One of the most important bedrocks of trading is keeping your emotions out of it.
I’m no trading genius by any means but I’m very proficient in keeping a cool head in stressful situations. As a skydiver and experienced meditator I’ve got quite a bit of experience in controlling emotions (especially at times when emotions are running high).
Let me know in the comments what you find most challenging and I’ll write up a guide [U]on this forum[/U] to give you some concrete strategies to keep your monkey brain out of the picture when you are trading and to be more productive and successful in your trading.
I would have just written it up and whacked it on here without asking for feedback but I’d rather just try and address people’s problems first time round!
Honestly I find myself not waiting for the right trading set up before jumping in , and if I loose I’m prone to jumping into a revenge trade to make up
Emotions are one of the biggest roadblocks to success. There are countless reason for that, but it all points to not being ready to trade. Emotions are closely related to fear which is the lack of knowledge (of course some also experience emotions when they are in a positive trade and then don’t know when/how/why to exit the trade).
You have to be hard on yourself, even when a trade makes money. If it was a bad trade, rushed, revenge, unplanned, it doesn’t make any difference whether you win or lose, you need to kick your own butt for breaking your trade rules
[QUOTE=“eddieb;699056”] You have to be hard on yourself, even when a trade makes money. If it was a bad trade, rushed, revenge, unplanned, it doesn’t make any difference whether you win or lose, you need to kick your own butt for breaking your trade rules[/QUOTE]
Emotions aren’t always negative though, as these could sometimes be warning signals for you to exit a trade early or to adjust your risk. What it all boils down to is how you manage your reactions and incorporate what’s really going on in the markets versus relying solely on what you feel.
[QUOTE=“PipDiddy;699132”]Emotions aren’t always negative though, as these could sometimes be warning signals for you to exit a trade early or to adjust your risk. What it all boils down to is how you manage your reactions and incorporate what’s really going on in the markets versus relying solely on what you feel.[/QUOTE]
I also learned not to over leverage myself trying to revenge trade my losses back , lost a trade yesterday and quit for the day . That’s my first step
Revenge trading and over trading are two most common problems a newbie has to face. If you overcome these aspects then you will see profit adding up in your trading account.
I think experience has to do a lot with emotions. the more experienced and ready you are the less emotions you have! To add to this you can take advantage of sl and tp to help you control the emotions
I do not think always emotions are negative some times our fear saves us to do risky trading . Our sixth sense warns us to save ourself . If we are able to control emotions and manage them during trading we can use emotions positively too.
The struggle is real, no one can run away from it. When you evolve as a trader, you have to go through all this struggle. There is no short cut to it. Only consistent hard work will take you through this in bad times.
