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Trading Psihology

Tinojazz

Professional Trader Since 2007
VIP Member
Hi all , i am opening this thread, cose we all need sometime to talk with another person when we have a bad trading day.
Of course personaly and i need Forex Psychiatrist. :)
We all do some bad mistakes in trading. We dont follow our systems, we add sometime doublle lots after loosing trade, we entering many times against the trend, we change systems every week, we are always too smart to say now price must be back, we look on candlles all time and we exit always manual before our TP or SL are reached cose "we know now where price is going"
or our perfect meaning : today i will seat at the PC and i am gona make a lot of monney.....

I would be happy iff we can make some dialogs about this theme, cose i know that will help us too much. I am not shame :)

I have actualu one ask for you: - How are you feeling when target is not reached only for 1-2 pips and later you watch your open trade how is hitting your Stop Loss( that is happened twice to me today)
 

stovedude

Active member
I feel for you my friend. I've been there a few times myself (maybe more than a few). We either become over-confident, just plain greedy, or upset about the previous loss. It always seems that 1-2 pips is the magic number for the margin between success and failure.

It looks like you're handling it the way you should: live, learn, and move on. Many people will rant and rave, blaming it on everything else but the truth, but you are accepting reality as it is, and will consequently become a much better trader because of it. You must take that which is coming against you, and use it to lift you up. Keep up the good work my friend!
 

Tinojazz

Professional Trader Since 2007
VIP Member
I feel for you my friend. I've been there a few times myself (maybe more than a few). We either become over-confident, just plain greedy, or upset about the previous loss. It always seems that 1-2 pips is the magic number for the margin between success and failure.

It looks like you're handling it the way you should: live, learn, and move on. Many people will rant and rave, blaming it on everything else but the truth, but you are accepting reality as it is, and will consequently become a much better trader because of it. You must take that which is coming against you, and use it to lift you up. Keep up the good work my friend!
Thank you Stove with all my heart:). Today was the most hard psiho day for me. I have been opened 37 hours on GY sell order, finaly now rain has come :)
I am most time on PC already 5 years forexing, and realy is hardest part when you look on charts specialy like today, average range on GY was only 50 pips and before trade you have some prediction that your order is correct, but while you are waiting, in my case 37 hours you are loosing patience, selftrust, rolling around office, and every moment ready to close order.
I dont know maybe i am wrong, but the most important thing there in FX is Psihology. There is a no holly grail systems, EA's what will make only profits or signal providers... its all depence of trader who mennaging trades.
Thanks again for your support.
 

maximo

Member
Yes I've seen that happen.. as much as I dont want to watch a robot trade, at the time you check it, it can often be in the middle of trade and only so many pips from target or not looking like a good setup etc etc.

Does psychology include overriding what robots do automatically. ? The temptation is there..
 

stovedude

Active member
I think if you are a few pips away from TP, you should bag those pips, unless you are confident it will continue in your direction. At least, go to BE or partially close. No reason to be greedy.
 

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