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Emotion in Forex trading

Mohammadi
Jun 13 2018 at 10:19
886 комментариев
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.

Greenwood
Jun 13 2018 at 14:45
13 комментариев
Are you saying that emotions are good or bad?

ComebackKing
Jun 14 2018 at 05:59
37 комментариев
Trading brings uncertainty because we do not know the outcomes when we enter a particular market. Most people are wired in such a way that uncertainty is naturally uncomfortable. Throw in a some losses, a negative P&L, ideas that don't work out, a blown account, etc and you have some serious fear and anxiety to also deal with. Everyone will experience this in one form or another. Then there is greed and excitement as well as hope. You have a profitable trade and there are signals that you should book your profits, perhaps it's written in your trading plan. But you think you can squeeze a bit more out of the trade and greed takes over. Or you have a small profit and you get excited and close the trade and book your small profit without letting the trade play out. Everyone will surely experience these things also.

I believe many people work on ways to block this emotion. Emotion cannot be blocked. The human body and mind is wired in a certain way and while the mind can be somewhat rewired (neuroplasticity) it's a long journey taken over thousands of hours. In order to successfully deal with this wide range of destructive emotions one must learn to accept them and be comfortable with the discomfort that these emotions will bring. You really must embrace the rush of emotions and learn that they are transitory and generally of no benefit in trading. These emotions come from us when we were in caves, being both the hunter and the hunted. There was real danger in being a human and this is how our brains and minds were developed. These triggers occur now in situations like trading, the feelings are very intense but our lives are not in danger. Only by learning to welcome and accept these emotions can we hope to stop them from altering our decision making. And until that happens, trading results will range from forever negative to under performing. My .02...

Adribaasmet
Jun 14 2018 at 06:02
994 комментариев
Greenwood posted:
Are you saying that emotions are good or bad?


I think, good emotions are supportive but bad emotions are not.

ComebackKing
Jun 14 2018 at 14:48
37 комментариев
Adribaasmet posted:
Greenwood posted:
Are you saying that emotions are good or bad?


I think, good emotions are supportive but bad emotions are not.


You are going to experience both good and bad emotions and you are going to have to deal with them in order to be successful.

lucywarren
Jun 15 2018 at 10:06
9 комментариев
ComebackKing posted:
Trading brings uncertainty because we do not know the outcomes when we enter a particular market. Most people are wired in such a way that uncertainty is naturally uncomfortable. Throw in a some losses, a negative P&L, ideas that don't work out, a blown account, etc and you have some serious fear and anxiety to also deal with. Everyone will experience this in one form or another. Then there is greed and excitement as well as hope. You have a profitable trade and there are signals that you should book your profits, perhaps it's written in your trading plan. But you think you can squeeze a bit more out of the trade and greed takes over. Or you have a small profit and you get excited and close the trade and book your small profit without letting the trade play out. Everyone will surely experience these things also.

I believe many people work on ways to block this emotion. Emotion cannot be blocked. The human body and mind is wired in a certain way and while the mind can be somewhat rewired (neuroplasticity) it's a long journey taken over thousands of hours. In order to successfully deal with this wide range of destructive emotions one must learn to accept them and be comfortable with the discomfort that these emotions will bring. You really must embrace the rush of emotions and learn that they are transitory and generally of no benefit in trading. These emotions come from us when we were in caves, being both the hunter and the hunted. There was real danger in being a human and this is how our brains and minds were developed. These triggers occur now in situations like trading, the feelings are very intense but our lives are not in danger. Only by learning to welcome and accept these emotions can we hope to stop them from altering our decision making. And until that happens, trading results will range from forever negative to under performing. My .02...
You have put this very well. Emotions are an inherent part of us. We should learn to balance them. And while it may not be feasible to escape from them, we should not let them override our better judgement and logic, especially in forex trading otherwise like you said our trading performance will suffer.

kieran (snapdragon1970)
Jun 16 2018 at 21:47
1945 комментариев
Most of this emotion comes down to our personality and how we are able to manage it, uncertainty has more effect on certain personality types than others, those cavemen who stayed in the cave and those who chased after the lion, the risk takers,if you don't like taking risk you are going to have a hard time Trading Forex, either you will freeze when the opportunity arises or leave it to late to take the trade, understanding the parameters and practicing it over and over, reduce trading size ,over sized trades does put more pressure on most people, but if overconfidence is playing a part how can we be wrong when everything is telling you to commit, back to balancing emotions, after a run of wins we have that high,its time to take a break, same with losses, its quite common to that our brain is telling us when it sees certain patterns its time to close that trade but we ignore it.A lot of screen time does seem to help with pattern recognize ,Setting all the parameters and letting the trade play out ,go off and do something else, switch screens ,you being involved isn't going to make the trade go better,if you willing to accept the risk at the start what changes that your not willing to except it later.

"They mistook leverage with genius".
Aso Dolf (Enictor)
Jun 17 2018 at 12:11
4 комментариев
I have good trading style and strategy base on Action Price, but i keep fighting with this emotional of a thing after trading successful in two weeks. I tend to be blaming my self that 'Were you drunk, when you get in for that trade?' of course am not... but it was against my rule and style of trading anyway. Any possible help from you guys?

kieran (snapdragon1970)
Jun 17 2018 at 12:49
1945 комментариев
Forgot to mention there is a personality test The Big 5 you can take online might help.

"They mistook leverage with genius".
Adribaasmet
Jun 17 2018 at 14:21
994 комментариев
ComebackKing posted:
Adribaasmet posted:
Greenwood posted:
Are you saying that emotions are good or bad?


I think, good emotions are supportive but bad emotions are not.


You are going to experience both good and bad emotions and you are going to have to deal with them in order to be successful.


Yes, you re right; but initially it’s not easy to handle bad emotions as a new trader. it takes such a long time to learn the way of controlling the bad emotions.

Mackiveki
Jun 17 2018 at 14:23
8 комментариев
that is right. you need to be a risk taker to some extent to be successful in FX. And need to be comfortable with those risks. That is how you can control emotions. I think that people are either born this way or they are not. If you get too emotions when trading then you should quit as you will never be a top trader

Aso Dolf (Enictor)
Jun 18 2018 at 05:56
4 комментариев
snapdragon1970 posted:
Forgot to mention there is a personality test The Big 5 you can take online might help.

You mind given a clear way to help this thing? 'cause am not ready to quit trading no matter what.

kieran (snapdragon1970)
Jun 18 2018 at 18:35
1945 комментариев
Enictor posted:
snapdragon1970 posted:
Forgot to mention there is a personality test The Big 5 you can take online might help.

You mind given a clear way to help this thing? 'cause am not ready to quit trading no matter what.

 yeah listen to Jordan Peterson 'your screwed no matter what you do'.'start by doing it badly'.etc

"They mistook leverage with genius".
FxMasterGuru (FxMasterGuru)
Jun 19 2018 at 06:00
1608 комментариев
It needs an exceptionally unemotional trader to handle trades with a ''cool head'' especially while handling large funds. So for the most of us - i.e. who are not exceptional - unemotional automated trading is a the only path to success.

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
ComebackKing
Jun 19 2018 at 06:01
37 комментариев
Enictor posted:
snapdragon1970 posted:
Forgot to mention there is a personality test The Big 5 you can take online might help.

You mind given a clear way to help this thing? 'cause am not ready to quit trading no matter what.


My advice is to first find a quantifiable and statistical edge in your trading. Many people have negative emotions (fear) when entering a trade. In many cases that fear is likely warranted because their trading has a negative statistical edge - so over the long run they will lose money trading the way that they do. At the same time you can be 100% in control of your emotions, be the most confident person on Earth but if you have a negative expectancy then you will still lose money. So first, you must find a clear, quantifiable and repeatable trading edge that you will use. This is EXTREMELY hard!

Once you find a bona fide statistical edge then you will have more confidence but will still likely find it hard to deal with destructive emotions. Reading up on sports psychology could help. Meditation will also help as meditation can rewire your brain. In fact, meditation is the only way to actually rewire your brain. And you're likely going to need to do this to eventually become successful.

Aso Dolf (Enictor)
Jun 19 2018 at 11:25
4 комментариев
ComebackKing posted:
Enictor posted:
snapdragon1970 posted:
Forgot to mention there is a personality test The Big 5 you can take online might help.

You mind given a clear way to help this thing? 'cause am not ready to quit trading no matter what.


My advice is to first find a quantifiable and statistical edge in your trading. Many people have negative emotions (fear) when entering a trade. In many cases that fear is likely warranted because their trading has a negative statistical edge - so over the long run they will lose money trading the way that they do. At the same time you can be 100% in control of your emotions, be the most confident person on Earth but if you have a negative expectancy then you will still lose money. So first, you must find a clear, quantifiable and repeatable trading edge that you will use. This is EXTREMELY hard!

Once you find a bona fide statistical edge then you will have more confidence but will still likely find it hard to deal with destructive emotions. Reading up on sports psychology could help. Meditation will also help as meditation can rewire your brain. In fact, meditation is the only way to actually rewire your brain. And you're likely going to need to do this to eventually become successful.


Thanks so much.

Adribaasmet
Jun 20 2018 at 06:16
994 комментариев
ComebackKing posted:
Enictor posted:
snapdragon1970 posted:
Forgot to mention there is a personality test The Big 5 you can take online might help.

You mind given a clear way to help this thing? 'cause am not ready to quit trading no matter what.


My advice is to first find a quantifiable and statistical edge in your trading. Many people have negative emotions (fear) when entering a trade. In many cases that fear is likely warranted because their trading has a negative statistical edge - so over the long run they will lose money trading the way that they do. At the same time you can be 100% in control of your emotions, be the most confident person on Earth but if you have a negative expectancy then you will still lose money. So first, you must find a clear, quantifiable and repeatable trading edge that you will use. This is EXTREMELY hard!

Once you find a bona fide statistical edge then you will have more confidence but will still likely find it hard to deal with destructive emotions. Reading up on sports psychology could help. Meditation will also help as meditation can rewire your brain. In fact, meditation is the only way to actually rewire your brain. And you're likely going to need to do this to eventually become successful.


Yes, mediation is very helpful in that case! I always practice mediation before my sleep and opening my trading chart for a couple of minutes.

Greenwood
Jun 20 2018 at 10:27
13 комментариев
I meditate too. It is very helpful to clear the head and allow me to focus properly. Especially if I am having a bad day

SpacePower
Jun 21 2018 at 10:55
8 комментариев
A better way to combat emotion is to use a cent account. It is the lubricant of FX trading

kieran (snapdragon1970)
Jun 22 2018 at 06:55
1945 комментариев
Gotta make it worth the effort to trade too, time is precious.

"They mistook leverage with genius".
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