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Emotion in Forex trading

Nasrul
nasrul_poyo
Dec 14 2018 at 08:50
posts 124
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 😂
kieran (snapdragon1970)
Dec 14 2018 at 23:13
posts 1948
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".
AmDiab
Dec 16 2018 at 11:16
posts 718
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.
kieran (snapdragon1970)
Dec 16 2018 at 14:29
posts 1948
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".
Adribaasmet
Dec 17 2018 at 07:45
posts 994
Spending time on Forex forums is not a bad practice! But, we should be careful about the spammers.
FuYating
Dec 18 2018 at 07:07
posts 11
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
Donald Betcher (DonaldB)
Dec 21 2018 at 11:33
posts 38
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.
AniLorak
Dec 23 2018 at 14:55
posts 920
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.
Allan (Arcferreira)
Dec 24 2018 at 07:18
posts 50
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.


Trade safely... Remember, a high Drawdown means a high risk!
Donald Betcher (DonaldB)
Dec 24 2018 at 09:58
posts 38
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.
Adribaasmet
Dec 24 2018 at 13:19
posts 994
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.
Olas Niko (Trader4hire)
Dec 25 2018 at 07:34
posts 42
There must be no emotion for one to succeed in Fx, make a decision when required.
Move along with the Market
AniLorak
Dec 25 2018 at 13:26
posts 920
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.
Olas Niko (Trader4hire)
Dec 25 2018 at 14:30
posts 42
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
nick3232
Dec 25 2018 at 14:36
posts 162
a good way to clear emotions is to have a low risk money management
AniLorak
Dec 26 2018 at 08:54
posts 920
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.
Olas Niko (Trader4hire)
Dec 26 2018 at 08:55
posts 42
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
BartenderFX
Dec 26 2018 at 09:24
posts 14
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.
RosdiXM
Dec 26 2018 at 09:32
posts 7
Good discussion.......
Try not to risk more than 3% on single trade
AniLorak
Dec 26 2018 at 09:54
posts 920
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.
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