Skip to Content

Changes for page Forex

Last modified by Drunk Monkey on 2022-12-23 09:28
From version 15.1
edited by Drunk Monkey
on 2020-11-13 06:22
Change comment: There is no comment for this version
To version 16.1
edited by Drunk Monkey
on 2020-11-13 06:28
Change comment: There is no comment for this version

Summary

Details

Page properties
Content
... ... @@ -51,8 +51,8 @@
51 51  
52 52  >Abbreviations you might find helpful
53 53  >##PDH  - Previous day high##
54 ->##PDL  - Previous Day Low
55 ->##PWH  - Previous Week High
54 +>##PDL  - Previous Day Low##
55 +>##PWH  - Previous Week High##
56 56  >##PWL  - Previous Week Low##
57 57  >##BMS  - Break in Market Structure##
58 58  >##SMS  - Shift in Market Structure##
... ... @@ -93,3 +93,29 @@
93 93  >##-0.62 Target 2##
94 94  >##-0.27 Target 1##
95 95  >##-1 Symmetrical Swing##
96 +
97 +=== Psychology ===
98 +
99 +The four primary of trading fears.
100 +
101 +~1. Fear of being wrong.
102 +
103 +2. Fear of losing money.
104 +
105 +3. Fear of missing out.
106 +
107 +4. Fear of losing money on the table.
108 +
109 +Successful Trader need to overcome all these 4 things
110 +
111 +==== The 5 Stages Of A Trader’s Development: ====
112 +
113 +**Stage One: Unconscious Incompetence**
114 +
115 +This is the first step you take when starting to look into trading. You know that it is a good way of making money because you’ve heard so many things about it and heard of so many millionaires. Unfortunately, just like when you first desire to drive a car you think it will be easy – after all, how hard can it be? Price either moves up or down – what’s the big secret to that then – let’s get cracking!
116 +
117 +Unfortunately, just as when you first take your place in front of a steering wheel you find very quickly that you haven’t got the first damn clue about what you’re trying to do.
118 +
119 +You take lots of trades and lots of risks. When you enter a trade, it turns against you, so you reverse and it turns again, and again, and again. You may have initial success and that’s even worse because it tells your brain that this really is simple and you start to risk more money. You try to turn around your losses by doubling up every time you trade. Sometimes you’ll get away with it but more often than not you will come away scathed and bruised. You are totally oblivious to your incompetence at trading.
120 +
121 +