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Emotion in Forex trading

PrincetonBoy
Aug 19 2018 at 07:23
posts 4
Banks make loads of money using trading systems. In fact most of all trading is by algos now days.

victoriajensen
Aug 20 2018 at 17:13
posts 1117
There are also plenty of traders using EAs and some of those EAs are capable of producing pretty great results. Still, it's important to train yourself to be patient so you don't touch the EA while it's working.

Adribaasmet
Aug 21 2018 at 07:23
posts 951
victoriajensen posted:
There are also plenty of traders using EAs and some of those EAs are capable of producing pretty great results. Still, it's important to train yourself to be patient so you don't touch the EA while it's working.


So, are you trading by a trading EA? Is it your own trading EA or anything else?

victoriajensen
Aug 21 2018 at 17:00
posts 1117
Adribaasmet posted:
victoriajensen posted:
There are also plenty of traders using EAs and some of those EAs are capable of producing pretty great results. Still, it's important to train yourself to be patient so you don't touch the EA while it's working.


So, are you trading by a trading EA? Is it your own trading EA or anything else?


I have traded using EAs in the past but I am not using one now.

EddyEdgardo
Aug 22 2018 at 06:33
posts 11
All EAs I tried ended up as a loss. Some worked well for a while but then wiped my account when the trend reversed

victoriajensen
Aug 22 2018 at 16:37
posts 1117
EddyEdgardo posted:
All EAs I tried ended up as a loss. Some worked well for a while but then wiped my account when the trend reversed


Did you backtest them before using them?

Kurt (KurtSung)
Sep 03 2018 at 08:38
posts 12
victoriajensen posted:
Adribaasmet posted:
victoriajensen posted:
There are also plenty of traders using EAs and some of those EAs are capable of producing pretty great results. Still, it's important to train yourself to be patient so you don't touch the EA while it's working.


So, are you trading by a trading EA? Is it your own trading EA or anything else?


I have traded using EAs in the past but I am not using one now.


May I ask why you stop using EA now?

Discipline rules, not emotions.
Kurt (KurtSung)
Sep 03 2018 at 08:38
posts 12
EddyEdgardo posted:
All EAs I tried ended up as a loss. Some worked well for a while but then wiped my account when the trend reversed



Well, I have talked with some experienced traders, here is their opinion:

The market keeps changing all the time, maybe EAs can provide significant profits but mostly during a short period.
So, some decide to do it manually, some decide to examine their EAs from time to time.

No matter which way you choose, it is a method, nothing right or wrong.
Hope these words help!

Discipline rules, not emotions.
TeraPips
Sep 03 2018 at 13:38
posts 19
Trading requires good psychology. And that means, one needs to set the right mindset while deciding the price. Else, good knowledge with poor psychology will never help to make trades fruitful.

LikeMustard
Sep 03 2018 at 14:41
posts 10
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

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