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Beginners - Kill your emotions
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mlawson71

Členem od Dec 11, 2015  1487 zpráv(a,y) mlawson71 Jul 19 2016 at 08:49
xgavinc posted:
mlawson71 posted:
Hero76 posted:

That's a very good point, actually. Some people make a big profit a few times on demo account and think they're ready for a live account without having achieved being consistent in their profits, and that only leads to losses.

yes you’re right but that's how hunger for money and greed works. a lot of people choosing forex do not think about a lot of work such as study, experiment, creation of your own strategy, study your own financial instinct or nerves and so much more, they mostly guided by a sense of fast money and implications that go beyond this. But they do not think about time-requiring education


Very well-said. Forex trading is a job - a highly complex and intellectual job, and as any such job it requires a lot of time and effort invested in education.


You also need a passion for it. If you're in it just for the money you are in it for the wrong reason, money should be secondary to understanding the markets.


I agree. If you don't have a passion for trading you'll get bored, or feel stiffled. One should keep in mind, however, that many people start doing this for the money and then develop the passionfor it later, when they learn a bit.

Hero76

Členem od Jul 13, 2016  39 zpráv(a,y) Hero76 Jul 20 2016 at 06:23
I think real passion can come with the first serious profit the same as opposite all the passion can be washed away by the first big fail. It is the question of the reasons why you decided to make this kind of business that requires so much nerves and unstability

sparkerse@
togr

Členem od Feb 22, 2011  4822 zpráv(a,y) vontogr (togr) Jul 20 2016 at 08:26
prakash104 posted:
Only 5% traders are making money in any financial markets(stocks,commodities and forex).If you are new to online trading my first advice is not to believe any websites that claim for 100% accuracy in trading.It's absolutely impossible.

My question is can we predict our future?The answer may be we can guess.That's it, we cannot tell exactly what our future will be tomorrow.Same concept is applicable to trading.Nobody cannot predict exactly about what will happen next in the markets.

So forex trading business is all about probability and not exact or accurate.


Best way to kill emotions and execute trading plan precisely is to use EAs.

mlawson71

Členem od Dec 11, 2015  1487 zpráv(a,y) mlawson71 Jul 23 2016 at 09:03
I don't know about that, using EAs makes me even more nervous than trading by myself because I feel I have even less control.

coding101

Členem od Aug 01, 2016  10 zpráv(a,y) HolyGrail (coding101) Aug 02 2016 at 06:49
The only way your are going to learn how to keep emotions in check is by trading a live account. Demos don't prepare you for that.

Losing is the only way to learn.
mlawson71

Členem od Dec 11, 2015  1487 zpráv(a,y) mlawson71 Aug 02 2016 at 08:33
coding101 posted:
The only way your are going to learn how to keep emotions in check is by trading a live account. Demos don't prepare you for that.


That is also true, unfortunately. The demo account is good for many things, including training you to see good signals on the market, but you can only learn to control your emotions on a live one.

Hero76

Členem od Jul 13, 2016  39 zpráv(a,y) Hero76 Aug 02 2016 at 19:44
In my opinion every newbie must use demo trading for at least 3 to 6 months. But at the same time you must always remember that demo is totally different from real trading because of the lack of pressure. Trading in real account there'll be a lot of emotions and that's the trick. So use demo to test only the accuracy of your method.

sparkerse@
mlawson71

Členem od Dec 11, 2015  1487 zpráv(a,y) mlawson71 Aug 03 2016 at 09:05
Hero76 posted:
In my opinion every newbie must use demo trading for at least 3 to 6 months. But at the same time you must always remember that demo is totally different from real trading because of the lack of pressure. Trading in real account there'll be a lot of emotions and that's the trick. So use demo to test only the accuracy of your method.


I absolutely agree with that. I don't think demo account trading should be skipped - it's necessary to learn the software itself, then to learn the market, so to speak, what happens under different trading conditions. And it's great to practise one's strategy and ideas. It's only all that is done it's good to move onto a live account.

herodontcry

Členem od Jun 12, 2016  16 zpráv(a,y) herodontcry Aug 03 2016 at 11:09
killing emotion?? impossible to do that as long as we breath lol

nothing is impossible
xgavinc

Členem od May 11, 2011  235 zpráv(a,y) xgavinc Aug 04 2016 at 07:25
herodontcry posted:
killing emotion?? impossible to do that as long as we breath lol


Been trading for about 6 years, first 3 lost thousands and now making it all back slowly. My emotions are pretty much dead at this point regarding trading lol

For every loss there should be at least an equal and opposite profit.
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