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Joined Jun 2022
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Status: Junior Member
|3 Posts
What ever business we do we should not be in alcoholic mind. Because It always pollute the mind. If you think trade as a business you should never drink when you are in business.
What ever business we do we should not be in alcoholic mind. Because It always pollute the mind. If you think trade as a business you should never drink when you are in business. BR.
Ignored
Well said, actually Forex is a serious business! Actually, there is no way to make consistent money with an ordinary concentration level!
Of course no. When you're drunk the reaction gradually slows down and you start to see the blurring graphics. There is no way to analyse the graphic when you're drunk because all the processes in your brain are slowed down.
However, it depends on the amount of alcohol. If we are talking about couple of glasses of whiskey, then of course we still can save the concentration on the graphic and make some decisions concerning opening and closing the deals. I tried to trade when I was drunk, and actually it was a real luck that I didn't only save my funds, but also earned a bit more. Nevertheless, I felt the aftermaths of my drunk behavior...
Would you strut out into the arena drunk to face an elite gladiator or highly skilled martial artist whilst the laughing mob mocks you? That's exactly what you are doing drunk. Get clean and get a life. Many of my patients rave about; "stopdrinkingexpert.com" free youtube vids check it out and then come back to the blazing sands of the colloseum!
a few minutes later, it would be the sydney tokyo overlap and thats when i trade my system. if i lose the trade i will never trade drunk again. im confident i will follow all my trading rules tho.
i follow my system and open my usual position, i won my trade. regardless of being drunk or not, i guess if your system works, it works. if you are drunk and you make it as an excuse because you don't have a trading system that works, its your luck or your fault possibly not the state of being drunk.
Drunk forex trading, like any form of trading under the influence of alcohol or other impairing substances, is generally not advisable. Making trading decisions while intoxicated can lead to poor judgment, impulsive actions, and increased risk-taking behavior. Here are a few reasons why drunk forex trading is not a good idea:
Impaired Judgment: Alcohol impairs cognitive functions, including reasoning and decision-making abilities. This can lead to poor analysis of market conditions and trends, increasing the likelihood of making impulsive and ill-informed trading decisions.
Increased Risk: Intoxication can lead to a lack of risk awareness and an inflated sense of confidence, causing traders to take larger positions or engage in riskier trades. This can result in significant losses.
Lack of Focus: Trading requires a high level of concentration and focus. Being drunk can lead to distraction, making it difficult to assess market information and execute trades effectively and accurately.
Emotional Decision-Making: Alcohol can amplify emotions, leading to impulsive actions driven by fear or excitement rather than rational analysis. This can result in buying or selling at the wrong times.
Loss of Control: Being intoxicated can impair your ability to manage open trades, set stop-loss orders, and monitor market developments effectively. This lack of control can lead to unexpected losses.
Long-Term Impact: Consistent poor decisions made while intoxicated can lead to significant financial losses. Repeated mistakes can damage your trading account and overall financial stability.
Successful trading requires a clear and rational mindset, a thorough understanding of the market, careful analysis, and disciplined execution of trading strategies. Engaging in forex trading while intoxicated undermines these essential elements and increases the likelihood of making costly mistakes. If you're considering trading, it's best to do so with a sober mind and a well-thought-out plan.
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