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Thread: What mental do we need ?

  1. #1
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    What mental do we need ?

    what mental do we need to be a good trader ?

    many of traders want to be a good traders, and of course, this is the main aim for us that why we came to this business, but many of us forgot for this one thing, we seldom prepare it before with well and just enter and join to this business directly

    then why, many of us got the hard situation and not ready to accept some condition that had dried their mind to think with clearly. some loses in hands and emotion came up easily to drive the mind, and as the results, not the advantages that we got from it, but we just suffered with loses in hands, frustration and let the emotion drove the mind,

    this is a dilemma for them, but this is the facts,
    and so now, what the thing we need to prepare for this condition, what mental have we prepared for this business ?

    forex is a business, we came to this business for making good career, so we have to think as the businessman too, where good mental is very required

    and the next question is, what mental is good for business ?

    the businessman will face some condition in the field. some are good and some are bad, but they understand that is not easy to change the condition from bad to good or they have to control it with well,

    they have to have good mind and mental for this, never let the emotion play the role to disturb their plan
    there are some points that have to had by them

    1. never think that a bad condition will always give bad results, and even think that it is the step for them to get a better level for next step
    2. get ready to accept all the results with gracefully and even for the worst one, so they can rise to complete them
    3. always take all the steps and results as their full responsibility, and never blame them to the others
    4. never give up for some condition because they knew that they have not yet used their best performance for doing business
    5. always think with realistic, and consider to take the target as easy as they can and then repeat it
    6. have a good mindset and always think to develop themselves, and it is a must
    7. always play with good rules,never take the risk when they have not yet ready for it but they always think for how to get more ( not greed )

    some items above is good for us and maybe it is useful to open our eyes and mind and think about them,
    because we came to this place for making business,

    please dear members, add for some items to complete them and hope that it will become a good motivation for all of us
    thank you very much

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  2. #21
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    Quote Originally Posted by shivanandfx View Post
    Forex is a business of the mind. Greed and fear should be avoided. Greed is more manageable than fear because fear just won't allow a trader to take action in the first palace whereas greed tends to ask for more when what is already available is good enough. Bottomline is that both are dangerous to a trader.
    [lang=id]both of them are not good and part of emotion and we knew that there is no goodness with them and even i heard that someone need greed to get good results, i never thought about it,
    well, i almost have same opinions with you that both of them became the obstacle for traders to grow up, make a right decision and manage the business with well[/lang]

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  3. #22
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    Quote Originally Posted by samprazaan View Post
    [lang=id]both of them are not good and part of emotion and we knew that there is no goodness with them and even i heard that someone need greed to get good results, i never thought about it,
    well, i almost have same opinions with you that both of them became the obstacle for traders to grow up, make a right decision and manage the business with well[/lang]
    One psychological coach once said that greed is good as long that it is part of your trading strategy, if a trader is already a very discipline trader and has a very good strategy and plans to implement high risk trading, but for beginners that desire to win big but still dont possess a very good trading skills then its definitely a big NO.

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

  4. #23
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    Quote Originally Posted by techboy View Post
    One psychological coach once said that greed is good as long that it is part of your trading strategy, if a trader is already a very discipline trader and has a very good strategy and plans to implement high risk trading, but for beginners that desire to win big but still dont possess a very good trading skills then its definitely a big NO.
    A disciplined trader can never be greedy trader and vice versa. I am not looking to be rich overnight because I know so well that it would leave me poorer before the next night! All the successful trades I admire got to the height that currently are one step at a time and that is what I am up to.

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  5. #24
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    Quote Originally Posted by techboy View Post
    One psychological coach once said that greed is good as long that it is part of your trading strategy, if a trader is already a very discipline trader and has a very good strategy and plans to implement high risk trading, but for beginners that desire to win big but still dont possess a very good trading skills then its definitely a big NO.
    i am not sure about it, and if the trader keep their greed and insert it as a part of strategy, so i guess it will become their time bomb and will blow up their account one time, so i guess better for me to think with realistic, and if want to get more just need to increase my trading quality

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  6. #25
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    Trading and generate profit requires strong mental, my achievement as a beginner, trading and profit if it is of course no traders who are frustrated due to a margin call and loss . Despite this difficult trading but trading methods can be learned, provided there is a will work hard with discipline. over time and the process of learning by itself profits can be achieved even if gradually.

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  7. #26
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    Quote Originally Posted by techboy View Post
    One psychological coach once said that greed is good as long that it is part of your trading strategy, if a trader is already a very discipline trader and has a very good strategy and plans to implement high risk trading, but for beginners that desire to win big but still dont possess a very good trading skills then its definitely a big NO.
    [lang=id]i guess it meant about how to maximize their earning from forex trading and not about how to let the greed over control the mind for trading forex, because i see that so danger to trade on this condition where the greed or emotion drive the mind,
    so maybe this was another terms or phrase ?[/lang]

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  8. #27
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    Quote Originally Posted by samprazaan View Post
    [lang=id]i guess it meant about how to maximize their earning from forex trading and not about how to let the greed over control the mind for trading forex, because i see that so danger to trade on this condition where the greed or emotion drive the mind,so maybe this was another terms or phrase ?[/lang]
    It is big danger when emotions drive our mind. People always say to win in trade Forex is very difficult but it is not for all trader. Difficult is for ignorance trader. Your one opinion I support sometimes loss is work as a lessons . You have learn about Forex. You have to practice everyday.

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  9. #28
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    Quote Originally Posted by shivanandfx View Post
    A disciplined trader can never be greedy trader and vice versa. I am not looking to be rich overnight because I know so well that it would leave me poorer before the next night! All the successful trades I admire got to the height that currently are one step at a time and that is what I am up to.
    I don't think that so I think we should talk about our trading experience that can help us to avoid our greed in forex. By getting right trading experience we can know well that how we have to do trade in forex. And it can give us a good trading psychology too. Some time disciplined trade could also become emotional but a good experienced trader can solve this problem.

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  10. #29
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    Quote Originally Posted by ngalapreceh View Post
    Trading and generate profit requires strong mental, my achievement as a beginner, trading and profit if it is of course no traders who are frustrated due to a margin call and loss . Despite this difficult trading but trading methods can be learned, provided there is a will work hard with discipline. over time and the process of learning by itself profits can be achieved even if gradually.
    [lang=id]good mental will make the traders feel easy to accept all the results, not go frustrating with the results, but even they take them as the best lesson, and it will help them to open the next door for success,
    strong mental is needed by us, with this way, we can handle some condition where fear come up, and also we can handle unwanted condition with clear mind too[/lang]

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  11. #30
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    Quote Originally Posted by samprazaan View Post
    [lang=id]good mental will make the traders feel easy to accept all the results, not go frustrating with the results, but even they take them as the best lesson, and it will help them to open the next door for success,
    strong mental is needed by us, with this way, we can handle some condition where fear come up, and also we can handle unwanted condition with clear mind too[/lang]
    You are right sir, that is why traders should not be thinking anyhow while trading, if they are mentally stabilized, they get to get the best success and results in the market. This would also make trader to follow the pattern and plans they have devised to trade in the market. Trading is very easy, it depends on how we are handling it, most especially the psychology aspect.

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