y stop-loss order by the 2/3 ratio to my trading goal. i.e.; when I set my trading goal to reach 15 pips of profits, I set my stop-loss order at 10 pips of loss.

Fact 4. People do need others. When you're in doubt, try to ask help from others whether they are other traders, forex experts, financial planners or maybe your partners. A combination of your own conclusion and other opinions are the finest way to make better decision for your trading. Do not over confidence, but don't be over hanging either. If you're still unsure after hearing others opinions, DON'T trade -- your instinct is worth

Maybe you've heard a lot about how profitable forex trading is and want to make a living by being a forex trader. My advice is DON'T -- before you're able to continuously make a steady profits in your trading day. For most traders, his / her emotions are their most enemies that keep them far from begin to steadily profiting in their trades. The most problem is we can't just waste away those emotions from us. In order to overcome our emotions, we have to have a solid self management program to increase our emotional maturity. (According in my perception) There are 4 area to consider while dealing with our psychological aspect as a forex trader; fear, greed, safety, and confidence.

Fact 1. Not everybody can normally work or stay calm under pressure. The pressure within forex affects trader stress in various levels. Whatever system that applied in our trading, there's always a probability of winning or loosing that can't be predicted. Some traders may still psychologically unaffected whenever he win $100 or loosing $300. But others may begin to panic when loosing $10. Size does count in affecting our emotions. Ask yourself, “can you afford that amount of money in your trade?”. Not placing a trade against the odds with money which you can't afford to loose is your step to overcome your fear in trading.

Fact 2. Many traders are gambling with their trades, take a frequently short term trading and using a high leverage in order to achieve higher profits. If you're one of them, it means that you've swallowed by your own greed. Immediately change your risky trading behavior! No matter how much you're winning right now, that behavior is just carrying you to the end of the road to ruin yourself.

I didn't say that short term is a bad strategy. But too much short term trading in one trading day is disaster. By my own experience 2-4 trade in a day is fair enough. Leveraging the trade isn't 'forbidden' either, but don’t over leverage. Below 10:1 are consider as a safe level, up to 50:1 are risky but still fair enough, and above that is just another disaster.

Fact 3. There is no certainty in the forex market. In the real world, people feel unharmed and emotionally stable when knowing that there is a safety mechanism to protect them. In your forex trading, use your stop-loss order wisely to ensure that your trading is safe enough and unable to harm you badly. I use to set my stop-loss order by the 2/3 ratio to my trading goal. i.e.; when I set my trading goal to reach 15 pips of profits, I set my stop-loss order at 10 pips of loss.

Fact 4. People do need others. When you're in doubt, try to ask help from others whether they are other traders, forex experts, financial planners or maybe your partners. A combination of your own conclusion and other opinions are the finest way to make better decision for your trading. Do not over confidence, but don't be over hanging either. If you're still unsure after hearing others opinions, DON'T trade -- your instinct is worth

h our psychological aspect as a forex trader; fear, greed, safety, and confidence.

Fact 1. Not everybody can normally work or stay calm under pressure. The pressure within forex affects trader stress in various levels. Whatever system that applied in our trading, there's always a probability of winning or loosing that can't be predicted. Some traders may still psychologically unaffected whenever he win $100 or loosing $300. But others may begin to panic when loosing $10. Size does count in affecting our emotions. Ask yourself, “can you afford that amount of money in your trade?”. Not placing a trade against the odds with money which you can't afford to loose is your step to overcome your fear in trading.

Fact 2. Many traders are gambling with their trades, take a frequently short term trading and using a high leverage in order to achieve higher profits. If you're one of them, it means that you've swallowed by your own greed. Immediately change your risky trading behavior! No matter how much you're winning right now, that behavior is just carrying you to the end of the road to ruin yourself.

I didn't say that short term is a bad strategy. But too much short term trading in one trading day is disaster. By my own experience 2-4 trade in a day is fair enough. Leveraging the trade isn't 'forbidden' either, but don’t over leverage. Below 10:1 are consider as a safe level, up to 50:1 are risky but still fair enough, and above that is just another disaster.

Fact 3. There is no certainty in the forex market. In the real world, people feel unharmed and emotionally stable when knowing that there is a safety mechanism to protect them. In your forex trading, use your stop-loss order wisely to ensure that your trading is safe enough and unable to harm you badly. I use to set my stop-loss order by the 2/3 ratio to my trading goal. i.e.; when I set my trading goal to reach 15 pips of profits, I set my stop-loss order at 10 pips of loss.

Fact 4. People do need others. When you're in doubt, try to ask help from others whether they are other traders, forex experts, financial planners or maybe your partners. A combination of your own conclusion and other opinions are the finest way to make better decision for your trading. Do not over confidence, but don't be over hanging either. If you're still unsure after hearing others opinions, DON'T trade -- your instinct is worth

trade against the odds with money which you can't afford to loose is your step to overcome your fear in trading.

Fact 2. Many traders are gambling with their trades, take a frequently short term trading and using a high leverage in order to achieve higher profits. If you're one of them, it means that you've swallowed by your own greed. Immediately change your risky trading behavior! No matter how much you're winning right now, that behavior is just carrying you to the end of the road to ruin yourself.

I didn't say that short term is a bad strategy. But too much short term trading in one trading day is disaster. By my own experience 2-4 trade in a day is fair enough. Leveraging the trade isn't 'forbidden' either, but don’t over leverage. Below 10:1 are consider as a safe level, up to 50:1 are risky but still fair enough, and above that is just another disaster.

Fact 3. There is no certainty in the forex market. In the real world, people feel unharmed and emotionally stable when knowing that there is a safety mechanism to protect them. In your forex trading, use your stop-loss order wisely to ensure that your trading is safe enough and unable to harm you badly. I use to set my stop-loss order by the 2/3 ratio to my trading goal. i.e.; when I set my trading goal to reach 15 pips of profits, I set my stop-loss order at 10 pips of loss.

Fact 4. People do need others. When you're in doubt, try to ask help from others whether they are other traders, forex experts, financial planners or maybe your partners. A combination of your own conclusion and other opinions are the finest way to make better decision for your trading. Do not over confidence, but don't be over hanging either. If you're still unsure after hearing others opinions, DON'T trade -- your instinct is worth

trading day is disaster. By my own experience 2-4 trade in a day is fair enough. Leveraging the trade isn't 'forbidden' either, but don’t over leverage. Below 10:1 are consider as a safe level, up to 50:1 are risky but still fair enough, and above that is just another disaster.

Fact 3. There is no certainty in the forex market. In the real world, people feel unharmed and emotionally stable when knowing that there is a safety mechanism to protect them. In your forex trading, use your stop-loss order wisely to ensure that your trading is safe enough and unable to harm you badly. I use to set my stop-loss order by the 2/3 ratio to my trading goal. i.e.; when I set my trading goal to reach 15 pips of profits, I set my stop-loss order at 10 pips of loss.

Fact 4. People do need others. When you're in doubt, try to ask help from others whether they are other traders, forex experts, financial planners or maybe your partners. A combination of your own conclusion and other opinions are the finest way to make better decision for your trading. Do not over confidence, but don't be over hanging either. If you're still unsure after hearing others opinions, DON'T trade -- your instinct is worth

y stop-loss order by the 2/3 ratio to my trading goal. i.e.; when I set my trading goal to reach 15 pips of profits, I set my stop-loss order at 10 pips of loss.

Fact 4. People do need others. When you're in doubt, try to ask help from others whether they are other traders, forex experts, financial planners or maybe your partners. A combination of your own conclusion and other opinions are the finest way to make better decision for your trading. Do not over confidence, but don't be over hanging either. If you're still unsure after hearing others opinions, DON'T trade -- your instinct is worth to follow. There are always another time for you to trade later...

Happy Trading, Octa

http://forexocta.blogspot.com

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