Trader characters that should be avoided in forex trading – A good forex trader is mastering both technical and fundamental trading strategies. In addition, trading psychology also determines success in trading. Having a good strategy is not necessarily successful if you don’t have a good trading psychology and vice versa.
Psychology of trading is the most difficult thing for a trader to conquer, if technical and fundamental science can be learned with logic and knowledge, in contrast to psychological trading will be obtained from experience and high flying hours. Psychology can be said to be more dominant than technical or fundamental science.
Trading psychological problems are faced by almost all traders, especially those who are beginners. here is the trader’s characters that should be avoided in forex trading.
As a human being, greed is innate in humans themselves which are difficult to control. People who have this greedy character are not suitable to be in the forex trading business.
#Character of Revenge
Another character that traders must avoid is revenge. This condition usually occurs in traders who experience losses. The character of revenge can destroy the trading plan and money management that has been made. This character of ” Revenge ” will not be suitable in the forex trading business.
Those who are experienced sometimes still have this bad character. However, the perenstasy rate is probably less than those who are beginners. So, as a good trader, you should avoid these characteristics to keep your trading business on the right track using good money management.