These things require high disciplinary measures. Not only discipline and patience but experience is also required for things like Price action. Most of us cannot stick to our own rules in forex which makes us one of loosers in forex. 

Agree on all things. But it is vey hard to stick to these rules in practical. Countless articles have been written on patience, discipline, risk/reward and emotions but not effective enough to make people practice these things.

Another general article on common topic. 

@afm. u r good in article writing. But I really want to see how u trade on live account. I have no doubt in theoratical knowledge as I have read many of ur articles. But I have never seen any live account link of urs. 

Why dont u make a live account. Dont u think it will support ur articles and coaching skills.

Fear of loss makes us open and close trades without much thinking. I am amazed to see how money managers manage large sum of money successfully. It is like having a lot of responsibilities and working like robot. No emotions, no recklessness  and no over aggression.

this is a very interesting post as i also took up Psychology in college this is really a though that would really be worth considering especially for a lot of us here who have great interest on forex trading. this is an article that i hope a lot of other members would also be able to read as different views and opinions may arise as well and this would be a great way to foster the minds of the people and be able to know how people really think and how they understand things. i really like the write-up and i agree to the ideas presented though nowadays a lot of rules really has to be bent in order to get to your goal but i guess its part of it.

Originally posted by dmalfa

this is a very interesting post as i also took up Psychology in college this is really a though that would really be worth considering especially for a lot of us here who have great interest on forex trading. this is an article that i hope a lot of other members would also be able to read as different views and opinions may arise as well and this would be a great way to foster the minds of the people and be able to know how people really think and how they understand things. i really like the write-up and i agree to the ideas presented though nowadays a lot of rules really has to be bent in order to get to your goal but i guess its part of it.

Well college psychology and practical psychology is completely different. You cannot learn to control ur emotions just by reading theory. It is something that u can learn by practice. Some traders learn it fastly and some learn it in very long time. 

And yes we have to define our own rules in forex. These articles can be helpful in defining basics but it is not enough to be successful. These articles r just personal opinions of authors. 

Originally posted by Jogi

 

Originally posted by dmalfa

 

this is a very interesting post as i also took up Psychology in college this is really a though that would really be worth considering especially for a lot of us here who have great interest on forex trading. this is an article that i hope a lot of other members would also be able to read as different views and opinions may arise as well and this would be a great way to foster the minds of the people and be able to know how people really think and how they understand things. i really like the write-up and i agree to the ideas presented though nowadays a lot of rules really has to be bent in order to get to your goal but i guess its part of it.

 

 

Well college psychology and practical psychology is completely different. You cannot learn to control ur emotions just by reading theory. It is something that u can learn by practice. Some traders learn it fastly and some learn it in very long time. 

And yes we have to define our own rules in forex. These articles can be helpful in defining basics but it is not enough to be successful. These articles r just personal opinions of authors. 

Yes that is what I said that theoratically u can do anything but practically u need a lot of practice. Especially incase of forex u need to practice for years to control ur emotions and be disciplined. 

Originally posted by asiaforexmentor

Guys.. this is something important which i want you guys to think about.

Most of us spend most of our time looking in charts, looking for good entries to

enter. And we spend all our time in that.

But are we doing the right thing all these while?

let us step out of our charts and look at the entire forex picture.

Let us reflect on how we can improve our forex game.

what are the things that we are doing wrong and should remove.

what are the things that we should be doing, but did not do?

what are the things that we are doing correctly and should keep doing

Let us look deeper..

What is our general risk reward ratio, – is it good enough for our account size

to grow and cover our loss we take in the mean while

what is our risk % size – is it too much or too little?

Did you enter the same position size on EVERY trade? are you discipline enough

to do that.

Price Action – Remember this is king in forex, did you enter with price action or

without it?

Emotions – (Entry) do we let emotions affect us as to when we enter the trade

(afraid of missing a trade)

is it because of missing a trade, we fail to enter on the break of the price

action bar + 10 pips. Instead we entered on the close of the bar and made a lot

of losses.

Emotions – (Exits) do we exit our trade base on emotions. How ofter does it

happen. did we stick to our initial plan?

Stop loss – did we shift our stop loss accordingly. Did we ever shift back our

stop loss because we hope it will go back to our direction we wanted?

Picky – are we losing money because we are not picky enough on our trades. Do we

enter base on 3 to 5 reasons or only 1 reason?

Overtrading – do we tend to over trade because we do not want to waste our time

looking at charts but not entering. did we enter more trades to grow our account

but instead make more losses.

Above are some reasons.

i want you guys to step back and think of the reasons that is affecting you. I

want all of us to improve our game further. and not just trade blindly.

Remember – CONFLUENCE is the key. Confluence means many reasons and not only 1

reason to enter.

Confluence makes you picky, confluence removes overtrading.

Postion sizing and money management is VERY IMPORTANT. If you are still not

implementing it. PLEASE CLOSE YOUR ACCOUNT. i do not want you to lose any more

money. PERIOD.

Remember to COMPOUND. this is what makes us FULL time forex traders and not

wannabes.

 

Ezekiel Chew

www.asiaforexmentor.com

Noted with big thanks. Thank you for sharing. Those are really big help to traders esp to newbies.