Beginners - Kill your emotions

mlawson71 posted:

BaldoN posted:
I would also add here: do not run after market. Make your plan for entry and exits and wait market to come to your planned levels (ex. supports or resistances, touch trades if you use MA's etc. - then shot :)

I agree. Also, understand that the market is always right. Hoping that it will just turn in your favour won’t make it so.

Yes, totally agree! No place for hope, only for research and analysis based predictions!

BaldoN posted:
I would also add here: do not run after market. Make your plan for entry and exits and wait market to come to your planned levels (ex. supports or resistances, touch trades if you use MA's etc. - then shot :)

I guess, running after market itself indicates falling into emotional ocean, which is unallowable for successful trading

MC85 posted:

mlawson71 posted:

BaldoN posted:
I would also add here: do not run after market. Make your plan for entry and exits and wait market to come to your planned levels (ex. supports or resistances, touch trades if you use MA's etc. - then shot :)

I agree. Also, understand that the market is always right. Hoping that it will just turn in your favour won’t make it so.

Yes, totally agree! No place for hope, only for research and analysis based predictions!

I don’t object to hope, actually, I think it’s even good to have positive thinking, but hope alone is not enough.

BaldoN posted:
I would also add here: do not run after market. Make your plan for entry and exits and wait market to come to your planned levels (ex. supports or resistances, touch trades if you use MA's etc. - then shot :)

Do you mean to plan without considering the current market situation with the presumption that sooner or later the price will reach your entry level in a trend that you forecasted in your plan?

Thread is apt. beginners ruin their trading by bringing the emotions in role. It is very much important for the traders to control their emotions while trading. Discipline and self control are very necessary in trading. Beginners usually ruin their accounts initially due to emotions but this seems as a lesson for them to first learn and then trade. Experience is the best tutor and here also it applies well. Controlling emotions is not easy but we must restrain ourselves.

best solution is automated trading:)

coders posted:

best solution is automated trading:)

It is but not easy for beginners to create or find good system.

You're right, but this is the best solution for people that do not want to look every day for 8-12 hours in the graph, now everything is automatic.

coders posted:

You're right, but this is the best solution for people that do not want to look every day for 8-12 hours in the graph, now everything is automatic.

I agree, even for professional it is easier to trade via EA

coders posted:

best solution is automated trading:)

Really? I do not think so, some get up when they see that the panoramam apparently does not work well for them. The solution is to control the emotions and learn to trade with a cool head.

@coders @togr I think that the beginner should not leave everything in the hands of automated trading. Of course it will not be easy to find a good system, but it is not an impossible topic. Not if the beginner has mentoring and advice and a wealth of knowledge on the subject.

I think that before one uses automated trading they need to learn enough about technical analysis to understand how that automatic trading works.

morning 0,2 good whisky:)

gustavoz posted:
@coders @togr I think that the beginner should not leave everything in the hands of automated trading. Of course it will not be easy to find a good system, but it is not an impossible topic. Not if the beginner has mentoring and advice and a wealth of knowledge on the subject.

You need to answer yourself you wish to earn money you will probably fail as manual beginner.
If you wish to learn something you have to trade manually but better stick to demo until you are profitable, right?

I think that before you start, you have to study very well what it consists of, get informed, know key concepts, see advice, learn about other people's experiences, consult doubts, see investment techniques.

coders posted:

best solution is automated trading:)

Yes you are right. EAs are very useful and are saving a lot of time and energy to traders. Not surprised that most of my friends who trade are using EAs. Not only that they save time and energy but also manually will be very hard to place a lot of orders for a very close time range. Also EAs are not emotional and won’t place more orders if you lose some funds 😄

yes, EA is good solutions.

Also automated trading manager, you open positions and manager change tp, sl and more...

Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.