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Trading Emotions

  • #1
  • First Post: Mar 14, 2020 1:40am Mar 14, 2020 1:40am
Do feel scared about entering or closing a particular position in market ?.
This is one of the downfall of most traders the tend to allow their emotons control them which leads to wrong decisions.
Does your emotion affects you while trading and how do you overcome it ????.
The success of a successful man is behind the success of a successful frien
  • #2
  • Mar 14, 2020 5:37pm Mar 14, 2020 5:37pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Quoting Slinge
Do feel scared about entering or closing a particular position in market ?. This is one of the downfall of most traders the tend to allow their emotons control them which leads to wrong decisions. Does your emotion affects you while trading and how do you overcome it ????.
Not as much I did a few months ago. That's what I've been focusing on, and reading through a lot of the threads here have really helped. Before, I would have closed a position when I was down 10-30 pips, now I tell myself to relax and evaluate. I have still lost, obviously, but I have won more trades since focusing on this skill, and have been able to limit (what would have previously been) and bigger loss.
School of hard knocks
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  • #3
  • Mar 14, 2020 7:24pm Mar 14, 2020 7:24pm
Quoting dmj120
{quote} Not as much I did a few months ago. That's what I've been focusing on, and reading through a lot of the threads here have really helped. Before, I would have closed a position when I was down 10-30 pips, now I tell myself to relax and evaluate. I have still lost, obviously, but I have won more trades since focusing on this skill, and have been able to limit (what would have previously been) and bigger loss.
That's cool
The success of a successful man is behind the success of a successful frien
  • #4
  • Mar 15, 2020 7:36pm Mar 15, 2020 7:36pm
I recently finished reading the ebook "Trading in the Zone" by Mark Douglas. He goes into very good detail on developing a Trader's Mindset. I have found the concepts and techniques very helpful. Basically he's says trading with emotions will prevent you from being successful at trading. You must be indifferent to the outcome of the trade and know that successful trading is all about increasing the probabilities of a trade in your favor, just like a casinos do.
  • #5
  • Mar 16, 2020 11:24am Mar 16, 2020 11:24am
I advice traders to have a gamblers mindset inother to be successful
The success of a successful man is behind the success of a successful frien
  • #6
  • Mar 17, 2020 12:28pm Mar 17, 2020 12:28pm
Why a gambler's mindset? Isn't that the opposite of what traders want to do?
  • #7
  • Edited 2:06am Mar 27, 2020 1:47am | Edited 2:06am
I keep it practical when i trade, and when ever i trade there is a plan and the only emotion i have at the moment is confidence.

Trade with confidence and do not feel discouraged if its a loss.
  • #8
  • Mar 28, 2020 1:41pm Mar 28, 2020 1:41pm
once one know the set ups work in a long run, thats the thing to lean on.
Once the check boxes are ticked, trying to be mechanical is a good goal.
Emotions will always be there, but staying in control of them is paramount.
making money in JimB2468 trading room
  • #9
  • Mar 29, 2020 5:42am Mar 29, 2020 5:42am
Quoting patient pip
once one know the set ups work in a long run, thats the thing to lean on. Once the check boxes are ticked, trying to be mechanical is a good goal. Emotions will always be there, but staying in control of them is paramount.
100% agree with this, emotions only come into play when you are unsure.. if you are confident in your setup then emotions ease up quite a bit
  • #10
  • Mar 29, 2020 2:20pm Mar 29, 2020 2:20pm
thats one of the struggles of trading forex with real money, there is not escaping it actually. one just have to push through it, after years it becomes normal, but still I can still feel a pinch with every losing trade i make at hotforex, i just force my self to forget and move on, just like any other break up. lol
  • #11
  • Mar 30, 2020 7:36am Mar 30, 2020 7:36am
Quoting nate009
{quote} 100% agree with this, emotions only come into play when you are unsure.. if you are confident in your setup then emotions ease up quite a bit
Nobody can eliminate emotions, it's only up to a trader how he deals with it.
  • #12
  • Apr 1, 2020 10:03am Apr 1, 2020 10:03am
I agree. Trying to do so ends up doing more harm than good because those pent up emotions will come out in the least appropriate moment.
  • #13
  • Apr 2, 2020 1:03pm Apr 2, 2020 1:03pm
Quoting Teotrader
{quote} Nobody can eliminate emotions, it's only up to a trader how he deals with it.
We can minimize the risks i guess you are right to very extent. A proper trade management plan can be helpful as it enables us to exit the market either if the target is hit or loss occurred on that specific date. Better not to trade on that date and it will be good if we review our trade plan for any necessary amendments.
  • #14
  • Apr 4, 2020 10:55am Apr 4, 2020 10:55am
True. If you trade without a plan you may as well be gambling, in my opinion.
  • #15
  • Apr 7, 2020 9:39am Apr 7, 2020 9:39am
If you realize and accept that:

1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique
Mark Douglas - Trading in the Zone

You'll will be on your way to less emotional trading. It will still be difficult but if you let go of the need to be right in the market you'll be surprised by how much better your mindset becomes.
  • #16
  • Apr 8, 2020 1:41am Apr 8, 2020 1:41am
Quoting mlawson71
True. If you trade without a plan you may as well be gambling, in my opinion.
Well said. Trading plan is really important to keep you disciplined i believe.
  • #17
  • Apr 8, 2020 11:39am Apr 8, 2020 11:39am
Quoting dany2019
{quote} Well said. Trading plan is really important to keep you disciplined i believe.
To keep you disciplined and organized and last but not least - calm. When you know what to do you don't get anxious.
  • #18
  • Apr 9, 2020 9:46am Apr 9, 2020 9:46am
You set a stop loss and a take profit. You've then got to walk away. Don't micromanage. It's like watching paint dry but much more painful! Trust your system, place the limits and check in on a schedule, not on a whim. You'll feel better and trade better too!
  • #19
  • Apr 20, 2020 1:38pm Apr 20, 2020 1:38pm
Hey! It's very important not to be emotional in a broker's business. Usually, emotions don't just interfere with you, but also distract you from what's really important. For my friend, Carnegie's book "How to Stop Worrying and Start Living" was literally saving. In the book he writes that excitement and fear usually do not lead to anything good, only spoil your nervous system and can also compromise your immunity. Of course, in your work you should not be a cold-blooded machine, but the fact that you feel scared about entering or closing a particular position in the market will not help you to make successful deals. It's normal to listen to yourself and your intuition. But a lot of people let it become a bad broker, which is a big problem.
  • #20
  • Apr 20, 2020 2:46pm Apr 20, 2020 2:46pm
Whenever you feel FEAR or any kind of negative emotions its because 3 things (1 or all of them)

1.- You have NO idea what you are doing right from the start (or worst, you "think" you know but its NOT true lol), therefore you are not sure if it makes sense the trade you placed and the result its totally random/unexpected.. specially if you lose

2.- You are risking money you can not afford to lose! and im not talking "risk only 0.00000001%" money, im talking about whatever you have in your account its TOO MUCH too lose in the first place, it WILL impact hard on you if you lose a single penny

3.- You are a emotionally WEAK human with a broken/chicken mindset that EVEN WHEN everything its perfect, you STILL are full of doubts and negative emotions.. and EVEN IF YOU WIN a good amount of money,it doesnt make a positive difference on you, unlike losing a single dollar.. that lost destroy your state whole life and you feel all kind of bad shitty "feelings"


Cold hard truth...
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