Vybxx Forex ππΉ
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2 232
SELL LIMIT || XAUUSD
ENTRY @ 4437 β 4440
TP 1: 4405.69
TP 2: 4391
TP3: 4377.21
SL @4445
LOWER RISK AND APPLY PROPER RISK MANAGEMENT
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SELL LIMIT || XAUUSD
ENTRY @ 4437 β 4440
TP 1: 4405.69
TP 2: 4391
TP3: 4377.21
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My entry was really bad on this trade. I may have secured my profit earlier but looking at the price action now, this is losing trade for me.
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Four kinds of trades
One of the most difficult things in trading is to realize and put up with the fact that you cannot be
right in 100 % cases. In fact, if you manage to be right in 60 % in the long run, then you are a true
pro in this game! I think people, in general, have a problem accepting they were wrong. Since
school, we were praised when we were right and punished when we made a mistake. That is one
of the reasons why people have a problem admitting that they were wrong in their trading
analysis and that they had a losing trade. A losing trade isn't necessarily a bad trade though. In the coming days, we will look at this from a different perspective and recognize four kinds of trades. For now, ponder upon this.
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Psychology is a significant part of trading. You can have a really good trading system but when
you arenβt able to follow a plan and stick to your rules, then even a winning system will not work
for you.
In the next few days, I will give you some psychology tips but in the end, it is all about experience. You
need to learn it and experience it yourself, you will probably need to reprogram your head a bit.
The first step to start learning trading psychology is to open a real account. Demo won't do. The
money needs to be real. If the money is real, then your emotions are real. Even with small
amounts of money, you will experience all the emotions that go with trading. You will experience
greed, temptation, fear, despair, failure, triumph... these are emotions that demo account will
never give you. The best thing about it is that even a small trading account will do. Even a small
trading account with 0.01 lot trades is a hundred times better than a demo account.
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GOOD MORNING VYBEXX βοΈβοΈ
I will talk briefly about TRADING PSYCHOLOGY today.
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I had this zone on BTC but it only kissed the magic line and flew.
Those blue lines you see in the zone are specifically areas I was looking at for entry.
2 232
Guys donβt risk your account on this current price action. I am on the chart. I will send signals as soon as I get an opportunity
