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How to better control our emotions?

  • #101
  • Mar 2, 2017 5:10am Mar 2, 2017 5:10am
Quoting forex.darren
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.
I don’t think that practicing on a demo account alone can help much with learning how to deal with one’s emotions. When trading on a demo account the anxiety that is connected to risking real money is just not there.
  • #102
  • Mar 2, 2017 9:42am Mar 2, 2017 9:42am
In my opinion it is very important to practice meditation when you are a trader.
I personally practice transcendental meditation (this is the easiest type) 2 times a day.
  • #103
  • Mar 2, 2017 10:59pm Mar 2, 2017 10:59pm
emotion for we can better control it can to test the plunge on a real account, because by using little capital will be trained in the science and also mentally to be more controlled emotional
  • #104
  • Mar 3, 2017 4:38am Mar 3, 2017 4:38am
Quoting Explorateur
In my opinion it is very important to practice meditation when you are a trader. I personally practice transcendental meditation (this is the easiest type) 2 times a day.
I have seen people mentioning meditation before. Does it help you? Have you noticed a marked improvement ever since you started?
  • #105
  • Mar 3, 2017 9:13am Mar 3, 2017 9:13am
not so sure about mediation, and i kinda havent got the time, but one thing i learned over 5 years of trading my account, its simply learn to go around it, set some basic rules till it becomes a habit.
  • #106
  • Mar 3, 2017 11:04am Mar 3, 2017 11:04am
Quoting mlawson71
{quote} I have seen people mentioning meditation before. Does it help you? Have you noticed a marked improvement ever since you started?
Yes, It definitely helps. I have become much less emotional in trading.
It just clears your mind from noisy daily thoughts and helps focusing on one thing (searching the very best entry on market). And of course (I have noticed) it affects in very positive way my trading.
  • #107
  • Mar 3, 2017 12:07pm Mar 3, 2017 12:07pm
Quoting mlawson71
{quote} I have seen people mentioning meditation before. Does it help you? Have you noticed a marked improvement ever since you started?
Absolutely helps me too.Keeps your mind calm, trading or otherwise.

Try zazen mediation or vipassana meditation.

I have been trying my hand at spirituality and self hypnosis too for a more mature brain and check of emotions

Blew up close to 23 k in 2016(Lost 12 k in one afternoon due to sterling flash crash) and was feeling borderline insane.
Your friendly neighbourhood Sith
  • #108
  • Mar 4, 2017 2:10am Mar 4, 2017 2:10am
Quoting darthPip
{quote} Absolutely helps me too.Keeps your mind calm, trading or otherwise. Try zazen mediation or vipassana meditation. I have been trying my hand at spirituality and self hypnosis too for a more mature brain and check of emotions Blew up close to 23 k in 2016(Lost 12 k in one afternoon due to sterling flash crash) and was feeling borderline insane.
That must have been a pretty painful loss, I can only imagine. If meditation is helping you to avoid that happening again that’s great. I will look into the advice you’ve given me, thank you!
  • #109
  • Mar 5, 2017 8:01pm Mar 5, 2017 8:01pm
Quoting mlawson71
{quote} That must have been a pretty painful loss, I can only imagine. If meditation is helping you to avoid that happening again thats great. I will look into the advice youve given me, thank you!
indeed losses will be very painful, but traders should be berfirik as where it is better to be able to get what is expected in the forex to be able to get consistent gains. And that would be better always to try to learn all the time done to move towards success in forex
  • #110
  • Mar 7, 2017 11:40pm Mar 7, 2017 11:40pm
Quoting mlawson71
{quote} I dont think that practicing on a demo account alone can help much with learning how to deal with ones emotions. When trading on a demo account the anxiety that is connected to risking real money is just not there.
Well I agree with you. It’s just one of the ways. Even I believe demo account cannot give the complete picture about the trading environment as the aspect of real money is missing. But a demo account gives you an insight of the trading basics and knowledge which is important before you step into the live trading world.
  • #111
  • Mar 8, 2017 1:31am Mar 8, 2017 1:31am
Quoting Explorateur
In my opinion it is very important to practice meditation when you are a trader. I personally practice transcendental meditation (this is the easiest type) 2 times a day.
I would say mediation is also very important. Also as has been mentioned, reducing your position size. If a losing trade is going to hurt you that much then you're in over your head. This is the voice of experience speaking here :-)
  • #112
  • Mar 8, 2017 4:08am Mar 8, 2017 4:08am
Quoting Reformation
{quote} I would say mediation is also very important. Also as has been mentioned, reducing your position size. If a losing trade is going to hurt you that much then you're in over your head. This is the voice of experience speaking here :-)
I am not sure I would deem meditation important. Is it an interesting, probably effective approach to reduce stress? It most definitely is. But I am sure its not the only approach.
  • #113
  • Mar 16, 2017 10:53pm Mar 16, 2017 10:53pm
to control the emotions that the first should have enough knowledge of the maximum, and the discipline applied in carrying out its forex trading, or to do the study with the preparation prior to easy forex trading account in order to run properly
  • #114
  • Mar 17, 2017 1:38pm Mar 17, 2017 1:38pm
One practical approach to control our emotion is to act quickly in getting out of a losing position so you can retain your losses to a minimum degree. Once you have opened a trade, traders are encouraged to enter a stop-loss order. Your stop-loss order needs to be modified to decrease the amount of money you put in jeopardy & to preserve any gains.
  • #115
  • Mar 18, 2017 3:31am Mar 18, 2017 3:31am
Trade with a smaller size lot to get that compounding profits. Once in profits, keep your capital and add risk to entry with the profits. If gain include 50% of the gain into your capital and the other 50% entry aggressively. If all profits loss go back to step 1.
Self discipline It is a practice
  • #116
  • Mar 20, 2017 8:43pm Mar 20, 2017 8:43pm
Clearly define your set up, entry, target, SL...etc

Backtest your strategy, when it is profitable, go ahead

Don't let your emotion make you lose, you need to stay with your strategy...unless you want to lose money
  • #117
  • Mar 20, 2017 11:44pm Mar 20, 2017 11:44pm
emotions were awake would be able to execute our trading better, and when traders are more able to improve the ability of the major forex trading, because always to be successful in running trading with maximum knowledge.
  • #118
  • Mar 21, 2017 8:22am Mar 21, 2017 8:22am
1. First you need to develop your trading system. Check it for 100% (Demo account), write your own algorithm (this is an important aspect). Maintain your trade journal.
2. After entering the market, go more often from the computer. Do other things. 3. Observe the mani management. (The maximum risk is 3%). 4. Set SL and TP. 5. Periodically rest from the trade. For a few days.
  • #119
  • Mar 22, 2017 4:30am Mar 22, 2017 4:30am
Quoting tprofits
1. First you need to develop your trading system. Check it for 100% (Demo account), write your own algorithm (this is an important aspect). Maintain your trade journal. 2. After entering the market, go more often from the computer. Do other things. 3. Observe the mani management. (The maximum risk is 3%). 4. Set SL and TP. 5. Periodically rest from the trade. For a few days.
I agree. I couldn't emphasize how important it is to test a strategy thoroughly before employing it on a live account and how important it is to have an activity apart from trading that helps you relax and clear your mind. Otherwise stress will make you make poor, poor decisions.
  • #120
  • Mar 22, 2017 8:23pm Mar 22, 2017 8:23pm
Quoting mlawson71
{quote} I agree. I couldn't emphasize how important it is to test a strategy thoroughly before employing it on a live account and how important it is to have an activity apart from trading that helps you relax and clear your mind. Otherwise stress will make you make poor, poor decisions.
in running trading on a live account is very important to do, and it can be done with a small capital of $ 1 in a standard account instaforex, because with a small capital more could train and test the science of trading skills possessed, as well as mental, and discipline will also be trained
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