A Guide to Understanding Forex Trading Psychology

/r/Forex Trading Community

Welcome to FXGears.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
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Trading Psychology: Winning The Mental Game

🧠 Master your emotions; the markets will take care of the rest. This subreddit is dedicated to everything that is trading psychology.
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Stuff That You Might Find Interesting Too

A subreddit collection of links, pictures, and videos that we find interesting and that you might too. Some of the things we're interested in are Technology, Comedy, NLP, Finance, Exercise, Memes, Electronics, Body Building, News, Science, Sports, Movies, Psychology, Cryptocurrency, Forex, Programming, Day Trading, 420, Current Events, Web Design, Relationships, Wealth, Martial Arts, Travel and probably some I missed.
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Forex Psychology Part 1

Would appreciate the input of any members that have looked into trading psychology. Obviously there is no one book or approach that is going to solve the struggle with trading psychology. We are all human and struggle with the same issues while trading. That is why trading is so difficult...
A few issues I'm having at the moment. Would appreciate any input on each of these and also, if someone knows the professional terms for these physiological phenomenon that would be great as I can look into them more:
Shifting Expectations
I'm short GBPJPY, for the last 2 months. Great trade, even scaled in and both trades are well in profit. In anticipation of it falling further next week I've moved my profit target way down and set my stop losses so that even if it turns bullish I will still be out with a really nice profit. A profit I would have been ecstatic thinking about at the start of the trade. Why then do I feel disappointed at the thought of it hitting my SL rather than continuing down to my new target? As I said I would have been very happy with the profit I'd get if my SL is hit at the start of the trade. Why not satisfied now? Is that just greed? I feel it is more than that? Any thoughts?

Missing Out
So I guess this is a little different from FOMO, in that it is literally missing out!
Lets take the familiar situation to a lot of traders: They think the market will go down, enter the trade, set their SL. Their SL gets hit and then market goes strongly down as they expected. How do they feel? How do they deal with that feeling?
Or in my case at the moment: Same GBPJPY trade as above, scaled in for the third time, set my SL. Almost hit my SL, but didn't; moved strongly into profit; moved my SL to break even. Get up this morning, it has hit my SL (profit of 9USD lol) and is now continuing strongly down. Well again, is that just greed, regret or something else? I should first of all be relived I didn't lose any money yesterday especially as it almost hit my SL. Yet that "what could have been" feeling is hard to ignore. Any insights?
So there you have it, a perfect trade setup, nice profits even it goes against me, yet still all these trading psychology issues...




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Preparation makes half the battle won. And so here are some tips to prepare you for the biggest psychological battle in your life. #winningtrade #FXmarket #tradingtricks #forex #tradingtips #mistakes #traderpulse

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http://twitter.com/forex_in_world/status/12700718863792087105 Common Trading Psychology Mistakes Forex Newbies Make https://t.co/ZUolOBu6rn— FOREX IN WORLD (@forex_in_world) June 8, 2020

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Trading ist eine Arbeit, die der Fähigkeit zur Analyse und Schlussfolgerungen fordert; dafür braucht man Selbstbeherrschung, Geduld einerseits und der Bereitschaft zu riskieren andererseits; es ist eine Beschäftigung für die, die mindestens etwas in der Psychologie verstehen, und davon hängt in vielem Ihr Erfolg oder Scheitern auf dem Forex-Markt. Forex Psychology Articles 2020. Forex psychology is a field of expertise that is essential to be acknowledged by any trader willing to achieve continuous positive results from their operations in the financial markets. It is important to understand that trading theory is indispensable, yet to apply it in practice one needs to be well-prepared also in terms of clear mind and cool spirit. It is ... Forex trading psychology is a big thing. Often, it is the psychology, and not a lack of academic knowledge or skill in application, that is considered to be the primary originator of trading mistakes. Mistakes are constantly repeated by financial traders of various backgrounds, which suggests that it is the common traits shared among us as humans that lie in the base of those mistakes. That ... Forex Trading Psychology: The Four Demons of Trading Psychology. Author: ForexFraud Published: 2nd July, 2020. We’ll conclude the basic lessons of our school with a brief study of trading psychology and its effect on the profits or losses of forex traders. It is rare to see a brilliant academic do very well in trading. While there are many scholars with degrees and honors from the most ... The psychology of forex trading is an essential aspect of becoming a successful trader. For most traders, this is what triggers the biggest percentage of trading mistakes. Therefore, you need to strive to keep your emotions in check. If you fail to control them, they will surely control you—and you’ll regret the trading decisions the emotions lead you into. The success or failure of your ... Forex Psychology. Home Advanced Forex Education Forex Psychology. Trader's psychology is the main driver of the markets: Greed and Fear were the two main forces already signaled by Jesse Livermore as the main culprits of the traders' failure. In this section, we present the best education on psychology to help our readers master their minds and control emotions while trading. We will dissect ... Forex Trading Psychology – 3 Things You Must Have (Podcast Episode 13) September 17, 2018 by VP. Episode 13’s question wasn’t even a question, and may or may not have had anything to do with Forex trading psychology. But if your question is vague, I reserve the right to turn it into whatever I want. And the question is… “Tell me 3 things every Forex trader must have” — Mo from ...

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Master Your Forex Trading Psychology & Mindset - YouTube

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