The Only tool You need to improve Your Trading Psychology
Our psychological indicator makes it easy to stay in a trade and capture larger rewards and profits from the market.
What is the main reason behind failure of a Trader?
At the beginning of their trading career, every trader spends a lot of time and effort learning technical analysis. But even then, most traders fail, and that’s no secret. After going through a lot of surveys and based on the vast trading experience of the ForexBee Team, we have pinned down the primary reason beginner traders are failing.
And That Reason is Trading Psychology
Most traders don’t learn trading psychology, but it is the most critical and final step for a successful trader. They think they will eventually be able to control their emotions. But when things start to go south and trades go against them, they mess up their trading setup leading to even more losses. Below are the statistics that we have compiled from our research.
Behind the success of every profitable trader, there is:
10% Technical knowledge
40% Risk management
50% Trading psychology
And one thing that is evident from the above figures is
Without mastering trading psychology, you’ll never become a successful trader because 50% of your trading depends on it. So it cannot be ignored.
You can master risk management by following mathematical rules and technical knowledge from the resources on the internet. So let’s address the elephant in the room.
How much time do you need to master trading psychology?
And more importantly, how will you learn trading psychology?
Well, Dear! the numbers are disheartening. Because psychology is the most challenging part, the market operates due to Fear and Greed. You can learn trading psychology only by experience. And You need years of experience to master it.
So what’s the solution? Obviously, you don’t want to spend years learning the psychology of trading without any earnings. This is impractical!
So keeping this in mind, ForexBee team has brought a solution to overcome the trading psychology with a Simple yet very Powerful indicator based on the Average True Range and Renko Chart. Our team analyzed this psychological issue of traders that makes most traders leave this market. Now we’ve made a simple solution, and simplicity is the key to tackling trading psychology instead of spending years learning it with experience.
The name of this indicator is “The Psychological indicator”.
Let’s see how the indicator works
Working of Psychological indicator
Applying the indicator to charts will plot areas of two colors in a separate window. You just have to pay attention to when the indicator changes its color.
An important thing you need to understand is The psychological indicator is not a buy/sell indicator. It means you’ll not use it for opening a buy/sell trade. You’ll use it for Take Profit levels only.
Obviously, one cannot become a profitable trader by following a single indicator. The method behind this is, you’ll have to open a buy/sell trade with stop loss using your trading strategy and then hold/close the trade using this psychological indicator. So it’s a trading tool, an indicator which will tell you where you should exit the market and take your profits.
Still not clear about this indicator? Well continue reading…
Let’s consider an example. Ali uses the supply and demand indicator in trading to identify the sweet spots on the price chart. He found a supply zone in USDJPY and placed the sell order with stop loss according to strategy.
Now a sell trade is running, and each time price gives a slight reversal, Ali finds himself uncontrollable after watching the floating profit decrease on minor reversals. After two to three market fakeouts/reversals, he closes the sell trade with very little profit due to Psychological domination. This also disturbs risk management; in the end, his account growth curve starts going negatively.
Ali finds the psychological indicator on ForexBee. Now When he opens a sell order after the formation of the supply zone, he uses the psychological indicator to make decisions. The decision means deciding either hold the trade or close the trade.
The psychological indicator is straightforward. It draws only red or green colour areas in the window below charts chart.
As the sell trade is running in Ali’s account, he now’s waiting for the colour of the psychological indicator to change from red to green. He is not worried about trend reversals because he knows when to close the trade. Trade is running until the price completes the bearish trend. When a significant trend reversal happens, the colour of the psychological indicator will change from red to green and at the same time, Ali will close the sell trade.
Now he’s enjoying the full profit like the top 1% traders do.
Holding a trade longer is a major psychological issue that has been solved by this simple psychological indicator. I know many strategies tell us about take profit levels but in the real market you will not be able to make correct decision that’s why you need a simplistic solution.
I hope you understand the function of this simple yet effective indicator.
ForexBee team is working on making this indicator helpful to retail traders. We wanted to give this for free, but due to programming resources, updates, subscription costs and other miscellaneous expenses, we decided to give it for a small amount of $10.
Your Price Today $10
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Trading is all about finding high-probability trades. Risk management and Trading psychology are powerful strategies that the top 1% of traders use. By using this psychological indicator, you’ll overcome the trading psychology issues allowing you to win high-risk reward trades.
Our trading system will allow you to get high winning probability trades on the price chart.
We can guarantee that.
Frequently asked questions
Most frequent questions and answers
Psychological indicator works on all markets including stocks, indices, forex and commodities. It works on a candlestick chart of any financial asset.
After purchasing the indicator, you will get access to psychological indicator with an introduction video.
It works on the free plan of Tradingview, you don’t need to upgrade.
If you don’t know your tradingview username then click here.
Not at all. This indicator is created for those traders who are not only serious about their careers but also want to succeed.
YES! You are protected by our iron-clad 60-day money-back guarantee. If you decide to get a refund, let us know and we’ll deactivate your account. If you have a technical issue, again, let us know and we will be super happy to help and fix it ASAP!