Thanks for the reply but I certainly don't agree that someone can control an emotion. Emotion is not something that a human can control. Emotions is what makes us human and you cannot control it. Instead, you need to be aware that you have such emotion during the trading but never allow it to affect your trading decision.
LukeRachel posted: Over-trading is a very harmful emotion. If you trade over, you are more likely to lose. And managing risk here is a little tricky.
Ah yes there’s literally no end to the damage done because of overtrading, one of them being opening too many positions. Often traders believe to hit the jackpot of some of the trades while as a matter of fact, most of the trades will end up in losses.
Anoxiare posted: What’s the money management plan gonna do when you have tons of open positions taking money out of your P&L?
That’s the reason I always keep my number of open trades with turnkeyforex at a level where I can manage in case things go haywire. I have learnt from my previous experience with IG how opening too many positions can be such a baaad idea!
UweMoench posted: Over-trading is a very harmful element. I have lost the investment of many of my accounts by overtaking. So I understand that overtrading can cause a lot of problems in psychology. Overtrading can ruin a trading career. The market is open 24 hours but not always traded in the market. Now if you are trading in this situation, you are not eligible to trade. If you do not give up overtrading, you will never see success in trading.
Every trader should know that consistent trading is not good. Trade when it is necessary when the market is not volatile. Trading for 24hrs straight can lead to stress and affect the following trades that can be converted into easy profits.
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