While the real purpose is to want the freedom of time, most traders face the screen for hours every day without a clear goal and do not have specific plans every day until some wake-up, continue to face the forex chart to look for opportunities to trade.
Some ask, "How do we want to trade casually without always looking at the chart?"
Before answering this question, try to ask yourself why I always look at the chart even though I have an entry position?
There are two reasons why traders always look at forex charts including:
- Looking for other entry opportunities
- See the price moving to TP or SL
In one situation, you already have an entry but are still looking for another opportunity, it may be good for you to diversify your trading position. But will all these positions benefit you? Worse still all trade positions suffer losses.
This is due to the lack of planning and preparation so that we open many positions in different pairs. Try to master your own technique and determine a setup that has a high probability for-profit and trade setup only until skilled.
I never heard Bruce Lee say, "I'm not afraid of people who practice 10000 types of kicks. What I fear is people who practice one kick as many as 10,000 times. ”
In situation two, this type of trader is already an entry position and will see the price move every minute. This type of trader actually wants to see if the price has hit TP or not which is due to emotional disturbance due to fear of loss.
This disturbing emotion is due to not using the proper risks. For example with a capital of $ 100 you put a position of 1 $ or worse using leverage 1: 1000 and put a position of $ 3. Of course, emotions will be disturbed in this case, especially since you are desperate to earn money.
The solution to these two situations is to realize that forex is not the place for you to generate profit quickly. Never risk the money you need in trading as it will only make matters worse. Use good risk management so that you are calmer in terms of emotional control. Many traders even have the experience, but still lose with emotional factors, let alone a newbie.
Oh, forget, how to trade casually with a calm heart.
The answer is, use good risk management by risking only a 3-5% loss of your total capital in each trade instead of each position.
For example, if you have a capital of $ 1000, it means that in each trade you only risk a loss of 3% which is $ 30, and most importantly this $ 1000 capital is capital that you are willing to lose according to your ability!
The logic is simple if you lose 10 times in a row you only lose $ 300 and there is still $ 700 in your trading account. Aren't you trading at a loss 10 times in a row? That is the point I want to make.
Hope these tips are useful for you. Please click SHARE and LIKE if you like this sharing from me. I will write again later.
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