How to Overcome Stuttering When Trading Forex
Most beginner forex traders will usually feel stutter when just starting trading. Although previously had done a simulation through a demo account provided by the chosen forex broker. But still “sensations” that will be felt in a different real account. Obviously, because this time real money is involved. If you lose, the loss suffered is not just a minus number in the transaction report. Those who will be “injured” are not only “self-esteem”, but also money coffers.
Actually, it’s not just beginner forex traders who often feel stutter when going to make transactions. There are also many “old forex traders” who get the same thing, which is when they will start trading again after being vacuumed due to certain things.
Did you know that all traders have had something like that?
Stuttering ahead of the initial transaction is a natural thing and often happens. Most of the causes are lack of experience. But actually that’s not the only cause. There are at least a few things that cause a novice forex trader to stutter when he starts trading.
This time, I will discuss some things that can lead to stuttering when you are just about to start forex trading. The hope, if you already know the cause, you will be able to avoid it.
Don’t have Forex trading skills.
Of course. Let alone forex trading, told to splash into the pool, people will stutter if they can’t swim.
Don’t have a Forex trading system.
Most beginners just try it. Very rarely beginners have a good trading system. Even if they are there, they are only interested in “trailing” what the old trader did.
What is meant by trading system here is the method of analysis / trading method that suits your role as a trader. Of course, besides being suitable for the role, the trading system must also have “passed the test”.
You absolutely have to test the forex trading system that you will use through simulation in a demo account. If the results are good (consistent profit), then there is no reason to doubt the authenticity of the trading system. But remember that in testing the trading system you must also be objective. Make sure you follow the rules applied by the system. Don’t be violated, because that will reflect what you will do and get in real trading.
Don’t have a trading plan
This is also one of the causes of stuttering. Look, it’s like you’re going to wander through the forest, of course you will feel more calm if you have prepared the necessary supplies. You will not be too worried if you have prepared maps, GPS, food ingredients, first aid kits, communication devices and perhaps weapons just in case.
In forex trading too. The necessary “equipment” is inserted into a “backpack” called the forex trading plan.
Enter in the trading plan the forex trading system and the risk limiting component. You also have to enter the money management component which is closely related to risk management.
Desire is perfect
The perfectionist nature according to psychologists is precisely the cause of anxiety or stuttering. A perfectionist forex trader is interested in always wanting to be right in every decision he makes. He always wants to be able to predict exactly when prices go up or down. What he wants is the price will always rise as soon as he opens a buy position and immediately drops when he opens short positions. In essence, he wants every transaction made must be profitable. He was afraid of losing.
Don’t expect to be perfect. In fact, nothing is perfect in this world, including forex traders. All you need to do is stay focused and run a trading plan with discipline. Isn’t there a risk limitation in the trading plan that you can tolerate?
One of the things you need to realize is that risk is part of the business, including trading. So, just go back to the trading plan. Live casually. Believe that if the process you run is correct, with God’s permission, the results you will get will also be good.