How to become emotionless in forex?

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.

Pursuing automation, if possible, will also eliminate the vast majority of 'psychological' hurdles that people will experience during trading.

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.

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.

You become emotionless when you treat it as a business instead of wins and losses.

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.

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.