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When Should I Be A Brave Trader?

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I have a experience that I am getting profits with consistency then I use low lot and trade with fear, so that to continue this profit position. But when face a single loss , I become greed and brave to use high lot to take a revenge from market and cover my loss as soon as possible. At that time mind does not accept any analysis or other advice. Finally more and more losses in a row. For example If I have earn 20$ with 20 traders then I will lose it with a single trade.

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That is a point where trading psychology comes in.A trader reacts differently after a loss.He may get angry and wants a revenge trade or fear that his strategy isn't working so he may again lose.In my opinion,a trader must know how to take a loss.He must study and analyze his strategy and device a solution how to enter,manage and exit a trade on a sound logic(he must think hard)rather depending on emotions.

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Trading psychology is a matter in Forex market. Because all of us are human beings. And as a human being we all feel angry after a loss or after achieving a profit we feel emotional. Even we feel fear to lose money after another trade. I am trading with FXdirects where I get a strong training to learn how to control all my – fear, emotion, anger and others in order to overcome all these weaknesses.

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There is nothing called surely success in the business of forex. But a foreign currency exchange trader must try to work with effective trading strategies which will consequently allow him to work within his abilities. There is a term risk bearing which means that a trader should not invest in such amount which will completely wipe out his trading position if he faces losses. Thereby be aware of your limit.

 

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