Keep yourself away from greed and emotion because they are harmful. You must not be greedy about Forex trading because it will work as an obstacle to the way of earning profit. FXOpulence never delays in sending back withdrawn payments and they charge comparatively tighter spread.
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Bad qualities result in bad trading
- Thread starter Hardson
- Start date
VasilTodorov
Well-known member
that is correct
you also need great tools in your trading and without having those tools you will not definitely be able to do it
you also need great tools in your trading and without having those tools you will not definitely be able to do it
Fin_Trader
Well-known member
It is very important to consider psychological aspects when trading. A trader may have a good trading strategy, but if he is greedy, undisciplined, cannot wait for the conditions of the strategy to enter a trade and tries to immediately compensate for the loss, then such trading will not be successful and will always be unprofitable.
According to my experience, allowing emotions such as greed, fear, or impulsiveness to drive trading decisions often leads to poor outcomes. Lack of discipline, failure to adhere to risk management principles, and a gambling mindset can also contribute to bad trading results. Developing self-awareness, controlling emotions, and maintaining a disciplined approach are crucial for achieving consistent success in trading.
Fin_Trader
Well-known member
You can increase the level of risk only if your calculations give a positive result over a sufficiently long period of time. Only your trading statistics can show this. But often when beginners just start to succeed, they immediately increase the risks in trading. This only leads to loss of deposits.
benji177
Well-known member
That is true, I always make such moves based on my available capital and I assume the worse always, and if I see that I can take a loss right now, in my eyes it's worth trying, if the stats support my move.
VasilTodorov
Well-known member
if you do not set everything in the best way you will definitely lose in this market so set best standards
Fin_Trader
Well-known member
Yes, you should always try to improve your trading by constantly upgrading your trading strategy so that there are fewer errors and false signals when trading it. We also need to control risks and our emotions, because the lack of control also often prevents us from earning a profit.
You quote something general about risk management and emotion, then randomly just promote a broker like it's normal??
Polakandil
Well-known member
Maybe there are not only one or two traders who have experienced similar mistakes, being greedy with unrealistic targets, or rushing after the first target is met and still wanting to get more. in this case, controlling emotion supports traders in making quality trading decisions, this has entered the realm of trading psychology, and because of this, each trader has a different level of psychology. There are theory that says trading is 80% psychology and 20% strategy.
Fin_Trader
Well-known member
I agree with you. Many people say: give different people the same trading strategy - some will make money using it, others will lose their money. And this happens precisely because of the psychological and emotional aspect in trading, when many, due to their haste, greed, passion, fear of loss and indiscipline, will receive losses even if the strategy is quite profitable if all its rules are followed.
Before entering Forex trading, a trader has to amend his psychology because weak psychology influences a trader to take wrong decision. If a trader can't control his emotion, he is prone to making recurring mistakes. The educational resources provided by the LQDFX broker helped me recover my wrong practices.
Ovidio Lettiere
Member
Bad qualities such as lack of discipline, impulsiveness, and emotional decision-making can lead to poor trading outcomes. They may result in deviating from a trading plan, taking excessive risks, and failing to manage losses effectively. Over time, these bad trading habits can undermine profitability and consistency, highlighting the importance of cultivating good qualities like discipline, patience, and emotional resilience in trading.
Fin_Trader
Well-known member
We should always analyze our mistakes and find their causes. This will allow us to gradually improve our trading strategy and avoid the same type of mistakes and losses in the future.
To a degree, yeah!
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