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Emotion in Forex trading
Členem od Sep 12, 2015
1933 příspěvků
Dec 14, 2018 at 23:13
Emotions are always in the market ,your living in the dark ages if you think otherwise ,Algos are reading sentiment on twitter,facebook yahoo finance etc etc etc ....remember the algo that canceled orders on fake news about the white house blowing up ,use fear and greed to your advantage.
"They mistook leverage with genius".
Členem od Apr 18, 2017
659 příspěvků
Dec 16, 2018 at 11:16
snapdragon1970 posted:
Emotions are always in the market ,your living in the dark ages if you think otherwise ,Algos are reading sentiment on twitter,facebook yahoo finance etc etc etc ....remember the algo that canceled orders on fake news about the white house blowing up ,use fear and greed to your advantage.
Depending on others prediction is not a good choice! This is why, I avoid social medias to collect Forex news! Since, it makes me confused.
Členem od Sep 12, 2015
1933 příspěvků
Dec 16, 2018 at 14:29
AmDiab posted:snapdragon1970 posted:
Emotions are always in the market ,your living in the dark ages if you think otherwise ,Algos are reading sentiment on twitter,facebook yahoo finance etc etc etc ....remember the algo that canceled orders on fake news about the white house blowing up ,use fear and greed to your advantage.
Depending on others prediction is not a good choice! This is why, I avoid social medias to collect Forex news! Since, it makes me confused.
If everyone and there dog is shorting Eur/Usd what are you gonna do follow the heard ,that's why its good to read the forums ,yes its confusing but helps to gauge bias of retail.
"They mistook leverage with genius".
Členem od Aug 27, 2017
875 příspěvků
Dec 17, 2018 at 07:45
Spending time on Forex forums is not a bad practice! But, we should be careful about the spammers.
keeping patience.......
Členem od Nov 22, 2018
9 příspěvků
Dec 18, 2018 at 07:07
There are a lot of people trying to claim that they have great results and lure people into their "fund" etc. if anyone asks for a direct message or email then just stay away
Členem od Jan 14, 2017
35 příspěvků
Dec 21, 2018 at 11:33
nasrul_poyo posted:
Once TP, sure you are happy. When current trade in blue color, still can smile but if it turns red, most of us trying to look at chart and think why its not perfect entry and looking new improvement 😂
When the position go red, the only chance to keep calm is stand a SL and stand away from PC and charts.
Členem od Apr 18, 2017
700 příspěvků
Dec 23, 2018 at 14:55
FuYating posted:
There are a lot of people trying to claim that they have great results and lure people into their "fund" etc. if anyone asks for a direct message or email then just stay away
That’s the best practice; even I got so many massages from different forum members! Even they are claiming about 100% profit ratio; lol.
Členem od Mar 02, 2017
46 příspěvků
Dec 24, 2018 at 07:18
Let's make 2 questions:
Question one
A) you have 100% of chance to lose 30 USD
B) you have 80% of chance to lose 40 USD, and 10% of chance to lose nothing
92% of answers say option B.
Question two
A) 100 percent chance of receiving $30 USD
B) 90 percent chance of receiving $40 USD, and a 10 percent
chance of receiving nothing.
80% of answers say option A.
These question were part of a study carried by Daniel Kahneman and Amos Tversky, about market behavior, in 1979.
Successful traders answers: A and B.
Why? Because they play with probabilities. In the long term, for example:
Question one
A) loose 30 USD.
B) loose 90% x 40 USD = 36 USD.
Question two
A) Win 30 USD.
B) Win 90% x 40 USD = 36 USD.
These answers show how real traders think! They accept their losses earlier, respecting their stop losses, and maximize their profit, keeping their TP.
Question one
A) you have 100% of chance to lose 30 USD
B) you have 80% of chance to lose 40 USD, and 10% of chance to lose nothing
92% of answers say option B.
Question two
A) 100 percent chance of receiving $30 USD
B) 90 percent chance of receiving $40 USD, and a 10 percent
chance of receiving nothing.
80% of answers say option A.
These question were part of a study carried by Daniel Kahneman and Amos Tversky, about market behavior, in 1979.
Successful traders answers: A and B.
Why? Because they play with probabilities. In the long term, for example:
Question one
A) loose 30 USD.
B) loose 90% x 40 USD = 36 USD.
Question two
A) Win 30 USD.
B) Win 90% x 40 USD = 36 USD.
These answers show how real traders think! They accept their losses earlier, respecting their stop losses, and maximize their profit, keeping their TP.
Trade safely... Remember, a high Drawdown means a high risk!
Členem od Jan 14, 2017
35 příspěvků
Dec 24, 2018 at 09:58
Arcferreira posted:
Let's make 2 questions:
Question one
A) you have 100% of chance to lose 30 USD
B) you have 80% of chance to lose 40 USD, and 10% of chance to lose nothing
92% of answers say option B.
Question two
A) 100 percent chance of receiving $30 USD
B) 90 percent chance of receiving $40 USD, and a 10 percent
chance of receiving nothing.
80% of answers say option A.
These question were part of a study carried by Daniel Kahneman and Amos Tversky, about market behavior, in 1979.
Successful traders answers: A and B.
Why? Because they play with probabilities. In the long term, for example:
Question one
A) loose 30 USD.
B) loose 90% x 40 USD = 36 USD.
Question two
A) Win 30 USD.
B) Win 90% x 40 USD = 36 USD.
These answers show how real traders think! They accept their losses earlier, respecting their stop losses, and maximize their profit, keeping their TP.
Brilliant. One of the best answer I read here. The psychology of traders who is able to earn is completely different from common traders. That is why 95% of traders cannot to trade profitable.
Členem od Aug 27, 2017
875 příspěvků
Dec 24, 2018 at 13:19
Hello Allan; I also liked your comparison; well done! Thanks for your detail answer! Actually, that’s the real scenario & this is why, Forex is called smartest way of money earning.
keeping patience.......
Členem od Dec 24, 2018
38 příspěvků
Dec 25, 2018 at 07:34
There must be no emotion for one to succeed in Fx, make a decision when required.
Move along with the Market
Členem od Apr 18, 2017
700 příspěvků
Dec 25, 2018 at 13:26
Trader4hire posted:
There must be no emotion for one to succeed in Fx, make a decision when required.
Of course, it is! But, it takes such a long time to learn & make a professional mind set! I see, almost all of pro traders focus on their trading process instead of result.
Členem od Dec 24, 2018
38 příspěvků
Dec 25, 2018 at 14:30
AniLorak posted:Trader4hire posted:
There must be no emotion for one to succeed in Fx, make a decision when required.
Of course, it is! But, it takes such a long time to learn & make a professional mind set! I see, almost all of pro traders focus on their trading process instead of result.
In my place of trading with the banks, no selected traders have emotions, funny enough, i was picked up from here around 2007, emotion its one thing you must put in the bin if you want to succeed, especially when you are working under big organizations
Move along with the Market
Členem od Jan 03, 2018
150 příspěvků
Dec 25, 2018 at 14:36
a good way to clear emotions is to have a low risk money management
nick123427@
Členem od Apr 18, 2017
700 příspěvků
Dec 26, 2018 at 08:54
nick3232 posted:
a good way to clear emotions is to have a low risk money management
Of course, it is; low risk reward ratio is very much important! Because there is guarantee; during your tough time low-risk reward ratio will help you a lot for sure.
Členem od Dec 24, 2018
38 příspěvků
Dec 26, 2018 at 08:55
nick3232 posted:
a good way to clear emotions is to have a low risk money management
You can still have that and still full of emotions, Best way is exit when its time to exit and be stingy with your profits
Move along with the Market
Členem od Nov 28, 2016
11 příspěvků
Dec 26, 2018 at 09:24
just trade with funds you can afford to lose.
I have not much experience, which is less than 2 years, I don't touch other people monies and I trade with money which I can afford to lose.
I have not much experience, which is less than 2 years, I don't touch other people monies and I trade with money which I can afford to lose.
Členem od Jan 17, 2017
7 příspěvků
Dec 26, 2018 at 09:32
Good discussion.......
Try not to risk more than 3% on single trade
Try not to risk more than 3% on single trade
rosdie77@
Členem od Apr 18, 2017
700 příspěvků
Dec 26, 2018 at 09:54
RosdiXM posted:
Good discussion.......
Try not to risk more than 3% on single trade
Even, I think sometimes 3% is aggressive; such as if you face consistent 3 SLs; that means almost 10% of your trading account.
Členem od Jan 14, 2017
35 příspěvků
Dec 26, 2018 at 09:58
I would say no more than 2-5% depending on the market activity.
