Trading Psychology

[Adler]

What kind of trading psychology does an experienced trader have in live trading, and what are the different trading psychologies in forex?

 

[Quelan]

At the initial stage, it is psychologically very difficult to overcome all difficulties, but over time it all comes back to normal

 

[diabolique]

At the initial stage, it is psychologically very difficult to overcome all difficulties, but over time it all comes back to normal

This is how life, in general, works. When you are starting off with something, you are bit curios but cautious to give something a try. You messed up, you made a mistakes, you get frustrated. But as the time goes by, you embrace those mistake and evolve to make a correct choice. Your fear and negative psychology tends to go away.

 

[sondraduckworth]

Whenever I approach a trade I make sure my previous losses or emotions don't affect my current strategy. I keep my motivation high and execute every trade with a motive of making money.

 

[ForexCrusader]

Trading psychology is shaping your decisions, emotions, and actions in trading. It should not be underestimated. Being able to stick to your plan and not make impulsive decision based on your emotion.

 

[shine]

Yes, the psychological aspect in trading greatly influences the results. For example, on a demo account, the influence of psychology is minimal, because here we do not risk our money. But on a real account, a trader may experience fear, excitement, euphoria or a desire to quickly recoup losses, which can negatively affect trading and you need to learn to cope with it. Even if you have a profitable trading strategy, but you do not know how to control your emotions, you will not be able to trade profitably.