Reply With QuoteThanks for this, an informative read indeed!
More Tips To Control Your Emotions
A common cause of fear is trading too big. Trading with improper size magnifies volatility unnecessarily and causes you to make mistakes you normally wouldn’t make if you weren’t under the stress of risking larger losses than normal. Another culprit for fear (or nervousness) is you are in the ‘wrong’ trade, meaning one that doesn’t fit your trading plan.
Conviction and excitement are key emotions you’ll want to feed off, and you should feel these in every trade you enter. Conviction is the final piece of any good trade, and if you don’t have a level of excitement or conviction then there is a good chance you are not in the ‘right’ trade for you.
Thanks for this, an informative read indeed!
Anytime, I recently saw an article on this and the opening line keeps ringing in my head; "Discipline helps to control emotions in Forex trading once and for all, it strengthens a person and does not allow him/her to take inconsiderate actions"Originally Posted by Nich
You can read more here!
We will need to understand the importance of doing our trades with a good trading based plan.
This is probably among the first thing we do as we venture into the market along with learning everything you need to know.
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