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Emotion in Forex trading

Mackiveki
Jun 17 2018 at 14:23
8 príspevkov
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

Enictor (Enictor)
Jun 18 2018 at 05:56
4 príspevkov
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.

snapdragon1970 (snapdragon1970)
Jun 18 2018 at 18:35
1944 príspevkov
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
1607 príspevkov
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 príspevkov
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.

Enictor (Enictor)
Jun 19 2018 at 11:25
4 príspevkov
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
937 príspevkov
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 príspevkov
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 príspevkov
A better way to combat emotion is to use a cent account. It is the lubricant of FX trading

snapdragon1970 (snapdragon1970)
Jun 22 2018 at 06:55
1944 príspevkov
Gotta make it worth the effort to trade too, time is precious.

"They mistook leverage with genius".
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