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Emotions (money management)

  • #61
  • Mar 30, 2017 9:19am Mar 30, 2017 9:19am
Quoting gabanda
emotion should be in our control well, the emotions will destroy in running trading. It's better to always execute trades with discipline so that more can be maintained in the control of emotion, so better able to money management managed properly
If you try to control or restrain your emotions, the emotions amplify. What really matters is that there is a space between your emotions and your actions.
  • #62
  • Mar 30, 2017 11:31pm Mar 30, 2017 11:31pm
It depends on the currency pair you are trading. For GBP/USD and EUR/USD yes, you can trade 50,000 because for these pairs 1 lot = $10 per pip. Any pair that is XXX/USD is going to be $10 a pip per lot.

Other pairs vary. Basically, you want to trade $5 a pip. If you're trading USD/JPY, its $8.60 a pip for 1 lot, so you want to trade around 58,000 to get $5 per pip.

  • #63
  • Mar 31, 2017 4:14am Mar 31, 2017 4:14am
money management is very important to be managed well, then we can try to execute trades with no emotion, and more able to carry out trading with emotions well can be controlled to be able to survive in the forex and profit can be obtained easily in running trading
  • #64
  • Apr 3, 2017 4:47am Apr 3, 2017 4:47am
Quoting mlawson71
{quote} Indeed. There's also the psychological toll such an action can have on a person. Losing money like this can really crush one's confidence, and confidence (but not arrogance) is so necessary when trading.
Absolutely! Psychological barriers can substantially hamper our confidence and affect the trading results badly.
  • #65
  • Apr 4, 2017 5:02am Apr 4, 2017 5:02am
Quoting wattsema
{quote} Absolutely! Psychological barriers can substantially hamper our confidence and affect the trading results badly.
People often don't give them and their effect enough credit. Losing money and then getting scared you'll lose money leads to losing more money. It's a terrible vicious circle.
  • #66
  • Apr 5, 2017 4:19am Apr 5, 2017 4:19am
Quoting mlawson71
{quote} People often don't give them and their effect enough credit. Losing money and then getting scared you'll lose money leads to losing more money. It's a terrible vicious circle.
loss in business that is already commonplace, so for it before we run trading well, to try to make trades to maximize the trading skills to be more able to know her risk for uncontrolled. Necessary process in the run in forex business for success to be obtained
  • #67
  • Apr 11, 2017 2:46am Apr 11, 2017 2:46am
Quoting Grabowski
{quote} If you try to control or restrain your emotions, the emotions amplify. What really matters is that there is a space between your emotions and your actions.
A significant characteristic of a successful trader is that he sticks to his strategy and does not allow emotions to get in the way. Emotions are inevitable- especially for a new or unskilled trader and they prevent from making objective decisions. To avoid emotionally influenced trading, building discipline can only allow you to think objectively.
  • #68
  • Apr 12, 2017 3:09am Apr 12, 2017 3:09am
Quoting shayaan
{quote} A significant characteristic of a successful trader is that he sticks to his strategy and does not allow emotions to get in the way. Emotions are inevitable- especially for a new or unskilled trader and they prevent from making objective decisions. To avoid emotionally influenced trading, building discipline can only allow you to think objectively.
in carrying out the most important trading we always run trading by learning on the run, because the forex business is a very risky business. For that try always to strive to learn as in the demo account or demo contest of broker instaforex to improve the ability to better facilitate trading in the running of his trading in real account later
  • #69
  • Apr 13, 2017 2:08am Apr 13, 2017 2:08am
Quoting mlawson71
{quote} People often don't give them and their effect enough credit. Losing money and then getting scared you'll lose money leads to losing more money. It's a terrible vicious circle.
Exactly! Emotions are the baited trap of losses in trading. A very important aspect to manage.
  • #70
  • Apr 13, 2017 8:05am Apr 13, 2017 8:05am
Quoting wattsema
{quote} Exactly! Emotions are the baited trap of losses in trading. A very important aspect to manage.
Not to mention difficult. Trading has many aspects, but a reasonably intelligent person can deal with them. Emotions, however, are not subject of rational, intelligent thought, so it's much harder to manage them.
  • #71
  • Apr 16, 2017 3:51am Apr 16, 2017 3:51am
Your money management skill is that which makes you remain in the market. A trader that finds it difficult to manage high capital finds himself out of the market sooner that he expects. It doesn’t come easy and the skill required in risk management is one that grows with time.
  • #72
  • Apr 16, 2017 5:00am Apr 16, 2017 5:00am
emotion plays a very critical role in trading, even when the trader is on the right track his/her emotion can lead astray. identify your trade and manage the actions and reactions
  • #73
  • Apr 16, 2017 6:49am Apr 16, 2017 6:49am
Quoting MitchellMcC
Your money management skill is that which makes you remain in the market. A trader that finds it difficult to manage high capital finds himself out of the market sooner that he expects. It doesnt come easy and the skill required in risk management is one that grows with time.
True - good money and risk management, as well as strict discipline are some of the most important aspects of profitable trading.
  • #74
  • Apr 18, 2017 2:35am Apr 18, 2017 2:35am
Quoting mlawson71
{quote} Not to mention difficult. Trading has many aspects, but a reasonably intelligent person can deal with them. Emotions, however, are not subject of rational, intelligent thought, so it's much harder to manage them.
strongly agreed! Emotions are subjective and there’s no standard theory to manage them as every individual tends to behave differently.
  • #75
  • Apr 18, 2017 5:38am Apr 18, 2017 5:38am
Quoting wattsema
{quote} strongly agreed! Emotions are subjective and theres no standard theory to manage them as every individual tends to behave differently.
True. There are various approaches one can try, and it's best to try them one by one until you find what fits you best.
  • #76
  • Apr 20, 2017 10:18pm Apr 20, 2017 10:18pm
Emotions in the business are always a big consequence to the trader or to the trading capital, and this needs special handling in minimizing losses from each transaction so that the capital becomes quite safe from big losses.
  • #77
  • Apr 21, 2017 1:43am Apr 21, 2017 1:43am
Quoting mlawson71
{quote} True. There are various approaches one can try, and it's best to try them one by one until you find what fits you best.
I guess that’s how it works. Tell me how did you control your emotions?
  • #78
  • Apr 21, 2017 3:20am Apr 21, 2017 3:20am
When you get angry at someone, how do you control it...?
When you get nervous talking in front of a crowd, how do you calm it...?
When you get over excited, how do you reign it in...?

Breathing? Counting? What does it feel like when you are not experiencing those emotions?
Pick out a time when you are not really doing anything, when you are bored...
Think about that time... what are you doing? Probably not much of anything...

Forex should be boring...
  • #79
  • Apr 21, 2017 5:42am Apr 21, 2017 5:42am
Quoting wattsema
{quote} I guess thats how it works. Tell me how did you control your emotions?
Frankly, the only thing that worked in the end for me was gaining experience. The more I traded, the number I became. And even so, the truth is that I still have moments when I am not calm and cool-headed. What works for you?
  • #80
  • Apr 22, 2017 10:33pm Apr 22, 2017 10:33pm
Quoting wattsema
{quote} Exactly! Emotions are the baited trap of losses in trading. A very important aspect to manage.
No one has never lost a $ because of emotions. If you act on your emotions, that's when you lose money.
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