What is your approach to handle or overcome your emotions?
We must understand that being able to manage our Emotions in the trading is one of the biggest challenges for the traders. They have to try and reduce the losses in their trading and also make sure that they have a Full control over their trading.
I strongly agree with you mate. It is very important to control emotions in order to become a good trader
You do not have to be emotionless while trading.In order to reduce your anxiety, you should try to feel more confident in your trades and trading style. It will eventually give you more peace of mind and confidence to place trades and stay in them.
Exactly, emotion in trading is wasteless. Either concentrate on trading strategies or be with emotions which is wasteless. So I would recommend improving trading and gain profit.
As has been mentioned spend some time doing set and forget trades. Have your SL and TP known and when correct enter the trade and let it either hit SL or TP. No need to interfere and these will help you get used to the concept of leaving it alone.
True That. Emotions are indeed a huge barrier that doesn’t let you think rationally.
Trading can be successful only if it is done without emotions. If I face any loss, I give time to improve my mistakes and never give up. If I would become impatient then I would never achieve my targets.
Emotionless trading is not possible without confidence. If you are serious about trading, make your plan of entry and exit, set some rules of risk and money management. Stick to your plan and invest what you can afford. Positive expectation is the key. Believe in yourself. Both losing and winning will teach you some lessons.
We have to understand the importance of proper money management in doing our trading so that the risks will be limited.
Agreed, it is not only about earning money but also managing it well here.
Emotions are always a game spoiler. We got to try to control our emotions and not let them intervene, else we only mess up things.
On point, emotions got no place in ourtrading schedule, but what’s tough is to know exactly how to control them
I don’t think you need to be emotionless for trading. You just have to make sure that negative emotions do not hinder your performance.
It is normal to feel that way. You just need to control your emotions and not get too anxious
Controlling emotions is difficult, just plan your day well and keep practicing. One who keeps emotions away, is the one who wins here.
You should avoid trading when you feel like you are not mentally stable. Give yourself a break and go by trading plan.
Write down a plan and stick to it, follow the plan. The lot size, the pairs (you can change them if there is a positive news expected), the leverage and most importantly decide the amount of risk you are willing to take.
Don’t take more risk than you can tolerate. Taking too much risk is the most common reason traders hang on to their losers and sell their winners too early
practise meditation for 5-15 minutes daily, it’ll make you more calm and relaxed and patient. Also Instead of making decisions based on the chart, make decisions based on the financials.