Professional traders, in addition to their focus on trading skills, should also study the transaction psychology。If they operate in a good mood and can lead to higher odds. There are two modes of thinking in mind training, developing a better self-confidence mood and overcoming negative emotions. Please senior traders share your experiences and feelings.
To develop my positive emotions, I do mediation regularly. It helps me lot by various ways.
Hey saint.
I hope you don’t mind my opinion. And that’s all it is. But.
I feel that there is absolutely no place for emotions in trading, or in business in general. I mean, think about it. What good comes out of emotions?
Look. I know what you’re saying about self-confidence, mood, negative emotions. But, as humans, we cannot escape the fact that we will be feeling a certain way at certain times.
The question is asked, “How do we deal with our emotional state?” I think that instead of combating how we feel, we should simply recognize that feelings, in and of itself, not only is bad, but should not have any bearing whatsoever in business. I’m talking, even good feelings are bad. Isn’t that what you’re really saying? Good feelings are good, and bad feelings are bad? So, basically, combat the bad feelings and hang onto the good feelings?
I think even wanting a good emotional state is quite dangerous. That can possibly lead you to thinking that you’re better than you really are. Basically, making you believe something about yourself that’s not all the correct.
Look. Emotions, period, is not healthy. The more professional one attains to something, emotions go by the wayside. It’s smarts, and experience that makes you more successful. Surely not emotions. That’s why, in this business, the new traders stumble so much. Cause they can’t separate emotions from business. Everybody knows that you will win some, and lose some. Professionals just realize that a whole lot more than new traders. Their not held back because of how they feel.
I believe that we should concentrate on recognizing when we are emotional, good or bad, and try to learn to operate out of a non-emotional state. It’s not going to end well if we are making decisions because of emotions. I don’t care…one way or the other, in the long run, it won’t end well.
I know this is easier said than done. And I’m no expert. But I truly believe this is the starting point. It’s a long process. Decisions shouldn’t come from emotions. And more importantly we should be asking this question…
What makes us do what we do? Search that, and you’ll probably start finding some answers. We want to be able to say…experience has taught me, or it’s been proven before, or I’m not making the same mistakes, or it’s what I’ve learned, etc…
Emotions have their place. In relationships. Not business.
As for me, I want no decisions stemming from emotions.
That’s my quest.
Even though I am a human being.
Mike
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Mr, Mike is so right on with this post. I have a real problem with emotions in decision making and it affects my trading emesely. I have been trying to resolve this issue internally for about a year now but somehow always slip back in.
I read most of this book recently https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555, which covers the two sides of our decision making process many tones of documented study examples.
You might say we have two brains as in a NY Times review.
An instructor of mine says “what did your mom teach you” Mom being a metaphor of course. But the subject goes very deep into our being. That said it is not all that easy to master and simply trade what you see or put another way follow your rules without hesitation.
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Without any doubt, right trading attitude and ability to balance emotions can help a trader to make certain comfortable trading expedition here. But I personally think all these are possible only when a trader can think rationally and to think practically a trader will need proper skills and expertise.
You must trade with a strategy. The strategy will have x rules, covering set-up, entry pattern/conditions, entry level, stop-loss placement, profit target, pyramiding, economic events calendar inputs… etc. etc.
Let’s say there are 19 rules. Do you really want Rule 20 to say anything like you will do this or you will do that “if I’m feeling cheerful that day”? Whether it works well or works badly will be random, so your success will be random too.
Trading is an antihuman operation, investment really can not have any emotional join, but this is impossible.people inevitably have some outside interference, how to make us more rational, more calm, is the purpose of this topic.
I think your suggestion is very good. If you follow the proper rules, you won’t do anything wrong, which will remove a lot of emotional obstacles.