Hello CL, how are you? And what’s the process? Till now facing the same issues?
Focus on pips and quality of execution, not $$$'s
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I always strive to go with small brokers, I think that they are more sensitive in the sense of risk management
Let go of your emotions, because you are first of all human, and of course they will be. That’s absolutely normal. You don’t have to swear at yourself. It’s easier to learn to keep them under control, and if you can’t just pause more often and give yourself the opportunity to catch your breath so that you always start to work as calm and focused as possible. This comes with experience, because the hundredth time you experience a difficult situation, you just stop worrying so much, it becomes routine and understandable for you. You’ll notice for yourself how your emotions become calmer with time. Don’t worry, each of us has gone through this stage or is going through it now. Don’t be afraid to take breaks and try things that didn’t work out before.
when I first started my LIVE account, I was nervous as hell and kept second guessing myself. But, I realized a lot of that happened because I was risking too much on my trades lol so I just lowered my lot size, and just scaled up. Let’s say you have a $500 account, if you risk about 1-2% per trade, then you shouldn’t be nervous or be full of emotions while the trade is going because it’s only a $5-10 loss if it goes against you. It’s all about risk management and preserving your capital,the profits will eventually flow in
Same as that buddy . I turn mine off for high impact news and to anyone weary of running an EA use it on demo and tweak it
we cant control when trading in practical , so sometime we have to depend on our trading robot which has no emotions at all.
That’s pretty cool
Hi CoinLady,
You are not alone! I had the same emotions last time around with Forex trading - some 4 or 5 years ago now. In the middle of last year I had the chance to work on a new adoption of robotic process automation for a client (I am and IT consultant) and the success of that transformation project brought me full circle round to Forex again. I realized my impatience was not compatible with a successful Forex trader. I kept trade journals. Reading them years later they make me laugh over and over again. At the time I just felt so stupid. My impatience affected other things in my life too. So when I cut the Forex trading I made a promise to myself to slow down and not take on so many things at once. Long story short, I survived three heart operations, got diagnosed with type 2 diabetes and got better within four months with exercise and diet, and now feel better than I did ten years ago. If you can get through that, patience is just so easy.
About patience, I opened the new trading account last August, and have not entered a single trade since then. I am finalizing my new trading algorithm and trading plans, and about to embark on a two month demo festival. With a first goal of “learning how NOT to lose money” based on previous experiences, I am comfortable with the speed and direction of my goals. And this forum has helped me to focus very well on that new goal. A lot of good advice from others here. I am looking forward to swing trading instead of day trading or scalping as I did previously, having got about as far away as it is possible to do from my previous plan.
You can’t get rid of your emotions completely, but you can suppress them a little. To do this, I advise you to trade less, watching the chart, and pay more attention to rest. Strangely enough, it is the distraction from trading that will help you trade more efficiently. As a last resort, trade no more than 5% of your capital, then your losses will not be so terrible.
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It seems to me that to become insensitive in trading, you just need to get used to losses. It is because of the possibility of losing our investment that we are constantly nervous. That’s why I always advise you to trade no more than 10-15% of your capital, then you will more calmly endure losses, and in time you will get used to them and become more morally stable.
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if you have no emotions then its clear , you are not okay. dont think its harmful for real life and business, try to control it by good habit. thats all.
You can never be emotionless when it comes to trading. However, you can control your emotion when it comes to trading. That is a main difference here.
Write down a plan and trade it.
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Emotional Forex trading is very harmful. It complicates the mind. The mindset should be controlled for trading. You cannot make a profit if you make your mindset emotional. And you have to use the daily time frame. You have to control the risk management because if you can’t control the risk management, your emotions will work more than double. You have to move forward with a long time goal in mind. And always remember that there will be a loss in trading. This loss must be covered and traded.
Whenever you feel overcome with emotions, just take a quiet walk outside. Will clear your head and help you get rid of some unnecessary emotions.
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Yes, I would suggest the same. Trade with a plan and to add, practice the max you can.
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Yep, Practice is what makes you ace your skills eventually.
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Exactly what I do when i feel the emotions way too much.
Practice is the main thing in trading.
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