In this video, you will understand the importance of trading psychology forex trading. In trading, psychology is the key factor that plays a role in moving the markets. Fear and greed are the two factors that drive the markets. So, overcoming them is extremely important to be a successful trader.
Because traders find it difficult to follow trading discipline, overcoming fear and greed, they think it is better to leave trading with robots like expert advisors that can better handle the trades. The more they intervene with trades, they end up changing the trading plan, trading strategy, etc.
Traders often fear when there is mass selling. The example is the bitcoin bubble, from $100 to $20,000. Since then, bitcoin fell, and created panic, and then mass selling. As a trader, you must have developed your trading skills to control your emotions and follow strictly the trading plan. If you get greedy after a few wins, wait, there are going to be a series of losers. So, overcoming greed is also extremely important. So, you must develop your psychology and develop a trader's mindset to become a successful trader.