Search Result (35 Snaps)

A Trader’s Self-Evaluation Checklist | PL: 2  Category: General | Comments (0) 2010-09-06 08:52:14 Natural size A Trader’s Self-Evaluation Checklist 1. What is the quality of your self-talk while trading? Is it angry and frustrated; negative and defeated? How much of your self-talk is market strategy focused, and how much is self-focused? Is your self-talk constructive, and would you want others to be talking with you that way while you’re trading? 2. What work do you do on yourself and your trading while the market is closed? Do you actively identify what you’re doing right and wrong in your trading each day—with specific steps to...   Tags: trading psychology, forex trading   Member: Jane | 12 Snaps

Online Trading And Your Own Trading System | PL: 13  Category: General | Comments (0) 2010-08-11 08:05:32 Natural size Online Trading And Your Own Trading System Whatever trading system you have developed or using, each trading system requires a certain period of optimization parameters, analysis tools, rules of trade. Don’t forget that by combining different types of market analysis, tools and instruments increases the accuracy of finding points of entry or exit and at the same time gives you more chances for successful trading and making profit. You should also pay attention on what technical tools are used by professional traders and how they...   Tags: trading system, psychology, analysis tools, forex trading   Member: Belinda, capetown | 5 Snaps

Failing To Cut Losses Short | PL: 9  Category: General | Comments (0) 2010-08-03 07:53:19 Natural size Failing To Cut Losses Short The failure to accept and take losses is the most frequent mistake by currency traders. Traders must accept the fact that losses are a permanent part of their trading existence. Taking controllable losses are just part of trading but most struggling traders spend their entire trading career to run away from losses, it's hard for them to accept they can be wrong. Taking a loss does not always mean you were wrong in your trading decision but it can tell that your timing in entering the...   Tags: Trading Psychology, stop loss order, successful currency trading   Member: Ola, Örebro | 7 Snaps

Key Timing Builds Trader Confidence | PL: 9  Category: General | Comments (0) 2010-07-29 08:03:12 Natural size Key Timing Builds Trader Confidence Written by Rick J. Ratchford Without a doubt, trading is 90% psychological and 10% technique. Without the proper mindset and attitude, the best trading technique does not stand a chance against a mind that is uncertain, afraid or greedy. The wrong attitude, the lack of real confidence, will assert its influence on any given trade and distort reality, resulting in making bad decisions and costly mistakes. There can be several reasons that affect how a trader sees each trade or the market...   Tags: trading psychology, forex trading, mindset   Member: Robert, Australia | 10 Snaps

The Advantages of Trading Alone | PL: 11  Category: General | Comments (0) 2010-07-27 08:14:57 Natural size The Advantages of Trading Alone People sometimes experiment with the idea to trade with other people. It might work, but for me, it did not. I trade alone. The advantages of trading alone are: 1. You are free to make your own decisions without having to find a way to explain the rationale of your decisions to anybody else. Your time and effort can be focussed on what the market is doing and how you react to it, instead of worrying about the psychological and emotional dynamics of a trading group. 2. You are free to...   Tags: forex trading, trading psychology, forex basic   Member: EF | 53 Snaps

Learn Forex – Hoping, Wishing, and Praying in Forex Trading | PL: 7  Category: General | Comments (0) 2010-07-19 07:50:03 Natural size Learn Forex – Hoping, Wishing, and Praying in Forex Trading Many traders in the forex market (and any speculative financial market, for that matter) often find themselves in the unenviable position of hoping, wishing (and sometimes praying) that a particular trade will go their way. Usually, this occurs when a trade has gone horribly wrong and the trader refuses to let go. Needless to say, more often than not, hoping, wishing, and praying just don’t work when trading forex. The one thing they do accomplish, however, is to make the act of trading...   Tags: Learn Forex, Trading Psychology, Forex Basics   Member: Devin, India | 6 Snaps

Trading And Ego | PL: 11  Category: General | Comments (0) 2010-07-09 10:19:04 Natural size Trading And Ego Does your ego get in the way of your trading? After a couple of wins do you think you can't fail and go on to lose all your days gains? Here we look at ego and how to control it when trading. Imagine a stage populated by the main characters that comprise your inner 'trading decision making committee'. It's a short odds bet that the loudest shout for leading man / woman will come from the ego. Brushing aside rationality and requests for inclusion alike, the ego will pronounce...   Tags: Psychology, Forex trading, trading psychology, forex basics   Member: Oliver | 7 Snaps

Two Types of Losers | PL: 16  Category: General | Comments (0) 2010-06-18 07:59:47 Two Types of Losers There are a whole host of characters who regularly lose money in the market place, and most fall into two catogories: False Ego Traders & Nervous Traders The false ego mistakes come from a mixture of false pride and bravado and are the most dangerous mistakes to make. The trader, generally a beginner or intermediate — call him Tader A — gets an opinion in his head about market direction. His analysis may have even been sound, but his opinion keeps him from reading/seeing the signs that a...   Tags: forex trading, trading psychology, lose money   Member: Norman | 7 Snaps

Two Common Trading Misconceptions | PL: 16  Category: General | Comments (0) 2010-06-07 08:45:18 Natural size Two Common Trading Misconceptions One of the most common mistakes non-professionals make in trading is they believe market movement is pre-determined. No matter how easy it looks at times, with the technicals mirroring the fundamentals — as happened this morning w/ the non-farm payroll and the technical sell signal immediately following in the US stock indices, and the buy trigger in GBPUSD and sell trigger in USDJPY an hour later– market movements are not predetermined and we never know when a trade will be a nice winner or a...   Tags: Trading Psychology, fundamental analysis, technical analysis   Member: Rudi, Munic | 4 Snaps

Trading For Revenge : Control It Or It Will Control You | PL: 20  Category: General | Comments (0) 2010-06-02 08:06:40 Natural size Trading For Revenge : Control It Or It Will Control You Have you ever been wronged by the market ? You know what I mean. You have edge in a trade. You exceute your plab abd out of nowhere, like legendary hockey defensive wizard Bobby Orr racing across the ice, the market gives you a full-body check into the boards ? You lose the puck. Your teeth go numb, your body is rattled and your head spins. Lying flat on your back, staring at the lights, you can hear the coach, fans and some district voice inside of your head yelling, 'Get up you wimp,...   Tags: forex trading, trading psychology, emotions   Member: Ivan, Kiev | 2 Snaps