There are so few things in life that we can control them alone. We might just eat healthy food and continue to be overweight or get sick. It’s possible that while we’re driving at the right speed and driving on our own way, we can crash into a drunken driver who’s gone out of his way. We may have study the lesson well, but don’t succeed in the examination, or vice versa, We have not studied at all and accepted with a high grade. The same applies to the Forex market; we may think that everything is under control, but the reality is that the trader cannot control everything when trading. So controlling one hundred percent is an illusion.
Focus on what you can control
Even a new trader must know that in the Forex market, things happen occasionally and even if such incidents do not happen, sudden headlines can cause significant momentum in the market. Likewise, a sudden movement can be reversed without prior warning. No trader can do anything special in the face of examples of this. All we can do is focus on what we can control.
When trading, there are a handful of cases, we can have complete control over them. The ITBFX brokerage will explain these to you in order to establish your business strategy based on this and risk management in a better way.
Controlling the time of entering a trade and leaving it
One of the most obvious items is the time to enter the market and get out of it. When you see the market is read hard and understood, get out of it; just like that! Besides, there is no reason why you should risk your capital when you don’t know where the market is going. In control of this case, it is completely in your hands.
Stop loss control
Only you decide what number Stop Loss should be placed on, and it’s up to you to determine how long your stop loss order is valid. By taking your stop loss level seriously, you can prevent a high percentage of potential losses. With this, ” you will live up today and fight tomorrow”.
Consider making a profit order
A profit order is one of the most preventable cases that a trader can take into account even after opening a position. Unfortunately, many of us were worried that we might not take our profit and see if we could make a few more pips. that’s the sort of spirit man has. The fear of harming us is devastating, especially when it can happen so quickly. If you stick to your profit targets and don’t let your mind drive you to change it, you will benefit more than you think.
Psychology of trades
Let’s be realistic; it’s hard to control what you think and feel. However, we believe that with appropriate tutorials, you can use the psychology of transactions to your advantage. Your inner voice tends to convince you to change your orders or strategy in order to achieve better results. But one of the most important things you can and should control is that you don’t let your inner voice have the right to interfere in your transactions. It seems to us that trading should be scientific; not on feelings or psychological effects. Take time to study the psychology of trades psychology and learn how to resist the inner voice that want to ignore your proven strategies.
If you follow the Persian ITBFX Instagram page, you can safely assume that 90 % of this path has been completed. We share productive material in the field of transactions psychology every day and respond to the questions and issues raised by everyone. So follow our Instagram page this morning.
Learn to accept something you cannot control
Until this point in this paper, we have described the case – controlled items in transactions. But there are many cases that are out of control and acceptance of these items is necessary as part of the transaction process. News events are not in our control. We cannot control the reaction that the market shows towards these events; sometimes things go quite contrary to our expectations. Moreover, even with access to the most advanced graph tools, the market can move in an unpredictable direction. Trading in the Forex market, like other forms of investment, should be done scientifically, but this isn’t quite a scientific market. If so, everyone in the world would be busy with trading, making money, and no one needed to find another way to earn money.
The fact is that you have to believe in your strategy and understand that no strategy and system has always a positive performance; not just your strategy. And as long as this applies to all the world’s strategies, there is no problem in your whole trading. Unless you ‘re yourself trying to use a strategy at an inappropriate time. The most important point is that what you can control is thoroughly under control, research and build a strategy that suits you and your situations.
We hope this will cover all the angles of the issues that have occurred in your mind. If not, please help us complete this by recording your vision. Don’t forget we are waiting for you on the ITBFX Instagram page. There is exciting news on the way.