😌 If being smart was enough, there would be a lot of people making money.
But in Forex trading, psychological control is essential for success.
Almost everyone participating in the market knows that "we need to control our trading psychology" and its importance, but knowing is one thing, being able to do it is another.
🙂Controlling trading psychology is one of the most important skills in financial investment in general and Forex investment in particular. The more experienced traders become, the more they understand the importance of controlling trading psychology.
📖I want to share a few things from my many years of experience about controlling psychology in this market.
👉I have had times where I traded diligently, made a small amount of money every day and then blew all my profits overnight, even with just one trade.
- After such times, I wasn't even afraid, on the contrary, I was still determined to win at all costs. But you already know the result.
- I kept my eyes glued to the screen, glued to the orders I was trading, my heart rate = skyrocketing according to the numbers.
- That not only affects my daily work but also affects my health and life a lot.
- Many times I stay up until the morning to watch the midnight Fed report and if nothing changes then I look for trading opportunities as usual.
⚡️When I'm lucky, I have a few winning orders and feel very comfortable.
And when I'm unlucky (that's what I thought at the time), having to receive consecutive losing orders makes me always in a state of stress, irritable, and just waiting to explode.
It's time for me to understand that, to survive in this harsh Forex market, I need to find a way to control my psychology so I no longer fall into wrong trading decisions that make me regret it.
Of course, many of the proposed options do not come at the same time.
⚡️Then I realized that I needed more specific, stronger actions to do that, not just words to myself.
⚡️ I wrote out sticky notes and stuck them right on the screen in front of me so I could always keep them within reach
eyes: "Mandatory things to follow to control psychology".
If that is also the problem you are facing, this article is for you.
I have applied them and clearly noticed the positive changes they bring.
1. STOP TRADING WHEN YOU HAVE A STRAIN OF CONSECUTIVE LOSING ORDERS
⚡️This is an extremely effective way to control psychology in Forex trading, helping to control emotions and keep your psychology intact.
you are back to normal.
⚡️Not only you or me, but all longtime Forex traders in the world have experienced losing streaks consecutive.
⚡️ Simply because Forex trading is a "game" of probability. Maybe you are using a trading system that has a winning probability of up to 80% and has been proven in a long time.
⚡️ That doesn't mean you won't have a streak of 5 or 10 losing trades in a row, even
even longer than that.
⚡️Seriously, when you have a great trading system with a winning rate of up to 80%, it means With 100 trades, you only gain 20. But you cannot know where those 20 losing orders are among the 100.
⚡️ We are just normal people, most of us can't keep it
mentally calm and just want to reclaim what was lost, immediately.
That is also the time when your trading psychology gradually loses control.
⚡️You want to enter the order immediately, even if the conditions of the trading system have not been satisfied.
⚡️Not only that, you also increase the transaction volume several times to... remove it quickly.
⚡️Of course, you continue to make mistakes. But when you make a mistake, bad things will come rushing back. When you wake up, your account is gone what else.
⚡️That's it, when you fall into a series of consecutive losses, try to look at the PIECE OF PAPER RECORDED ON THE SCREEN, you trading needs to be stopped, IMMEDIATELY.
⚡️Instead, step outside, take a few walks to regain your composure, and absolutely do not turn on the computer until when you feel like you're really okay.
⚡️I will continue to update part 2 to wish you effective trading.⚡️
But in Forex trading, psychological control is essential for success.
Almost everyone participating in the market knows that "we need to control our trading psychology" and its importance, but knowing is one thing, being able to do it is another.
🙂Controlling trading psychology is one of the most important skills in financial investment in general and Forex investment in particular. The more experienced traders become, the more they understand the importance of controlling trading psychology.
📖I want to share a few things from my many years of experience about controlling psychology in this market.
👉I have had times where I traded diligently, made a small amount of money every day and then blew all my profits overnight, even with just one trade.
- After such times, I wasn't even afraid, on the contrary, I was still determined to win at all costs. But you already know the result.
- I kept my eyes glued to the screen, glued to the orders I was trading, my heart rate = skyrocketing according to the numbers.
- That not only affects my daily work but also affects my health and life a lot.
- Many times I stay up until the morning to watch the midnight Fed report and if nothing changes then I look for trading opportunities as usual.
⚡️When I'm lucky, I have a few winning orders and feel very comfortable.
And when I'm unlucky (that's what I thought at the time), having to receive consecutive losing orders makes me always in a state of stress, irritable, and just waiting to explode.
It's time for me to understand that, to survive in this harsh Forex market, I need to find a way to control my psychology so I no longer fall into wrong trading decisions that make me regret it.
Of course, many of the proposed options do not come at the same time.
⚡️Then I realized that I needed more specific, stronger actions to do that, not just words to myself.
⚡️ I wrote out sticky notes and stuck them right on the screen in front of me so I could always keep them within reach
eyes: "Mandatory things to follow to control psychology".
If that is also the problem you are facing, this article is for you.
I have applied them and clearly noticed the positive changes they bring.
1. STOP TRADING WHEN YOU HAVE A STRAIN OF CONSECUTIVE LOSING ORDERS
⚡️This is an extremely effective way to control psychology in Forex trading, helping to control emotions and keep your psychology intact.
you are back to normal.
⚡️Not only you or me, but all longtime Forex traders in the world have experienced losing streaks consecutive.
⚡️ Simply because Forex trading is a "game" of probability. Maybe you are using a trading system that has a winning probability of up to 80% and has been proven in a long time.
⚡️ That doesn't mean you won't have a streak of 5 or 10 losing trades in a row, even
even longer than that.
⚡️Seriously, when you have a great trading system with a winning rate of up to 80%, it means With 100 trades, you only gain 20. But you cannot know where those 20 losing orders are among the 100.
⚡️ We are just normal people, most of us can't keep it
mentally calm and just want to reclaim what was lost, immediately.
That is also the time when your trading psychology gradually loses control.
⚡️You want to enter the order immediately, even if the conditions of the trading system have not been satisfied.
⚡️Not only that, you also increase the transaction volume several times to... remove it quickly.
⚡️Of course, you continue to make mistakes. But when you make a mistake, bad things will come rushing back. When you wake up, your account is gone what else.
⚡️That's it, when you fall into a series of consecutive losses, try to look at the PIECE OF PAPER RECORDED ON THE SCREEN, you trading needs to be stopped, IMMEDIATELY.
⚡️Instead, step outside, take a few walks to regain your composure, and absolutely do not turn on the computer until when you feel like you're really okay.
⚡️I will continue to update part 2 to wish you effective trading.⚡️
⚡️ With your trading system having a certain winning rate, there will be times when you encounter a series of consecutive winning orders. In contrast to consecutive losing orders, this is good news for you.
⚡️ Maybe your trading system is becoming more perfect, reaching its optimal level, or maybe you are lucky because the market conditions at this stage support you.
⚡️ No matter what, you should think in the second direction. Winning multiple wins in a row is definitely exciting. But that joy often brings negative consequences in Forex because your trading psychology is easily affected.
⚡️ A series of consecutive winning orders makes you feel subjective and complacent about yourself and about the 1-0-2 trading system in the world.
⚡️Then unconsciously, you easily increase the trading volume in the next orders with the expectation that this time you will win big.
But life is not like a dream!
⚡️And that's exactly what I myself have experienced in the past. I'll describe that image for you:
⚡️I am a Forex trader, I have just experienced a series of consecutive winning orders and surely you can also expect how excited my psychology is.
It's no exaggeration, I feel like I really have a trading system that can beat the market.
⚡️I am very confident with the feeling that every time I place an order, I will win. So, this time I decided to go a little bigger, well, a little bigger. Either way wins, why not choose to eat.
⚡️Therefore, when we get used to placing orders and winning, it is difficult for us to accept a losing order, especially a losing order with "LARGE VOLUME".
⚡️ So when the price started going in the opposite direction, I decided to move my stop loss a little further.
⚡️ But the price continued to "chase" my stop loss order, which made me decide... to extend the stop loss with the mentality of "definitely not giving up".
⚡️ The market went against me with a very strong trend, until I couldn't bear to lose anymore, I decided to cut my losses, with the minimum amount in my account.
⚡️ So this mistake took away the profits I made from my previous winning streak. There is a saying: "If you search for firewood for 3 years, it will burn in 1 hour".
⚡️ You see, only a lack of psychological control and letting emotional stress dominate your trading will create the end result of losing money.
⚡️ So when you have a winning chain link, you have to be even more careful in your subsequent trades about the order volume trading conditions.
⚡️ With that series of winning orders, you have earned a significant profit, even reaching your monthly profit target. So it is better to reduce the trading volume.
⚡️ If we keep winning then that's great. However, if those are loss-making orders then you have definitely reduced the quantity significantly.
Always remember, never let your psychology and emotions become too excited after winning an order, because that is taboo in Forex trading.