Simple Forex Tools

The emotions that hinder your trading success;

🔺 Fear of losing which can make u use tight stop loss or close a trade be4 it plays out.
🔺 Fear of being wrong which can make u not to take the next trade.
🔺 Fear of missing out which can make you to jump from sideline and engage the market at the wrong place/time.
🔺 Fear of letting a profit turn to a loss making u not to 'pay the trader.'
🔺 Greed, when you want to have an unrealistic profit in shortest time possible.
🔺 Hope, which makes you; i) to close a trade that is not working out, ii) not to use a stop loss, iii) increase your stop loss while already in a
trade, iv) or worse still, practice the martingale strategy😂.
🔺 Overconfidence; The euphoria that comes after every win can make you start considering trading as a riskless adventure, which can lead to making poor decisions in the subsequent
trades — for example, trading bigger lot sizes. It often ends with prime tears.
🔺 Inability to execute your orders due to lack of confidence in your strategy
🔺 Exiting a trade prematurely due to the fear of letting a profit turn to a loss.
🔺 Indiscipline which leads you to make careless mistakes when trading
🔺 Lack of commitment which makes you not to take your trading seriously coz u trade only when u feel like trading will be fun. Trading is a serious business and not a hobby!
🔺 Lack of focus on what is happening in the market increasing your chances of making big mistakes
🔺 Impatience which can make u enter a trade when the setup hasn’t fully formed, move the SL to BE too early and get spiked out, or close a trade prematurely
🔺Regrets which brings disappointment or sadness when the market do not play the way you wanted it to.

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Simple Forex Tools

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BENEFITS OF CREATING A TRADING PLAN

✅ Relaxed, stress free trading that is simpler with a plan than it is without one
✅ Ability to monitor your progress, diagnose faults and amend the plan accordingly
✅ A plan helps to prevent many psychological issues from taking root
✅ A plan that is adhered to strictly will reduce the number of bad trades
✅ A plan will help prevent irrational decisions in the heat of the moment
✅ A plan enables you to control the only thing you can control - yourself
✅ Professional traders are highly disciplined. A plan will instill a large measure of discipline into your trading. Gamblers tend to lack both discipline and a plan
✅ A plan will enable you to trade outside your comfort zone. How many times have you let a loss run and cut a profit short because it was the comfortable thing to do? A plan, executed with discipline, will help to prevent this from happening
✅ A plan is your roadmap which will enable you to get from wherever you are now to wherever you want to be – i.e. consistent profitability

🎊 🎉HAPPY TRADING !!!!🎉🎊

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