Emotional Trading

The only thing for you to recover your trading is to analyse your past mistakes. Otherwise, you are going to make the same mistakes in the future and the outcome will be the same. That is why I support the idea of having a trading diary where you can write all your thoughts which made you make this or that decision. It is a very nice tool to trak down your own trading strategy and its downsides.

Unellene posted:
emotions are such a moment that can bring both benefit and failure, all the same decisions are made with emotions different than under normal conditions

Emotion is very dangerous in this market. You have to make proper plan.

Emotions can be an issue in forex trading. Whether you are a novice trader or an experienced one, we all must face emotions that will affect our trading. So always keep your emotions in check when trading because they can overwhelm you at any time.

SteveHanks posted:

Unellene posted:
emotions are such a moment that can bring both benefit and failure, all the same decisions are made with emotions different than under normal conditions

Emotion is very dangerous in this market. You have to make proper plan.

It really is a plan is so key as it literally just gives you a process to follow. That is key in keeping emotions at bay. The better the plan the more objectivity i find :)

CraigMcG2020 posted:

SteveHanks posted:

Unellene posted:
emotions are such a moment that can bring both benefit and failure, all the same decisions are made with emotions different than under normal conditions

Emotion is very dangerous in this market. You have to make proper plan.

It really is a plan is so key as it literally just gives you a process to follow. That is key in keeping emotions at bay. The better the plan the more objectivity i find :)

I also personally find solace in statistics. If I know my plan has a statistical edge then I know I just need to stick to it regardless of the situation and over time I will come good.

Yep, stats don't lie if the sample is big enough

The only way for you to recover from your losses is to learn lessons from this experience. You should analyse your trading and decision making process thoroughly in order to find the exact mistakes which led to the losses. Otherwise, you will repeat your mistakes and you will have the same trading results.

@Unellene Yes trading out of emotions is not good. Most of time we make mistake in emotions. During trading one should be very logical and analytical.

Emotions play an important role in our lives. This is true everywhere, but particularly in forex trading. We will not be able to handle forex business if we avoid its influence. That is why we should demo trade and trade in real time to reduce the emotion. Do you agree?

Trading forex is only possible for a very small number of people. The success of top forex traders shows that you can get rich trading forex. You will lose money even if you are a successful trader, but if you can consistently turn a profit, you will be well on your way to success.

I also think that emotions are what make us human. To not have them is unreasonable. But they MUST be controlled when trading. That is the biggest task most traders will face. Especially when the markets will brutally lay out your weaknesses in front of you. Most people react badly to that.

Forex traders are ultimately responsible for their own success or failure in the market. A trader should avoid emotions while trading and keep a clear mind. To be a successful trader, a trader should develop discipline and patience to stay objective toward their own success.

emotions really a bad habit in trading life , when you make a trade by emotions
of course it could be dangerous. so we the traders should more careful about emotional trading.

It's tough to control emotions as our mind is filled with the lot of things that are directly linked to us and trading is just a small part of it.

winning_trades posted:
It's tough to control emotions as our mind is filled with the lot of things that are directly linked to us and trading is just a small part of it.

Emotion can put you in great danger.