Just because you over trade you lotsize
Be more confident in your trading strategy by constantly checking what works and eliminating unnecessary one.
And with the constant practice, you will be able to reduce the emotions faced in trading, live of course.
Agreed!
Keep practicing. This will build your confidence.
Based on some trading books thats i have read, one of the book have explained that present trading does not depend on past trading. Dont make decisions based on the past focus on the state of the market whether stable or volatily
I’ve likely commented on this before in the thread about all this, but the thread has got seriously longer since then, and the benefits of my pithy insights (joking) have likely been lost, so…
I pose the question of how to do you become emotionless in anything?
Simple, you stop caring about it.
Ever had the experience of stopping chasing someone to who you were seriously sexually attracted? What was the result? Often they started chasing you right?
Well, money and trading success ain’t that different.
Stop the obsession with trading, and play the (money) field, rather than having oneitis for trading income.
Improve your skillset in other areas, get a new job, get a life, go kick a football, learn a language (even a programming one), do an economics degree, whatever floats your boat. That will mean you have less time to spend worrying about 5 min bars, and the nonfarm payrolls.
And ultimately mean you aren’t going to be knee-jerking every time the market does something you don’t expect.
It’s easy, but you have to be born in England. My wife is always calling me a cold English b__t_rd!
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This was a big change for me. I used to check on my traded constantly, and it was hazardous. I used to trade on my phone. Terrible idea, for me.
Try to check once a day. See how you feel after one month.
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Personally the only way I was able to fully become emotionless when trading was risk management. The only way to fully detach was so that all risk was so miniscule I’d not miss it… this helped me build confidence and profficiency in a system
Tips for Removing Emotion From Your Trading Decisions
- Make a System and Stick With It (Staying Calm) Before you start trading you need a plan.
- Know When to Trade (Exercise Control) There are times to trade and there are times not to trade.
- Know When to Walk Away (Removing Attachments)
Don’t find ways to become emotionless instead work on making your strategies solid and also avoid revenge trading at any cost.
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From the 132 who have contributed in the thread not many are experienced traders maybe the answer simple just set your stops and profits and walk away
The urge to get successful through forex trading has quite made me emotionless, earlier I used to give up but now I put my consistent efforts.
In the world of forex, it is essential to set emotions and ego aside to be able to make proper decisions. Many things that help battling the plethora of emotions one experiences is preserving discipline, maintaining a trading journal, scaling trades, reduced size of positions, using a blended comprehensive analysis and making the most out of economic calendars. Staying grounded mentally plays a key defining role while trading.
Quite an informative reply. Thanks for sharing!
Indeed yes!
You need not to become emotionless. Losses are inevitable and one must accept his/her losses and learn from them. Acceptance is also an emotion that makes us strong and a better version of the trader we were.
Plan to avoid the influence of emotions in trading. Set up your rules for trade set-ups, then follow your rules for the trade decisions.
In preference, use TA features that are objective - for example, price is either above this MA or it is not, the indicator is either above this level or it is not, the last candlestick close was either higher or it was lower.
Run the strategy 100 times in demo. After this it will be as familiar as getting in your car and starting it up: and just as emotion-free.
Don’t think you can neutralise the impact of emotions by venting them in a noisy and expressive way - this is just Californian pseudo-psychological BS.
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It is humanly impossible to become emotionless as emotions are very much a part of everything you do in life. Rather than thinking about how to wipe off emotions completely, it is wise to work on learning how to deal with emotions while trading. A number of techniques that help me include: trading a size that I can handle psychologically, maintaining a trading journal, revising and backtesting my strategies to stay up to date with the current trends in the market.
According to me, when you get consistent in learning and ultimately start getting profits, then emotions can never reside in your trading.
Only possible when you know you have a working strategy. Is this the case for you?
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