Are you emotionally affected by your profits or losses?

Demo not recommend in long run , if you are using demo more then 2 months then maybe its not helping that much.

Demo for immature/beginners and Live for real traders.

As traders we all have to counter with trade emotions we have to train ourselves to fight adverse effects of trading.

I find myself emotionally attached to my profits and losses.
Is there anyway to overcome this?

If you find that you are emotionally attached to your profits and losses. Then you will be.
There is no way to completely unattached yourself. Unless you are Aspergerish.


Meditation may help to reduce the level of anxiety.

Search in Youtube for

" A 15 Minute Mind-Hack to Massively Enhance Your Brain Power and Emotional State: Vishen Lakhiani "

It works for me. Hope it works for you.

As far as I know people with Aspergers too feel emotion like people without it, but they have a difficulty communicating it. As such they too would have an emotional reaction to their trading, be it positive or negative.

Haha, no offences. I apologize.
i was just teasing Lexys.

We have to learn how we will be able to manage our trading based emotions and then only we will come to a position whereby we will start earning some income :slight_smile:

Emotions definitely effect our moods specially profit and loss are important profit can make us greedy or overconfident. loss makes disappointed and depressed.If we think realistically both should remain normal with us because profit and loss are vital part of trading.

True. But humans are emotional creatures and emotional discipline is something that needs to be learned over time.

I like to think that I can leave emotions out of my trading, but I am just fooling myself :frowning:

No one can leave emotions out of trading, they’re part of who we are. We just need to learn to deal with them.

Yes but how to do it correctly? When I’m trying to get rid of emotions it seems to me I still making wrong decisions, as all my brain starts to work more slow. I try to concentrate on what is right and what is wrong, and paying not much attention to the orders and outcomes. Is it thing that comes only with experience?
I can’t get it now

Yeah I think most people are effected when they lose money, it’s really hard to not to be, especially if you go on a losing streak. I do mind exercises everyday before I sit and look at my charts, that way when I place a trade I know that I’m sound in mind and if a mistake happens and I lose money I know that it wasn’t my decision but something out of my control that lost that particular trade.

Unfortunately, all of us in one way or another are dependant upon our victories and failures. It’s possible that with experience one learns to cope with it, but I don’t think it’s possible to fully control these emotions as a trader. But one should try, develope moral stability, we become wiser with experience.

I don’t think there’s an answer to that question that fits everyone. Different people learn to deal with their emotions differently. For me it was just a matter of experience.

We are humans, and that means we should be able to gain control over our emotions to be successful. To achieve that, we must the difference between Optimism and confidence. When you are Optimistic about a trade, it means you are expecting the best, but confidence means knowing how to handle the worst.

Confidence also means that you know that you are right and that your trading decisions are good.

No, confidence means that you [B]think[/B] you are right. World of a difference

I mostly refer to that reaction - and emotion - as arrogance, rather than confidence. Confidence isn’t necessarily a bad thing, as long as it can be backed up by real skill. That is why it’s important for a trader to be prone to self-reflection leading to self-awareness. One should know what they [B]can’t[/B] do, but also what they [B]can[/B] do and have a realistic sense of their own self-worth.

It is only normal for traders to become afraid when they start to lose money. What happens next is that they’ll start having impaired judgment. Since It cannot be denied, You have to have the attitude that if a trade loses, you can handle it without any problem and come back to do the next trade. You can’t let a losing trade get to you emotionally otherwise you’ll stop trading.

The most important thing in trading is to recognize when you have the correct psychology for placing a trade. If you lose a trade you must clear your mind and then place another order.