A lot of people are explaining that new traders should ' kill their emotions', but we always have to consider the fact that, we are not robots! We can't just simply switch off our emotions. But we can train our selves to resist the temptation of using them in trading and the best way to do that from my experience is with demo trading accounts. Manage to double at least 2 or 3 demo accounts, and you are ready to begin learning trading with real money.
@martinkolbe We are not robots, even worse - we are forex traders :-D In fact, it is impossible for a mentally healthy man to switch off emotions. So the best way out is to handle them and make them work for trading properly.
Pumentio posted: @martinkolbe We are not robots, even worse - we are forex traders :-D In fact, it is impossible for a mentally healthy man to switch off emotions. So the best way out is to handle them and make them work for trading properly.
Surely it is impossible to 'kill' or 'turn off' emotions, the difficulty is that exactly these emotions should be perceived while trading differently in comparison to every day life, therefore we need to suffer losses to learn how to handle ourselves.
Emotions are an integral part of who we are as human beings, turning them off completely is not possible, nor is it healthy to try and do so. One can and should, however, learn how to manage them and keep them under control when trading.
Controlling emotions or killing emotions means that you must not commit emotional trading mistakes.I know that human beings cannot fully control their mind.But in trading controlling our emotions is very vital so that we can win in forex trading. One single mistake can destroy an entire trading account that is build over the years. So we should be a master of mind control.Otherwise we can't win.
Maybe some healthy practices like meditation can actually help us. The point is not to turn off emotions but to learn how to recover mentally from unexpected situations and the stress involved. I think this comes with experience.
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