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How to become emotionless in forex?
Členom od Mar 23, 2024
23 príspevkov
Apr 29, 2024 at 11:35
Becoming emotionless in forex trading involves disciplined practices to mitigate the impact of emotions on decision-making. Firstly, traders must develop a well-defined trading plan with clear entry and exit criteria. Secondly, employing risk management strategies, such as setting stop-loss orders, helps limit emotional reactions to market fluctuations. Additionally, sticking to predetermined trading rules and avoiding impulsive actions are essential. Regularly reviewing trading performance objectively can also help detach from emotions by focusing on statistical outcomes rather than short-term gains or losses. Finally, cultivating mindfulness and psychological resilience through techniques like meditation can further support emotional detachment in forex trading.
Členom od Mar 17, 2021
13 príspevkov
May 02, 2024 at 14:11
Pursuing automation, if possible, will also eliminate the vast majority of "psychological" hurdles that people will experience during trading.
Mottos are corny. Just find an edge, test it rigorously and trade it.
Členom od Feb 12, 2016
127 príspevkov
May 03, 2024 at 06:33
Gwydaer posted:
Pursuing automation, if possible, will also eliminate the vast majority of "psychological" hurdles that people will experience during trading.
Yeah I also think that's the only solution others inevitably involve emotional response especially when trading is carried out using high leverage.
Členom od Mar 17, 2021
13 príspevkov
May 05, 2024 at 05:49
bardachok posted:Gwydaer posted:
Pursuing automation, if possible, will also eliminate the vast majority of "psychological" hurdles that people will experience during trading.
Yeah I also think that's the only solution others inevitably involve emotional response especially when trading is carried out using high leverage.
100%, I'd never look back. The free time also allows for further system development, research, client onboarding etc. Still requires monitoring during volatile news events though.
Mottos are corny. Just find an edge, test it rigorously and trade it.
forex_trader_3531958
Členom od Dec 13, 2023
18 príspevkov
May 05, 2024 at 15:21
You become emotionless when you treat it as a business instead of wins and losses.
Členom od May 08, 2023
97 príspevkov
May 05, 2024 at 20:23
It's impossible to be emotionless, that is why people resort to EAs. However, I would say that over time with some decent understanding of the market, this feeling of anxiety and uncertainty will be reduced. It will not go away entirely though.
Členom od Sep 02, 2022
57 príspevkov
May 07, 2024 at 15:26
Gwydaer posted:
Pursuing automation, if possible, will also eliminate the vast majority of "psychological" hurdles that people will experience during trading.
I trade with an advisor, but it doesn’t really give me psychological comfort. I worry the same way if I traded manually.
Členom od Mar 17, 2021
13 príspevkov
May 08, 2024 at 08:23
Is it your own system? I'm happy to let my systems run 24/7 (except for major news events) because of the back-end testing. Definitely needs some watching with volatile news triggers though.
Mottos are corny. Just find an edge, test it rigorously and trade it.
Členom od Aug 13, 2024
34 príspevkov
Sep 23, 2024 at 14:50
Totally agree that staying emotionless in trading is key, but it’s easier said than done, right? Personally, having a strict trading plan has saved me from a lot of emotional mistakes. I remember early on, I’d make impulsive trades when I saw big swings, and it rarely ended well. Now, I stick to my rules, set my stop-losses, and try not to get too attached to any single trade. Meditation’s actually helped too—it keeps me focused and less reactive. It’s all about finding that balance between discipline and mental clarity.
Členom od Oct 21, 2024
61 príspevkov
Nov 13, 2024 at 05:53
It took time, but journaling my trades really helped me see where emotions got in the way—now, I treat each trade like just another step in the plan.
Členom od Oct 16, 2024
21 príspevkov
Nov 13, 2024 at 07:08
Cut the ego. Follow your plan, set your stops, and don’t chase losses. Focus on the process, not the outcome, money’s just numbers; stay detached.
Členom od Aug 28, 2024
61 príspevkov
Nov 14, 2024 at 05:54
I think it's like sticking to your plan when everyone else is freaking out—don’t let the ups and downs mess with your head. That’s the thing I understand so far—just keep following your strategy.
All in for Success
Členom od Jan 19, 2016
37 príspevkov
Nov 20, 2024 at 08:18
more experience and more rest=)
Členom od Oct 28, 2024
63 príspevkov
Nov 22, 2024 at 08:16
Dear friends, emotions, fear and stress during trading are natural and instead of suppressing and ignoring them, you should find a way to deal with them.
1- Create a calm environment for trading.
2- Do not trade during emotional times (happy and sad).
3- Work with a demo account until you have fully mastered your strategy.
4- Trade with a minimum volume in a real account for several months so that your mind gets used to it.
5- Use the experiences and signals of successful traders along with trading.
6- Backtest successful trading patterns several times.
😀😁
1- Create a calm environment for trading.
2- Do not trade during emotional times (happy and sad).
3- Work with a demo account until you have fully mastered your strategy.
4- Trade with a minimum volume in a real account for several months so that your mind gets used to it.
5- Use the experiences and signals of successful traders along with trading.
6- Backtest successful trading patterns several times.
😀😁
Prílohy:
Together, we can unlock endless opportunities and achieve your desired results.
Členom od Nov 22, 2024
1 príspevkov
Nov 28, 2024 at 07:36
"Becoming emotionless in forex trading is about cultivating discipline and following a well-defined strategy. Focus on these steps:
1. **Stick to a Trading Plan**: Define your entry, exit, and risk management rules and follow them strictly.
2. **Use Risk Management**: Limit losses by setting stop-loss orders and only risking a small percentage of your capital per trade.
3. **Practice Mindset Training**: Use techniques like meditation or journaling to detach from emotional highs and lows.
4. **Learn from Demo Trading**: Practice on a demo account to build confidence in your strategy without emotional pressure.
It’s not about eliminating emotions but managing them effectively. What works best for you?"
1. **Stick to a Trading Plan**: Define your entry, exit, and risk management rules and follow them strictly.
2. **Use Risk Management**: Limit losses by setting stop-loss orders and only risking a small percentage of your capital per trade.
3. **Practice Mindset Training**: Use techniques like meditation or journaling to detach from emotional highs and lows.
4. **Learn from Demo Trading**: Practice on a demo account to build confidence in your strategy without emotional pressure.
It’s not about eliminating emotions but managing them effectively. What works best for you?"
Členom od Apr 18, 2022
55 príspevkov
Nov 29, 2024 at 08:03
Stick to a well-tested trading plan, manage risk, and focus on consistency over outcomes.
Členom od Oct 16, 2024
33 príspevkov
Dec 18, 2024 at 08:01
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
In trading, knowledge is power; in practice, patience is key.
Členom od Apr 18, 2020
55 príspevkov
Dec 18, 2024 at 08:19
It is very difficult to stay in emotionless, because we are complex in nature. Do suggest what are some way to control the emotion in forex
Členom od Oct 21, 2024
61 príspevkov
Dec 18, 2024 at 10:11
Ron_Smith posted:
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
Exactly! What strategy do you follow to stay emotionless as sometimes plan doesn't work?
Členom od Oct 16, 2024
26 príspevkov
Dec 18, 2024 at 10:39
Marat_invest posted:
more experience and more rest=)
Good piece of advice!
