moonchild
VIP Contributor
Over trading is very common among forex traders, most traders tend to over trade when their trades is not going accordingly so they tend to over trade there by losing everything they've made as a result.
To stop over trading you have to always set a stop loss so that you will know before hand the amount you are willing to lose in that trade this will not make you panic when the trade did not go in your direction because you have already calculate your losses, and you can even place your trade and just go your way without worrying about what could go wrong.
Using stop loss in a trade will give a trader peace of mind and will also make him accept his wins and losses as he already prepared for them before they even happen.
Secondly, you should have a daily target, this could be in pips or in dollars, whichever you chose just make sure you have a target that you're aiming at, this will make you disciplined and will also makes you stick to your plan whatever happens.
If you have a trading plan, make sure you followed it judiciously and don't violate it
To stop over trading you have to always set a stop loss so that you will know before hand the amount you are willing to lose in that trade this will not make you panic when the trade did not go in your direction because you have already calculate your losses, and you can even place your trade and just go your way without worrying about what could go wrong.
Using stop loss in a trade will give a trader peace of mind and will also make him accept his wins and losses as he already prepared for them before they even happen.
Secondly, you should have a daily target, this could be in pips or in dollars, whichever you chose just make sure you have a target that you're aiming at, this will make you disciplined and will also makes you stick to your plan whatever happens.
If you have a trading plan, make sure you followed it judiciously and don't violate it