eToro – Forex Trading Forum

[tosto67]

Psychology is another important factor in trading forex and a lot of people are not mentally prepared. When money is in play, fear, greed, and other emotions make your trading very hard. You gotta make sure you understand the emotional aspects of trading and gotta be prepared to deal with them before your money is in play.A lot of new traders ride an emotional rollercoaster, feeling on top of the world after a win, but down the dumps after a loss.As opposed, professional traders stay calm and relaxed even after a series of losses. They don't let the ups and downs of trading affect them emotionally.When things are going your way, it's normal to feel excited or like a God. Nothing can stop you, you are invincible! It's this overconfidence that can lead you to losses. Any time you made successful trades, you feel like you're safe, and you think there's a little more room for unnecessary risk. Your euphoric state fogs your thinking and you 're so positive that nothing is gonna stop you. When times are golden, it's very easy to forget about your plans you have made to be successful.

[annet1983]

i , for example if have 3 successful trades per day i dont trade anymore, till next day! thats way i protect myself from unnessary loss, same if i have 3 bad trades , i stop and do something else.