WaveExpert

10 Most Common Psychological Trading Issues!

FX:GBPUSD   British Pound/U.S. Dollar
2691 46 112
Here is a list of Psychological Issues which a trader face in trading world! If you are able to overcome these situation you will become a good trader!
Comment: 1. Fear Of Being Stopped Out Or Fear Of Taking A Loss:
The usual reason for this is that the trader fears failure and feels like he or she cannot take another loss. The trader’s ego is at stake.


2. Getting Out Of Trades Too Early:
Relieving anxiety by closing a position. Fear of position reversing and then feeling let down. Need for instant gratification.


3. Wishing And Hoping:
Not wanting to take control or take responsibility for the trade. Inability to accept the present reality of the market place.


4. Adding On To A Losing Position (Doubling Down):
Not wanting to admit your trade is wrong. Hoping it will come back. Again, ego is at stake.


5. Anger After A Losing Trade:
The feeling of being a victim of the markets. Unrealistic expectations. Caring too much about a specific trade. Tying your self-worth to your success in the markets. Needing approval from the markets.
Comment: 6. Trading Too Much:
Need to conquer the market. Greed. Trying to get even with the market for a previous loss, which lead towards bigger loss.

7. Not Following Your Proven Trading System:
You don’t believe it really works. You did not test it well. It does not match your personality. You want more excitement in your trading. You don’t trust your own ability to choose a successful system.

8. Not Trading The Correct Position Size:
Dreaming the trade will be only profitable. Not fully recognizing the risk and not understanding the importance of money management. Refusing to take responsibility for managing your risk.


9. Trading With Money You Cannot Afford To Lose Or Trading With Borrowed Money. Last hope at success. Trying to be successful at something. Fear of losing your chance at opportunity. No discipline. Greed. Desperation.

10. Over Thinking The Trade, Second Guessing Your Trading Signals:
Fear of loss or being wrong. Wanting a sure thing where sure things don’t exist. Not understanding that loss is a part of trading and the outcome of each trade is unknown. Not accepting there is risk in trading. Not accepting the unknown.
Comment: Note: There are some rules & things which can help you to overcome these situations! if you people ask I will post that too!

Anyways,
Goodluck.

Related Ideas

Thank you very much! I <3 it!
+1 Reply
You're welcome!
+2 Reply
and dont trade > 1% of your trading account per trade to stay alive :)
+5 Reply
Thumbs up!!
+4 Reply
Michelok PRO WaveExpert
:)
+1 Reply
You have given the puzzle but not the solution. According to me one solution is trade only once in a month. That also by daily and weekly charts.( But unfortunately even I cannot be disciplined to my own rule !.That is the magic of trading !! )
+2 Reply
Some people can't wait that long & some do! Some people can't afford to trade Daily Weekly charts due to some reasons! So Every trader has its own mind of trading.
+2 Reply
Thanks
+1 Reply
WaveExpert PRO GodwinAkpotu
Welcome!
+2 Reply
Thank you so much!
Reply
WaveExpert PRO ForexHunter007
welcome
+1 Reply
"The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind" --Gordon Gekko
+2 Reply
WaveExpert PRO Wave-Expert
Gordon Gekko might have some reasons behind his observations!
+2 Reply
What if im angry about my daily life .im angry about the ppl i know. im angry about my girlfriend. please explain
+1 Reply
Then you should cool yourself down and then think of trade!
+2 Reply
Calamity WaveExpert
but what if those ppl do not let me cool down , they keep hit me
Reply
nhlevi PRO Calamity
@Calamity, everything is decided in YOUR head. Theres nothing such that people don't let you calm down. Only you can let yourself calm down and trade properly. Meditate dude, just sit down for 10 minutes
Reply
Calamity nhlevi
@nhlevi, THANKS
Reply
Calamity nhlevi
@nhlevi, what if your parents says stop trading and buy a house.
Reply
nhlevi PRO Calamity
@Calamity, can you afford doing either one? Are you a grown man responsible for your own decisions?
Reply
Calamity nhlevi
@nhlevi, ican, but this saying from my parents instantly hurt my trading results. eg. i have 2 attempts already on the gbpusd pair last week, and after lots of argues i was exhausted. i cancelled my short position on gbpusd @1.2727 and last weeks high was 1.2728. u see what a joke, yes i didnt make any money , and i have also lost few pips on those 2 attempts. if my strategy is 3-1trade, then next week i will make another 2 attempts and win 3 right? however plus last weeks 2 attempts theres totally 4 attempts. so even i win next time , its still making me on a losing position. 3-4= -1 right?
Reply
nhlevi PRO Calamity
@Calamity, you surely know you can't count on the expectation that you'll win at least X out of YX trades so that you RR keeps you afloat. Sometimes you'll win more, sometimes less. As you accept your parents' statement and continue to take the same trades as you normally would, you'll be back to normal in no time. I'm still down 33% from a 4 month drawdown that I produced because I accepted some of the hardest facts of trading. But now I know what I can do and I'm earning my dollars back.
Reply
Calamity nhlevi
@nhlevi, idk, but i know if my tradings is not consistent, it will hurt my acct in longer term. in ur dream it will be fine though .
Reply
Calamity nhlevi
@nhlevi, i use the approximation only
Reply
Calamity nhlevi
@nhlevi, because my direction is right 99% of times , surely u not understand what im talking about. coz u may now in a stage even cant get directions right>? lol my losses r from my tight stop losses strategies and attemptions. I need to enter at a exact position that wont stop me out. thats why i have more attemptions . my results all calculated lol
Reply
Thanks a lot...
pls post the rules also to overcome such situation...
+3 Reply
Sure I will try to post that soon!
+1 Reply
Thanks for pointing out!
+1 Reply
:)
+1 Reply
Nice Work as Always!
Reply
WaveExpert PRO ForexHunter007
Thanks
+1 Reply
Can you share your rules?
+1 Reply
Sure! I will post that soon!
+1 Reply
Thank you.
I am waiting for the RULES ;)
+1 Reply
WaveExpert PRO AhmedKhattab
Sure! :)
+2 Reply
needed this! thank you!
+1 Reply
WaveExpert PRO Goldmouse22
:)
+1 Reply
Thank you Sir
Reply
Welcome
+1 Reply
these 'buzzfeed' posts are taking credibility away from tradingview
+1 Reply
Thank you so much!!
Reply
WaveExpert PRO guti142008
You're welcome!
+1 Reply
I have been a broker for most of the eighties, and I can only agree with your post.
happy trading
+1 Reply
Glad to hear that! Happy trading!
+1 Reply
I faced it.. thank you very much
+1 Reply
WaveExpert PRO ImNinjaTurtle
Reply
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