DislikedHi guys I would like to add my tuppence worth. I've been trading for some years now so I know the problems! My advice is: 1/ Timing in forex trading is EVERYTHING. It's so difficult to enter a trade at the right moment but it helps a lot to trade at the right time of the day thus increasing the chance of success 2/ Vital to turn every trade into a winner or at the very least a BE trade. So give every trade "breathing space" ie. don't watch it constantly. Give it an hour to an hour and a half and if you are say 20 - 25 pips ahead (or more) bring...Ignored
Emotion - the biggest weakness of the trader
What do you mean when you said " in advance the rendered take-profit and stop-loss"? How do you calculate this parameters? And one more question. What you think about advisors. Can it be solving of the problem with emotions? If you use an advisor, you do not worry during the trading, because it trading without your participation.
Here is my example from personal experience, a few days ago. The deal on the EUR / USD (now I closed it at a profit, as the price included in the flat)
Coming soon article about the third way to change (convert) your beliefs. I'll try to find more videos and pictures on the topic.
- #44
- Mar 20, 2016 1:12am Mar 20, 2016 1:12am
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-642
{quote} Have you perhaps thought about having a daily goal? I find it works well to use goals in trading. Just say one starts with a $100 balance, a decent goal to aim for is perhaps $5 a day which roughly equates to 10 pips at .05 a pip. And it's psychologically much easier to make 10 pips trading micro-lots then trading high leverage! That would give you a 25% increase in a week and double the account in a month - not bad in anyone's language! If one has a decent trading system, it should be feasable to achieve 10 pips a day. And once you reach...
{quote} Thanks jtimini for your suggestion , i tried it before , still the same psychological problem ,after days or a week ,if price is going your way 10 pips ,why stop?why not only more 5pis ,or wow it could go 50 pips?and why not 0.1 and make 10%?just one wrong trade in a minute of weakness and it's finished .you see it's like smokers ,they know it cause cancer ,still they smoke ,me as a non smoker i don't get it how could they kill themselves ,but it's something in their psychology and personality.a lot of Forex traders are risk junkies ,i think.
What if you put the order on planned volumes (no more), set a stop-loss and take - profit and turn off the terminal. I know it will be hard to refrain from surveillance. You probably shut down your computer and take your phone :-) But that it should be avoided. I understand that this dependence as a smoker. Therefore, I suggest to replace your experiences thirst and risk to other sensations. Turn off the computer after installation orders and go to the gym or to meet with friends, for example. It will be doubly useful.
We continue to disassemble the beliefs of management methods
Method 3 - Through the collection of evidence
This approach requires a conscious introspection, sometimes even self-criticism.
So. What is needed in order to strengthen, reinforce your thought:
1) situations from personal experience (the most powerful way of convincing evidence);
2) Examples of famous people;
3) Personal feelings, intuition and logic (depending on which you mindset);
4) The experience of other person close to you or a reputable person;
5) Examples of other people.
Now, you will need for each of the listed items to recall examples of how positive beliefs lead to building up and the negative - to destruction.
Here are a few examples.
The first item (personal experience). When I started trading forex, I did not believe I could earn even $ 1000. Until I started to take it seriously, I spent the money. But then, I started my psychology. I made for myself setting that I can not only earn a thousand dollars, I said to myself that I can earn
100 thousand. And whenever my balance increased my emotional support has grown too. Now, I have gone far beyond the intended mark, and I have new targets, but the desire to be successful has grown into a conviction.
The second point (famous people). For example, a Serbian professional tennis player Novak Djokovic once admitted in an interview: "In the final the US Open Championship, I had a little psychological experiment when Federer fans actively supported, I imagined that they were chanting my name." - a prime example of the workings of conviction.
With each item, do the same. Find evidence that limiting belief is false, but to create the right. The most important thing in strengthening the belief (correct belief) - this constancy. If you loosen the grip, then return to the original state.
And in the end - video.
1. Here is a very interesting lecture by Anthony. Look at it necessarily in your spare time.
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2. How to Focus for Yourself. Lecture on how to focus on the target.
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Let's talk about what is self-control.
Self-control includes emotional control and self-control of behavior. Self-control of behavior - is the control own actions and impacts. If a person is able to change their behavior here and now, but it only applies to a specific situation, it is situational changes in own behavior.
If you change your behavior in general, and this affects the an extensive area impacts and opportunities, we are talking about self-control behavior. Emotional self-control - a control of their own emotions and states. More often people complain about the lack of emotional self-control.
It is important to remember that self-control - is one of the characteristics of freedom and personal responsibility.
No self - there is no freedom, no responsibility, no personality.
Some people believe that if there is a lot of self-control, he deprives freedom, spontaneity and joy of life. As practice shows, this is a mistaken view. Control can not be too much. The main thing, the controls must be correct.
If the person at the time of self-controlonly bothers and berates himself, he had the wrong self-control. And if a person carefully controlled to while working not to be strained, to work on the positive, to have a rest and take a difficult task with the mind, celebrating all the important successes, such control is useful and always will not be superfluous.
Without physical activity, self-control falls.
Megan Outen, a psychologist, and Ken Cheng, a biologist (from the book by Kelly McGonigal "Willpower. How to develop and strengthen") from Macquarie University in Sydney recently finished testing a new treatment that improves self-control. And they smote them with the data.
The experimental have became six men and 18 women aged from 18 to 50 years. After two months of treatment they are better focused and less distracted. Periods of concentration reached 30 seconds, which is quite commendable. But this was not all. The subjects smoked less, reduced the consumption of alcohol and caffeine - although nobody asked about it. They ate less junk food and more healthy.
They spend less time on TV, and more - to study. Save money and not squandered on spontaneous purchases. Experience the control of his emotions. Patients are rarely put off things for later and less late for the meeting. So what is this miracle cure?
Treatment was not pharmacological. Physical exercises, were the cause of the wonders of self-control. Participants who had never practiced sports regularly presented to the membership at the gym and was advised to take advantage of it. In the first month they made about once every seven days, but the gym had already visited three times a week by the end of the second month.
This is experimental evidence that the control of the body gives the mind control.
At the end of this message, I would like to enumerate three important habits that contribute to self-control:
- The first habit - a habit to keep cheerful format, and not get upset and to mope.
- The second habit - a habit of living does not feel as head. It is not about what you should not have emotions it about understanding that emotions should be your tool.
- The third habit - a habit in any difficult situation to work constructively, and not give up.
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In subsequent posts I will detail to disassemble everything about exercise and habits of self-control.