I need guidance top stop emotions and greed

Once you made your plan. (Entry, stop loss, take profit orders) turn your trading station off. Come back in a few hours or days. Note your emotions and continue.

does this trading journal assist you in your future trades? i mean will you look in your notes before opening a position ?

Trade base on plan will make stable mental and surely will impact the psychology being strong . if so the possibility of emotional trade surely will be reduced . its also have impact of greedy cause with stable mental the traders will have minds as realistic and clearly

There is no more effective way to control our emotion in trading except with preparing good trading plan and trade as the planning. It is easier to stick on the rule if traders are confident with the system because it is impossible to be discipline to follow the rule if traders didn’t sure with the system itself. Good system is not perfect system which gave no loss at all but good system will manage profit and loss so as overall, you won’t risk more than you could afford to take.

this book has helped me out considerably, completely changed the way i approach the market “the daily trading coach” i’ve posted the link to the free pdf.
Redirect Notice2009-a23.pdf&rct=j&frm=1&q=&esrc=s&sa=U&ei=GuAwVaGIMcvbaO3KgPgP&ved=0CBQQFjAA&usg=AFQjCNH7elX2DKTsk6xYXjy7tZ2B3UFhkw

'best

darth

i just try to develop an entry and exit plan BEFORE i trade, and just stick to it as best as i can. That keeps the emotions out for me.

You don’t need to worry if you know where you’re going.

That is such a throw away comment, like let it go. it hold’s no substance.

darth

I think you’re right. It will be good idea to make proper trading plan for entry and exit point before making decision to open or close position because it will be easier to control emotion if there is proper trading plan to follow in making decision. But you need to keep update your strategy and system regularly (about once in each 3-4 months) so it can be used for long-term trading.

[QUOTE=“darthfrancis;696293”] That is such a throw away comment, like let it go. it hold’s no substance. darth[/QUOTE]

This may be true for you. For me, I know where I’m going. Maybe I’m wrong, but never guessing.

George,

How is the trading going? Haven’t heard from you for a little while…

Lexy

If you want to avoid emotions ,use stop loss and take profit . DO trading according to your risk management plan . Not try to get much even market is in your favor just find possible and sure profit and come out of market with safety.

Thanks Lexy! Well, things started going better, i can say i’m making a steady profit (for now) , i’m having some ups and downs (mostly ups) but now i can control my emotions more easily.Oh! I also write down all my everyday activity in some sort of notes where i type pictures of my trades where i criticize my self after the end of the day trying to self motivate myself towards being a better trader! SO far only Eur/Usd I don’t feel ready yet to try something different. :wink:

Control of emotion is one of the difficult challenges that most traders find it very difficult to control. Your emotion is part of you so is cannot be completely eradicated. Having a trading plan and being discipline is one way to keep emotions in check.

Yes we can control of emotion with that ways , but as limites in controlling not in stop emotions and greed completely cause we have psychology in our hearts so how profesional the trader i believe emotion and greed still in their mental but its not matter as long as they trading plan that can control it

That’s right. Emotion control is not easy thing to do because traders could control emotion well if they have confidence with his trading plan and he can be more realistic in trading that profit and loss could happen in every transaction no matter how good our analysis is. No one can trade without loss at all so the problem is not how to trade without loss at all but how to manage profit and loss so as overall is still profit.

George you are a proud man in an army protecting your country, now you need to protect your account and this is possible only your self realization. Make sure to make the right market analysis and be disciplined while trading with regard to the entry and positioning only then profiting is possible.

GChar,

I am very new to this and have never traded even on a demo account. I do have a background in psychology however and can offer some advice based on my expertise:

  1. Emotions were created by hundreds of thousands of years of evolution during a time when we lived strictly off the land hunting and gathering and combating the hostile forces of survival and reproduction. Emotions worked very well in this primitive setting and are still important to survival today. The problem is that they are a huge mismatch for highly logical activities like trading. Basically we are still neanderthal-minded trying to do work of a highly-disciplined, sophisticated, logical suit and tie professional. We were definitely not “designed” to trade.

  2. You will NEVER be able to completely block out your emotions, you will get over-powered ever single time. The best thing you can do is become a master of identifying your emotions, evaluating how these emotions might influence your trading behavior, and regulating your emotions as best you can when trading. You should NEVER trade when you are experiencing strong emotions, either positive or negative. It’s almost like training yourself for Buddhist concentration and discipline.

  3. ALWAYS remember that logic rules over emotion. It can be difficult to trade based on pure logic but this is always the best way. The forces that control the market are logical and not emotional. The closer your knowledge about the market and trading behavior parallel logic, the better your trades will be.

It might be hard to face but since you only have limited time (and not the best times) available to trade, you might want to put off trading, real money at least, until your schedule changes.

Hope this helps you and best of luck,

Pat

Hello George

To control emotions like fear and greed you can try to follow a vipassana meditation retreat, (10 days).
it doesnt matter what background you are from its is open for anyone. It is basically mental training. It helped me a lot and i think it can help you and anyone else as well. They have training centers all over the world, i think there is one in Cyprus also. Good luck.

I think you should know the risk in your business first before you tried to use any other things like meditation, mental training or any other thing. The most important is your trading plan to follow, if you had proper trading plan then it will be easier to control emotion because your only focus is following trading plan well. It can prevent unnecessary mistake which can happen in the market.