Trading Psychology page 3

Almost all experienced traders of the forex market agree that it is necessary to set stop losses in any style of trading. Beginners, newcomers to the market, often neglect this rule, but with time they also come to understand it (or they simply stop trading because of the constant losses). Let's try to figure out why a Stop Loss is so important for successful trading and sustained profits.

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 and describe them in detail. Non-Systematic Trading The trading strategy assumes work exclusively by the rules. There is a checklist with a set of filters, and any market situation the trader evaluates according to this checklist. Only systematic trading gives a result on a long distance.