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Trading and alcohol – Forex for beginners from scratch

Warm spring greetings to everyone! Today we’ll talk about how compatible trading and alcohol. I do not think that this question is so acute for the average trader, but it is still worth talking about it. This conversation was prompted by a post on one of the forex forums. The man shared the joy of a successful deal. Indeed, judging by the posted screenshot, the deal made a good profit. And all would be fine, but in the comments, the trader said that if it were not for the alcohol consumed, then he would never have received such a profit. Discussing this post, forum users fell into two categories. Some were ardent opponents of alcohol. Opponents talked about the benefits of alcoholic beverages. At the same time, alcohol was compared with antidepressants. So who is right – the opponents of booze or those who can afford it while trading?

Traders’ fears

Many speculators experience different fears while trading. These fears have different origins and different causes. But their action does not improve the performance in any way. Many traders are afraid of taking a loss. As soon as the slightest hint of a corrective pullback appears, they close the trade. A small profit is better than a small loss. Most novice traders and those who already have little experience think so. Some speculators are in a hurry to move the deal to breakeven. And this, again, because of the fear of getting a loss. And what happens in the end? As a result – lost profit and ineffective trading.

Will alcohol help you get rid of your fears?

This was stated by one participant in the above discussion. But is it? And how safe is drinking alcohol to get rid of fear in the trade? Indeed, alcohol has a calming and relaxing effect on the nervous system. But this slows down the reaction and the main thought processes. Plus, emotional sensations intensify. Sober calculated logic always wins in trading. All actions of traders should be devoid of an emotional component. When alcohol is consumed during the trading process, spontaneous, ill-considered decisions arise. Sudden courage in action can be replaced by bitter disappointment in their results. And the lack of fear made few people a millionaire. This requires a sober head and correct calculation, plus competent money management.

Emancipation = profit?

If someone thinks so, then he is deeply mistaken. Returning to the beginning of the conversation, I want to note two points. Indeed, the deal was good. The profit from one trade was almost 200 points in four-digit terms. Those who are very worried and afraid would close the order several times. The price rolled back several times. But I think that this deal is most likely an accident. And given that it was done in combination with alcohol, it was a fluke. There can be no question of any stable results. If someone claims that alcohol helps liberation and creativity, this is his subjective opinion. Trading is not painting, poetry or music for creativity to be appreciated. Trading is a world of numbers, statistics and patterns that can give you a chance to earn money. So whether or not to drink alcohol while trading is a matter for everyone to decide for themselves.

Best regards, Vitaly Pryadko.

April 7, 2021

Moris Akline
About author

Speculative operations in the foreign exchange and stock market. Work with futures and indices on CME. Work on FORTS and RTS. Development of portfolios and investment strategies for clients. Knowledge of technical (price charts of various types, indicators and oscillators, trends, channels, support / resistance levels) and fundamental analysis, take note of news. I work according to my trading strategy in compliance with the rules of capital management and risk management. Development of trust management strategies. Technique of order execution, placing and changing protective stop-losses, hedging.
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