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What's your negative emotion that you're most prone to when trading?

  • #21
  • Apr 6, 2007 9:37pm Apr 6, 2007 9:37pm
Fear here.....

After drawing down during a long string of losers....

You think "I could lose this many more times again without a win."

10% aren't human? lol I would hardly say that people who clicked "no emotion" are the successful ones....
Quoting Traex
Only 10% of voters voted this, does it represent ~10% consistent traders among the others
  • #22
  • Apr 6, 2007 9:42pm Apr 6, 2007 9:42pm
Quoting Traex
Alright, so far results show that Fear is indeed traders' worst enemy, followed by Impatience (great 'Frog Song' there, imbiber! ).
This is the interesting part:
No emotion http://www.forexfactory.com/images/polls/bar5-l.gifhttp://www.forexfactory.com/images/polls/bar5.gifhttp://www.forexfactory.com/images/polls/bar5-r.gif 6 10.53%
Only 10% of voters voted this, does it represent ~10% consistent traders among the others (90% that are still struggling)? Sample size isn't large enough tho.

PS Good post there, bravado.
1) Optimism.
2) Hope
3) Fear
4) Panic

These symptoms are not limited to any individuual and are common in the market at all levels.
Recognizing them will improve your status. Acting on them will improve your lifestyle.
  • #23
  • Apr 6, 2007 10:34pm Apr 6, 2007 10:34pm
Quoting Traex
PS Good post there, bravado.
thanks there, captain obvious.
BAM BAM BOOM! -bravado
  • #24
  • Apr 7, 2007 6:28am Apr 7, 2007 6:28am
Impatience, for sure.

If I could bring myself down to remain totally sidelined until a perfect-scenario pops up (you know, those that scream "take me, take me, take meeee!!!"), I would be doing much much better. It's the "urge" to trade that makes us enter in the less-than-optimum trades, and those are precisely the ones driving our win/loss ratio down.
  • #25
  • Apr 7, 2007 6:53am Apr 7, 2007 6:53am
Quoting Traex
This is the interesting part:
No emotion http://www.forexfactory.com/images/polls/bar5-l.gifhttp://www.forexfactory.com/images/polls/bar5.gifhttp://www.forexfactory.com/images/polls/bar5-r.gif 6 10.53%
Only 10% of voters voted this, does it represent ~10% consistent traders among the others (90% that are still struggling)?
I would be willing to bet that this 10% is either lying or simply do not understand the question.

Even after achieveing a measure of success and consistent results, the negative emotions will still present themselves from time to time. There is a very big difference between experiencing emotion and allowing it to impact your trading results. That difference is in how they are dealt with.
  • #26
  • Apr 7, 2007 10:15am Apr 7, 2007 10:15am
I have to agree. I'm a lot less emotional than I was back in the day.
But every once in a while some of those negative emotions creep up whether it be Anger or Fear etc.

The difference is now I deal with them. They won't affect how I trade.

I believe even the most experienced and successful traders have the occassional negative emotion surface. But it's how they handle them that separates them from other traders.

Quoting Darkstar
I would be willing to bet that this 10% is either lying or simply do not understand the question.

Even after achieveing a measure of success and consistent results, the negative emotions will still present themselves from time to time. There is a very big difference between experiencing emotion and allowing it to impact your trading results. That difference is in how they are dealt with.
  • #27
  • Last Post: Apr 7, 2007 11:07am Apr 7, 2007 11:07am
My Opinion:

All traders will experience negative emotions irregardless of level of experience. I think what separates the successful traders from the not-so-successful is their ability to recognize this influence, and deal with it accordingly. Recognizing these emotions and, more importantly, dealing with them, should be a part of every trader's trading plan.

Personally, I just bought a small cue-card file index box, and am in the process of putting each trading system I am using on it's own card. There will be steps to follow, one of which will be 'What is my mental state?' (no peanut gallery answers here please ) as well as all of the rules for the given system - S/L, T/P, etc - basically a template. While this will slow down my entry into a given position, I really don't think the majority of us here should be using a system where a few pips here & there will really matter (scalping for instance).

Again, just my 2c ..

D.
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