The Importance of Psychology in Forex Trading

All beginners and even some experienced traders greatly underestimate the influence of psychology on trading in the Forex market.. Psychology of forex beginners is perceived by a trader as something incomprehensible and often unnecessary, and most often it is ranked in last place for a trader. But only inexperienced traders do this.. If we analyze the statements of many successful, successful traders, then success in trading interest on 90 depends precisely on the psychological aspects. But what is psychology in the market at all??

In our opinion, this is a special mental state of a trader., when it is in harmony with the market, learned to control his emotions and clearly fulfills his trading plan, your trading system. Many will say - why do we need psychology,  you give us a profitable trading system and we will make money in the market. But, surprisingly, market success is determined by a non-profitable system, and above all, strict adherence to your trading plan. You can give two identical trading systems to two traders and their results will be different. Why? Because one clearly followed this system, its rules, while the other constantly deviated from it - then the stop loss moved, then did not close unprofitable positions, etc.. Your success or failure in the market depends entirely on you.. Psychology in the market is a very delicate thing. What the charts цен на экране вашего монитора?

Is not nothing, as a mirror image of thoughts, hopes, fears of all market participants combined. If you really trade forex, you have probably noticed more than once how difficult it is to close unprofitable positions, admit yourself wrong and how easy it is to close profitable, but with minimal profit, this also applies to the psychology of trading. According to most market professionals, you need to psychologically adjust yourself to accept losses., are not afraid of them, but close positions, when losses are small, and when there is a profit on the deal, let it grow further. That is, it makes sense in small losses and large profits.

  Home Depot shares plummet four percent after quarterly report

In general, emotions can be considered one of the main psychological problems of a trader., on which he makes the most mistakes, emotions in the market are often destructive. Certainly, we are people, not robots and we have and will have emotions, but the market should try to minimize their impact on trading. Forex reviews Show, that you need to become a kind of trader - a semi-robot, clearly following your trading plan and not worrying about losses, nor rejoicing in profits. Certainly, it's hard, but probably, although you will have to spend more than one year, before reaching the result. As a rule of the trader, who do not have their own developed trading strategy are most often subject to emotions. The way out of this situation is simple - to create, "Suffer" your system and strictly follow it. In general, in the market you need to try, if possible, abstract from someone else's opinion, and it is even better not to listen to anyone's advice or recommendations at all. Analysts and various predictors only assume the likely price movement, but you are responsible for the results of your trading. We advise you to be very skeptical about news on Forex. Yes, news drives the market, but in the long run. We are a trader and we trade mainly within the day and in the medium term., and within these time periods, news is only an excuse to drive the currency up or down. Many generally trade exclusively on technical analysis., not considering fundamental analysis, considering it useless. Which analysis to use is a personal matter for a particular trader.. But we advise you to always take into account the psychological aspects of trading., at least reckon with them. If you are a beginner at forex, then after trading for a certain time, let's say years 2 or 3, вы поймете, that psychology in trading is a key factor for successful and stable trading in the market.

  Trade around

 

Scroll to Top