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How to Become Emotionless

  • #81
  • Oct 5, 2016 7:02am Oct 5, 2016 7:02am
Quoting mlawson71
I have been wondering - is there anyone here who can genuinely claim that they're truly emotionless when they trade?
Noooway!
People just have to calm down to free space for pure logic. I don't consider being emotionless a good way to trade. In this case trading would become something like computer algorithm. So, using a robot would be the same.
People's thinking is based on emotions (every psychologist would say so) and there can't be ingenius trades without them. It's a part of us. One of the most important parts.
  • #82
  • Oct 5, 2016 3:06pm Oct 5, 2016 3:06pm
thats also the reason why demo accounts not work (on emotional aspects) .. because if you blow them up ... it does not hurt!
  • #83
  • Oct 6, 2016 4:30am Oct 6, 2016 4:30am
Quoting alextrader79
{quote} Noooway! People just have to calm down to free space for pure logic. I don't consider being emotionless a good way to trade. In this case trading would become something like computer algorithm. So, using a robot would be the same. People's thinking is based on emotions (every psychologist would say so) and there can't be ingenius trades without them. It's a part of us. One of the most important parts.
I have always thought that having a healthy (and I stress on healthy) dose of fear when one's trading is actually a good thing, because it keeps a person cautious and careful. The fear turns into a problem when the trader lets it dictate their decisions, which is a different thing from just being careful.
  • #84
  • Oct 7, 2016 3:04am Oct 7, 2016 3:04am
Quoting mlawson71
{quote} I have always thought that having a healthy (and I stress on healthy) dose of fear when one's trading is actually a good thing, because it keeps a person cautious and careful. The fear turns into a problem when the trader lets it dictate their decisions, which is a different thing from just being careful.
That's right, if there wasn't any emotions we would act like computers and were not careful.
and when you win... Hah, I don't think that a little joy of victory is a very bad thing.
  • #85
  • Oct 7, 2016 5:25am Oct 7, 2016 5:25am
Last night's GBP drama is a good illustration why a healthy dose of fear is necessary sometimes. I don't like trading during the night, so I had closed all my positions. I don't want to think what my account would've looked like this morning if I hadn't done that.
  • #86
  • Oct 7, 2016 7:49am Oct 7, 2016 7:49am
When trading Forex, it is very important to Control your emotions and also to set goals. They would always provide a trader direction and discipline, which in turn leads to success. From what I have observed, without direction and discipline, you will have no goals and your trading techniques are not too likely to improve and you don't want that.
  • #87
  • Oct 7, 2016 12:07pm Oct 7, 2016 12:07pm
When it comes, to trading, it is very easy to become emotionless; and that's accomplished by only placing trades based solely on the facts of research, historical, technical and/or mechanical data. In other words, you place your trades based only on all the criteria of what ever trading plan you developed or follow being met not what you think, guess, hope, wish or feel at the time of placing that trade.

For example... if you wanna make an apple pie and you know that the ingredients needed to make that apple pie are apples, flour, milk, cinnamon, vanilla flavored extract and brown sugar... about 1-2hrs to bake... and done... You have yourself one delicious apple pie. However, is it really any surprise, that your pie is crap if you didn't use all the required ingredients and waited the time it takes to cook that pie correctly? It shouldn't be.

Well, the same rules applies to trading... if you don't develop a trading plan with a set of rules to use before placing a trade, which would be strategizing, you aren't trading... you are gambling. Of course, you're not gonna be profitable if you're not doing this simple thing. It's just simple mathemetics. 1 (70%-90% successful trading plan) +1 (100% trade placements) =2 (profitable trades) or 1+1=2. It's not 0 trading plan + 1 (100% placing trades) = 2 (profitable trades) or 0+1=2 ....

Now, if you are checking off and following each and every one of your rules as they are met... and place your trades based only on them being met... is that or is that not trading emotionless? I believe it is.
FTPL
  • #88
  • Oct 7, 2016 5:17pm Oct 7, 2016 5:17pm
Well, just my opinion, but I don't think its a good idea to be completely emotionless. I think its actually good if you have a bad trade to sting a little, so you can step back and reflect on what you did wrong (if anything) and make better decisions in the future.
  • #89
  • Oct 7, 2016 8:55pm Oct 7, 2016 8:55pm
I don't know what these retards have said but I would just read what I say and move on. You won't become emotionless. The key is to accept that fact and realize that trading is ALWAYS uncomfortable. The End. Do this and you're miles ahead of 98% of their forum.
  • #90
  • Oct 8, 2016 12:08am Oct 8, 2016 12:08am
Quoting jiggz
hahahaha well being a psychopath it a bit exaggerated but, its not really about being emotionless, its still gonna be there, but yeah, keep your self in check, its about having the right mind set when trading, we all know when we commit mistakes, thats a good reminder of things to avoid, hold on to that sad feeling when we make stupid mistakes as a reminder to avoid it in the future, another thing, is being logical, the right RR ratio comes in to play, be ready for a lose just incase it would be easier to let go of it, never play the angry loser...
D0 you currently using Hotforex or another broker
Failure is not failure if you learn from it...
  • #91
  • Oct 8, 2016 6:28am Oct 8, 2016 6:28am
Quoting Becel
Well, just my opinion, but I don't think its a good idea to be completely emotionless. I think its actually good if you have a bad trade to sting a little, so you can step back and reflect on what you did wrong (if anything) and make better decisions in the future.
That was my point as well - complete lack of emotion is neither possible, nor particularly desireable. Fear can be helpful, unless one allows it to take control over them.
  • #92
  • Oct 8, 2016 7:55am Oct 8, 2016 7:55am
If in anyway does this help you,please let me know.
The brain is a muscle,if it is a muscle then we can exercise it.
I have been using meditation to reduce stress and improve concentration.
It does wonders for my trading and i have been using it twice a week for about 2 years.
I'm not advertising any product,but this company has great reviews so i decided to give it a try.
And all i can say is: i never regret for this decision. Their sessions are effective and their product is cheap among the others.

https://www.transparentcorp.com/products/np/
"When combined with the right neural stimulation, these techniques can bypass mental and emotional barriers that would normally make the mind resistant to change, making it much more likely that affirmations or suggestions will be effective. This is what we call self-programming, and using it can allow you to you control your own mind and life in a unique and powerful way."

PS: You can try their product for 2 weeks trial.
Work smarter,not harder
  • #93
  • Oct 10, 2016 12:44am Oct 10, 2016 12:44am
It helps me to have shifted my types of emotions and reduced their intensity, but they are still all going to be there and they also can be all in conflict. So it becomes "management" of them, for me....
big money makes big moves and then hides during small money chasing.
  • #94
  • Oct 10, 2016 4:01am Oct 10, 2016 4:01am
Quoting corrman
It helps me to have shifted my types of emotions and reduced their intensity, but they are still all going to be there and they also can be all in conflict. So it becomes "management" of them, for me....
Shifted what emotions into what emotions? And how do you achieve that?
  • #95
  • Oct 10, 2016 7:59am Oct 10, 2016 7:59am
first step is awareness of the feelings by journaling them on awakening and increasing my sensitivity to them, not only regarding trading but other times also. Determining what the baseline of my emo is/was and why and how/why they get amplified, triggered, reduced, shifted, and especially, sublimated. They also trigger habitual behavior in me and caused me to act and convinced me I was correctly motivated even if I was not trading within the parameters of my trading plan, very tricky stuff. Essentially, I had to develop emotional intelligence, which is severely lacking in so many people, sadly....
big money makes big moves and then hides during small money chasing.
  • #96
  • Oct 10, 2016 8:35am Oct 10, 2016 8:35am
Quoting jiggz
hahahaha well being a psychopath it a bit exaggerated but, its not really about being emotionless, its still gonna be there, but yeah, keep your self in check, its about having the right mind set when trading, we all know when we commit mistakes, thats a good reminder of things to avoid, hold on to that sad feeling when we make stupid mistakes as a reminder to avoid it in the future, another thing, is being logical, the right RR ratio comes in to play, be ready for a lose just incase it would be easier to let go of it, never play the angry loser...
Yeah there is one important rule traders should follow: Hope for better but get ready for worst. If you can take psychologically in advance that you can lose all it is much easier to place trades, accept losses and keep profiting trades.
Good luck
  • #97
  • Oct 10, 2016 11:06am Oct 10, 2016 11:06am
If only that were possible.
In all seriousness though, the best thing that could help me is learning self-discipline
  • #98
  • Oct 10, 2016 11:35am Oct 10, 2016 11:35am
Quoting gabanda
If only that were possible. In all seriousness though, the best thing that could help me is learning self-discipline
And you can do that..
If you meditate once a day everyday,you are already following a plan,you are discipline yourself even in those days that you're not in mood for meditation. 
Work smarter,not harder
  • #99
  • Oct 10, 2016 2:17pm Oct 10, 2016 2:17pm
Quoting marcof91
{quote} And you can do that.. If you meditate once a day everyday,you are already following a plan,you are discipline yourself even in those days that you're not in mood for meditation. 
Wish there was a like button so I could use it . Being a psychologist myself I see the psychological factor being overrated in the wrong setups...for example being used as scapegoat for systems or methods with no edge or with a lack of logic underneath...nevertheless emotional intelligence - what people used to call in the past as discipline - plays a very significant part in reasoning and decision making... and that is "trainable" even to a point where becomes automated (i. e, with no effort for the thinker).

Regards
  • #100
  • Oct 10, 2016 6:04pm Oct 10, 2016 6:04pm
Sun Tzu said it best

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
Dragon Rider
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