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How to Become Emotionless

  • #221
  • Jun 2, 2018 9:52am Jun 2, 2018 9:52am
Quoting AdamCrist
{quote} 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.
I agree. Have you managed to develop a trading plan of your own? I admit that I have one but it's not very detailed.
  • #222
  • Jun 4, 2018 7:32am Jun 4, 2018 7:32am
now i am trying to be skilled on price action , even though it is hard than others but um trying. any price action trader there is who is already successful ?
  • #223
  • Jun 4, 2018 3:59pm Jun 4, 2018 3:59pm
Quoting mlawson71
{quote} I agree. Have you managed to develop a trading plan of your own? I admit that I have one but it's not very detailed.
I think each trader has to figure out their sweet spot on how much planning it needs and how strict you want to be. Some traders are better with a soft structure and other with a very strict approach.

I think it's Denise Shull that describes your approach to trading is the same as how you approach authority figures in your life.
If you had a strict childhood and you have been very anti-strict (a bunch of conflict with parents etc. in your early life) from a logical standpoint it would make sense not to be as structured in your trading plan, because subconsciously you will try and go against the plan, which would create even more internal/mental struggle.

However, if you had a strict upbringing, and you were doing great in that environment, a strict approach to trading might not be a bad idea. Just like most things in life, it's not that black and white and each trader needs to figure this out by trail and error.
  • #224
  • Jun 5, 2018 8:42am Jun 5, 2018 8:42am
Quoting Grabowski
{quote} I think each trader has to figure out their sweet spot on how much planning it needs and how strict you want to be. Some traders are better with a soft structure and other with a very strict approach. I think it's Denise Shull that describes your approach to trading is the same as how you approach authority figures in your life. If you had a strict childhood and you have been very anti-strict (a bunch of conflict with parents etc. in your early life) from a logical standpoint it would make sense not to be as structured in your trading plan,...
Those are excellent points! I agree, people are different and require different approaches to succeed. I do think that having a trading plan is always a good idea, because it provides a net to fall back on when you have no idea what to do, but how strict that plan is truly depends on the individual and their needs.
  • #225
  • Jun 6, 2018 6:11am Jun 6, 2018 6:11am
Quoting mlawson71
{quote} Those are excellent points! I agree, people are different and require different approaches to succeed. I do think that having a trading plan is always a good idea, because it provides a net to fall back on when you have no idea what to do, but how strict that plan is truly depends on the individual and their needs.
exactly ,having a good trading plan first and foremost element to bring success in here , but besides good plan it is more appropriate to ensure real money management , otherwise maximal result will not come out.
  • #226
  • Aug 8, 2018 6:50am Aug 8, 2018 6:50am
Quoting NathanAstel
{quote} exactly ,having a good trading plan first and foremost element to bring success in here , but besides good plan it is more appropriate to ensure real money management , otherwise maximal result will not come out.
Very true. A well constructed trading plan provides structure and direction to our trades. And money management is just as important in forex as it is in life in general. You need to have a definite plan with respect to where you want to invest your money, how you want to invest it and when you want to take it out. I believe this is essential not just in forex but a very important life skill as well that everyone should learn, whether they are in forex business or not. Good money management is the hallmark of an intelligent person.
  • #227
  • Aug 8, 2018 9:02am Aug 8, 2018 9:02am
Quoting Drew-pips1
{quote} Very true. A well constructed trading plan provides structure and direction to our trades. And money management is just as important in forex as it is in life in general. You need to have a definite plan with respect to where you want to invest your money, how you want to invest it and when you want to take it out. I believe this is essential not just in forex but a very important life skill as well that everyone should learn, whether they are in forex business or not. Good money management is the hallmark of an intelligent person.
Having a trading plan is great and does add consistency in your trading which is a vital part of trading. However, "plan the trade, trade the plan" doesn't prevent you from having emotions when facing uncertainty. If just following a trading plan was so easy, more retail traders would be profitable.
  • #228
  • Aug 8, 2018 9:24am Aug 8, 2018 9:24am
Quoting NathanAstel
{quote} exactly ,having a good trading plan first and foremost element to bring success in here , but besides good plan it is more appropriate to ensure real money management , otherwise maximal result will not come out.
That's putting it mildly, trading randomly, without any plan, is little better than gambling, I think.
  • #229
  • Aug 8, 2018 1:52pm Aug 8, 2018 1:52pm
Most people believe they have a good plan, but their plan doesn't coincide with the dynamics of the market. We see Ata and his EURUSD only thread, which not only has many followers but most importantly Ata has a trading idea. The problem is his trading ideas deal with trendlines, which automatically puts you at a disadvantage because trendline traders trade with a bias. Ata went as far to state, " I never trade the 5m because it has to much noise, etc. " Well clearly he is using an excuse to deflecting from the fact that he has 0 confidence in his ability to trade that tf. Remember the lower tf creates what we see on the higher ones. All in all, out systems are built on emotions because we say things like, "i believe, i think, or the market can't do or must do." Find a person who doesnt use those words and you will find yourself the emotionless trader.
Judge me based on % return
  • #230
  • Aug 8, 2018 2:06pm Aug 8, 2018 2:06pm
Quoting FookMe
Find a person who doesnt use those words and you will find yourself the emotionless trader.
You cannot trade/make decisions without emotions. This has been proven over and over again by science.
  • #231
  • Aug 8, 2018 5:19pm Aug 8, 2018 5:19pm
Quoting Grabowski
{quote} You cannot trade/make decisions without emotions. This has been proven over and over again by science.
Science says the Earth is a spinning globe. We know that to be false.
Judge me based on % return
  • #232
  • Aug 9, 2018 12:59am Aug 9, 2018 12:59am
The only way to become emotionless is to master the art of trading an becoming profitable which will lead to you having more trust and faith in your system hence ensuring your brains are at peace when you are involved in any trading activity
What Goes Around Comes Around
  • #233
  • Aug 9, 2018 9:11am Aug 9, 2018 9:11am
Quoting OneReversion
The only way to become emotionless is to master the art of trading an becoming profitable which will lead to you having more trust and faith in your system hence ensuring your brains are at peace when you are involved in any trading activity
From all the interviews I've read over the years of really good and profitable traders, one of the takeaways is that they still feel uncomfortable and dealing with emotions. Because just like the rest of us, they make decisions in an uncertain environment. Obviously, with time and experience, the emotions become less energized, but they are still there.
  • #234
  • Aug 9, 2018 9:15am Aug 9, 2018 9:15am
Quoting FookMe
{quote} Science says the Earth is a spinning globe. We know that to be false.
I'll recommend you have a look at the book called Market Mind Games by Denise Shull or go visit their website https://therethinkgroup.net/
  • #235
  • Aug 11, 2018 3:15am Aug 11, 2018 3:15am
One of the most interesting trading arguments am always interested in...being emotional or not is not a fixed or constant state of mind of every trader...emotions are psychological states deployed by ones mental psyche to try handle issues at hand.....example when we all kinds we have basically no fears...but we later develop fears as a results of the outcomes of the experiences we have been through and wether we were comfortable or not with those situations and wether we would every want to be involved in such situations in the future...the brain then creates an emotional attachment or detachment to situations based upon our perceptions,beliefs and experiences....my point is being emotional or emotionless is not a thing to debate about since it all depends on the traders psychological makeup which is a buildup of all his experiences....
''If its BULLSHIT when automated trading it manually is STUPIDITY''
  • #236
  • Aug 11, 2018 5:27pm Aug 11, 2018 5:27pm
Fact. We are humans. We get emotional. If we lose, we feel bad. If we win, we feel good. If we are showing an unrealised gain, we are anxious that we might give it back, and are tempted to close out early. If we are showing an unrealised loss, we are tempted to hold on in "hope" that the trade will turn around. Instead of trying to eliminate emotions, we just need to accept them and plan around them. It's simpler than you might think.

Know your strategy. Thorough backtesting and forward testing will give you all the information you need to manage emotions. The win/lose and risk/reward ratio are two key bits of information I use to plan my money strategy, which in turn keeps my emotions in check. The results for my personal strategy show a 60/40 win/lose ratio, and an average 1:1.25 risk/reward ratio. My risk/reward can range from 1:1 up to 1:2.5, dependent on the final profit target achieved for a particular position.

Based on these figures I know that over 100 trades I will win 60 trades for a 1:1.25 risk/reward, and lose 40 trades at 1:1 risk/reward, for an outcome that adds 35% to my capital. In addition, I know that I will lose 40 trades in total, and can absorb this in the stop-loss used. Hence, a 2.5% stop-loss will allow me to absorb 40 losing trades in a row before account funds are blown. So when I enter a trade my mindset tells me that even if this trade does not work out, overall I can't lose...my historical strategy results support this mindset. This is a numbers game, not a mind game!

If you want to control emotion, know your strategy!
  • #237
  • Aug 12, 2018 6:04am Aug 12, 2018 6:04am
Quoting Qu|cksilver
How to Become Emotionless Becoming emotionless can be a very useful tactic to deal with problems that might be better handled with less heart and more brain. The following is a list of steps to take in order to remove the heart from the situation, and start using your head. Steps Meditate. This is one of the better tools to become emotionless. There several are different types of meditation, including Vipassana and Huna, that you can investigate to see which one is right for you. Even the most...

Those who can do , those who can't teach others......"how to become emotionless". They are only emotionless when they are dead.

What I learn " go become dead"You are emotionless now.
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  • #238
  • Aug 12, 2018 7:08am Aug 12, 2018 7:08am
Quoting loozers
{quote} Those who can do , those who can't teach others......"how to become emotionless". They are only emotionless when they are dead. What I learn " go become dead"You are emotionless now. {image} {image} {image} {image} {image} {image}
On your picture; 17 number point is missing; can you help me out? Thanks in advance.
  • #239
  • Aug 12, 2018 12:00pm Aug 12, 2018 12:00pm
Quoting ZikriIrfan
{quote} On your picture; 17 number point is missing; can you help me out? Thanks in advance.

If you become emotionless , you will see it , emotions are clouding your view.
  • #240
  • Aug 12, 2018 1:44pm Aug 12, 2018 1:44pm
Quoting loozers
{quote} If you become emotionless , you will see it , emotions are clouding your view.
If you are in a trade and something feels uncomfortable fx holding a trade longer when in profit, use it as an indication that you are now doing something 95% aren't doing.
I believe that emotions are the best indicator in the markets. Observe them for what they are, but don't act on them. Just my 2 cents..
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