FX TRADING PSYCHOLOGY
called Traders Gym, which has been designed to reproduce real market conditions. This is the best way to conduct
some structural training.
Most of the traders I trained are still using this software on a regular basis to test their strategies before implementing them on the real market, and to
continue
improving their skills day by day.
This is a much safer approach than jumping into real trading straight away, which most of the
time will
generate pain, financial and psycholo g ic a l damage. The risk is to accumulate psycholo g ic a l damage
provides traders with the exact replica of the real market. You can work either on real-time data, or on past data series. You can decide at which speed to replay past data, and therefore increase the level of difficulty. You can trade several instruments simultaneously, work
which adapts to traders’ level of performance.
Self Esteem Can Be An Obstacle
It’s not only about skills. It’s also about being right, and about your self-esteem. You might know what to do, but you might not actually do it. And this is the main barrier to entry in the “winners” group.
and
end up having neither the will nor the money to continue trading. The more money you lose the more psychological damage you will accumulate. You need a training software which adapts to your level of trading and continues to offer you more challenges as you meet your performance objectives. Like in sport, start with lower objectives, and once you start becoming confident, get to the next level.
Traders Gym is a free software available on Trade Interceptor.
32 FX TRADER MAGAZINE January - March 2019 It
It’s not only about skills. It’s also about being right, and about your self-esteem
with various time frames on multiple charts. So you are exactly like in real market conditions. The software also has been designed to provide the necessary tools to analyze your equity line and your trading performance.
I find that this is the best way to test trading strategies properly and continue to improve trading skills day after day. I haven’t seen any other training software on the market that allows proper structural training
Skills are important not only when you begin approaching the markets. Tey continue to be one of the most important factors as you pursue your trading journey. Tis is true for beginners, intermediate and advanced traders. But except a few “super master
traders”, in this business you need to always condition yourself. It’s never easy and it won’t work if you learn a skill and then forget about it. Reaching the right level takes time. You will have to learn how to improve a new skill until you start getting positive results.
Let’s say you identify that you are good at breakout trading and you decide that this is going to be your trading style (I will explain the various trading styles later). You start placing trades, and at
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