Forex Trading psychology, it doesn’t mean lack of knowledge or skills. To become a good trader patience is virtue. Experienced traders handle their emotions well and they do not trade out of greed, they do not expect quick profits and trade with discipline. Forex trading psychology is not a simple topic and includes various aspects. Having a good trading plan, using a proven trading strategy, using proper trading tools, knowing the market situation and making a note of the outcomes are all very important aspects. Managing emotions is the key to success when it comes to Forex trading.
There is only one approach to find out the real performance of the strategy without the influence of psycology. This way is back testing with special software (it can be Forex Tester or built-in tester in TradingView, or something else). Such test would help to find out whether the strategy itself is profitable or not.
That is just general perception that 99% fails, if that would be case then this marker will not be growing. Yes, there are more losers but not that much. Who can handle the pressure of seeing red in his account will survive and make profits one day.
What did you think the percentage of losing traders? Forex club earlier published statistics. There was a slight advantage in the direction of the losers for the period of 3 months. I suspect there will be more losers over the period of the year. Even more for a period of 10 years.
If you count the number of people who won can be even more for the period of 3 months. But the money is definitely an advantage in favor of the losing.
Absolutely right.Psychology is one important in trading career. It will impact our think/action/discipline.Every successful trader have to main their psychology in good shape.
Psychology matters a lot while trading as a trader have to take right decisions in a pressure situation. In the matters of money, most of the people make wrong decisions. Everyone wants to win on the forex market but market does not let most of you to win. It is a truth!
But you really are just a human and not a robot, while there are actually some robots which help you to trade anyway with all that settings. You really need to relax and forget about side things when you trade. Don't do any new mistakes by broking that rule