Serious tips to make money from Forex
That’s why trading mastery and self-mastery are intertwined, so if you want to prove yourself in trading, you need to do some self-improvement meditation, reading, journaling, metacognition, working on your beliefs, your self-image, your awareness, that kind of meta-skills, And learn how to learn, I guarantee you this will give you a greater return than focusing on learning a new indicator. You fail at technical strategies because of your behavior, not your style.
Serious tips to make money from Forex
Another big mistake is emotional trading and impulsive trading. Now I’m not going to say emotions are bad or that you should be robotic you should feel your emotions more. Fact you should focus on your emotions more when you are trading what do you feel in certain situations before you enter a trade, do you feel a little anxious if you miss a trade, how exactly do you feel in that scenario, you should be more aware of your emotions? When you trade.
You don’t try to control it, you don’t want to control your emotions, you want to use them, you want to feel them as deeply as possible, a lot of people think I’m an emotionless robot when I trade but I focus on feeling my emotions as deeply as possible, and that’s because as manual traders, We as traders are discretionary, our intuition is what makes you profitable, and intuition is a kind of gut feeling.
What makes you profitable is your emotions in Forex
Focusing on those feelings, how can you use that in certain situations when I was unprofitable, I tried to stop my feelings and not use them and not focus on them and control them and fight them but that’s just what leads you to be more engaged with them and I was pumped when I felt like they were accepting them just the way they were and then I looked To what extent it relates to actual market data.
It became beneficial for me to improve my trading and not something detrimental and made it more difficult, so think of your emotions as another data point. Point out that if you’re feeling fearful, it could be because you’re looking at your emotions as another data point, and that’s kind of called live market feedback, So your intuition is a feeling, Fe can be a good data point if you’re in a winning trade and you’re starting to get scared.
And that’s not a bad thing, look at it, are we in the structure that we’re rejecting from is the volume is kind of decreasing and the movement seems like it’s kind of an overuse of that emotion with reality, so you should look at it as an indicator to manage your trading, it might be entry to exit A great thing I do is when I start to feel hope in losing, I cut it off immediately, hope is a very bad feeling when you lose and it will lead you to increase your losses a lot, so you focus and you want to focus on your feelings and feel them as deeply as possible.
The amount of time it takes in Forex
This was the biggest mistake I took the amount of time it takes, it’s just risk management, it’s simple, it’s boring, no one likes to talk about it, it’s focused on something else but that’s the most important thing, that’s what you spend most of your time doing Once you are done your technique and strategy will stop once you get good risk management, so once you get good psychological control that you will focus most of your time on risk management only.
The strategy will take care of itself uh, this is where most people go wrong, uh, this trading isn’t about making money, it’s about managing risk, so people don’t understand technical analysis, you’re drawing charts, you’re not drawing areas that you don’t draw when you enter, you don’t put a stop loss, you take profit, and this is not about making money, all this technical analysis is not about making money, it’s about managing risk, determining market structure, and your technical approach is not very good for making profit in reality, it’s very difficult, It’s all about risk management.
Set a Forex stop loss for a trade that you think is losing
Setting a stop loss at an era where you think your trade will be invalid or setting a take profit where you think the price will react or reverse in the opposite direction from the full point Technical analysis is only for risk management and that is why you have a stop loss and a take profit and I was in my mind that I am doing all this to gain money.
You’re not doing all this to make money, you’re just doing it to manage risk, not trying to control the outcome, you’re giving up giving in to the markets, you’re separating yourself from the outcome, and that’s when you become profitable, that’s when you achieve, that’s when you stop… Facing any emotional problems. But you find demo trading very easy, that’s why you find demo trading so easy.
Once you start making real money in Forex you start making mistakes
Where you trade well on the demo account is once the real money starts making mistakes, it becomes a lot more difficult, just because you get attached to the outcome. Once you let go of that giving up and focus on managing risk instead of making money, you will become profitable, I guarantee you. That and the last mistake is just failing to adapt to the labeling conditions. Trading is difficult because conditions are always changing, there is always new information coming out there and there is always a different fundamental truth that affects the magnitude of news volatility.
So you want to trade constantly, yes but that’s where you can’t take a purely mechanical approach, there has to be a judgmental intuition where you can adjust to different conditions and fluctuations once you can. I focused on how my trading volume was making a huge improvement, so looking at how big the candle bars were and what the price was doing over the last week, last month, and probably over the last four hours in the past day.
summary
I’m constantly adapting to different market conditions while updating knowledge Be aware of where you are in the monthly cycles, daily cycles, hourly, and price of fractal cycles, what happens on the higher time frames happens on the lower time frames, and you want to build that awareness, build that Intuition about adapting to different circumstances.
