Have you improved your trading psychology?

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
One of the biggest, if not the biggest obstacle, for new traders is psychology. It can make or break your trading and you can only work on improving it through trading, trading and trading in a real account. Improving your trading psychology should at least be given the same consideration and effort as you put into creating your trading strategy.

Keeping a journal may be a great tool for you in order to write down and monitor your progress. Those who ignore the hard work required into making improvements to their psychology are missing out on the biggest factor which will influence your trading results.
 
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Rockefeller

Master Trader
Jul 12, 2013
101
2
57
London
When I started then well.... the most hardest thing was not to break and start gambling. I totally lost myself few times and opened emotional trades and lost it all. I am very happy that my account size was small back then.Then I wrote down my strategy on the paper. Plain and simple and it helped.
 

fx abser

Trader
Nov 5, 2013
17
1
22
signaltoday
Trading psychology is very important tools.it depends only with you.you need to trust yourself.and open a trade which you control.remember the market is here but you out of market
 
Aug 22, 2013
66
2
17
When I started then well.... the most hardest thing was not to break and start gambling. I totally lost myself few times and opened emotional trades and lost it all. I am very happy that my account size was small back then.Then I wrote down my strategy on the paper. Plain and simple and it helped.
Exactly forex is
not a gambling many people start forex as gambling and try their luck but it is not beneficial niether to have trade with emotions as this distract our mind and suffer loss.
 

rrayne20009

Trader
Sep 13, 2013
57
3
17
Exactly forex is
not a gambling many people start forex as gambling and try their luck but it is not beneficial niether to have trade with emotions as this distract our mind and suffer loss.

A trader must have risk management rules to follow to reduce the risk of losing.If a trader can't understand how risk management works,I think there is very big possibility you'll lose everything.
 

PolinaPolly

Trader
May 3, 2018
38
0
12
30
It seems to me that I really become psychologically stronger as time goes. I analyze all my mistakes and sometimes it turns out that it’s because of my nerves, because I was afraid to lose everything and instead of thinking, I closed my orders when it’s not profitable for me. When I realize it, it makes me control my emotions more in the future.
 

Variss

Active Trader
Sep 14, 2015
43
5
44
I think trading psychology can be improved by practicing knowledge and becoming familiar with the market ethics. It needs time to work on this field smoothly. I hope you will improve with the passage of every day if you trade every day. What do you people think in this regard?
 

Miller.d43

Trader
Jul 24, 2018
28
0
12
37
When I started then well.... the most hardest thing was not to break and start gambling. I totally lost myself few times and opened emotional trades and lost it all. I am very happy that my account size was small back then.Then I wrote down my strategy on the paper. Plain and simple and it helped.
This is the most common thing which happens with most of the novice traders, and initially it is hard to control the emotions. but i think with the passage of time our trading psychology improves as we start learning from our mistakes.
 
Jul 2, 2018
9
0
2
38
I would say there has been some improvement in the way I am able to manage my emotions while trading. Though I believe I have a long way to go. When I started trading I struggled a lot with this issue. Most of the times whenever I had a few lucky trades in a row I felt tempted to execute one more trade against my better judgement. Fortunately this is getting better now. So my advice to all traders is to work hard on your trading psychology. It can be the make-or-break factor in trading.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
70
39
34
One of the biggest, if not the biggest obstacle, for new traders is psychology. It can make or break your trading and you can only work on improving it through trading, trading and trading in a real account. Improving your trading psychology should at least be given the same consideration and effort as you put into creating your trading strategy.

Keeping a journal may be a great tool for you in order to write down and monitor your progress. Those who ignore the hard work required into making improvements to their psychology are missing out on the biggest factor which will influence your trading results.
Yes I am! When I was a new trader then I was unable to control my emotion; but now I do meditation in everyday; it helps a lot.
 

Sheldon56

Banned
Apr 18, 2020
41
4
19
33
I used cent account to improve my trading psychology. At first, I lost lot of money due to overtrading. Sometime I closed my trade before hitting SL. I am learning from my mistake.
That's good. Traders who take mistakes as stepping stones and learn from them get closer to success.
 

David_diego

Newbie
Jul 4, 2020
7
1
2
34
Not easy to have the right kind of psychology while trading. I have seen many traders failing because of that. But yeah, one should keep working on it.
 
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Zeenat shein

Banned
Apr 11, 2020
56
12
24
25
The stock market may not have emotions, but as a person, you do. Trading psychology might sound like a made-up phenomenon, but it’s a very real thing. Having a strong base of knowledge about how trading works will set you up to make better decisions, both long-term and on the fly. A strong foundation of knowledge is always a good thing, and it will help you make more informed decisions as a trader.
 
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