MC is sometimes experienced by beginner traders not because they do not understand the basic trading, but most of the mindset or psychology is not good.
If you bravely say that you don't use the mindset or not ... this is dangerous! Understand this that forex trading is something simple, but it is not as easy as we imagine to be conquered so serious effort is needed.
Mindset (correct trading mindset for beginners) or trading psychology. Many professional traders say that if you want to succeed in forex trading, it is important to have the right mindset.
To establish a correct trading mindset for beginners, from the start, you must first understand the basic trading that exists. Not saying you have to memorize the theory, but understanding the basics of trading and trading instruments at the beginning will be very helpful for you in starting it, therefore it is also important for beginner traders to pay attention to the mental attitude as follows:
Trading technique training using a demo account until you are really sure of your technique. Why with a demo account? Because if you directly trade with a real account without mastering the right technique and then experience loss or mc, then your psychology can be destroyed because of the fierce market.
The key to successful forex trading is emotional control. So, learn to control emotions in addressing market behavior, to determine the right moment when entering the market
Not greedy in determining the target plan or profit in the market.
Trading is not about how many pips you can get in one entry. Because tomorrow you can just lose it. But how much profit can you get in the entire transaction interval.
DISCIPLINE with SOP rules that have been made. SOPs cover all the supporting factors of trading techniques. Trade plan, Rules entry and exit, MM, Risk and reward.
Since the beginning of knowing forex, traders must indeed have the right mindset. All of that starts from the intention and mindset of the trader, if from the beginning it is correct then it will get good results too. The trader must be able to treat this forex trading like a business that he does. By doing a business, of course requires good and detailed preparation and planning, studying it with focus and seriousness. Of course a trader who has a business mindset will prioritize the security of capital and business, think of ways to survive and be able to generate profits for a long time.
