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Beginners - Kill your emotions
forex_trader_349949
Uczestnik z Aug 07, 2016
15 postów
Jan 04, 2017 at 07:59
Uczestnik z Aug 07, 2016
15 postów
owenn posted:irwanwd posted:
I think everyone should have 'margin call' experience(s) to understand how important emotion is.
what do you mean by this. The emotion is good and we can use it in the trade. Or emotion is good because it can be, only in some cases a driver. What exactly?
I support the second idea.
forex_trader_350141
Uczestnik z Aug 07, 2016
12 postów
Uczestnik z Nov 19, 2014
169 postów
Jan 04, 2017 at 08:14
Uczestnik z Nov 19, 2014
169 postów
owenn posted:
@irwanwd Because I think it is good, that is, we are human, it is in our soul, it is necessary. But it can be like a sharp sword when it comes to trade because we can make serious and costly mistakes for our capital.
Agree. but..... I think the way people are trading makes a big difference. If you are a trader who..
1. Watches his trade when he´s entered the market.
2. Doesnt have a clear strategy traded for at least 6 Months on a Demo
..then emotions will become a major part of your trading decision instead of a good strategy..
Like all areas of life, emotions affect us...ALL of us. Key is knowing when they can take over and lead to bad judgements so we take steps to to avoid these situations.
Market is no different...this is money and it affects us. If we see the market moving up and down, our heart rate WILL go up and down as well because this is real money we talking about...
If we know that we´ll get angry if somebody steals our car, money, girlfriend/boyfriend, you take steps to ensure it doesnt happen...locks, alarm, being a good partner etc. crimes off passion aint no joke..
Thats why once a trade is open, you HAVE to assume that the strategy will work and hit your target-most of the time without the need to look at it every minute. If you cant, then it means that your strategy needs some more work.
Duane
DRFXSWINGTRADING
Trade Less, Earn More
Jan 04, 2017 at 08:17
Uczestnik z Sep 04, 2015
5 postów
Trader300 posted:Bisulget posted:Hello.
And for greatest confidence of a newbie trader, I would like to recommend to start with a broker with which you can work through rebate services. @snapdragon1970 if you meant the same than sorry for duplicating
I'm newbie.
Really is it possible to work with the rebate services?
Can you recommend one of them or few from them...?
Thank you in advance.
Hi, it will help you to overtrade, thats for sure motivation to trade more.
For newbie it really doesn't matter - you need to blow account few times (anysize..) therefore my advise - after demo, follow the Markets and deposit live acc just for ONE trade (well prepared, correct size,so you'll have first live emotional axperience + or -).
If loose, repeat same when you are ready. This way you not overtrade, will have essesnce of emotions and most important save your money, start thinking about money management :)
Believe me, collecting rebate and significant live dposits not for newbie.
forex_trader_353291
Uczestnik z Aug 19, 2016
12 postów
Jan 05, 2017 at 08:01
Uczestnik z Aug 19, 2016
12 postów
prakash104 posted:
Only 5% traders are making money in any financial markets(stocks,commodities and forex).If you are new to online trading my first advice is not to believe any websites that claim for 100% accuracy in trading.It's absolutely impossible.
My question is can we predict our future?The answer may be we can guess.That's it, we cannot tell exactly what our future will be tomorrow.Same concept is applicable to trading.Nobody cannot predict exactly about what will happen next in the markets.
So forex trading business is all about probability and not exact or accurate.
With emotions there is no need to have compassion, I think it is the only thing that is not negotiated.😄
forex_trader_353291
Uczestnik z Aug 19, 2016
12 postów
Jan 05, 2017 at 08:01
Uczestnik z Aug 19, 2016
12 postów
I say this because the odds of loss are greater when we move through the emotional impulses. Not to mention that if we lose at any given time, we can not fall into a chronic depression or an attack of hysteria. It's pathetic. With emotions is point and apart.
Uczestnik z Sep 12, 2015
1948 postów
Jan 05, 2017 at 11:52
Uczestnik z Sep 12, 2015
1948 postów
Check out this site its called Chasingreturns by Ann Hunt.
"They mistook leverage with genius".
forex_trader_350643
Uczestnik z Aug 09, 2016
25 postów
Jan 05, 2017 at 19:42
Uczestnik z Aug 09, 2016
25 postów
@snapdragon1970 Have you used this website?
Uczestnik z Sep 12, 2015
1948 postów
Jan 05, 2017 at 20:30
Uczestnik z Sep 12, 2015
1948 postów
I know the person who owns it, I use my own program to do something similar.
"They mistook leverage with genius".
forex_trader_368735
Uczestnik z Oct 13, 2016
25 postów
Jan 05, 2017 at 20:35
Uczestnik z Oct 13, 2016
25 postów
@snapdragon1970 You talk about chasingreturns.com?
Uczestnik z Sep 12, 2015
1948 postów
Jan 05, 2017 at 22:38
Uczestnik z Sep 12, 2015
1948 postów
yumpio posted:Yes some work involved to set it up but worth it.snapdragon1970 posted:
I know the person who owns it, I use my own program to do something similar.
If you do it yourself it is better.
"They mistook leverage with genius".
Jan 08, 2017 at 07:51
Uczestnik z Oct 05, 2016
12 postów
@romat emotions cannot be killed. Emotions is the inner side of us, it is the thing that makes physics move. Each sales manager would tell you that the biggest purchases are done under emotions. Having emotions killed, you will lose drive that makes you trade and get profits. And surely one doesn't have switch on/switch off lever, emotions is the integrate part of our living being. So if you experience them while waking up or having breakfast, you will experience them while trading as well. Our goal is just to use them right.
Uczestnik z Dec 11, 2015
1487 postów
Jan 08, 2017 at 11:18
Uczestnik z Dec 11, 2015
1487 postów
Keeping a level head is not the same as killing one’s emotions, it’s simply learning self-control for one’s own good.
Uczestnik z Oct 08, 2016
58 postów
Jan 14, 2017 at 15:51
Uczestnik z Oct 08, 2016
58 postów
Very true, most of the new Forex traders lose their 1st trading balance since they don’t know how to make dealing with emotions and greed! In addition, I see they always begin their trading process with unrealistic trading result like 100%, 200% monthly profit even more! By the way, if you want to protect your trading capital then please makes a restricted trading plan first and then execute it!
To change your trading result, just change your thinking.
Uczestnik z Dec 11, 2015
1487 postów
Jan 15, 2017 at 12:06
Uczestnik z Dec 11, 2015
1487 postów
PriceAction13 posted:
Very true, most of the new Forex traders lose their 1st trading balance since they don’t know how to make dealing with emotions and greed! In addition, I see they always begin their trading process with unrealistic trading result like 100%, 200% monthly profit even more! By the way, if you want to protect your trading capital then please makes a restricted trading plan first and then execute it!
And then they often lose the 2nd and the 3rd too. 😞
Uczestnik z May 11, 2011
235 postów
Jan 16, 2017 at 11:33
Uczestnik z May 11, 2011
235 postów
mlawson71 posted:PriceAction13 posted:
Very true, most of the new Forex traders lose their 1st trading balance since they don’t know how to make dealing with emotions and greed! In addition, I see they always begin their trading process with unrealistic trading result like 100%, 200% monthly profit even more! By the way, if you want to protect your trading capital then please makes a restricted trading plan first and then execute it!
And then they often lose the 2nd and the 3rd too. 😞
I think I'm on my 12th or 13th over 6 years (if not more) 😀
Each one has a valuable lesson learned and shows that one should never give up, but also be realistic about what capital you use to fund your accounts. If you have $1300 available, fund with only $100, don't start with a $1300 account.
For every loss there should be at least an equal and opposite profit.
Uczestnik z Dec 11, 2015
1487 postów
Jan 17, 2017 at 11:47
Uczestnik z Dec 11, 2015
1487 postów
xgavinc posted:mlawson71 posted:PriceAction13 posted:
Very true, most of the new Forex traders lose their 1st trading balance since they don’t know how to make dealing with emotions and greed! In addition, I see they always begin their trading process with unrealistic trading result like 100%, 200% monthly profit even more! By the way, if you want to protect your trading capital then please makes a restricted trading plan first and then execute it!
And then they often lose the 2nd and the 3rd too. 😞
I think I'm on my 12th or 13th over 6 years (if not more) 😀
Each one has a valuable lesson learned and shows that one should never give up, but also be realistic about what capital you use to fund your accounts. If you have $1300 available, fund with only $100, don't start with a $1300 account.
I completely agree. Your perseverance is inspirational, I don’t know where you found the strength for it.
Jan 20, 2017 at 12:56
Uczestnik z Dec 17, 2015
30 postów
Key to remain calm and with cool head is to be in control of your investment. If you are in control of what is going on, you can be cool enough to make solid decisions. Otherwise, panic happens when things get out of control. I have to add that emotions are the ones that trigger your actions. Thinking is a passive process. So instead of controlling or switching off emotions (which is impossible as already said), we can focus on controlling the money we put into trading, including proper risk management.
I also agree about the important of perseverance, especially if you improve something with each new iteration.
I also agree about the important of perseverance, especially if you improve something with each new iteration.
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