Why You Should Start Forex Trading �� - Investment (3) - Nairaland
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 7:22am On Jan 24 |
Let's make money 💰 |
| Re: Why You Should Start Forex Trading �� by Alexdark17: 12:40pm On Jan 24 |
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 7:32am On Jan 26 |
About yesterday 🤑🤑🤑
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 12:00pm On Jan 29 |
💰💰💰 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 12:59pm On Feb 08 |
Money week 💰💰💰 |
| Re: Why You Should Start Forex Trading �� by Akposkiz: 3:18pm On Feb 09 |
Thanks for the info. |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 9:18am On Feb 10 |
Factos!!!
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 9:20am On Feb 10 |
Don't ever give up on your goals no matter what.
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 9:10am On Feb 14 |
💰💰💰 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 1:49pm On Feb 20 |
🤑🤑🤑🤑🤑 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 8:42am On Feb 28 |
💰💰💰 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 8:36am On Mar 04 |
🤑🤑🤑 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 7:29am On Mar 09 |
📌Hello guys, it's been days I updated this thread with results of trades we took, the fact is that I'm very lazy when it comes to updating results here. We have been milking the market though, both on FOREX and DERIV.
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 7:30am On Mar 09 |
🤑🤑🤑
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 2:16pm On Mar 10 |
Making easy money 🤑🤑🤑
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 3:07pm On Mar 12 |
📍Making money on FOREX is easy once you understand how the market works.
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 3:36pm On Mar 18 |
📌Be good and exceptional at whatever you do.
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 4:56pm On Mar 22 |
Before and After of #FOMC
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 4:57pm On Mar 22 |
🤑🤑🤑🤑🤑🤑 Just be good at what you do.
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| Re: Why You Should Start Forex Trading �� by LovesonBlezz(m): 7:37pm On Mar 23 |
Mirasteel:l need your directions boss, I've just opened a demo account... Sent you a dm |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 3:52pm On Mar 30 |
LovesonBlezz:Okay |
| Re: Why You Should Start Forex Trading �� by LovesonBlezz(m): 10:59am On Mar 31 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 3:25pm On Apr 01 |
LovesonBlezz:Check my signature below for my Telegram handle. 1 Like |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 3:26pm On Apr 01 |
FOREX is the sweetest when you know how to make money 💰💰💰
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 1:45pm On Apr 02 |
🤑🤑🤑🤑🤑🤑
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 12:42pm On Apr 06 |
Make money the right way 💰💰💰
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 11:04am On Apr 08 |
Happy new week 🤑🤑🤑
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 5:41pm On Apr 09 |
📌If you have the skill to make money, you will never be broke.
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 8:17am On Apr 10 |
Money must be made 🤑🤑🤑 |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 12:50pm On Apr 15 |
FOREX is life 💵📈📉
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| Re: Why You Should Start Forex Trading �� by Mirasteel: 7:03am On Apr 16 |
Most of us spend time learning forex trading strategies & market analysis skills but don’t even bother to learn the emotional aspect of trading. It is true we talk more about technical & fundamental analysis, and they are more easier to learn. However, emotional skills plays a vital role, and especially if you want to become a successful a trader can become. The reason why most of us fail in trading is not far from lack of mental discipline and emotional control. «««So, Why Do You Need to Control Your Emotions when Trading?»»» With time, for most beginners, you will realize that emotions do not contribute anything to your trading success, rather, it can lead to costly mistakes. So, its essential to try all you can to manage your emotions and focus on the thing that matter, which is to properly engage the market without fear. Trading is a game of odds — sometimes you win, sometimes you lose. ...therefore, the way you feel has no effect on the outcome of any trade. The #1 thing you need is to have a strategy that has an edge in the market — more winners than losers or bigger winners and smaller losers. Your strategy MUST include rules that clearly defines the criteria that must be met before you engage the market. With that in place, you shouldn’t concern yourself with the outcome before placing a trade, and even after the trade, the result shouldn’t bother you, as it has nothing to do with the next trade you are going to take. Profits shouldn’t bring joy, neither should a loss bring sorrow. Do things like a robot! NEVER entertaining the feeling of achievement when you are in front of your trading screen as this may lead you to make unnecessary mistakes that will affect your profitability. For instance, you may be so excited about the last win that you fail to identify the next trade setup, or you place another trade when your trade criteria have not been met. Similarly, after a losing trade, you may be so worried about being wrong again that you miss the next trade setup, and if the setup ends up a winner, you will start regretting why you never took the trade. Important; » Profitability of any strategy depends on taking all the trade setups that occur in the market and executing them properly » So, omitting trades or not taking them properly will definitely reduce your chances of success. » Worse than that, unguarded emotions can make you to betray your risk management strategies — trading without a stop loss — which is the perfect recipe for blowing your trading account «« Check Risk Management»» So... ....The ability to control your emotions is the first skill you have to learn if you want to be a successful forex trader. ...If you DON'T MASTER your emotions, you can sabotage your efforts. The emotions that hinder your trading success; 🔺 Fear of losing which can make u use tight stop loss or close a trade be4 it plays out. 🔺 Fear of being wrong which can make u not to take the next trade. 🔺 Fear of missing out which can make you to jump from sideline and engage the market at the wrong place/time. 🔺 Fear of letting a profit turn to a loss making u not to 'pay the trader.' 🔺 Greed, when you want to have an unrealistic profit in shortest time possible. 🔺 Hope, which makes you; i) to close a trade that is not working out, ii) not to use a stop loss, iii) increase your stop loss while already in a trade, iv) or worse still, practice the martingale strategy😂. 🔺 Overconfidence; The euphoria that comes after every win can make you start considering trading as a riskless adventure, which can lead to making poor decisions in the subsequent trades — for example, trading bigger lot sizes. It often ends with prime tears. 🔺 Inability to execute your orders due to lack of confidence in your strategy #CP. |
| Re: Why You Should Start Forex Trading �� by Mirasteel: 7:10am On Apr 16 |
🔺 Exiting a trade prematurely due to the fear of letting a profit turn to a loss. 🔺 Indiscipline which leads you to make careless mistakes when trading 🔺 Lack of commitment which makes you not to take your trading seriously coz u trade only when u feel like trading will be fun. Trading is a serious business and not a hobby! 🔺 Lack of focus on what is happening in the market increasing your chances of making big mistakes 🔺 Impatience which can make u enter a trade when the setup hasn’t fully formed, move the SL to BE too early and get spiked out, or close a trade prematurely 🔺Regrets which brings disappointment or sadness when the market do not play the way you wanted it to. 🔵 BENEFITS OF CREATING A TRADING PLAN ✔️ Relaxed, stress free trading that is simpler with a plan than it is without one ✔️ Ability to monitor your progress, diagnose faults and amend the plan accordingly ✔️ A plan helps to prevent many psychological issues from taking root ✔️ A plan that is adhered to strictly will reduce the number of bad trades ✔️ A plan will help prevent irrational decisions in the heat of the moment ✔️ A plan enables you to control the only thing you can control - yourself ✔️ Professional traders are highly disciplined. A plan will instill a large measure of discipline into your trading. Gamblers tend to lack both discipline and a plan ✔️ A plan will enable you to trade outside your comfort zone. How many times have you let a loss run and cut a profit short because it was the comfortable thing to do? A plan, executed with discipline, will help to prevent this from happening ✔️ A plan is your roadmap which will enable you to get from wherever you are now to wherever you want to be – i.e. consistent profitability Credit; T2W |
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