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Thread: How to improve our psychology control in trading?

  1. #1
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    How to improve our psychology control in trading?

    Expert traders need to control psychology in trading, but the question is how to train our psychology so we can trade not only following emotion. I think almost all traders have known the theory about psychology control but in reality, it is not easy to control it well especially when condition of market is different with our expectation as our first analysis. So what do you think about improving our psychology control? How to do it and how to know that our psychology has been improved? Feel free to express your opinion here.

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  2. #21
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    Quote Originally Posted by Ashviniurs View Post
    Indeed it is very much important for all the traders to control their emotions when they are trading in the forex market such that making good gains becomes possible for the traders. It takes high aspiration and strong determination to control the traders emotions while trading in the highly risky forex market such that one can be able to make sure that they can control their trading emotions.
    If there is proper money management so the risk of trading is not high risk anymore because trader can limit the risk in every transaction. But still, emotion control is needed in trading because psychology of trader will move trader to open or close position, and it is possible to break the rule when the market looks promising to open position.

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  3. #22
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    Quote Originally Posted by techboy View Post
    Good knowledge, good approach can somehow give us a good start in controlling our emotions during trading, following a very good and specific strategy can some how make us a discipline trader, repeating psychological exercise over and over again can somehow help us control our emotion, there is a lot in youtube. It will be a long process before we can achieve psychological stability during trading.
    You are right if we will set all the things correctly at the time of trading then we will never got this type of problem in trading. Psychological factor is one of the important factor of our business. Any wrong trading psychology will bring negative result in our trading. The best thing will be to concentrate on a good trading management

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  4. #23
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    Quote Originally Posted by andry777 View Post
    If there is proper money management so the risk of trading is not high risk anymore because trader can limit the risk in every transaction. But still, emotion control is needed in trading because psychology of trader will move trader to open or close position, and it is possible to break the rule when the market looks promising to open position.
    True, proper money management must be implemented by trader to lessen the risk, but if a trader is not psychological prepared in conducting his trades then it is possible that he will violate his trading rule that can give more loses to his account, proper technique must be combined with discipline implementation all the time. One mistake can bring damage in one's trading account.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  5. #24
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    Quote Originally Posted by techboy View Post
    True, proper money management must be implemented by trader to lessen the risk, but if a trader is not psychological prepared in conducting his trades then it is possible that he will violate his trading rule that can give more loses to his account, proper technique must be combined with discipline implementation all the time. One mistake can bring damage in one's trading account.
    Trader can be discipline with the trading plan if he is confident with the planning which he has made. It will improve confidence in trading if trader did a lot of practices in many different condition of market. No one can trade well without proper money management because no trader who can win in every transaction so money management will limit profit and loss which can happen in each transaction.

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  6. #25
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    the important point is to ensure that you under control of your time, psychology and money. Since many trader cant control that 3 things and start to blaming on the forex. There is a lot of experience trader really know how to combine this 3 things so they can survive in the forex market.

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  7. #26
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    Quote Originally Posted by ngalapreceh View Post
    the important point is to ensure that you under control of your time, psychology and money. Since many trader cant control that 3 things and start to blaming on the forex. There is a lot of experience trader really know how to combine this 3 things so they can survive in the forex market.
    It is important thing to have proper trading plan which contain good time for trading, preparation on proper money management in each transaction and using proper risk management to prevent big loss in single transaction. I think it's depending on trader himself to blame forex or other thing like condition of market, strategy, and probably indicator when the analysis was wrong.

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  8. #27
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    Using what religion offers to humanity. Religion is the good alternative for trader in healing self. Religion give people spirit and motivation when people in frustrated and depression moment. There will be no suicide because of frustrated and depression if people learn the lesson from religion.

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  9. #28
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    Quote Originally Posted by rinaji View Post
    Hi dear, I am including a trader who has difficult in control psychology, even I've lost my mind to be able to have a good psychology, but then I tried to change the style of trading, I became a long term trader, and after one year I feel many changes in myself, especially in terms of trading psychology, and then I tried to short term trading again, I actually already have significant psychological changes, this is my experience in changing the psychological condition.
    All traders have one or two short-come that is similar to this one. But the main thing is to be sure of what you are doing and what you know the best to do. Try to tabulate your own trading plans, this will help you to know what you want in the market and what you set to achieve by doing it. Determination and discipline will help you so much if you can give it a chance.

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  10. #29
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    Quote Originally Posted by andry777 View Post
    Trader can be discipline with the trading plan if he is confident with the planning which he has made. It will improve confidence in trading if trader did a lot of practices in many different condition of market. No one can trade well without proper money management because no trader who can win in every transaction so money management will limit profit and loss which can happen in each transaction.
    Agree, risk management is as equally as important in having a good strategy, but I just have to emphasize that most traders fail in their effort to implement good strategy and risk management if they are not psychologically in a sound state of mine, so we must take all that are mentioned if we want to succeed in these market.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  11. #30
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    Quote Originally Posted by cozard007 View Post
    All traders have one or two short-come that is similar to this one. But the main thing is to be sure of what you are doing and what you know the best to do. Try to tabulate your own trading plans, this will help you to know what you want in the market and what you set to achieve by doing it. Determination and discipline will help you so much if you can give it a chance.
    There are no short cut in forex trading. All need time, even long time to be success. Some trader need little time to improve psychology in trading, but some trader need more longer time to improve psychology in trading. As adult stages of people. The age do not indicate the adult stage of people.

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