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How to better control our emotions?

  • #81
  • Feb 8, 2017 12:55am Feb 8, 2017 12:55am
Quoting mlawson71
{quote} To be honest, losses always hurt me emotionally at the very least. Even if the financial loss doesnt hurt (and it often does), the injured pride hurts.
losses in running a business is very painful, with the losses we have to do in evaluating to be better able to learn the mistakes that we have done so that it does not reoccur. or we also need to do in the way of learning in advance in preparation for a trading account
  • #82
  • Feb 8, 2017 5:52am Feb 8, 2017 5:52am
I think 90% of beginner's is facing with problems when they move from demo to live-account. It is naturally. You must understand that there are no traders without losses. You should be calm and logical. And never use a large deposit in the beginning.
  • #83
  • Feb 8, 2017 6:58am Feb 8, 2017 6:58am
Quoting gabanda
{quote} losses in running a business is very painful, with the losses we have to do in evaluating to be better able to learn the mistakes that we have done so that it does not reoccur. or we also need to do in the way of learning in advance in preparation for a trading account
No matter how much I re-evaluate there are still losses. I think the aim is more to minimize them than to eliminate them altogether.
  • #84
  • Feb 12, 2017 10:10pm Feb 12, 2017 10:10pm
Quoting mlawson71
{quote} No matter how much I re-evaluate there are still losses. I think the aim is more to minimize them than to eliminate them altogether.
the loss has occurred it would be better to be with an evaluation to be more easily in the running of trading for the better, because it has learned from the mistakes made will be different again in the running of trading were able to able to bring in profits
  • #85
  • Feb 17, 2017 3:34am Feb 17, 2017 3:34am
Controlling emotions itself is a full subject that every trader need to get good hands on.. However, I think we can easily handle our emotions by sticking to a proper trade management plan while trading and once the desired goal is achieved we should not greed for more.
  • #86
  • Feb 17, 2017 6:35am Feb 17, 2017 6:35am
Quoting jollypk
Controlling emotions itself is a full subject that every trader need to get good hands on.. However, I think we can easily handle our emotions by sticking to a proper trade management plan while trading and once the desired goal is achieved we should not greed for more.
I don’t think that even with a trade management plan dealing with one’s emotions is that easy. It should be, but emotions aren’t rational, unfortunately.
  • #87
  • Feb 17, 2017 6:38am Feb 17, 2017 6:38am
Quoting mlawson71
{quote} I dont think that even with a trade management plan dealing with ones emotions is that easy. It should be, but emotions arent rational, unfortunately.
Same case to me..
Let Market Tell You
  • #88
  • Feb 17, 2017 7:28am Feb 17, 2017 7:28am
Retail traders are taught that it's ok to lose in order to win.
and they are taught well ... they lose. (:
  • #89
  • Feb 17, 2017 7:38am Feb 17, 2017 7:38am
Enter trade only after proper top-down technical analysis and be influenced by at least by the direction of the immediate higher time frame to your entry time frame. If you want to last long in this business and succeed be patient with price action, let the market come to you - at the level you are watching and meeting the conditions you look for before you trigger your trade. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #90
  • Feb 18, 2017 5:33am Feb 18, 2017 5:33am
Quoting Mingary
Retail traders are taught that it's ok to lose in order to win. and they are taught well ... they lose. (:
What do you mean, lose in order to win? I am not sure I fully understand that.
  • #91
  • Feb 18, 2017 6:21am Feb 18, 2017 6:21am
Well, if you write down a plan/strategy and agree with yourself to stick to it.. It can help to keep emotions under control. Make an agreement with yourself and hold on to it.
  • #92
  • Feb 19, 2017 6:49am Feb 19, 2017 6:49am
Quoting scalprobot
Well, if you write down a plan/strategy and agree with yourself to stick to it.. It can help to keep emotions under control. Make an agreement with yourself and hold on to it.
Sometimes it can help. Creating a routine generally helps, because when you have a trading routine you know what to do, and a large part of the anxiety comes from the fear of the unknown.
  • #93
  • Feb 19, 2017 6:52am Feb 19, 2017 6:52am
Quoting mlawson71
{quote} What do you mean, lose in order to win? I am not sure I fully understand that.
It's one of the tenets and axiom of "proper trading"
  • #94
  • Feb 19, 2017 7:36am Feb 19, 2017 7:36am
Quoting Mingary
{quote} It's one of the tenets and axiom of "proper trading"
To control emotions you have to not care, and focus on the process. The only way to do that is to trade a "not care" size. If you actually have a method that is profitable you will get tired of making pennies and scale up.

This is why I tell people that I have a 5 figure account, and I trade nickels. Now next week I am going to get bold and start maxing out 100 dollar accounts, one at a time. That is about 50 cents a pip. I have decided to take in account something Mark Fisher said when managing his traders. He would take a small portion of his fund and give it his traders. Traders do not always have good months, a good month get an increase in capital. Bad months will allow you to start at zero. I like that. Any way to remove stress.
If you are good at something, never do it for free--Joker
  • #95
  • Feb 19, 2017 10:07pm Feb 19, 2017 10:07pm
having good emotional control to be able to bring to the business towards success in forex trading, forex run business with can not be in a controlled emotion would not be more to think clearly, but could destroy everything. With it to better understand the learning emotional control and discipline also can be done in a demo account to be learned
  • #96
  • Feb 20, 2017 4:07am Feb 20, 2017 4:07am
Quoting jmn5611
{quote} To control emotions you have to not care, and focus on the process. The only way to do that is to trade a "not care" size. If you actually have a method that is profitable you will get tired of making pennies and scale up. This is why I tell people that I have a 5 figure account, and I trade nickels. Now next week I am going to get bold and start maxing out 100 dollar accounts, one at a time. That is about 50 cents a pip. I have decided to take in account something Mark Fisher said when managing his traders. He would take a small portion...
The "not care size" should actually large enough so that it is significant.
One huge problem that I have encountered is that the "trading authorities" admonish the beginning trader to play with money that "they can afford to lose"
This is one of the many worst advice that is guaranteed to make you lose.
  • #97
  • Feb 20, 2017 4:52am Feb 20, 2017 4:52am
Quoting Mingary
{quote} The "not care size" should actually large enough so that it is significant. One huge problem that I have encountered is that the "trading authorities" admonish the beginning trader to play with money that "they can afford to lose" This is one of the many worst advice that is guaranteed to make you lose.
The Authorities tell them them this because almost to a man, when they start winning they start thinking of fast cars and faster women. They ramp up their size and forget the traders equations. If the typical newbie would trade an I don't care size and focus exclusively on the process of trading, for one year, consistently, they would wind up with more money than they started with by simply cutting losers and keeping winners.
If you are good at something, never do it for free--Joker
  • #98
  • Feb 20, 2017 5:36am Feb 20, 2017 5:36am
Quoting jmn5611
{quote} The Authorities tell them them this because almost to a man, when they start winning they start thinking of fast cars and faster women. They ramp up their size and forget the traders equations. If the typical newbie would trade an I don't care size and focus exclusively on the process of trading, for one year, consistently, they would wind up with more money than they started with by simply cutting losers and keeping winners.
Yes, that's the thing. If they do win, they "play with the market's money" and start doing stupid things.
I think the "Authorities" are in the business of lying and giving false information, because they don't want angry customers coming at them with a baseball bat.
"You lost, but you followed our advice, it was was money you could afford to lose, so why are you upset?, now put more money in your account and try again" (:

When you are playing with the rent money, you have to get on the straight and narrow very quickly ...
  • #99
  • Feb 20, 2017 10:45pm Feb 20, 2017 10:45pm
control the emotions that we ought to do, because the emotions will be more devastating in the way the mindset that is not able to be more focused in carrying out trading, and to do that if we are not ready to jump in the trade account will be better able to utilize a demo account in the way of learning for the stage in the success in forex trading
  • #100
  • Mar 2, 2017 1:42am Mar 2, 2017 1:42am
Learning to control emotions is one important aspect to become a successful trader. To avoid emotionally influenced trading one should build discipline that will allow the trader to think and act as objectively as possible. Practicing on demo account and having confidence in tried and tested trading plan can help in controlling emotions. Moreover one should learn to accept risk as no strategy comes with 100% success ratio.
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