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Beginners - Kill your emotions

Clive (CliveCampbell)
Nov 24 2016 at 09:58
47 postów
Bisulget posted:
Trader300 posted:
Bisulget posted:
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

Hello.
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.


Well it was yet long ago when I was interested in it and participated in such things last time, I used to work with forex cash back cloud, but really not sure if they are the best for it nowadays.


Why are you not interested in such services anymore?

Mario (leopoldo)
Nov 27 2016 at 07:47
41 postów
xgavinc posted:
leopoldo posted:
Bisulget posted:
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


What do you mean by rebate services? To get rebates on what?


I think it's a reference to rebates on trades, some brokers provide credit or cash rebates on every round lot traded for example usually through a loyalty program.


Thanks for the explanation. Got it and now all clear 😄

Bisulget
Nov 30 2016 at 11:32
14 postów
CliveCampbell posted:
Bisulget posted:
Trader300 posted:
Bisulget posted:
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

Hello.
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.


Well it was yet long ago when I was interested in it and participated in such things last time, I used to work with forex cash back cloud, but really not sure if they are the best for it nowadays.


Why are you not interested in such services anymore?


There was such a period in my life when I needed to stop trading, and some time later came back to forex already with other brokers. For that time, rebates were not my principal interests and I was not at all a newbie trader.

VickyJones
Nov 30 2016 at 15:47
45 postów
Five star discussion, really! Tips such as to follow the trend, to automate if possible, the meditation, proper money management etc. I personally found plenty of cool things shared here. Maybe finding a trading mentor/coach could also help in dealing with the emotions. They cannot be completely killed as it was already said. Losses can and will always happen but the ability to accept them and recover is what makes the difference.

Sotarbin
Jan 02 2017 at 08:41
12 postów
Rather useful thread I shall admit, and in my vision of this situation new trader should check how do emotions run in trading and then step by step make friends with them. There is just nothing like turn on/off button.

kieran (snapdragon1970)
Jan 02 2017 at 14:00
1945 postów
Sotarbin posted:
Rather useful thread I shall admit, and in my vision of this situation new trader should check how do emotions run in trading and then step by step make friends with them. There is just nothing like turn on/off button.

One cant turn off emotions in trading but you can manage your risk, to much of it and you will be on a rollercoaster of emotions, only risk a small % of your account 6 out of 10 trades are going to be wrong in normal conditions.

"They mistook leverage with genius".
yumpio
Jan 02 2017 at 15:21
25 postów
mlawson71 posted:
I would say that most new traders ruin their account balance because of lack of emotional discipline, to be honest. You either learn and start over or you quit.



Exactly. Many say that it is not easy to have mastery of the emotions, but I believe that if you work the discipline you can change anything.

yumpio
Jan 02 2017 at 15:23
25 postów
VickyJones posted:
Five star discussion, really! Tips such as to follow the trend, to automate if possible, the meditation, proper money management etc. I personally found plenty of cool things shared here. Maybe finding a trading mentor/coach could also help in dealing with the emotions. They cannot be completely killed as it was already said. Losses can and will always happen but the ability to accept them and recover is what makes the difference.



I think for the control of the emotions there is very good literature of training and personal improvement. Yes it is possible to control the emotions!
And of course there will be losses, so they can not fall apart every time they occur. Just learn and keep trading.

kieran (snapdragon1970)
Jan 02 2017 at 16:54
1945 postów
snapdragon1970 posted:
Sotarbin posted:
Rather useful thread I shall admit, and in my vision of this situation new trader should check how do emotions run in trading and then step by step make friends with them. There is just nothing like turn on/off button.

One cant turn off emotions in trading but you can manage your risk, to much of it and you will be on a rollercoaster of emotions, only risk a small % of your account 6 out of 10 trades are going to be wrong in normal conditions.

If you can learn to be calm when everyone else is panicking, you can get some great trading opportunities, try to think a few steps ahead so you wont make as many stupid trades, waiting for the right entry, forming a bias is useful but be ready to switch your decision too, I have seen some top traders sticking to a trade because they refuse to change their minds.

"They mistook leverage with genius".
irwanwd
Jan 03 2017 at 07:44
11 postów
I think everyone should have 'margin call' experience(s) to understand how important emotion is.

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