LikeMustard posted: I'm not sure about all this psychology talk. Surely if you have a good trading strategy, good money management and you stick to your rules of trading there shouldn't be a problem with emtions
Mate, following the own trading plan with honesty is important; most of the time initial trading plan breaks the proper game plan & makes trader greedy.
Emotional conditons are differend for each of us. Some people can stay calm and trade in red, some people like me, worry about each fail. The really important thing is to accept the fact about your personality and note if you need to train yourself or not.
pipsKeeper posted: Emotional conditons are differend for each of us. Some people can stay calm and trade in red, some people like me, worry about each fail. The really important thing is to accept the fact about your personality and note if you need to train yourself or not.
Right! We traders need to understand our own strength & weakness at first! Besides, having a good trading skill is very much important here.
Emotion is mainly considered the foremost reason for losing in Forex trading. So it would be great if we practice our trading devoid of this nature. Even though it is impossible to remove completely from our trading but we have control our emotion to keep survive in this volatile trading place for a long time with making profit successfully.
'Good' emotions (joy, happiness, excitement, etc...) will give a people a false sense of superiority when it comes to their trading and causes people to over trade with the expectation they are going to 'win big' or some other such nonsense.
'Bad' emotions (anger, depression, despair, etc...) will give people a 'fight or flight' kind of response that happens when a trader makes a really bad trade.
This causes people to over trade and make bad trading decisions such as trying to trade themselves out of a bad situation on their account with massive lot/unit sizes and such, which when the trade goes bad, will cause traders panic and blow out their account because are ignoring the basic rules of successful trading.
Emotions should NEVER be allowed to have any impact whatsoever in trading the markets.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
I have been trading a while and met a pro trader (for a bank) the other day. It wasn't a pleasant experience. He knew so much about markets, economics etc and it made me feel pretty small and ignorant. He seemed to think that without years of knowledge of economics and a team of people analysing the fundamentals it is impossible to make money trading. He thought that all day traders were just gamblers.
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.