5 essential Psychological Trading.

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Originally Posted by joget

:: 5 essential Psychological principles for successful trading.

1. Trading with a regimented plan and system.
2. Cutting your losses at an early stage and being loyal to your profit earners.
3. Not let your emotions rule in trading and to be objective with your decisions.
4. Don't make overtrading.
5. Awareness - Never follow blindly.

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I agree with your principle in trading. If we want to trade and make profit in trading, we must control our mind and emotion. Don't trade if the situation is not good and we are bad mood. In this case we sometimes get loss that will bring us margin call. I think we must close our computer and our order in bad situation. Trading in bad mood makes us loss.

Thanks my friend. I am a new trader but first i have made losses more than 2000 $. Because, I did not have plan for trading. No w i am following some system as like ur 5 essential Psychological principles. So, I am doing some profits.

I support you most that can help me. Forex trading will be good if you have good trading system and
good working plan.

Quote:

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Originally Posted by joget

:: 5 essential Psychological principles for successful trading.

1. Trading with a regimented plan and system.
2. Cutting your losses at an early stage and being loyal to your profit earners.
3. Not let your emotions rule in trading and to be objective with your decisions.
4. Don't make overtrading.
5. Awareness - Never follow blindly.

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me koshish karta hon ki har bar trading se pehle market ko smajh saku aur pair ke trend kp samjh saku uske baad hi trading karu forex me trend ko samjhna bahut zaruri hota hai..trend samjh ke trading karne se hamesha fayda hi hoga

you lose from fear, and you lose from greed and make sure that you can be good in understanding when you trade and when you cannot make sure that you have what you have and what you dont make sure that you can trade when you are doing and understand the best way.

all of your points are valid but i am little skeptical about the 4th point. i feel that if we trade again and again with low target then the profit will be huge. overtrading never did bad to me. lack of analysis did.

dear joget,

over trading is bad for stock market. Because large commission paid decrease profit . In Forex spread is low so over trading is not bad i guess. Currency moves comparative less some sharp entry and exit is necessary to increase profit.

the world of forex is not meant for the feeble minded and the unfocused individual. every trader should see himself as a proffesional and as such a level of ethics like the one highlighted above is expected of him.

Awareness and overtrading this is why most of Forex trader fails most traders dont do their homework properly before there place a trade that is lack of awareness and over-leveraging

Quote:

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Originally Posted by joget

:: 5 essential Psychological principles for successful trading.

1. Trading with a regimented plan and system.
2. Cutting your losses at an early stage and being loyal to your profit earners.
3. Not let your emotions rule in trading and to be objective with your decisions.
4. Don't make overtrading.
5. Awareness - Never follow blindly.

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and all about it we need good discipline to do that, discipline is the key for all, although some traders have good experiences and strategies but if they can not trade with well and less discipline then they just break all the rules
do the best we can