Trade rationally without risk

The psychological state of the trader in the forex market is one of the basic ingredients for the success of the trading process, and the love of risk-taking in trading often leads to miscalculation and loss, so the psychological state of traders must be stable, and since trading is a business that contains risks, the psychology of traders must be disturbed because of this, the method The way we respond to our feelings can cause problems with our trading method. Giving in to emotion and feelings can eventually lead to account loss or lost trading opportunities if you don’t hesitate to enter them

do-not-be-this-type-of-trader

What traders need to understand that loss is part of the forex world and cannot be completely avoided. As a trader, let go of your emotions that will often confront you and don’t let them hinder your trading performance. Learn about the most common emotions that traders experience:

🔸 Fear of trading, understanding charts, multiple trading strategies, technical indicators, economic news and other matters related to investment and trading make most traders stand afraid of understanding and applying them correctly, do not let fear control you, trading needs a period of training and understanding before engaging in actual trading and merging with international markets.

🔸 Greed to increase profits in an exaggerated way is very wrong and leads you to act in an irrational way, such as staying in winning trades for too long and reaching new highs, which leads you to monitor the markets all the time! This kind of passion is the most dangerous of all, as greed can be your worst enemy.

🔸 Worry about making the right decision to enter and exit the deal makes the trader confused and loses the appropriate opportunities for investment, and in this case the exit and entry into the deals will be done in an unthoughtful manner. before entering a new phase of trading.

🔸 Hoping for big profits and that all trading strategies will make 100% profit This is definitely wrong There are no fully successful strategies, creating a false sense of hope that the markets will adjust and save the position if the trader gives him more time.

🔸 Regret from entering the deal late or withdrawing from the deal soon and did not achieve the desired goal, in this case it is better to use pending orders from taking profits and stopping losses or identifying areas of support and resistance, regret can act as a factor to cancel the movement after a set of Losing trades, which can lead to frustration and end trading at a loss.

Trade wisely and logically, one of the most important secrets of success in the markets is to control and manage emotions correctly in trading, do not let emotions and emotion dominate your trading decisions

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