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Currency Trading Information Channel |
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Currency Trading Information Channel |
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Psychology Of TradingThe psychological aspect of trading is usually underestimated by those new to trading. The psychological problem for most traders is the fear of losing - ironically it is this fear that causes most traders to lose money in the long run. The fear of losing can manifest itself in a number of ways: Unable to pull the trigger and enter a trade. A trader can start to lose faith in a system that has produced a number of consecutive losing trades and might start to look for further confirmation before taking the next trade. Inevitably the trade that is not taken will be the winner. The point of a mechanical trading system is that it forces the trader to take the trades that they wouldn't normally take just by looking at a chart. Unwilling to accept a losing trade and cut a losing position short. Losing trades are an inevitable part of trading, many successful systems will produce more than 50% losing trades. The key is to never marry a position - if it hits your stop loss then exit it. Preserve your capital for the next trade. Taking a profit too early to prevent a winning position become a losing one. There are a number of ways to counteract the fear of losing: Have a plan. Never enter a trade on a hunch, tip or gut feeling. Always know your exit before you enter a trade. Discipline. Developing your own trading plan that you believe in will make it much easier to follow than trying to trade someone else's. Money Management. If a position is too large for your account size then you are more likely to hang on to the losers or cut the winners short. Each trade is merely one step along a very long journey. Strict money management rules should ensure that you never stake more than you are comfortable with. Ignore the money. Don't view your trading account as money, view it as points. The better your trading plan and your execution the more points you will accumulate as a reward. It is difficult to trade objectively if all you can think of is that your last losing trade could have paid for a two week holiday or bought you the latest camcorder! Tim Wreford runs Online Futures Trading, a website that provides information and resources for traders. Tim also provides a free day trading system, the results of which are updated daily on the site.
 MORE RESOURCES updated Mon. June / 27 / 2022The Best Forex Brokers and FX Trading Platforms in 2022 ABC Action News Tampa Bay What are the Benefits of Currency Trading for Corporate Leaders? Analytics Insight 4 Ways COVID Boosted Currency Trading Yonkers Tribune. 10 Best Low Spread Forex Brokers for June 2022 Business 2 Community 10 Best Forex Brokers for June 2022 Business 2 Community What Every Australian Forex Trader Needs to Know Analytics Insight 4 Reasons Environmentalists Care About Forex Trading Green Prophet Forex Forecast: Pairs in Focus DailyForex.com Dow Futures Trade Lower After Positive Week Investing.com India MERCURIA ENERGY TRADING SA SUCCESSFULLY CLOSES USD 2177500000 MULTI-CURRENCY REVOLVING CREDIT FACILITIES PR Newswire Dollar trading margins hit Sh10 in currency woes Business Daily Forex Today: USD/JPY Hits New 20-Year High Price DailyForex.com Thousands Of Armenian Workers Face Layoffs After Dramatic Rise Of The Dram Radio Free Europe / Radio Liberty Billionaire Ron Baron Says Recent Market Weakness Offers Huge Buying Opportunity; Here Are 3 Beaten-Down Stocks Analysts Like Yahoo Finance Forex Today: Hawkish RBA Sees July Rate Hike DailyForex.com Basics of Forex Trading – Part 1 Yahoo Finance GBP/USD Forex Signal: Evenly Balanced DailyForex.com StoneX Executes First Bitcoin Cash-Settled Swap GuruFocus.com Dealing with forex market manipulators with iron hand The Financial Express Future of Bitcoin Trading in Mali London Post What is forex trading? Bankrate.com Basics of Forex Trading - Part 1 FX Empire What are the Pros and Cons of Forex Trading? RealtyBizNews Moscow Limits Foreign-Currency Trading to Shore Up Struggling Ruble The Wall Street Journal What is forex trading and how does it work? The European Sting How to Know Which Currency Pair to Trade Startup.info Forex (Foreign Exchange) Explained | US News U.S News & World Report Money Currency Definition | US News U.S News & World Report Money Proven Forex Trading Strategies that Work in 2022 BusinessLine FX trading: A loser's game? ETF Stream Trading Forex vs Futures: Key Differences IG International Is forex trading a way to make a living? Nairametrics The Most Common Warning Signs of a Forex Scam Finance Monthly Currency trading in overdrive with dollar at highest level in two decades (NYSEARCA:UUP) Seeking Alpha BC: Tips for Success in Forex Trading Punch Newspapers CEO Of Cryptocurrency And Forex Trading Platform Charged With Fraudulent Scheme Involving Over $59 Million Department of Justice What is Hedging and how can it be used in Forex Trading? Deccan Herald Forex Trading TD Ameritrade Five Myths About Forex Trading Tech Guide How to Trade Forex TD Ameritrade Best books to learn Forex Trading from scratch Free Press Journal Forex Trading Hours: Limitless Trading in an Endless Market The Coin Republic Currency Investing Makes a Comeback | RIAIntel RIAIntel.com Even the Foreign-Exchange Market Is Getting Kind of Crazy The Wall Street Journal Why forex trading is not gambling Nairametrics FOREX.com Review | The Ascent The Motley Fool How To Compare The Relative Strength Of Currencies Finance Monthly Russian Authorities Crack Down on Illegal Currency Trading The Moscow Times Changing the Top Global Currency Means Changing the Patterns of Global Trade Carnegie Endowment for International Peace Is forex trading halal or haram? The Armchair Trader How Currency Trading Works Investopedia
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