MOREPIPS TRADERS

  Objectives: If you take this lesson to the end, you will: 1.     Understand the impact of Emotions on trading. 2.     Master the role of discipline. 3.     Know how to develop emotional control.  Trading psychology : This Refers to the mental and emotional factors that influence a trader's decision-making process during trading. It involves the attitudes, emotions, and behaviors that can impact a trader's ability to make rational decisions, stick to a trading plan, and manage risk effectively. In essence, trading psychology is about the mindset required to navigate the ups and downs of the markets, especially when faced with uncertainty, losses, and the pressures of real-time decision-making. A trader's emotions such as fear, greed, and impatience can sometimes lead to poor judgment or irrational actions, potentially causing substantial financial losses. The Impact of Emotions on Trading Emotions are a natural part of trading. However, if not ma...

  Objectives: If you take this lesson to the end, you will know: 1.     How to determine your Risk. 2.     How to determine your TP and SL levels. 3.     How to carry out Back-Testing. 4.     How to determine the success rate of indicators. Money management Money management refers to the set of principles and rules followed in order to protect your trading capital. It helps in the process of deciding your risk per trade. Implementing these rules protects your account from large losses.   Risk   Risk is the percentage of your account you can lose comfortably, if you must lose a trade. Advisably, only 2% of your account should be your risk. That is, only 2% of your account on all trades. If you decide to take only one trade, the 2% should go on it. However, for two positions, go 1% on each position, and for four positions, go 0.5% on each position. EXAMPLE For a $500 account, Risk = 2% of 500        ...