of wanting to help fellow traders
Successful traders always want to share their knowledge with other traders to help them achieve their goals. They tend to have a sense of togetherness that the more successful should help those who are still struggling. Many successful forex traders become mentors or coach trading for those who need guidance.
3. Prudence
Forex trading requires hard work, both in studying the technical factors of trading and their implementation. Successful traders are always serious about learning everything by preparing themselves to the maximum possible both short and long term.


Linkback: https://www.forex.zone/general-forex-discussion/1/basic-psychology-in-forex-trading/802/
#1 - February 05, 2019, 05:09:53 AM

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 1047
  • Points: 5672
  • Likes Received: 100
  • Reputation: +4/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
The following is the Basics of Psychology in Forex Trading :
1. Nature of openness
Successful forex traders are always open to new ideas. They do not reject the possibility of another idea or system if it can be more effective and profitable. Even though they already have and use the system with profitable trading methods and strategies, they are still willing to try a different system if it looks promising.
2. The nature of wanting to help fellow traders
Successful traders always want to share their knowledge with other traders to help them achieve their goals. They tend to have a sense of togetherness that the more successful should help those who are still struggling. Many successful forex traders become mentors or coach trading for those who need guidance.
3. Prudence
Forex trading requires hard work, both in studying the technical factors of trading and their implementation. Successful traders are always serious about learning everything by preparing themselves to the maximum possible both short and long term.
true, 3 basic psychology is really needed in running forex trading, besides that psychology must be owned by a trader to be able to control emotions and control themselves especially in controlling risk.

Nature of openness is a nature of openness that is needed to know one's potential, The nature of wanting to help fellow traders and Prudence is also important in mastering trading psychology.
#2 - February 05, 2019, 10:59:48 AM

  • Posts: 6752
  • Points: 308
  • Likes Received: 645
  • Reputation: +10/-5
Basic Psychology in Forex Trading in General Forex Discussion_xx
true, 3 basic psychology is really needed in running forex trading, besides that psychology must be owned by a trader to be able to control emotions and control themselves especially in controlling risk.

Nature of openness is a nature of openness that is needed to know one's potential, The nature of wanting to help fellow traders and Prudence is also important in mastering trading psychology.
It's true, forex trading aims to get profit. But there is a clear difference between trying to make a profit by pursuing profits. One characteristic of professional traders is that they avoid being greedy and always discipline with their targets.
#3 - February 05, 2019, 11:29:38 AM

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 165
  • Points: 0
  • Likes Received: 41
  • Reputation: +0/-1
Basic Psychology in Forex Trading in General Forex Discussion_xx
The following is the Basics of Psychology in Forex Trading :
1. Nature of openness
Successful forex traders are always open to new ideas. They do not reject the possibility of another idea or system if it can be more effective and profitable. Even though they already have and use the system with profitable trading methods and strategies, they are still willing to try a different system if it looks promising.
2. The nature of wanting to help fellow traders
Successful traders always want to share their knowledge with other traders to help them achieve their goals. They tend to have a sense of togetherness that the more successful should help those who are still struggling. Many successful forex traders become mentors or coach trading for those who need guidance.
3. Prudence
Forex trading requires hard work, both in studying the technical factors of trading and their implementation. Successful traders are always serious about learning everything by preparing themselves to the maximum possible both short and long term.
Hi, friend
very good input,
there is an addition from me

It seems that our actions in making decisions need to be considered and become a top priority so that profits are consistent
#4 - February 05, 2019, 01:25:12 PM

  • Posts: 6752
  • Points: 308
  • Likes Received: 645
  • Reputation: +10/-5
Basic Psychology in Forex Trading in General Forex Discussion_xx
Hi, friend
very good input,
there is an addition from me

It seems that our actions in making decisions need to be considered and become a top priority so that profits are consistent
Okay friend. thanks for the advice. Indeed, every decision in forex, whether it's buy or sell, we must always calculate the risk that will occur if our analysis is wrong.
#5 - February 05, 2019, 01:28:56 PM

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 165
  • Points: 0
  • Likes Received: 41
  • Reputation: +0/-1
Basic Psychology in Forex Trading in General Forex Discussion_xx
Okay friend. thanks for the advice. Indeed, every decision in forex, whether it's buy or sell, we must always calculate the risk that will occur if our analysis is wrong.

You are welcome, friend
I am ready to accept, what happens with my analysis and I try to be careful and always pay attention to balance with patience so that the balance continues to grow,
#6 - February 05, 2019, 01:47:42 PM

  • Basic Psychology in Forex Trading in General Forex Discussion_Emilio_Estevez
  • Posts: 189
  • Points: 0
  • Likes Received: 22
  • Reputation: +2/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
The following is the Basics of Psychology in Forex Trading :
1. Nature of openness
Successful forex traders are always open to new ideas. They do not reject the possibility of another idea or system if it can be more effective and profitable. Even though they already have and use the system with profitable trading methods and strategies, they are still willing to try a different system if it looks promising.
2. The nature of wanting to help fellow traders
Successful traders always want to share their knowledge with other traders to help them achieve their goals. They tend to have a sense of togetherness that the more successful should help those who are still struggling. Many successful forex traders become mentors or coach trading for those who need guidance.
3. Prudence
Forex trading requires hard work, both in studying the technical factors of trading and their implementation. Successful traders are always serious about learning everything by preparing themselves to the maximum possible both short and long term.
very precisely what you say, in trading in forex, it is appropriate to have to have 3 main factors that we must have even though there are still many other things we must prepare in controlling emotional psychology in trading, for example greed that sometimes interferes with psychology in trading. In this case, traders really are tempted by other systems that look promising, in my opinion we don't need to look for the best techniques in the world because the compatibility of each trade is different, helping each other according to me is a good thing to get up with and finally we must sangt be careful in this trading also for our success in regulating psychology and other management.



#7 - February 06, 2019, 08:54:54 AM

  • Posts: 6752
  • Points: 308
  • Likes Received: 645
  • Reputation: +10/-5
Basic Psychology in Forex Trading in General Forex Discussion_xx
very precisely what you say, in trading in forex, it is appropriate to have to have 3 main factors that we must have even though there are still many other things we must prepare in controlling emotional psychology in trading, for example greed that sometimes interferes with psychology in trading. In this case, traders really are tempted by other systems that look promising, in my opinion we don't need to look for the best techniques in the world because the compatibility of each trade is different, helping each other according to me is a good thing to get up with and finally we must sangt be careful in this trading also for our success in regulating psychology and other management.


okay, hopefully the existence of this article makes us aware of the importance of trading psychology, because psychology is one of the factors that determine the success of forex trading.
#8 - February 06, 2019, 09:14:04 AM

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 850
  • Points: 5867
  • Likes Received: 98
  • Reputation: +3/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
Psychology trading has high role in trading, although any trader already having good and profitable trading system, but if they having bad psychology trading, hence will difficult to maintain discipline to obey all rules trading, but if we having good psychology trading hence will able to keep discipline with rules trading, so we can running system trading on proper way
#9 - February 06, 2019, 10:28:16 AM

  • Posts: 55
  • Points: 0
  • Likes Received: 26
  • Reputation: +0/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
The following is the Basics of Psychology in Forex Trading :
1. Nature of openness
Successful forex traders are always open to new ideas. They do not reject the possibility of another idea or system if it can be more effective and profitable. Even though they already have and use the system with profitable trading methods and strategies, they are still willing to try a different system if it looks promising.
2. The nature of wanting to help fellow traders
Successful traders always want to share their knowledge with other traders to help them achieve their goals. They tend to have a sense of togetherness that the more successful should help those who are still struggling. Many successful forex traders become mentors or coach trading for those who need guidance.
3. Prudence
Forex trading requires hard work, both in studying the technical factors of trading and their implementation. Successful traders are always serious about learning everything by preparing themselves to the maximum possible both short and long term.

this psychology that I am still difficult to control. I often carry emotions. every time I was in position, my mind was always confused afterwards, very eager to end the transaction. holding back too long in floating profit it feels VERY STRICT
#10 - February 06, 2019, 10:34:19 AM
« Last Edit: February 06, 2019, 11:20:13 AM by Admin »

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 850
  • Points: 5867
  • Likes Received: 98
  • Reputation: +3/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
If in trading you can't control emotion, hence will better trading on the demo account first, learn seriously how to implemented system trading with discipline according the rules, although on demo account not involved emotion, but this useful to learn something about how to start trading, and if want start real account hence micro account is option for beginner
#11 - February 06, 2019, 11:23:07 AM

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 1160
  • Points: 416
  • Likes Received: 157
  • Reputation: +67/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
In terms of maintaining psychology, in my opinion, the key is to keep ourselves calm and comfortable when trading. If we can do this, our minds will be clear so that we can make decisions correctly and correctly. So make ourselves feel comfortable and calm when trading. Do not force it into our market we are having a problem or anything that keeps us burdened
#12 - February 06, 2019, 12:31:05 PM

  • Basic Psychology in Forex Trading in General Forex Discussion_Brad_Pitt
  • Posts: 49
  • Points: 0
  • Likes Received: 5
  • Reputation: +0/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
The following is the Basics of Psychology in Forex Trading :
1. Nature of openness
Successful forex traders are always open to new ideas. They do not reject the possibility of another idea or system if it can be more effective and profitable. Even though they already have and use the system with profitable trading methods and strategies, they are still willing to try a different system if it looks promising.
2. The nature of wanting to help fellow traders
Successful traders always want to share their knowledge with other traders to help them achieve their goals. They tend to have a sense of togetherness that the more successful should help those who are still struggling. Many successful forex traders become mentors or coach trading for those who need guidance.
3. Prudence
Forex trading requires hard work, both in studying the technical factors of trading and their implementation. Successful traders are always serious about learning everything by preparing themselves to the maximum possible both short and long term.
very good, new knowledge again for me, hopefully I will become a professional trader who can have 3 things like you say, openness in trying new things if it is needed as an addition to the technical that is being used, if needed, at the second point has become a mandatory thing for us to help others, more so for mutual cooperation in trading, and the last point is to be careful this is very reasonable because we keep our hard-earned capital and we must guard it carefully. amazing.
#13 - February 06, 2019, 05:35:19 PM

  • Posts: 151
  • Points: 0
  • Likes Received: 57
  • Reputation: +0/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
before entering the market I first noticed the market conditions that I was going to transact, and began to map with support and resistance, so it was not as long as I entered the market, that made my psychology comfortable. then I will look for a certain point to become my open position reference
#14 - February 06, 2019, 09:55:15 PM

  • Basic Psychology in Forex Trading in General Forex Discussion_index
  • Posts: 1047
  • Points: 5672
  • Likes Received: 100
  • Reputation: +4/-0
Basic Psychology in Forex Trading in General Forex Discussion_xx
before entering the market I first noticed the market conditions that I was going to transact, and began to map with support and resistance, so it was not as long as I entered the market, that made my psychology comfortable. then I will look for a certain point to become my open position reference
A great way to keep our psychology comfortable and controlled, sir, I myself also prioritize psychology and patience when trading so that we are not trapped in unfavorable market conditions and avoid greed or doubt.

By using the 3 basic psychological control methods described above, it is hoped that we can better maintain our trading psychology.
#15 - February 07, 2019, 12:34:06 AM

Members:

0 Members and 1 Guest are viewing this topic.


* Share Topic

Share via delicious Share via digg Share via facebook Share via linkedin Share via pinterest Share via reddit Share via stumble Share via tumblr Share via twitter

* Similar Topics

xx
3 basic trading techniques for beginners

Started by Nendi71 on Forex Education

54 Replies
584 Views
Last post October 15, 2021, 06:18:22 AM
by Nesparius
xx
Psychology is the key to success in trading

Started by SilorFX on General Forex Discussion

135 Replies
1454 Views
Last post October 14, 2021, 02:10:50 AM
by self
xx
What are the stages for mastering trading psychology?

Started by instaforex on General Forex Discussion

116 Replies
981 Views
Last post October 15, 2021, 02:37:28 PM
by Cimory
xx
LEARNING TRADING PSYCHOLOGY FROM Richard Dennis

Started by Mohammad Afif on Forex Education

33 Replies
371 Views
Last post Today at 03:02:09 AM
by Wiliam