dannydon786 Posted October 11, 2011 Report Share Posted October 11, 2011 1. Accept that losing will be a normal part of trading. Not only is it impossible to be perfect, it is not an objective or necessary to be a profitable trader. 2. Replace the focus of winning and losing with the objective of following your plan. This was not done while paper trading, as the trader had a specific profitability goal that they used to tell them when they were prepared to trade real money. They did not understand that the reason they achieved this goal was because of how they followed their plan. 3. Remain neutral and non-judgmental towards yourself. If profitable trading is ever going to be possible, this is mandatory. There is no way that you are going to be able to trust yourself to manage risk while you are also telling yourself that you are '******' or a 'pathetic loser' each time you lose or feel that you have done something wrong KING_BUNDA and maddman 2 Quote Link to comment Share on other sites More sharing options...
dannydon786 Posted October 12, 2011 Author Report Share Posted October 12, 2011 4. Eliminating your emotions is not the objective; I actually do not think this is possible. Emotions are always going to enter into trading - learn to control the emotions, instead of having them control you. 5. Accept that emotions are a part of life; they aren't by definition good or bad, and actually if you can shift the focus of what the emotion represents, they can be very beneficial for the trader. For instance, if I am feeling confused and that causes an emotional response or hesitation, I want to feel that emotion. This emotion becomes a warning to me that I should wait and try to find more chart-market clarity before taking a trade, something that can be very typical when markets are in congestion. 6. Start slowly - this may be the most important component of your plan. For instance, begin trading real money for an hour at a time, and then assess what you have done, always asking yourself the question: did I follow my plan, or did I take non-method trades mark1504, maddman and KING_BUNDA 3 Quote Link to comment Share on other sites More sharing options...
Jonathan Groff Posted January 2, 2012 Report Share Posted January 2, 2012 When it comes to trade in the forex market, there are many options to use to get sure success through all your efforts and implementation of perfect strategies. The automated forex trading could also be taken as one of the most significant forms of forex trading that can really help the traders a lot. However, your first and foremost stuff should be to build up your own personalized system of routine forex trading. alansim 1 Quote Affiliate ProgramForexaffiliatetradingprogram Link to comment Share on other sites More sharing options...
Kristianto Posted January 5, 2012 Report Share Posted January 5, 2012 these is good and useful advice... Quote Link to comment Share on other sites More sharing options...
Malcolm Gunawan Posted January 6, 2012 Report Share Posted January 6, 2012 Yes very good advice. And also of course we have to be discipline in our stop loss. Just imagine, if you lose 50%, you will need to profit 100% from the remainder just to be back where you started at. alansim 1 Quote Link to comment Share on other sites More sharing options...
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