Psychology of of Trading.

[prince1357]

I am having great problem with psychology. I can't hold my profit trades. Even when I take trade I force myself to create a setup where there is no setup at all. Anyone can give me best solution to resolve the problem?

 

[Daantje Pieters]

Profits cannot be made with a very good strategy if psychology cannot be maintained. Psychology Many traders are weak so they lose. Using the same strategy, one is making a loss and another is making a profit. The main reason is psychology.

 

[Herrella]

This is a common problem that many traders encounter. Maybe, designing some trading rules for yourself can be a helpful strategy, so you stick to one path. You can take help of stop loss and take profit order, so you close your trades on time.

 

[mlawson71]

Train yourself more on a demo account for as long as you can. Create a trading plan and follow it closely. The rest is a matter of habit, I think.

 

[gumblish]

I suggest swing trading and learning discipline. It will hep you to go away from the charts after taking a trade to give your mind time

 

[Sherverty]

For me, the most important aspect of FOREX psychology, and what often leads to problems, is a lack of appropriate education. The majority of new and struggling traders will make the same mistakes without the right education. Some traders made some of these mistakes because they did not have access to the right information. Many others will also make the same mistakes because they don't have the right information. So, it is recommended we learn from the right mentor(s), and then we will be able to avoid these mistakes. As a result of all these mistakes, it is easy to conclude that the biggest problem is the lack of the correct information and the ease with which traders can begin trading.

 

[marco.mcx1]

You can try the no-nonsense forex way of trading he talks about this all the time but as far as quick tips, trade the daily time frame so that you only have to look at the trade once a day and just forget about it, it takes practice