Don’t Let Your Emotions Dictate Your Forex Trading

Mar 02, 2021 at 15:39
2,802 Angesehen
55 Replies
Mitglied seit Jul 23, 2020   759 Posts
May 11, 2021 at 00:14
Learn to control emotion in trading. Also, know about trading psychology.
Mitglied seit Nov 03, 2020   65 Posts
May 11, 2021 at 08:34
As soon as you allow emotions to control and master you, then your trade will become unprofitable.
Mitglied seit Feb 16, 2021   29 Posts
Jun 16, 2021 at 08:41
As soon as your emotions get the best of you, you immediately start losing.
Mitglied seit Jun 15, 2021   9 Posts
Jun 17, 2021 at 11:50
I believe emotions to be a poison that will destroy one's trading, it is always beneficial if a trader has a control on emotions and is not letting them to overpower his skills, because this is what makes trading profitable.
Mitglied seit Jun 30, 2020   90 Posts
Jun 27, 2021 at 10:53
It is very important to manage both positive and negative emotions, because both can negatively affect trading.
Mitglied seit Jul 23, 2020   869 Posts
Jul 05, 2021 at 12:35
Many indeed fail in trading because of their emotion which they struggle to control in trading.

Mitglied seit Mar 17, 2021   536 Posts
Dec 06, 2021 at 19:08
LyudmilLukanov posted:
Many indeed fail in trading because of their emotion which they struggle to control in trading.

Yes. every trader should control their emotions while trading.
Mitglied seit Jul 19, 2020   788 Posts
Dec 07, 2021 at 07:46
LyudmilLukanov posted:
Many indeed fail in trading because of their emotion which they struggle to control in trading.

Many important achievements of Emotion Trader. Profits can be made with any strategy if the strategy is managed properly.
Mitglied seit Jul 19, 2020   751 Posts
Dec 31, 2021 at 03:35
SteveHanks posted:
LyudmilLukanov posted:
Many indeed fail in trading because of their emotion which they struggle to control in trading.

Yes. every trader should control their emotions while trading.
If you trade according to your trading plan; then you’ll be able to overcome your personal dots; otherwise no way.
Mitglied seit Jul 19, 2020   788 Posts
Jan 02, 2022 at 00:46
GraceGilm posted:
emotions are such a thing that can turn your work in a good direction, so you don't need to speak so categorically
Emotional trading can turn a profitable trading strategy into a loss trade. Therefore, every trader has to trade by controlling the psychology.
Mitglied seit Nov 02, 2021   73 Posts
Jan 11, 2022 at 04:14
As humans, we can’t control our emotions completely. But when you have seen the market closely and know how calculative you have to be with your trading moves, you get better at managing them. Avoid revenge trading by taking a break after every loss you make.

Mitglied seit Apr 18, 2019   25 Posts
Jan 11, 2022 at 18:58
That's really true. The vast majoity of traders let their emotions to take them over control, while it's prohibited when we speak about trading activity. When I say 'prohibited' it means that traders must be conscious and rely only on their logical conclusions and thoughts. Of course, on the very first stages it's very difficult to turn off the emotions, however nobody restrcits you in expressing your emotions. The task is never let them take you over control, because when you make moves under the influence of your emotions you can easily ruin your deposit and the whole trading activity, because emotions don't appeal to your conscious. So, be ready for suppressing your emotions and find an activity which will let you to express them.
Mitglied seit Nov 03, 2021   53 Posts
Jan 19, 2022 at 06:35
Emotions and trading don’t mix well. To avoid being emotional, one should diversify his/her investments, stop trading after 3 consecutive profits or losses and stop looking at profits or losses while trading. Stay focussed and follow the plan.
Mitglied seit Aug 17, 2021   94 Posts
Jan 19, 2022 at 10:13
This is crucial since it can effect your trading, therefore keeping your emotions under control will help you avoid making costly mistakes in your trading.
Mitglied seit May 21, 2020   18 Posts
Jan 21, 2022 at 18:30
That's true actually and unfortunately that is the most spread issues of all traders. They let the emotions to dictate the rules. I know that it's kinda difficult to suppress the emotions especially when we're in a bad mood. However, forex trading doesn't like those ones who can't control their emotions. There are some traders who don't care about emotiosn at all, they just do their best in order to become successful, nevertheless there is a very little amount of such traders and the vast majority of traders got used to operate due to emotions. It's okay because we are human beings, but forex trading doesn't imply any interference of emotions.
Mitglied seit Aug 30, 2020   15 Posts
Feb 05, 2022 at 12:11
I think that emotions are our number one enemy in trading. They can spoil everything. It’s evident even on a demo account. I initially intended to start trading real money but at the last moment something stopped and get back to my demo account. I still trade on a demo account but I try to make as realistic as possible. I set my mindset accordingly, try to buy or sell from certain levels only and never open trades randomly. I also try to adhere to the major principles of money management. I try to pretend that it’s all real and see that everything is based on emotions or to be exact the ability to control them and attention.
Mitglied seit Oct 29, 2021   70 Posts
Feb 16, 2022 at 07:11
Controlling emotions is a crucial thing for forex traders to master. Trading is incredibly difficult to do without letting emotions get in the way. Trading with emotions can lead you to make bad decisions and lose money.
Mitglied seit Feb 20, 2021   78 Posts
Feb 24, 2022 at 04:01
Emotional control is of great importance when you are trading forex. If the market opportunities attract you quite a lot, there are chances that you will become greedy if you don’t learn to control your emotions. And there is nothing worse than making emotional decisions.
Mitglied seit Jan 20, 2022   31 Posts
Feb 28, 2022 at 07:50
Yes, trading decisions in this highly volatile and liquid market should not be driven by emotions like greed or fear, but should rather be made after carefully analysing the dominant price trends in the market.
Mitglied seit May 27, 2021   57 Posts
Feb 28, 2022 at 12:00
I believe that emotions in forex trading can always lead to bad results, the one who will overtrade will only get losses.
Anmelden / Registrieren to comment
You must be connected to Myfxbook in order to leave a comment
*Kommerzielle Nutzung und Spam werden nicht toleriert und können zur Kündigung des Kontos führen.
Tipp: Wenn Sie ein Bild/eine Youtube-Url posten, wird diese automatisch in Ihren Beitrag eingebettet!
Tipp: Tippen Sie das @-Zeichen ein, um einen an dieser Diskussion teilnehmenden Benutzernamen automatisch zu vervollständigen.