fear and lack of concentration

[frontier2002]

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not really
I rarely focus on overbought/oversold indication
rather focus on price movement and acceleration
can be a bit tricky i guess

but I agree having that problem before (and I blew up half the account)
thanks for your reply

I did make some success before just by looking at the price movement until someday i got tired of it cause need to look at the computer screen all the time. So i tried to adjust my style and end up blowing up my account too :whistling.

We human always thinking like to stick to one thought after we master it. But in forex this character don't work. For example on daily time frame based on technical analysis you are very confidence that the market will move to certain level. But in the end the market go for overshot. And it refuse to retrace in that day of your trade and has to carry over to another day. So when the market retrace you probably start to earn few pips but the broker already starting to charge you the rollover fees .

In this dillema nobody can be sure if the market is going for overbought or oversold.

That's why forex is tough. Think about it and adopt this principle you will be a good trader i am sure of that.

 

[Windowsill]

Hi

I struggle, at the moment, with the ability to connect my "mind with my hand".
I have traded over the summer nearly blowing up one account.

Since then I have worked on new system and visually it looks good, yet whenever I try to execute the trade then the fear is coming in and hesitation. The system is good enough to keep give me some profit, however I fear staying in the trade for too long and closing it with very small profit. The risk reward ratio is not working well for me.

I have read M Douglas book on market psychology, not much help as between understanding and actual application remains huge gap.

Could you help me? Also could you tell me how to become more focused and concentrated while entering the trade?

Thank you

Why not trade with really small amounts.

 

[blancspa]

Why not trade with really small amounts.

I am going back to the beginning 0.10p per stake

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Frontrier
I did make some success before just by looking at the price movement until someday i got tired of it cause need to look at the computer screen all the time.

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that`s a good point but I will stick to 5 min time frame for now , then when I get more confidence in the long run , ex look into the futures or commodities or maybe options I will go for different strategies

 

[sighthound]

I am going back to the beginning 0.10p per stake

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Frontrier
I did make some success before just by looking at the price movement until someday i got tired of it cause need to look at the computer screen all the time.

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that`s a good point but I will stick to 5 min time frame for now , then when I get more confidence in the long run , ex look into the futures or commodities or maybe options I will go for different strategies

Blancspa I have just read this thread and would like to ask how are things going now

 

[blancspa]

Hi

Blancspa I have just read this thread and would like to ask how are things going now

I am taking a break while finishing degree and studying for SII exams.
But I hope I will get back soon to where I`ve stopped, as I really miss it

 

[blancspa]

I am taking a break while finishing degree and studying for SII exams.
But I hope I will get back soon to where I`ve stopped, as I really miss it

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I am back
this week ended up with profit (week 1)