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Emotion in Forex trading

vedranm
Jan 31 2019 at 12:26
10 príspevkov
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
165 príspevkov
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. :)

HyperAI (HyperAI)
Jan 31 2019 at 13:36
16 príspevkov
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.

The AI is the future.
togr (togr)
Jan 31 2019 at 14:25
4862 príspevkov
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

togr (togr)
Jan 31 2019 at 14:25
4862 príspevkov
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.

HyperAI (HyperAI)
Feb 01 2019 at 10:15
16 príspevkov
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!'...

The AI is the future.
Jdimitrov
Feb 03 2019 at 07:26
10 príspevkov
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 príspevkov
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?

Prest (Prest)
Feb 05 2019 at 12:12
43 príspevkov
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.

my experience is my profit
Ognjan
Feb 05 2019 at 13:29
8 príspevkov
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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