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Impulse Trading and How to Avoid It
Membro Desde Jun 21, 2020
59 posts
Aug 02, 2020 at 04:58
Membro Desde Jun 21, 2020
59 posts
Impulsive trading is something that all Forex traders struggle with, some more than others. Trading on Impulse if a bad ideal because you are trading without plan, but the huge to just trade.
More often than not, those
Impulse traders turns out to lose a lot and below are best ways to avoid it.
1.Have Plan; Having a Daily plan is one of the best way to avoid impulse trading, make out your daily plan and make stick to it.
2. Chose A time frame; choosing a time frame helps you to avoid impulse trading, make your decisions based on the plans for that time frame.
3. And finally, Reduce the amount of time you spend on Screen, this will definitely make you and free you from the huge to do impulse trading.
More often than not, those
Impulse traders turns out to lose a lot and below are best ways to avoid it.
1.Have Plan; Having a Daily plan is one of the best way to avoid impulse trading, make out your daily plan and make stick to it.
2. Chose A time frame; choosing a time frame helps you to avoid impulse trading, make your decisions based on the plans for that time frame.
3. And finally, Reduce the amount of time you spend on Screen, this will definitely make you and free you from the huge to do impulse trading.
NO EMOTION DURING TRADING.
Aug 17, 2020 at 23:07
Membro Desde Jul 19, 2020
788 posts
A trader should always be patient. The more impulsive you are in trading, the more you will lose. I have seen many traders who want 100% profit in trading. This attitude is the main reason for the loss. And when they lose. Then say trading is not a good thing. You have to follow the plan in trading. If there is any deficit in the plan then there will be a loss. And you have to be disciplined. And you have to follow money management all the time. You should never trade with an impulsive attitude.
Membro Desde Jul 20, 2020
298 posts
Aug 18, 2020 at 00:28
Membro Desde Jul 20, 2020
298 posts
Most of the time you have to accept the loss in trading when trading with an impulsive attitude. Trading is a game of goals and if you want to win in this game of goals, you must show patience. It is wise to accept this loss in trading and move on to trading. If you start over-trading to cover losses, your account may become empty. Therefore, you need to think positive all the time.
Membro Desde Jul 19, 2020
34 posts
Membro Desde Jul 20, 2020
232 posts
Membro Desde Jun 15, 2020
59 posts
Oct 08, 2020 at 10:57
Membro Desde Jun 15, 2020
59 posts
You need to tell yourself that no matter what, you are going to stick to your trading strategy as it has been tested. Entry and exit points must be predetermined using indicators, and then you ought to stick to them. Whenever you feel too overwhelmed, take a stroll outside.
Membro Desde Jul 09, 2020
39 posts
Membro Desde Oct 09, 2020
28 posts
Membro Desde Jul 19, 2020
318 posts
Membro Desde Jul 20, 2020
298 posts
Membro Desde Nov 09, 2020
15 posts
Dec 01, 2020 at 05:36
Membro Desde Apr 15, 2020
219 posts
First of all a trader should be patient always, impulsive trading will lead to loss always. Set a proper goal, plan according to it. Choose a fix time, set a fix entry and exit time according to your strategy. It will reduce your impulsiveness and screen time also.
The more your practice, the more you learn.
Membro Desde Feb 14, 2020
10 posts
Membro Desde Aug 17, 2020
123 posts
Dec 14, 2020 at 05:38
Membro Desde Aug 17, 2020
123 posts
To these three points I would add a fourth saying 'stick to your plan no matter what'. You need to trust your system and trade according to it even if some kind of impulse hits you. If you trade impulses, you lose control over your decisions. Even the best system is not worth much if you can't stick to it.
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