Think more, act less
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Thread: Think more, act less

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    Think more, act less

    If it is to be told, i am sure that there are so many traders that fills with the thought of "Had i know" in the market. This is mainly because "they do not think more, but act earlier". Forex trading is a psychological trading, and it is not what any forex trader should take with levity. I believe that the first thing a trader should do is to take trading as a business, if one does that, he will know what to do, and how to do it rightly.

    WHAT IS CAUSING TRADERS TO ACT FASTER?: I am a trader that was in this shoe before, it is mainly because of the mindset of traders, they believe that forex is a place where you can make quick money, but this is wrong. In other word, anxiety is the main issue here, and until a trader could fight this with discipline, things will never be change in his trading career.

    Beside that, it is common among traders to be unable to work with their emotions and greed, they will always want to enter the market over and over again. These acts will not make the best in any trader, except a trader follow a proper disciplinary rules of trading and do obey all the principles of his trading techniques.
    One thing that is causing traders to act faster than necessary is ego and over-confidence in their trading. It is through that some traders has long history of trading, but it is never a good thing to be over-confident, it will not help you, but ruin you. It is good to wait for a matured trading setup, and take the advantage of the market, rather than thinking you have known it all, but letter regret your action.

    HOW DO I ACT RIGHTLY: Before anything else, forex trader should have a good trading system that will have more than 70% winning percentage, and this should not be lower. Also, the trader should have the good trading management and plans that will help him during the difficult trading times. The difficult trading times are time that the market is not definitive in its movement i.e; the times of the ranging and extremely volatile market.

    Having gotten that, you should not under look or overlook your potential and experience in the market. Always make sure that all your parameter are set and the principles of your trading in right shape before you attempt to trade. Also, make sure that you locate the potential risk to reward ratio the position you are entering will entails. Yet, you should ever ask your self this question? "Am a gambling or trading?" And if the answer is trading, then you are good to place the trader. HAPPY TRADING!

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    What a great thread, I have this mistake as well, most times I will spot a trading signal , and I will just enter the market immediately, I do not think this is the right thing for any trader to do anymore. It is better to take trading very serious like business, and by this, I hope more trading professionalism will result to success.

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    Quote Originally Posted by silverlady View Post
    What a great thread, I have this mistake as well, most times I will spot a trading signal , and I will just enter the market immediately, I do not think this is the right thing for any trader to do anymore. It is better to take trading very serious like business, and by this, I hope more trading professionalism will result to success.
    Thanks for the comment, you are sure on what this thread is talking about. To grow in the market, it is never a thing of anxiety of the trader, but the thing that the trading system you are using demands, and the way you are learning real good through it. So, there is no point to trades fats, try to think very well and knwo that you are doing what is right always.

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    70 % winning in trading is much better and needed by the traders, and it will give them some profit and can handle their loses, they need to make a condition and situation that profit is always bigger than losing, then 70 % can keep them stable for it, because sometimes, we just faced some loses or big loses with one or several trades only, but so hard to collect some profit and need many trades

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    Quote Originally Posted by newentry View Post
    70 % winning in trading is much better and needed by the traders, and it will give them some profit and can handle their loses, they need to make a condition and situation that profit is always bigger than losing, then 70 % can keep them stable for it, because sometimes, we just faced some loses or big loses with one or several trades only, but so hard to collect some profit and need many trades
    Yes, that is very correct, when you have a system that is giving you 70% winning percentage all you need is to handle and management it well, because it has already done almost all the job for you. But one thing that is sure is the way the traders builds this up to happen, it is never easy, but it will bring success to the trader when it is carefully observed, and not rush to trade.

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    You have all it take start work in the market as a trader, but if you have the spirit of trading with anxiety, it will never bring out the real you out of you. And I am certain that doing trading will be based on pure working and strength working you. Try to ease your anxiety in the market, and always trade the system you have.

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    Quote Originally Posted by silverlady View Post
    You have all it take start work in the market as a trader, but if you have the spirit of trading with anxiety, it will never bring out the real you out of you. And I am certain that doing trading will be based on pure working and strength working you. Try to ease your anxiety in the market, and always trade the system you have.
    You got it right, the anxiety is the one that kills the traders in this market more than anything else. One thing to do in trading is to be patient and calm, all other things you know will now come at their own professional ways, do not do the things that you will later regret. Still, you should not be too dull in the market, but faster traders are always regretful traders.

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    Nice topic, I think many traders who are still stuck in this situation, sometimes even up to now I still do carelessness simply because of psychological factors, this happens when I actually get great pressure that forced me to chase the target, we can not force it to always chase our targets in all market conditions, there are times the market moves fast and strong, there are times the market moves very slow and difficult for me, so it is bad for always wanted to enter the market in all times.

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    If you lose, be patient. If you win, stay humble

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    Quote Originally Posted by rinaji View Post
    Nice topic, I think many traders who are still stuck in this situation, sometimes even up to now I still do carelessness simply because of psychological factors, this happens when I actually get great pressure that forced me to chase the target, we can not force it to always chase our targets in all market conditions, there are times the market moves fast and strong, there are times the market moves very slow and difficult for me, so it is bad for always wanted to enter the market in all times.
    If a trader is having a good trading system, he should not joke with it, and he should not be over confident, no one sees trading in the manner that is good and still lose focus. That mind is good for trading, traders should not act too fats, but there is nothing bad in acting fact, but the trader must be very sure of all parameters before doing that.

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    Good thread I think its very important to know that we are a gambler or a trader in this market. We don't have to play any gambling first of all and have to do trading within our limitations in forex. Its very important to keep you confidence level also in good position because most of time a trader try to become overconfident after few winnings but that's not success at all

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