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How to Become Emotionless

  • #201
  • Apr 13, 2018 11:46pm Apr 13, 2018 11:46pm
The only way to be fully emotionless is to use an EA and let it do the work. But like Ric said, do not use EAs that you dont know. Certainly dont buy any commercial EAs, the are all crap.
  • #202
  • Apr 14, 2018 9:38am Apr 14, 2018 9:38am
Quoting ASCap
The only way to be fully emotionless is to use an EA and let it do the work. But like Ric said, do not use EAs that you dont know. Certainly dont buy any commercial EAs, the are all crap.
I've used EAs and, to be honest, I got even more anxious watching them work when I traded by myself.
  • #203
  • Apr 14, 2018 11:41am Apr 14, 2018 11:41am
Quoting mlawson71
{quote} I've used EAs and, to be honest, I got even more anxious watching them work when I traded by myself.

Thats why I said do not rely on commercial EAs, you need to code it yourself. Thats the only way you can fully trust the EA. I would never trust anything that didnt know inside and out.
  • #204
  • Apr 16, 2018 9:04am Apr 16, 2018 9:04am
Quoting ASCap
{quote} Thats why I said do not rely on commercial EAs, you need to code it yourself. Thats the only way you can fully trust the EA. I would never trust anything that didnt know inside and out.
The EAs I used were free, not commercial. Coding one of my own sounds like a good idea, but I can't really code, unfortunately, and learning how to do that seems like a daunting task.
  • #205
  • Apr 16, 2018 9:55am Apr 16, 2018 9:55am
Free EAs are even worse, it means they were so bad that developer didnt even think to sell them

In any case, if you want to code an EA you first need a working manual strategy with exact rules. Once you have that you can start coding. Its a lot of work but if the strategy is good, the EA will do better than the manual trading because it will strictly follow the rules you set. Manual traders more often than not break their own rules and thats how they end up with blown accounts.
  • #206
  • Apr 18, 2018 1:49pm Apr 18, 2018 1:49pm
Quoting ASCap
Free EAs are even worse, it means they were so bad that developer didnt even think to sell them In any case, if you want to code an EA you first need a working manual strategy with exact rules. Once you have that you can start coding. Its a lot of work but if the strategy is good, the EA will do better than the manual trading because it will strictly follow the rules you set. Manual traders more often than not break their own rules and thats how they end up with blown accounts.
hahahaha well stated mate..exactly what i was also thinking
People like you are the reason we have middle fingers
  • #207
  • Apr 28, 2018 7:00pm Apr 28, 2018 7:00pm
Quoting ASCap
The only way to be fully emotionless is to use an EA and let it do the work. But like Ric said, do not use EAs that you dont know. Certainly dont buy any commercial EAs, the are all crap.
You are still able to turn the ea on or off right? which means you still have emotions there. As long you have something to risk, if you are able to make a decision, you still need to consider your emotions...
  • #208
  • Apr 29, 2018 4:02am Apr 29, 2018 4:02am
In my opinion this has always been and will always be the number one factor that determines success in the markets.

There are many fantastic books on the topic.
  • #209
  • Apr 30, 2018 4:36am Apr 30, 2018 4:36am
According to me, there is no real chance to become emotionless when trading in a real account, but in demo we can trade without at any emotions, actually it’s a psychology. We cannot control emotions completely but of course there is a chance to reduce emotions percentage by means of real trading discipline.
  • #210
  • Apr 30, 2018 7:09am Apr 30, 2018 7:09am
simple answer....become depressed.
  • #211
  • May 27, 2018 6:47am May 27, 2018 6:47am
Quoting shrips
simple answer....become depressed.
yes its simple answer to become depressed if you want to be emotionless. but its not a solution and still there is a problem
  • #212
  • May 29, 2018 10:39am May 29, 2018 10:39am
I've found that trading way below my limit makes me become emotionless.
For example, if I start getting emotions when trading with 1 lot, and account size $10,000.
I become emotionless to the trade if it is only 0.1 lot and account size is $1,000.
Unfortunately, traders by nature are mostly greedy in nature and would trade at their limits (and sometimes beyond their limits).
  • #213
  • May 30, 2018 7:39am May 30, 2018 7:39am
Quoting OceanPips
I've found that trading way below my limit makes me become emotionless. For example, if I start getting emotions when trading with 1 lot, and account size $10,000. I become emotionless to the trade if it is only 0.1 lot and account size is $1,000. Unfortunately, traders by nature are mostly greedy in nature and would trade at their limits (and sometimes beyond their limits).
That's natural, you're risking a lot less and you're not as worried.
  • #214
  • May 30, 2018 7:48am May 30, 2018 7:48am
Hi Guys,

I think praying and meditation are the best way to achieve and become emotionless.

I do both everyday whenever i think of.

It really works.

  • #215
  • May 30, 2018 8:40pm May 30, 2018 8:40pm
When we depend on emotions, sometimes we do wrong things for the wrong reason, like we buy a stock predicting that it will surely go up. Trading emotions are probably the most difficult thing to overcome as a trader.
  • #216
  • May 31, 2018 6:35am May 31, 2018 6:35am
Quoting Butterscotch
When we depend on emotions, sometimes we do wrong things for the wrong reason, like we buy a stock predicting that it will surely go up. Trading emotions are probably the most difficult thing to overcome as a trader.
Yes, it takes time to adjust. So, new traders need to play with small trading lots size and they should follow their trading plan so honestly.
  • #217
  • May 31, 2018 8:53am May 31, 2018 8:53am
Quoting ZikriIrfan
{quote} Yes, it takes time to adjust. So, new traders need to play with small trading lots size and they should follow their trading plan so honestly.
I agree, but a lot of new traders don't even know they need to have a trading plan and just trade randomly, which leads to losses.
  • #218
  • Jun 1, 2018 3:26pm Jun 1, 2018 3:26pm
Quoting mlawson71
{quote} I agree, but a lot of new traders don't even know they need to have a trading plan and just trade randomly, which leads to losses.
Yes, more than 90% new traders are losing their money; it’s very common! But, if they don’t learn from their trading mistakes that would be the main problem.
  • #219
  • Jun 2, 2018 1:19am Jun 2, 2018 1:19am
Quoting mlawson71
{quote} I've used EAs and, to be honest, I got even more anxious watching them work when I traded by myself.
In my humble opinion, the best way is to learn to let go and trust yourself. Once you set your trades, that's it. Move away from your computer if needed. You have your own personal life to live! Look at the beautiful sunset and sunrise, think about how fortunate you are, living in this world. There are more things in life than forex. Yes, we are all here to trade forex so that we are able to earn a side income. Don't let forex eat into your mental and physical health! Exercise, breathe and trust yourself for every trade you've made. Back-test extensively. Start a trading journal. Read more, practice more! Practice makes progress. Never strive for perfection as that will stop you from improving! Set a schedule and stick to it. You don't have to practice/look at your charts for 8 hours straight. 30 minutes a day will work wonders. Let me know what do you think!
  • #220
  • Jun 2, 2018 5:08am Jun 2, 2018 5:08am
Quoting mlawson71
{quote} I agree, but a lot of new traders don't even know they need to have a trading plan and just trade randomly, which leads to losses.

most of the traders above all the beginners always become loser due to lack of real trading plan and they don't know how to manage money when trading , so it is more appropriate to make sure real trading plan with real money managing approach.
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