The psychology level in trading is really needed by the traders. It becomes one of the keys success in the
forex industry.
You should remember that panic, worry and negative thoughts will often exist if we start a business. However, these things can produce something positive If you manage them properly.
This is the importance of trading psychology so far. Due to this topic, actually there are some levels that you as a trader needs to know further.
The Definition of Psychology in a Forex Trade
Before talking about the psychology level in trading, it is better to understand it’s definition first. In fact, it is a wide term which is including the whole emotion and feeling that will be faced by the traders.
Some of these emotions can help and must be maintained properly. Those are like the fear, greediness, panicking and anxiety as well.
The point is that it is something which is so complicated and need time to control the whole things. If you are able to handle that, the result will be amazing.
The Kinds of Psychology Level in Trading
Based on the experts, there are several levels which you may note. Here are the explanations of those stages.
1. Optimism and Thrill
It is started with the conducive situation in the market and you feel really optimistic that it will increase as time goes by. Meanwhile, thrill is the increasing account or portfolio account.
At the same time you will not believe the result. It is because the profit is beyond your expectation where in this case the amount is huge.
2. Euphoria and Anxiety
Euphoria can be described as a condition where someone is having a truly positive confident. Besides that, he is also covered by the high optimistic as well.
The bad thing is that it may delete your carefulness and you are not realizing when in a risky situation. Anxiety is then a psychology level in trading after someone had the euphoria.
Anxiety is when you are no longer moved based on the prediction and analysis done before. Usually, mistakes will be done and loss is the result.
3. Denial and Hope
After passing the anxiety stage, denial is the next situation where a trader feels that the price rebounds. However, if you cannot pass the anxiety, denial means doesn’t believe the rebound signal.
Then hope is the next psychology level in trading where it teaches you to awake and stand up from a failure. At this point, someone may Be able to think clearly and carefully.
4. Relief
If someone is in this stage, it means that there is a spirit to get the profit. It can be said that the high optimistic feeling may affect your steps in making a decision in a trade.
It just like everything is started from the beginning again where you may say it as a second chance. That is why; do everything better and more carefully again.
Good Psychology is Always Better
Having a good and right psychology level in trading will help you to make a better strategy. It means that you have more chance to win and get the profit.
It is also good to protect you from several bad feeling such as depression, stress, and many more again. Choosing the best forex broker is helping too.
They always have the great features, facilities, and trusted as well. The example is like Didimax Forex broker which serves you with the quick withdrawal and deposit.
The minimum capital is also low, so that Didimax is perfect for a beginner or even professionals. It also has the direct market access And under the regulation of BAPPEBTI.
Do, don’t worry and join Didimax right now. You may manage the
good psychology level in trading there and meet the best traders as well.