Oh, thanks for the explanation. It would be better if you wrote it at once with the link. I looked through search results and videos, but didn't get what did you mean exactly
How Forex Trading Can Make you Rich?
- Thread starter Peter brandley
- Start date
forex traders don't need fear closing
Fear of losing can lead to further losses
Fear of taking losses can ultimately lead to even more losses. The typical behaviour of a trader will be to close trades early, either when the trade has temporarily gone into a loss or a small win, and not letting the trade run its full course
When a trader has a fear of losing, they try to avoid them. This can actually increase losses.
For example, a trader may open a trade and place their stop, say, 20 pips away – based on the strategy they use. In other words, there is a technical or fundamental reason for it being placed where it is.
However, a trader that is influenced by fear may close the trade prematurely, simply because the trade temporarily goes against them. So if the trade goes against them by, say, 10 pips, then the trade results in a 10 pip loss. If the trade turns out to be a winner, then the trader has just turned the winning trade into a losing one out of fear.
Another scenario is when a trader closes their trade as soon as it has gone into profit, out of fear that they can lose that profit. If the trade then goes on to hit the target, then the trader has reduced a full winning trade down to a much smaller win.
This behaviour ultimately turns a profitable strategy into a losing one, because the trader reduces the amount of winning trades and/or reduces the profit overall because of fear of losing.
Fear of losing can lead to further losses
Fear of taking losses can ultimately lead to even more losses. The typical behaviour of a trader will be to close trades early, either when the trade has temporarily gone into a loss or a small win, and not letting the trade run its full course
When a trader has a fear of losing, they try to avoid them. This can actually increase losses.
For example, a trader may open a trade and place their stop, say, 20 pips away – based on the strategy they use. In other words, there is a technical or fundamental reason for it being placed where it is.
However, a trader that is influenced by fear may close the trade prematurely, simply because the trade temporarily goes against them. So if the trade goes against them by, say, 10 pips, then the trade results in a 10 pip loss. If the trade turns out to be a winner, then the trader has just turned the winning trade into a losing one out of fear.
Another scenario is when a trader closes their trade as soon as it has gone into profit, out of fear that they can lose that profit. If the trade then goes on to hit the target, then the trader has reduced a full winning trade down to a much smaller win.
This behaviour ultimately turns a profitable strategy into a losing one, because the trader reduces the amount of winning trades and/or reduces the profit overall because of fear of losing.
More money in stocks
Technical Analysis does not work, never did, never will
Technical Analysis does not work, never did, never will
Millions of people use it every day, why wouldn't it work?
For me it works greatlyMillions of people use it every day, why wouldn't it work?
In this link you get 25 % profit and using options calls , you make 300 %
Technical Analysis does not work, never did, never will
You cant do that in forex
This is good for trading purposes indeed, if trying to flashback journey trading, rush in trading often causing floating prolong and less effective for trading, only one obstacle is to determine best timing to entry
Forex Trading requires lots and lots of practice, you could become successful but for that you need to have patience and discipline.
With knowledge and skills a person can win any business no matter which technique you use for it. Because you have mind which can handle it in any situation.
Forex trading requires more discipline with proper management because practice can trading your strategy not your emotions.