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In the grip of fear

Most retail traders who are really trying to bring their trading to the next level endure the same problem. The problem is fear. This can be fear to lose it all, fear to give back their newly made profits and most of all, fear for the unknown.
A very common question is ''how to overcome the fear after taking lots of big losses''. This is a question I had to ask myself many times. In the beginning of my journey I endured loss after loss without knowing and realizing why. To become more consistent I started trading more and more.. Hopefully you all realize this is the most stupid thing to do. If not, now you know it is. I also opened positions that were way to big for me simply because I ''thought'' the price would move in my favour. Never think the price will do so just because you think it will.
Realize and evaluate

After about six to twelve months I realized I would not get anywhere with what I were doing at that time. I had to get away from my desk and screen, I had to reevaluate my actions. This was very hard for my as I had to completely step out of my daily routine.
The first days felt exactly as I expected. It was almost as if I were enduring withdrawa…
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Yulia10 avatar
Yulia10 30 Нояб.

nice article

FXNOAD avatar
FXNOAD 30 Нояб.

well done

myfx81 avatar
myfx81 1 Дек.

super good

FXRabbit avatar
FXRabbit 4 Дек.

Well written article!

Blaise avatar
Blaise 7 Дек.

Great article.....Quote at the end summarises it all !

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14/41
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I welcome you first of all in taking interest in my article. The path of a successful trader is about a common tool that every successful trader mostly uses. That tool is known as pivot points and another helpful tool is called Fibonacci retracements.
I will demonstrate the use of pivot points in the picture below:
With the help of pivot points a trader can easily presume the next high or next low of a particular pair for a particular time frame. I prefer using daily and weekly pivot points as they show higher and lower resistance and support points, till where i can either hold on to a certain take profit point.
The trend however is not in human control, so you must also remember that some fundamental could change the flow, so we can calculate the maximum holding stop loss as well using pivot points, but then
again as we human beings are very greedy, we should learn the use of using leverage.
This is the path of a successful trader. A successful trader learns to control his greedy emotions that come in the way, while trading. It is natural as a trader does become greedier after enjoying some great victories. So, how does the successful trader control his leverage? Well, …
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Likerty avatar
Likerty 5 Окт.

Size of the capital definitely matters - a lot..

Mani avatar
Mani 14 Окт.

good article

Airmike avatar
Airmike 23 Окт.

nice article , i wish you good luck

northernwave avatar
northernwave 28 Окт.

good luck.

ivanbgd avatar
ivanbgd 29 Окт.

nice

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33/58
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                     A beginner trader in forex would be best advised to learn a
simple mechanical system and stick with it until he masters it. One of the best
mechanical systems would be to learn price patterns in charts. This is purely a
price action method so the reliability is much higher compared with an
indicator laden system. This is not to shoot down indicators that has a place
in the trader's arsenal but that stage comes after the trader has somewhat mastered
the art of trading and uses the indicator as a confirmation for his entry /
exit. A newbie would be prone to using the indicators as an entry signal
instead of as a secondary confirmation tool. The result will be a blown account
and shattered confidence because we all know indicators are lagging behind
price for the most part. So which mechanical system is more suitable for the
newbie trader? There is one called the Pin Bar, short for "Pinocchio
Bar" which was first coined by Martin J. Pring who is a leader in the
global investment community and also an author of many books on Technical
Analysis. This is in my opinion, one of the
most powerful price patterns in trading. When this Pin Bar is played
according to its pr…
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fzavier avatar
fzavier 13 Февр.

The information which I have so freely shared here, equals to money in the bank for you. If you are serious to trade this strategy.

fzavier avatar
fzavier 14 Февр.

I am planning to share an advanced method of trading Pinbars in future but I want to see how many are interested. Please let me know by your comments here, so that I will be encouraged to share my knowledge with you. I dont want this going into the waste-bin. These are powerful information which I am sharing freely, for your benefit.

fzavier avatar
fzavier 20 Февр.

Anyone wants to discuss this method? Welcome to share your views.

fzavier avatar
fzavier 22 Февр.

This one method alone is capable of making your rich, if you traded with some common sense.

riley avatar
riley 21 Окт.

Excellent explanation of the pinbar. I've been looking for an explanation like this in regards to what actually qualifies one to be a pinbar. I am extremely interested in learning more about the advanced method.

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48/65
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Many of beginner traders start to ask themselves either in
their own mind or even searching in google search engine or if they are keen
learning through many forex courses and forex textbooks.
I know this is not an easy task but to tackle and to answer
this, the traders themselves must know about their personality better at first
rather than looking for solutions outside their boundaries.
Most traders are often trapped by the brokers, forex courses,
forex signal service and many others similar profile to have a super duper hype
of easy cash flow in trying their system or services in a demo account.
In a way, it is true that a demo can help traders to
understand more of how the forex market works and how to start trading. But do
not think that trading forex is very easy as it happens to many novice traders.
It is very common that brokers often set a trap for novice
traders by trading on the demo first and become billionaires easily the next
month or the next year. Is this how you train yourself at the beginning? Or the
brokers help in training you by giving an over leverage feature into your
account?
I think you know what I mean by that. Now I will bring you
deeper and you will real…
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Tinktank avatar
Tinktank 22 Янв.

True words.

Tinktank avatar
Tinktank 22 Янв.

..but you could further explain exactly how newbies can attain the right mindset for successful trading. I'll be looking forward to your next article.

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16/65
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The psychology of successful FX trading
 
They are plenty of trade methods, which turn a few traders into
successful whereas many traders experience failure. The important question is: Why
do many traders fail?
Several researches show that numerous factors contribute to
their failure. For instance, they expect to get lucky and make money. They trade
in luck in order to make money. They think that the trade is a game of chance
and luck and don`t study to acquire a trade system of knowledge to succeed. They
are attracted to the market by greed whereas their greed overcomes their need,
which lead to self-destruction. They don`t focuses properly and as a lack of
concentration, they dismiss opportunities. They don`t have a defined trading
strategy. Unsuccessful traders follow emotions more than reasons and they
are unable to handle the stress. They don`t pay attention to the facts and logics.
Various researches indicate that the human brain is divided
into two lobs: the left and the right lobes. The left lobe functionality is
analytical, logical, rational, realistic and intellectual in contrast, the right
lobe involves emotional, subconscious, intuitive, sensitive, and imagi…
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ikhall avatar
ikhall 26 Нояб.

So true about implementing the proper indicators for your specific strategy! Would you mind reading my article and letting me know what you think? http://www.dukascopy.com/fxcomm/fx-article-contest/?action=read&article=Retail-Positioning-The-Scary-Uncle&id=365

AdrianWS avatar
AdrianWS 29 Нояб.

Nice article, hope to read more from you in the future! Definetely agree, you have to be able to control emotions.

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