You can’t be emotionless when you “Trade” Forex , impossible since it is real money come with real work you put it in some system you dont know if will come or not .
You need to talk about how you control your emotions here , for that you need a logical reasons that make your emotions relax and trust your strategy .
if you do “Trade” by your self on small time frame this is so hard unless you have limited number of signals per day . But as soon you open the platform your adrenaline will start play the rule .
Expert advisors or robots with stop loss protection is very good choice. Also run 3 demo accounts with same strategy to see the trade execution trade is the same as on alive account.
Exactly, you cannot take our emotions from the market. In fact sometimes you need these emotions to help you think straight to take the necessary steps when needed.
Yes, this is true that a trader can not be profitable if he is emotionally driven but also these emotions can not be ignored as emotions are a part of human nature. We can, though, regulate them and maintain a balance between them. This requires constant practice and effort.
You can start from retraining yourself from making changes in the trading plan and follow it strictly. Do not make any changes one the trade is placed.
It is not possible to be emotionless completely. What we need to learn is how to control our emotions and make objective decisions during trading.
your emotion didn’t make you lose ,your trading system did ,stop blaming yourself being a human
You don’t need to become emotionless because that is literally not possible. Emotions run natural in all of us and the quicker we realise this, the easier our lives get. As a human being, control is something to be worked on. Traders need to find the control and confidence to make a certain amount of profit to reach the goal set.
I don’t think it would be possible to become completely emotionless at any point. We are bound to feel some emotions as that is inherent to humans. But we can always choose to focus on logic and rationality instead of feelings and emotions. You should read this book called ‘Trading in the zone’ by Mark Douglas. It really helped me a lot in understanding the concept of trading psychology.
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I had to learn this the hard way, risk management is so important in the market. I have a plan and a goal before you start.
It’s a valid point; really money management is such an important parameter here! On the other hand, using high risk ratio is a bad practice!
You shouldn’t become emotionless, but you should control your overwhelming emotions. The greatest course of action to prevent the influence of emotion in trading is to have an investing plan and stick to it. There are several simple techniques to keep objectivity intact, including dollar-cost averaging, diversification, and passive index investing.
True! Controlling one’s emotions is extremely important. Trading requires a strong trading psychology. It is impossible to be profitable without emotional control, no matter how good your strategy is.
By coding a winning strategy on Expert Advisor , with honest dealer (or dealers) on 24 hrs VPS
If you pass above line , then you need Visa card only to cash your money and enjoy your money because you spend a hell of time to reach that point
Having an investment plan and adhering to it is the best method to avoid being swayed by emotion in trading. When the psychological crunch hits, a trader must establish and adhere to guidelines. Set guidelines for when to enter and exit trades depending on your risk-reward tolerance. Set a profit objective and a stop loss to remove emotion from the equation.
Moreover, Being human beings we can not completely remove emotions from trading we need to learn to maintain the balance of emotions.
It’s not necessary to become emotionless in order to successfully trade forex. You must learn how to control negative emotions. Because negative emotions, if not controlled and kept aside from trading, can interfere with logical thinking and mess up trades. Fear, greed, anger and doubt - these are the 4 main emotions you should avoid when trading. However, fear may come up with a crippling form of anxiety as well which can be hard to remove.
It is not needed to become emotionless, but it is essential to build trading psychology. Developing your trading psychology not only strengthens your sentiments and your decision making ability when trading, but it also helps the trader achieve control over their overwhelming emotions.
How about you change the way you view this? Instead of looking at how to avoid emotions, learn how to manage them and use it to your advantage. Emotions are part of your nature, just like the market is prone to risk. There is no way to avoid these phases but it can be controlled. Hence, use your emotions to your benefit by planning everything in advance and stick to your plans.
Sometimes I feel I want to revenge market and this is a clear signal for me that I don’t need to enter the trade right now and need to take a rest. I learned many money management and trade management tips from Hotforex webinars, I don’t advice to trade if you don’t realize completely that your emotions can considerable affect your trading.
Try to think beyond these emotions instead of trying to become emotionless. Because it is impossible to do so in a real sense. What you can do here is just trying to remain calm and adopt a professional approach towards trading. Always think what will be the best course of action based on logic and make a decision even if your mind tells you otherwise.
Well said! To avoid loss, always plan a strategy before trading and employ risk management strategies. Prepare by learning how to control your emotions and make objective decisions while trading.
Emotions can’t be controlled when you have real money on the line. You can’t stop thinking about the money you’ve risked. So, it’s utter BS**** when someone says that traders can do so and so to control their emotions. If you have lost all the money you had in your bank account and cried all the tears from your eyes, then, I guess you can become emotionless.
You do not need to ‘get emotionless.’ Instead, why don’t you just focus on maintaining energy towards building momentum on your thoughts and start controlling your mind.