they lose time, but also money and the motivation to trade. At times, anchoring tends to cause traders to rely on obsolete and irrelevant information, which of course won't help them to trade successfully. That common trait is fear, which creates the 'fight or flight' response in humans. It's understandable for traders to feel fear when they are trading. Overconfidence Bias, lesson number one in Forex trading psychology is to watch out for trading euphoria.
Unfortunately, it is this fight or flight bitcoin forum australia response which can cause the downfall of many traders. However, this can steer you away from a carefully planned trading strategy. You have to be comfortable with accepting that mistakes are inevitable, especially in the early stages. Instead of focusing on the long term plan, your mind wants to focus on making the best out of this short term losing position. We cannot change what we have evolved to feel over millions of years, but we can change how we approach these feelings, by studying the psychology of successful Forex traders and then applying the findings.
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