Trading is an interesting and profitable activity. However, its component is also a considerable risk. Break-even trade is impossible. No matter what success the trader has achieved, there will still be unsuccessful trade transactions. Sometimes a newcomer to the market initially takes this type of earnings quite seriously. He is making efforts to understand trading as best and as quickly as possible. But despite this, it does not achieve much success. And the secret is that there is not enough discovery for profitable trade quality transactions. In addition, it is necessary to be able to take measures to eliminate potential errors. That’s what I want to talk about in the article today. Errors are most often the result of the trader ignoring three important principles. And all of them are from the field of psychology.
Probability
Trading is always related to probabilities. And every trader should always remember that. The essence of such thinking is as follows. A trader cannot be 100 percent sure of the outcome of a transaction. It can be both profitable and unprofitable. It is also impossible to know the exact amount of the profit or loss received. Based on the first two statements, it can be concluded that the trader cannot guarantee a trading result on open transactions. But risk management is available to him. This should focus on improving trading efficiency.
Self-discipline
Any efforts of the trader to achieve a good professional level will be reduced to no in the absence of self-discipline. The trade plan should be strictly implemented. The trader should be able to assess its risks against the background of a change in the market situation. The question of self-discipline also includes the psychological and physical condition of the trader. As for the psychological state, it should be stable without any emotional outbursts. Physical health must also be given attention. If the trader does not feel well, then this may affect the trade decisions made and, accordingly, on the results. Each trader should use methods that will help him to be in shape.
Responsibility
Trader should be able to take responsibility for what happens in his trade. Only then can the result be gradually improved. Any failures are usually due to the wrong actions of the trader. But errors should not be seen as a personal defeat, but as an opportunity to optimize their trade. Inga Fedorova 26.10.2021 How does a trader avoid potential errors first appear forex-for-you.ru.