As a human being, emotion is a part and parcel of our life. Controlling emotion is a tough job. But in forex trading, as a trader you have to control your emotions. Emotion can cause the loss in trading. Taking decision emotionally can not be suitable for you. You need to be practical. You should know when to trade, what to trade and how to trade. I am trading with Tpglobalfx. They always help me to control my emotions. They suggest me about the trading policy. So, it is quite easy for me to control my emotions while I am trading with them.
Emotion is bad in forex trading, what else do you want to hear from me? That it's good or whatever? Please make it possible for me if you do not mind it here. Can you please? I do not recommend you to do that clearly anyway. Be calm and trade Forex;)
Most traders are greedy and impatient. They would like to see their profits double in a matter of hours. After a few random wins, they think they have uncovered the code of the market for forex. In the end, they are unable to make funds.
Akasuki posted: Most traders are greedy and impatient. They would like to see their profits double in a matter of hours. After a few random wins, they think they have uncovered the code of the market for forex. In the end, they are unable to make funds.
Really love this, the whole problem with people failing is summed up in this post. short sightedness is the biggest downfall
Nasrul_Swing posted: I don't have any emotion here. If loss, make a new trade again, if margin call, deposit again, if profits, withdraw. Everyone knows forex is the riskiest investment. No emotion here, just money. $.$
Exactly, if you lose, you will have to fight positively with the trading market every day. And the share of profit should be increased with the risk ratio.
Mohammadi posted: i think without trading emotions and maintain analysis always when trading is a real part of real trading discipline that always supportive to avoid unfortunate risk and losses. but we cant maintain this attitude during trading most of the time. as a result 90% are loser from here above all the beginners level.
Yes, it is very tough to be disciplined in the live market. A trader may know what he needs to do, what he should do or should not do. However, when it comes to implementing things in the live market, we seem to get carried away. This is the main reason that 90% traders fail in the market.
You can always try to risk more money to reduce emotions. Risk less, use SL, only deposit a small amount at first, etc. so that you aren't able to lose as much money. That tactic helped my anxiety when I first started.
You cannot excape emotions while trading, unfortunately, but you can control them. Surely, you need to learn how to do that, but otherwise, you are highly likely to lose everything that you've got on your trading account.
Emotions are inevitable part of trading however sometimes they probably are very harmful for a trader. No doubts, that it's impossible to get rid of any emotions, because they literally ingulf you, especially when you have hard trading day. Nevertheless, traders should learn how to suppress emotions in a way it won't be harmful for your organism. All people know that suppressing the emotions definitely leads to serious mental health issues, however they really interfere your conscious when you analyze the graphic. In my opinion, it can be learnt how to do it but it requires enough time and experience.
Emotions are a geat enemy of success in trading. However, that is the thing that we cannot get rid of. The only way to survive on the market is to comb your emotions and control them. I believe that the best way to deminish the influence of psychology is to work out a precise and categorical trading strategy. If you build such a plan which will be objective and precise, you will just follow the formula of taking trading decisions and you will hardly experience greed or fear when you will deal with sheer numbers and calculations.
Emotion in trading can lead to more losing trades. A trader should focus on executing trades based on a strategy and should not get affected by the emotions of greed, fear, and hope. This can lead to a trader having good risk control, where one does not take unnecessary risks.
I totally agree. The idea of shutting down emotions isn't what is needed. Just raising self awareness and ability to control emotions and departmentalise them. I enjoyed reading the Chimp Paradox to help with this.
If you can't spot the liquidity then you are the liquidity.
Emotions play the biggest role in trading. I got used to think that if there would be no emotions in trading, then all traders would become successful. According to statistics, the biggest part of traders give up trading because of their emotions and this isn't surprising at all. Everything because it's difficult to control them while we're trading. No doubts, that if we will be able to handle our emotions during responsible moments, then we would have less losses and we would make less mistakes. The reality is strict to us, and there are no easy ways to become successful. All paths require special approach I guess.