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Emotion in Forex trading

SurePath
dWaverFX
Jan 30 2019 at 12:50
13 комментариев
Establish emotional boundaries between you and the trade, accept personal responsibility for your actions and let it go.

AniLorak
Jan 30 2019 at 12:57
920 комментариев
niceGLer posted:
In coming friday, the 1st of February is the NFP release day. I've decided to stay on sidelines until next week. That is emotionally difficult not to take any action. Almost depressing.

I didn't trade so much on demo. Instead, I tried to limit my losses until I get the grip from trading.


Then now you are using micro account; isn’t? besides, if you are not confident enough; better to leave the news session.

Donald Betcher (DonaldB)
Jan 30 2019 at 13:03
38 комментариев
togr posted:
iamjacobs posted:
togr posted:
Emotions makes us humans.
They also make us so bad traders.


if(emotions makes us humans && emotions makes us so bad traders){
     Humans are so bad traders;
}else{
    You are in 5%, who have profit;
    You are an alien;
}


Human without emotion is not necessarily alien :)


Of course not :-)
Human ? (You are in 5%, who have profit) : alien;

But I'm also not sure if aliens have emotions...

Donald Betcher (DonaldB)
Jan 30 2019 at 13:03
38 комментариев
togr posted:

Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.

That is my story in short.


This is a good idea to avoid a risks caused by emotions. But it should be adjusted all the time to make the EA working for each market style.

vontogr (togr)
Jan 30 2019 at 13:04
4862 комментариев
DonaldB posted:
togr posted:

Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.

That is my story in short.


This is a good idea to avoid a risks caused by emotions. But it should be adjusted all the time to make the EA working for each market style.


Nope if you BT over 10 years there is no new situation
Everything happened already - recall Swiss bank peg removal

niceGLer
Jan 30 2019 at 16:23
169 комментариев
AniLorak posted:
niceGLer posted:
In coming friday, the 1st of February is the NFP release day. I've decided to stay on sidelines until next week. That is emotionally difficult not to take any action. Almost depressing.

I didn't trade so much on demo. Instead, I tried to limit my losses until I get the grip from trading.


Then now you are using micro account; isn’t? besides, if you are not confident enough; better to leave the news session.

 
Yes, I am using a very small micro account. I exceeded already my profit target for January. I know one can make huge gains during news releases, but it is also very risky. My current broker has made it too expensive to trade in very short time frames (~1 pips) so I am leaving those high volatility occasions unless I have a position already open and the situation favors me. Besides it seems that EURUSD and AUDUSD are ranging, in any case.

I think I am getting into trading, little by little. It took 4 long years, and it is actually easier and more boring than I thought in the beginning. Waiting game, I would say.

Taking part to discussions helps a bit ;)

Nasrul
nasrul_poyo
Jan 31 2019 at 07:29
124 комментариев
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂

niceGLer
Jan 31 2019 at 10:03
169 комментариев
togr posted:

Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.

That is my story in short.


This has been in my TO-DO list for awhile.
I've been programming with C during my studies. C is a procedural language like MQL4 is, mostly. Since MQL4 has also OOP characteristics, I'd like to program EA's in object oriented style. However, most of the examples and code have been done in old-school fashion. So not much help from there.

So my plan is:
1) Gain capital
2) Move to longer time frames
3) Have time for learning OOP programming language like Java (and learn OOP fashion)
4) Start programming EAs

I appreciate your suggestion. Any ways of making this quicker? I am a hands-on learner.

I believe that EAs are a tool for controlling emotions. Also, I would use them for gaining more time for something else.

Marcus (HyperAI)
Jan 31 2019 at 10:52
16 комментариев
nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂


Yeah.

My cures of it is to open and forget. Just set up a sl and tp.

Adribaasmet
Jan 31 2019 at 12:24
994 комментариев
HyperAI posted:
nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂


Yeah.

My cures of it is to open and forget. Just set up a sl and tp.


It’s a great practice; by the way, I already closed my balance section from my chart; so I don’t feel huge pressure during the opposite moves.

vedranm
Jan 31 2019 at 12:26
10 комментариев
Trade on a higher time frame. There will be less opportunities to screw up and take false trades. The set ups on the higher time frames are better anyway

niceGLer
Jan 31 2019 at 12:32
169 комментариев
vedranm posted:
Trade on a higher time frame. There will be less opportunities to screw up and take false trades. The set ups on the higher time frames are better anyway


Direction from the upper (4h or 1D) time frame, timing from the lower (entry & exit). I've tried this and that, now it seems to be working. :)

Marcus (HyperAI)
Jan 31 2019 at 13:36
16 комментариев
Adribaasmet posted:
HyperAI posted:
nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂


Yeah.

My cures of it is to open and forget. Just set up a sl and tp.


It’s a great practice; by the way, I already closed my balance section from my chart; so I don’t feel huge pressure during the opposite moves.


Emotions feed on information and live in imagination. So, by isolating yourself from unnecessary information, you can significantly reduce the emotional background.

vontogr (togr)
Jan 31 2019 at 14:25
4862 комментариев
niceGLer posted:
togr posted:

Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.

That is my story in short.


This has been in my TO-DO list for awhile.
I've been programming with C during my studies. C is a procedural language like MQL4 is, mostly. Since MQL4 has also OOP characteristics, I'd like to program EA's in object oriented style. However, most of the examples and code have been done in old-school fashion. So not much help from there.

So my plan is:
1) Gain capital
2) Move to longer time frames
3) Have time for learning OOP programming language like Java (and learn OOP fashion)
4) Start programming EAs

I appreciate your suggestion. Any ways of making this quicker? I am a hands-on learner.

I believe that EAs are a tool for controlling emotions. Also, I would use them for gaining more time for something else.


I suggest you gather capital as last step
As first step you have to have great trading idea
Than apply the steps I have described

vontogr (togr)
Jan 31 2019 at 14:25
4862 комментариев
HyperAI posted:
Adribaasmet posted:
HyperAI posted:
nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂


Yeah.

My cures of it is to open and forget. Just set up a sl and tp.


It’s a great practice; by the way, I already closed my balance section from my chart; so I don’t feel huge pressure during the opposite moves.


Emotions feed on information and live in imagination. So, by isolating yourself from unnecessary information, you can significantly reduce the emotional background.


Isolating yourself from information is not good.
You need to know there is NFP coming and act according to your trading plan.

Marcus (HyperAI)
Feb 01 2019 at 10:15
16 комментариев
togr posted:

Isolating yourself from information is not good.
You need to know there is NFP coming and act according to your trading plan.


Yes, sure, this is info trader needed to trade. I meant the information like 'is a order green or still red...' or 'Oh. It looks like a 1% of trend breaching, maybe I should close it early...' or 'remains 3 pips to my sl, maybe I should drag it more to avoid closing, I'm sure, the price will go to profit right now!'...

Jdimitrov
Feb 03 2019 at 07:26
10 комментариев
i agree. if you focus on important info like NFP and refrain from reading all kinds of 'analyst' articles that helps with focus on what reall matters. working at higher timeframe also helps. never every even bother looking at anything less than 1H. it is just noise

AniLorak
Feb 03 2019 at 08:16
920 комментариев
HyperAI posted:
togr posted:

Isolating yourself from information is not good.
You need to know there is NFP coming and act according to your trading plan.


Yes, sure, this is info trader needed to trade. I meant the information like 'is a order green or still red...' or 'Oh. It looks like a 1% of trend breaching, maybe I should close it early...' or 'remains 3 pips to my sl, maybe I should drag it more to avoid closing, I'm sure, the price will go to profit right now!'...


Mate’ what does info traders mean? I have no idea on this type of terminology. Did you mean news trader?

Richard Rest (Prest)
Feb 05 2019 at 12:12
43 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.


A human body and reactions of a brain are not indicate a different emotions. Emotions are chemical reactions inside body. In this way, there is no differ between good and bad emotions. There is only your chemistry.

Ognjan
Feb 05 2019 at 13:29
8 комментариев
Prest 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.


A human body and reactions of a brain are not indicate a different emotions. Emotions are chemical reactions inside body. In this way, there is no differ between good and bad emotions. There is only your chemistry.


That doesn't help one bit. The problem we have is how to deal with emotions in trading. It doesn't matter about the chemistry

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