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The Key to Success in Forex: PSYCHOLOGY

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Everyone who enters the world of investment is to make money. This is a common stake for all investors. To be a successful investor, many factors must be gathered in person and these factors should be invested in the right way. Interpretation of technical and fundamental analysis, market follow-up, interpretation of price charts of instruments, investigation of the effects of agenda events on the market, financial information and many properties investors should use in trading transactions.

The above items can, of course, be increased, but we will consider the psychology factor which is often ignored even if this article is known by most investors.

What is the Importance of Psychology in Investment?

In Forex market, all investors want to be able to trade regularly and make stable money in the long run. However, with the beginning of the investment, many investors give up their wishes. Few are; They may continue to pursue stable trading before they begin investment transactions. It is the majority of investors who have already succeeded. Here(bury a link Ek lene Ek) we have explained the benefits of the investment plan in order to make the reasons for the failure of the investors and successful transactions. In this context, we have already explained that psychology is a tremendous influence on the investor especially when buying and selling and that the only way to remove this effect is to make investment plans and stick to the plan they are doing.

In particular, momentary price changes on the forex market make tremendous differences when combined with the leverage ratio. These differences are seen by investors as high-profit gates at the moment and cause them to remain faithful to the investment plan they have already decided on. That’s why psychology is a big issue in investment transactions and new investors need to deal with me first.

Be able to dominate emotions

There is no room for emotion in the investment market. It is equivalent to the experience that this person will earn in the market over time. To leave your feelings and momentary thoughts to be a good trader; You have been working on it for a long time, you have to be faithful to the investment plan defined by the purchase and sale points rules.

Forex trading has a more dynamic and momentary structure than the stock market. On the Borsada side, this is more likely to depend on the extent to which macroeconomic data will be made in the country. I mean, it’s a shame; Your forex market transactions should have a much stronger psychology. Because sudden price changes on commodities, parity, and instruments will always change your investment strategy. In my opinion, this is the biggest mistake investors make on forex, and that’s the only reason psychology.

For this reason, investors should not act only in accordance with the market data and news, in the case of a sudden situation, the psychology should not be affected and it should be faithful to the plan which it made initially. The first rule of being a successful investor; To be a person who is firm and does not move with his feelings.

A Few Tips to Become a Successful Investor

  • Build Your Investment Plan and Stay Loyal to the Plan: Before you start processing, you will have to make decisions and rules of conduct before you start papering under a certain template, build your investment plan and be loyal to this plan in the process.
  • Do not Embed in Graphics: Technical analysis is very important for anyone who will invest in stock market, forex and binary option markets. But sometimes these analyses are so faithful; All factors that are effective in investment are forgotten. For this reason, the analysis is important in the investment process, but the results should not be fully believed in the results.
  • Be Honest Against You: This is a topic that everyone who studies about human psychology has accepted. One must be self-righteous in every aspect of life. He must develop himself in this direction. Do not be fooled by external voices, instant messages, and news on the investment market. Being honest with yourself is very important. If you plan to sell your plan, but you believe that you will continue to invest and listen to the voice from you; It means you are not being honest with yourself.
  • Make Traditionally Habitual: Stock market investors seek out where they think success is more profitable, rather than complying with general trends. The same is done by novice traders when trading on forex. For this reason, you should stop swimming against the current and constantly make a habit of trading in general trends. You have to be far away from the desire to make money fast and fast, and you have to think of winning as a key to success. Increasing your profits by frequent trading is one of the most accurate ways a trader can choose.
  • Transaction Volume and Capital Management: We see that people who do not have access to a particular experience in this area use a large portion of their capital in their investment transactions. When trading in a certain direction, you should not trade more than 10% of your capital. In addition, you should make the habit of trading with a maximum of 5% of your main money.
  • Getting a Processing Start Decision: This was the first item to be written, but we wanted to quote. That’s why I want to pay attention to investors. Our experience suggests that a large proportion of investors are trading on a single signal. If no analysis, news, data, sensation contain a supporting signal; It can not be considered real. For this reason, you should take a decision to start the process in line with the analysis value, the agenda, and trends. After receiving signals supported by at least 2 or 3 points; You should start your investment and then be resolute in your investment plan.

Result – Warning!

Stock exchange transactions; It is a little slower than the forex market. This is directly due to the differences in the markets. In global markets such as binary options and forex, The processes are much faster and the results are sharper. For this reason investors, especially forex traders, should never forget the psychology factor and should stick to the above keys of success. It should not be forgotten that this situation, which seems to be a little more recoverable in the stock market, may lead to serious losses on the forex market.

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