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Forex Psychology Guides 2024


Forex Psychology is a field of expertise that is essential to be acknowledged by any trader willing to achieve continuous positive results from their operations in the financial markets. It is important to understand that trading theory is indispensable, yet to apply it in practice one needs to be well-prepared also in terms of clear mind and cool spirit. It is commonly known that such psychological factors as fear, as well as euphoria, might destroy any achievement in a short time span. Forex psychology brings to the limelight such essential aspects of human action as personal and collective behavior or market sentiment. Our set of articles aims at helping you become aware of psychological traps endangering successful trading, which, in the long run, will help you trade with confidence and avoid excessive losses.

Mastering Trading Psychology: A Tale of Two Traders

Trading psychology is a critical yet often underestimated aspect of trading, and its impact can be the difference between success and failure. To shed light on this topic...

Transforming Tension into Triumph: Mastering the Mindset for Effective Trading

The psychological landscape of trading financial markets is both complex and nuanced, requiring not only technical acumen and strategic prowess but also a mastery over the inner game...

The Trader's Mindset: Addressing Stagnant Profits

In the dynamic world of trading, a trader's mental equilibrium is pivotal to decision-making and consistent profit growth. Here, we delve into the essence of trading psychology, the prevalent psychological barriers traders face...

Psychology Of A Trader: How To Deal With FOMO?

Have you ever caught yourself in a situation where you feel anxiety over the fear of missing out on a specific trading opportunity?

In the red: How color affects a trader’s behavior

Have you ever wondered how the colors on the chart affect your trading? Color has a powerful effect on our psychology and emotional state. The psychological effect of color...

Learning and personal development in trading psychology

Trading psychology refers to the study of human psychology and the way it can affect trading behaviour. It is considered a key contributing factor to determining trading outcomes, positive and negative, because of its influence on decision-making...

XM Human Broker - Transparent, Fair and Focused on the Client

No hidden terms in pricing, execution, or promotions. Same quality of services, market order execution and level of support for all clients regardless of investment size, investment goals and financial situation. Easy and convenient systems for opening and managing account(s), for depositing or withdrawing funds. and for trading the international markets.

Empowering Women in Trading

The celebration of International Women’s Day often places emphasis on the need for greater gender equality, and empowerment of women. However...

Top 3 Meditation Practices for Forex Traders

Trading is often a very stressful job that requires traders to be in a constant state of concentration. It’s no secret that following theory is only a part of what traders need to do to become successful...

Gambling Psychology In Trading

A lot of people decide to start trading because they think it is an easy and quick way to earn money. They treat trading as a game, falling victim to the so-called gambling psychology...

Overcoming Fear: What Leads To Losses In Trading

Everybody makes mistakes sometimes - that's absolutely normal. Mistakes are especially common at the beginning of the professional journey. But the problem is not about them...

Trading Psychology: What Makes You Lose Money

All traders are different, but mistakes of psychological nature do not depend on gender or geographical factor. This allows us to highlight several of the most common problems...

Cognitive Bias That Can Affect Your Trading

A cognitive bias is a systematic flaw in reasoning that can lead to making wrong decisions while investing. A common maxim in investing is that "you are your own worst enemy"...

The Psychology Of Trading: How To Manage Your Emotions

The psychology of trading is one of the cornerstones of success, ignoring it can lead to disaster. For example, Nick Leeson single-handedly...

How to be a Successful Trader? Tips to Improve Your Trading Mindset

You might have heard a lot of trading coaches say that a positive trading mindset is crucial if you want to achieve something in the trading world. Sounds unlikely, doesn’t it? But reality shows that trading mindset is...

It's all about your Trading Psychology

As you prepare to start your trading day, what's the first thing that comes to mind? Is it your trading strategy? Are you thinking about different ways to minimize risk in the markets and boost your profits...

Five Trading Myths You May Believe Are True but Aren't

Want to know some truths about trading? Regrettably, the trading world is one of the spheres with many trading myths – things that sound like facts but are not...

The Best Online Brokers 2024

In the ever-evolving world of financial markets, the role of an online broker remains pivotal for investors aiming for success. As we step into 2024, the landscape of stock trading is more dynamic and technology-driven than ever, necessitating a guide to navigate the plethora of options available. This comprehensive review aims to dissect the essential aspects of choosing a broker, ensuring that both novice and experienced investors can make informed decisions.

5 Steps to Deal with Trading Losses

XPro Markets - Trying to find ways to overcome the feeling of losing? Keep reading to discover effective ways to regain your trading confidence...

Common Trading Mistakes and How to Avoid Them

Have you ever wondered what helped all those professionals of Wall Street become successful? You will be surprised, but the key to their reached heights is hidden in their mistakes...

Behavioural Biases in Trading: How to Avoid Them

Financial economists like to believe investors make investment decisions based on the principles of rationality and optimising returns. However, in the real world, this simply isn’t true

Is trading mindset more important than trading strategy?

Strategy is very important for entrepreneurs and can help them make a profit. Many entrepreneurs often mistake strategy as the most...

Boring trading: reasons why your trading is not fun anymore

Sometimes you realize that you fell into a rut and your trading got boring. You've lost that passion and drive, you’re not excited like at the very beginning when you were making...

TOP 5 Must-read Books on Psychology of Trading

Profiting on Olymp Trade or another online trading platform is not only about finding the right strategy. It has much to do with psychology and self-discipline...

How to Cope with Your First Failure on the Market?

If you've suffered your first loss trading, you may feel like giving up. But, remember, this is a turning point for you and your trading journey. Stop now, and you will...

Trading mistakes every trader should avoid

The volatility of the market makes it more exciting to traders, which can be a trap because of greed takeover. Some traders fall victim to making one or several...

How to set your financial goals and follow through with them

Want to set financial goals for 2021 but have trouble with achieving them? There is no actual formula to how you can make this happen, but there are certainly...

Yes, we can: women in trading

We take the biggest inspiration in the stories of other people. They encourage us and help us find our way. This time we learn about the stories of four women...

Top Forex Expert Advisors 2024: Performance, Strategy, and Reliability Review

An annual roundup reviewing the most successful Forex Expert Advisors (EAs) based on their performance, strategies employed, reliability, and user feedback. This piece would provide insights into which EAs have been market leaders and why.

Human resilience: the lessons we took from the pandemic

Human resilience in the face of a public health risk and economic disaster does not mean that people haven't experienced difficulty or anguish...

How to Succeed in Forex Trading

When entering forex, proper training is paramount. Relying solely on intuition is not sufficient to help one succeed in this field. Analysis and proper manipulation of the market...

Know the Past to Create Your Future or the Brief Forex History

Where did Forex come from, and why we should know about its evolution? Global Forex market daily turnover hits $6.6t in 2020. Impressive, isn't it?

How to defeat the fear in Forex trading?

Fear is a natural emotion that people face a lot throughout their life. And since Forex is still quite a risky business, many traders, both beginners and experienced ones, have...

Trading, the business of opportunities

Globally, people are interested in business ideas that guarantee a steady source of income. It becomes more attractive if such ideas can be implemented at their...

3 things you can do after a long day of trading

Did you have a long and exhausting day of trading? Then you need to find ways to rest your mind and body. Recharge your powers by taking advantage of quality relaxation...

Becoming a pro: dialectics of studying

Every development process is particular to the one who is studying. The same applies to trading skills. Although all traders have similar objectives - becoming more...

Stay Away From Suspicion

When you choose to do what you like but your mind is clouded by suspicious thoughts, then there is a risk of losing the substance. It will make you question your every choice...

Is earning money online trough forex trading really possible?

Well - it is - but it is not that easy. You cannot enter the financial market expecting to become a millionaire within a few days. But if you are willing to put some time in it...

Stay Away From Suspicion

Suspicion can damage the image of what we perceive as real. When you choose to do what you like but your mind is clouded by suspicious thoughts, then there...

Here's How to Trade Smart During the Coronavirus Outbreak

You are more likely to panic when your investments drop and quickly sell out your assets, however, this is not the best way to react when the markets go down...

How our fears prevent us from quitting the unsatisfying career?

You may have heard the famous quotation: "Have the courage to follow your heart and intuition. They somehow already know what you truly want to become". There are the...

How To Regain Your Confidence In Trading

After a big loss, confidence can be running low. Of course, there are many reasons why traders lose money, such as lack of market knowledge, a poor risk...

Top Five Attitudes of Successful Traders

Your attitude toward trading makes a huge difference in your success. What kind of attitude and thinking that's needed to become a successful trader? You should always...

Five Reasons Why Traders Lose Money

By various estimates, 90% of traders have lost their deposited funds (completely or partially) at least once while trading in Forex. We compiled the most...

The psychology of Forex trading

The financial market is rich in opportunities that are available to anybody who is interested in earning money. Many traders succumb to the impulse and...

Principles of successful trading

At first glance, trading in financial markets is something mystical, since there is no definite formula for success. It requires talent, the ability to balance...

Errors of traders when opening a transaction

Human's brain was formed in the conditions very different from the ones traders have to work with now. Many decision-making patterns characteristic for...

Forex Trading Traps: 4 Tips How To Avoid Them

You open an order, the market goes against you, trading systems do not work, the order is closed by Stop Loss...

How to overcome fear and frustration in Forex trading?

Brett Steenbarger, Ph.D., is an author of many popular books on the psychology of trading. He also coaches...

The power of trading psychology

Identifying your strengths as opposed to weaknesses can really help you step up your trading game. Learn how to do it with three simple steps...

Psychology of trade profit targets

Closing the trade at the most favourable price level is equally as important as getting into the trade at the right time. In the end, the price level...

Could Forex be best job you'll ever have?

Forex trading allows you to be free and explore your true passions. Find out all the reasons why it could be the best job ever. Some people are not cut...

Why Women Trade Better Than Men

According to statistical evidence collected by Warwick Business School, women traders outperform men by 1.8%, despite trading...

How to boost your mojo

Trading is not a 9-5 job that finishes when you stop. it never sleeps. When you're not trading, you're reading and learning to get better. But there are times...

Why Forex traders lose money

Let's address the issue of losses, and ask ourselves why Forex traders lose money. Learn real statistics and actual reasons why forex traders lose money...

Why Most Forex Traders Fail: Do You Have What It Takes?

Forex trading just like any trading is a lot about psychology. Do you know the most common pitfalls among failing forex traders? Do you have what it takes to become...


Editors' Picks

The Top Forex Expert Advisors 2024: Performance, Strategy, and Reliability Review

An annual roundup reviewing the most successful Forex Expert Advisors (EAs) based on their performance, strategies employed, reliability, and user feedback. This piece would provide insights into which EAs have been market leaders and why.

The Evolution of Forex Expert Advisors: Navigating the Path of Technological Revolution

The concept of automated trading has been around for decades, but the accessibility and sophistication of Forex EAs have seen significant advancements in the past few years. Initially, automated trading systems were rudimentary, focusing on simple indicators like moving averages.

The Impact of EAs on Forex Trading: A Double-Edged Sword

By enabling continuous, algorithm-based trading, EAs contribute to the efficiency of the Forex market. They can instantly react to market movements and news events, providing liquidity and stabilizing currency prices through their high-volume trading activities.

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