I keep seeing all these screenshots of people making crazy profits on the Forex market, and it's seriously messing with my head. I end up jumping into trades without enough planning, and of course, I lose. Need some advice on how to stay disciplined and stick to my trading plan.
5 comments
Hey @followthemoney, I totally get that. It’s easy to get caught up in the hype. One thing that’s helped me is setting strict rules for myself. Like, I won’t enter a trade unless it meets all my criteria. It’s tough, but it works.
@shakewell is right. Setting rules is key. Another thing that’s helped me is to stop looking at those screenshots altogether. They create unrealistic expectations. Focus on your own journey and progress.
Thanks guys. I know I should focus more on my plan, but it’s hard to ignore those big wins others are posting. @shakewell, what kind of criteria do you set for yourself?
For me, it's all about the setup. I need to see confirmation from multiple indicators before I enter a trade. I also set clear entry and exit points, and I always use stop-loss orders. That way, I know exactly what I'm risking. It also helps take the emotion out of trading.
Same here. And I keep a trading journal. It helps me stay accountable and learn from my mistakes. Whenever I deviate from my plan, I make a note of it and review it later. It’s a great way to spot patterns in your behaviour.