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Thread: How much of Forex trading is psychological?

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    Default How much of Forex trading is psychological?

    It appears to me that at least 80% of Forex trading is psychological, because the Forex market itself does not require allot of knowledge in order to succeed. If you know how to read the charts and have basic understanding of the news you can do pretty well. And yet many Forex traders loose BIG TIME from what I see. Does anyone think differently? What do you think is the affect of psychology on forex trading?

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    let me think? err... greed? impatience? Well just like my guru said... trade with your eyes, ears, hand, heart and brain but never ever trade with your emotion.

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    Forex is 90% attitude (emotions) and 10% skill. The ability to know when to stop is more important than knowing what trade to place in my opinion.
    Jafar Calley - Director
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    I thing trade in forex use 40% of emotion, 30% of psychological, 10% of skill, and 20% is experience. I think experience is needed to improve your trading strategies.

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    If you are mechanical, please let me coding you to EA

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    Quote Originally Posted by RebateFX.com View Post
    Forex is 90% attitude (emotions) and 10% skill. The ability to know when to stop is more important than knowing what trade to place in my opinion.
    im totally agree with u rebate... 90% attitude.. 10% skill.. but people nowadays more focus on skill almost90% and leave emotion @ MM at 10%

    that why i always see people with good technical analysis (forum/ friend), but when coming with trade.. they always blew their own account..

    really 90% emotion and 10% skill..

    100 pips a month and sustain is better that 400 pips a month but margin call on the following month toothy9

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    Quote Originally Posted by parm001 View Post
    It appears to me that at least 80% of Forex trading is psychological, because the Forex market itself does not require allot of knowledge in order to succeed. If you know how to read the charts and have basic understanding of the news you can do pretty well. And yet many Forex traders loose BIG TIME from what I see. Does anyone think differently? What do you think is the affect of psychology on forex trading?
    I agree with you

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    Quote Originally Posted by orcein View Post
    I thing trade in forex use 40% of emotion, 30% of psychological, 10% of skill, and 20% is experience. I think experience is needed to improve your trading strategies.
    I agree with you.

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