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Fear of Regret, emotions that can hinder success. The inability to accept that you’ve made a wrong decision would lead you to hold onto losers too long or sell winners too soon. These must be avoided if you must be successful this year.

The ability to change one’s mind is probably a key personality of successful traders. Dogmatic and rigid personalities rarely succeed in markets.

Wise saying! Whoever has eyes to see, let him read and take this to heart.

This is indeed helpful. Thanks for sharing.

Risks in forex trade are innevitable, however, A good trader is optimistic. Optimism means expecting the best, but confidence means knowing how to handle the worst.

The FX veterans take the psychology out of the game. They have a trading strategy, and they stick to it.

Thank you very much KDASFTG. I quite agree with everything you have written. “It should be a standard procedure that a day trader always identifies their precise exit point before they enter into a trade”. FX veterans understand this and have an exit strategy mapped out before they get into the...

A recipe to reduce risk is trading small lots. Even though our emotions sometimes influence us to trade big lots because of the big money involved, we all know emotions are dangerous. Hence the importance of taking decisions according to your trading strategy.

It's 2017. never forget that after deciding what position to open, it is also important to identifying the exit points in a trade, whether it is profitable or not.

Why do you say so?

If you want to reduce risk, it’s more important to know when your trade is bad than it is to know how to get into it. A trader has to minimize your maximum loss to win in the long run.

Practicing risk management is essential to trading successfully. Some traders ignore this only to run into one loss after another.

Fear and greed are emotions felt when you don’t have specific rules in place. Follow your rules, and the only way to have confidence in them is to test them. I had to master this.

It think it makes sense! Trading can be stressful and tiring at times, but meditation canmake one come out of it feeling refreshed.

Traders generally are overconfident in their prediction of the markets, decision making, and trading strategies. However, being overconfident is a hindrance to making progress and trading successfully.

I think it is true when they say narcissists are levelheaded not until you say something that's logical or reasonable.

Narcissists are grandiose thinkers. They think big. They'd definitely make good traders. .

One of the most important personality is self-confidence. Self-confidence is a measure of your belief in yourself, and has a number of consequences in trading should you lack it. Being successful requires you to trust and stick to your trading plan. If you lack self-confidence, then you are...

It's a New Year, and to be successful in it, we need to avoid trading the wrong way we did last year. I think one of the most underestimated attributes of successful traders is patience. Patience is a factor in a number of different situations in trading from trade entry, to trade management...

The more pairs you trade the higher the profits. I'll recommend beginners to trade these pairs. EUR/USD, GBP/USD, AUD/USD, NZD/USD. They are my favorites.