Emotion in Fx

I think it is extremely important to leave emotions while you are trading as they affect your trades.

This is why you don't trade when you are working in your office. Trade at home.

It is very important to preserve the emotion while trading. Stay disciplined and try not to be overcome by the success or loss in trading.

mariaartenia posted:
This is why you don't trade when you are working in your office. Trade at home.

Maybe you are a part time trader; so this scenario is totally different to the full time trader! Hope you got my point!

It can be difficult controlling emotions, however to be a successful trader you need to find a way of doing this.

Accept that you can’t control the market and deal with it.

Skater posted:
I second that. EA is the easiest way to keep a cool head and made som pips

yes, especially while you are getting to grips with it all.

This is why I set and forget my trades. I usually put all my trades on by around 11am and then have the rest of the day working on something else. The only time I check is around big economic news times. Set sl and let the trades play out :)

Emotions are very difficult to control, it is a part of you. It is very easy for the newbie to let the emotions get them because they don't know what to do after making losses, so they could try to take revenge by trading again thinking that it will be for sure a win and the history repeats.

mlawson71 posted:
How do you propose for a trader to learn to control their emotional responses during trading?

Effective automation where feasible and reasonable.

Emotions are going to interfere in trading but one needs to learn how to handle it.

If you are in trading remember that you are going to lose money. This is going to happen, and it cannot be avoided in the long term no matter what you do. The best way to let emotions take over your strategy is to keep piling into new trades.

Gabriel99 posted:
Emotions are going to interfere in trading but one needs to learn how to handle it.

True. How do you suggest to cope with emotions occur while trading?

Betty_60 posted:

Gabriel99 posted:
Emotions are going to interfere in trading but one needs to learn how to handle it.

Emotions can really have a big impact on our trades. I usually try and maintain a journal while trading so that things remain sorted, plus I try not to overtrade. Any other suggestions on how one can handle emotions nicely?

That's right, maintaining a trading journal is a good idea!

Becoming a good trader takes time, you also need some very important mentality in your mind

Baazex posted:
If you are in trading remember that you are going to lose money. This is going to happen, and it cannot be avoided in the long term no matter what you do. The best way to let emotions take over your strategy is to keep piling into new trades.

Do you mean one should over trade?

That's very important cause you need to remain calm no matter what possible and absolutely. Cause if you will do some other actions it very negatively will reflect you anyway on many possible reasons entirely. I do want to please;)

Greed is one of the most common problem for new traders, they actually focus on their earning rather than learning! That’s too bad! Try to learn first, without learning- earring is totally impossible. So, keep concentrating on demo & practice.

Emotion is the most dangerous enemy for a trader in this forex market. If you can not control your emotions you can face a great loss.