There is something interesting in retail traders. When they start in Forex Market, the majority of their education comes from Brokers!
There is a conflict of interest here - brokers need you trading often and trading big lots. For every full lot you trade in EURUSD, brokers get 18 USD in spreads. Even ECN/STP... Imagine what brokers prefer to teach and how much money they spend in Forums, spec sites and even developing EAs? Many Forex gurus in Market are Brokers' employees or partners.
Imagine 2 traders with 1.000 USD account
Trader 1 - 0.1 lot, Stop loss 100 pips, Take Profit 300 pips - winning ratio 40% - 12 trades monthly
12 x 40% × 300 - 12 x 60% x 100 - 720 USD in profit or 72%. Risk per trade is 100 USD or 10%. Spreads are 12 x 0.1 x 18 = 21.6 USD
Trader 2 - 0.5 lot, Stop loss 30 pips, Take profit 30 pips - winning ratio 53% - 50 trades monthly
50 × 53% x 150 - 50 x 47% x 150 = 450 USD in profit or 45%. Risk per trade is 150 USD or 15%. Spreads are 50 x 0.5 x 18 = 450 USD
Which trader do brokers prefer? High risk, more often trades and lower profit... trader 2.
I will not talk about brokers betting against customers, inducing throw emails, phone calls, whatever... to take positions that they know are losing ones. Why? Because they keep these trades inside their desks, not transfering it to liquidity providers... your balace is their profit.
In Europe, leverages were reduced to avoid this, partnerships contracts through indications and bonuses were banned. What brokers are doing now... yes, getting out from Europe.
Brokers are casinos in Forex and CFDs markets. The best way to control your emotions?
1) understand who really is the broker. It isn't your friend... Don't accept any education from them, specially about money management.
2) educate yourself. Sites that sell 10 different strategies, indicators, robots... just want to take your money too. Forex gurus will try to make you open account in selected brokers, and teach you to earn revenues for them and their brokers.
3) study money management, waves patterns (higher highs, higher lows...), moving averages, support and resistance, trendlines and candlestick patterns. Use higher TF to find trades, and smaller ones to enter them
4) avoid overtrading
5) understand market behaviour and mood
Trade safely... Remember, a high Drawdown means a high risk!