As they say, trading is 90 percent Pyschological.
I agree 110 percent with that statement.
I would like to share my experience with you all, and I am looking for some feedback. I am interested if my current trader psychology is similar to other beginners.
It has been 2 weeks since I started researching forex.
I despise paper trading, I feel that one can learn the most if real money is risked. Naturally I began small with $25,000. So 1 PIP = $2.5.
I have $5650 in my portfolio, of which $5000 is in an equity.
I am currently testing the 4hr trading system posted by Philip. It uses MACD signals. I feel comfortable placing 50 pip stops with this system.
Anyways the plan was to make a trade at night, place my stop, go to bed, and see what happens in the morning.
However. I am getting some anxiety, and stress. Althought I planned to check only a few times a day, I CANNOT remove my eyes from the monitor.
For example I placed an order last night, long EUR. I didn't go to bed untill 3 AM and I got up at 9 am to watch my order. I didn't sleep very well either.
I feel that I need more confidence. And that my current anxiety/stress is a result of my inexeperience. (only two trades)
I want FOREX to be on the BACK of my mind. However I think about it alot during the day. I hope through time my desired trading psychology will develop as it did with trading equities. (I experience 100 times LESS stress in Stock market trading, even though I am risking the Same amount of money).
Anyways I thought I would tell you guys about my experience, and I would like to hear about yours, did you experience similar negative mental states when first startingt out?
I feel this is the most important part of trading, no point in trading if it's going to create a large amount of stress in ones life.
Cheers.
-Can Yorgancioglu
I agree 110 percent with that statement.
I would like to share my experience with you all, and I am looking for some feedback. I am interested if my current trader psychology is similar to other beginners.
It has been 2 weeks since I started researching forex.
I despise paper trading, I feel that one can learn the most if real money is risked. Naturally I began small with $25,000. So 1 PIP = $2.5.
I have $5650 in my portfolio, of which $5000 is in an equity.
I am currently testing the 4hr trading system posted by Philip. It uses MACD signals. I feel comfortable placing 50 pip stops with this system.
Anyways the plan was to make a trade at night, place my stop, go to bed, and see what happens in the morning.
However. I am getting some anxiety, and stress. Althought I planned to check only a few times a day, I CANNOT remove my eyes from the monitor.
For example I placed an order last night, long EUR. I didn't go to bed untill 3 AM and I got up at 9 am to watch my order. I didn't sleep very well either.
I feel that I need more confidence. And that my current anxiety/stress is a result of my inexeperience. (only two trades)
I want FOREX to be on the BACK of my mind. However I think about it alot during the day. I hope through time my desired trading psychology will develop as it did with trading equities. (I experience 100 times LESS stress in Stock market trading, even though I am risking the Same amount of money).
Anyways I thought I would tell you guys about my experience, and I would like to hear about yours, did you experience similar negative mental states when first startingt out?
I feel this is the most important part of trading, no point in trading if it's going to create a large amount of stress in ones life.
Cheers.
-Can Yorgancioglu