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Don’t Let Your Emotions Dictate Your Forex Trading

Tocage
Jan 21 at 18:30
18 Posts
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.
RobSchiz
Jan 23 at 18:48
567 Posts
Tocage posted:
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.
Yes. Emotions can put a trader in a great danger.
WaltonCharles
Jan 27 at 18:24
144 Posts
RobSchiz posted:
Tocage posted:
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.
Yes. Emotions can put a trader in a great danger.
Emotion is the most dangerous enemy of a trader in this market.
Staran
Feb 05 at 12:11
14 Posts
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.
miguelcaron
Feb 16 at 07:11
70 Posts
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.
skihav
Feb 16 at 14:36
801 Posts
It is important to understand that the dominance of emotions will bring only one result - losses. Most often, it is quite difficult to get a different result.
Briosody
Feb 21 at 05:42
48 Posts
That’s an important thing to keep in mind. Being emotional is natural but it should not come in your way of trading. Execute trades only when your trading plan says so.
croisssan
Feb 21 at 14:18
939 Posts
A fairly simple option can work here - with experience. If one day a trader realizes that he can lose money due to emotions, next time he will think differently.
Pogonip
Feb 23 at 05:40
25 Posts
Emotionally-driven trading decisions often lead to losses since they are not based on market analysis. They are only based on what a trader thinks about a certain trade.
skihav
Feb 23 at 14:00
801 Posts
Emotions most often really negatively affect the results of work. Unfortunately, this phenomenon is quite common.
davemack
Feb 24 at 04:01
78 Posts
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.
ceceliagreerr
Feb 28 at 07:50
31 Posts
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.
CocoChannel
Feb 28 at 12:00
57 Posts
I believe that emotions in forex trading can always lead to bad results, the one who will overtrade will only get losses.
croisssan
Feb 28 at 16:54
939 Posts
Emotions almost always lead to one thing - wrong and ill-conceived decisions. It is important to understand and assess the risks.
Mirakelv
Mar 03 at 19:18
25 Posts
It's true, but sometimes it's very difficult to control emotions in order not to let them dictate me. It's a primary goal actually for all traders who want to learn how to control emotions and how to remain wise and rational. In my opinion, the main here is to understand that trading is all about rational approach and there is no need to express emotions. They will always distract and interfere in your thinking process.
Nevertheless, sometimes you can show your emotions, but they have to be predominantly positive, because positive emotions increase your mood and help you to handle with all the difficultie on the market. Try to avoid negative emotions.
Gewgaw
Mar 11 at 07:01
34 Posts
Fear and greed are two visceral emotions that are necessary to be controlled. Traders need to think ahead of time. This will help traders to move past the emotional response.
skihav
Mar 12 at 10:10
801 Posts
It is important to understand that emotions most often lead to wrong decisions and losses. It's worth judging right away.
croisssan
Mar 13 at 10:54
939 Posts
Emotions are quite normal in the process of trading. The main thing is to be able to deal with it correctly.
Fx_challenger
Mar 18 at 15:21
62 Posts
Only by adhering to your trading system you can control your emotions. And the most important thing is to keep your expectations of your trading account moderate
croisssan
Mar 19 at 11:54
939 Posts
It is important to sensibly evaluate the result of the influence of emotions. And in most cases it is about the same.
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