Many
adults traders who have written about their experiences talked about how the
internal psychological problems caused them losses, even when they knew that
what they were doing was wrong. It is possible that there will be no doubt that
psychological factors are of great importance in the world of Forex trading or
speculation in anything.
Psychological
professionalism deliberative will not bring you money in itself, but that were
not familiar with the ways in which your mind is trying to do on its own, you
are likely to find yourself at a loss even if you are a good trader and right
in the deliberative decision-making. There are hundreds of ways in which the
trader from which to harm himself quietly. Besides myself there for
circulation.
1.
The lack of planning and commitment to the plan
This
point seems very clear. It's not just the development of the plan, but having
many plans and keep some flexibility in too. For example, if you're a day trader,
you should be used to have a way to report in every day any pair or pairs of
currencies will be traded. However, if the pair to your chosen does not move,
while the other couples begins, it may be better to be have the ability to
re-think your decision rather than just a "commitment to the plan,"
perhaps by allowing yourself by having to change your mind option once every
hour . This plan, but they plan also includes some structural flexibility.
2.
lack of appreciation of the difference between planning and implementation
Easy
successful plan put on paper, but it may be quite different when it comes to
the application of the plan. A good example is a plan to do hundreds of trades
in nearly a year, and an expectation that your account is reduced by -20% when
they pass a series of 20 loser trading. Perhaps testing only retroactive almost
day and decide that such unacceptable losses. It is likely to feel quite
differently when they spend weeks or even months in the loss of real money
frequently and monitor your shrink. There is no good solution to this dilemma,
you just have to be aware that the most famous passage of time during the
nearly hour exercise is not psychologically good for the bad times of trading.
3.
fear or excessive trading enthusiasm
These
are two sides of one problem. The best way to avoid this is to tell yourself
every day that you are either ready to do a number of trading or not trading at
all, and that what you do will fully depend on the market situation rather than
put your purse or your mood. There will be days do not contain the movement
days and contain a lot of movement. You have to adapt to circumstances.
4.
dealmaking with the market
Tell
yourself that if the price rose by 10 other points, you will go out of
circulation, or if it did not rise during the next hour, you will go out of
circulation. This is the mind that moves based on fear and lack of logic.
Ignored, proven and does not go out of circulation, but according to plan.
5.
not to show responsibility towards trading
Very
easy excuses mode. The did not miss the bus or if I am not in a bad mood, I
would have dealt with it and made trading profits instead of losses better way.
Your job is to make sure you do not miss the bus or be distracted or be in a
bad mood. When the show responsibility towards all your trades, then you can
improve your mood when you see that there is a way for you to make things
better. This marathon journey, not a sprint.
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