The best thing one can do, in my opinion, is to trade. Trade on a demo account, later do so on a live account. But don’t just trade blindly - learn from every mistake, every mishap, every profit, learn all that you did wrong, all that you did right, gain confidence. The more confident - rightfully, justifiably confident -you are, the easier it will be to overcome your emotions.
You can’t be “human” if you want to be an awesome trader LOL
After careful consideration, and painstaking questionnaires… The obstacle responsible for your silence has been removed. Speak now or… you know the rest.
I don’t think there’s really anything that can “dull the emotions” other than just doing it, no matter what the endeavor is. If you go through the trading process enough, you’ll both take profits enough and get punched in the face by the market enough to start understanding that it’s about the total body of work, not individual trades.
Trade small and over time you’ll see it’s about managing risk and building wealth over a long period of time; that’s when individual trades start to hardly phase you at all. At least, that’s how I see it… hope it helps.
To take emotions out of trading -
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keep your system SIMPLE: know what you’re looking for in your preferred set-up and be able to recognise it instantly when it occurs
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make the rules of your system OBJECTIVE: prepare definitions of the patterns or price action you’re looking for: the set-up either complies with these or it doesn’t, no maybe’s
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TRAIN: run the strategy in demo or in micro-stakes or in back-testing so that its rules cover every possible scenario
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PRACTICE: run the strategy with micro-stakes until its either consistently successful or it breaks
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ACCEPT that unless you have a 100% win rate, you have built losses into your strategy: when they occur, they are part of the plan, not mistakes or failures or bad luck or market manipulation.
This job ain’t easy.
Try being in a war zone, not knowing whether you will live until tomorrow… then come back and see whether losng a few dollars really matters that much !
“Treat Trading Like A Business” as i did & earned a ton of money. I am sharing my personal experience that how i made money from trading specially XAU USD ANALYSIS by taking special guidance from Multi Management & Future Solutions.
Control Those Critical Emotions
Here are 5 down to earth tips to enable you to figure out how to be beneficial and control your feelings:
1. Gain some new useful knowledge About Trading.
2. Play out Some In-Depth Market Research
3. Paper Trade Until You Fall Over.
4. Compose A Trading/Business Plan.
5. Break down 5 Completely New Charts.
Emotions should be controlled in trading because it leads us towards revenge and greed factor. It can be control like others do control on it so first we should have proper knowledge of Forex trade and spent three month in demo account.
It is not a matter of intelligence to hide emotions. It is training regular practice and do trading in realistic way that will help any trader to involve less emotions. Many genius traders are fail in this task. When our target and acts are realistic we will definitely overcome emotions.
In line with these suggestions @Jaavos, another solution to consider is automation. If you can program your trading strategy, or have it programmed for you, that could help take your emotions out of the decision making process.
That is some of the most practical advice I’ve seen on the topic. Thank you.
I will try to implement this in my own trading.
you cant overcome emotions. successfull traders dont overcome emotions and they dont even try. you must learn to live with them and use them in trading.
How would you suggest to use emotions in trading? I confess that when I trade emotions just make me make irrational decisons.
they r a good indicator. when you are anxiety. when you are worried. when you are nervous - no matter in or out of a trade::: dont trade. close the position you are nervous about.
it can be out of these reasons:
position too big
wrong direction
nervous about upcoming news event paired with too little margin to withstand spikes
etc
etc
when you have open positions and dont think about them. dont get nervous when not watching chart. dont get anxiety etc- hold that position open.
it means your subcautions sees no danger
you are sure of your direction
you are in profits and comfortable it will continue
same goes for when yiu staying out of market. if you are calm not trading then it is good to have no position. if you hold no position but are not calm with it since market is moving then listen to your emptions and open trades.
use your emotions. you cant turn the off or silent them. they are good for you. they warn you of danger before your cautious brain knows there is danger. whoever tries to overcome emotions wil fail as he is trying to overcome nature and human nature itself. you can tell yourself a million times 2+2 is not 4. but only because you are stubborn it wint make your statement correct. same goes for emotions. you cant overcome them or shut them down no matter how hard you try. you go against your own nature. its better to make use of your nature instead of going against it.
I see the “Like” button but surely there must be a “Wrong!” button for this?
I see the “Like” button but surely there must be a “Wrong!” button for this?
its ok. then im wrong if tommor says it–rolleyes–
-sarcasm
As well you know…
I think that the key is not to overcome emotions but to develop a plan and just stick to it.
is it dumb if i say i over come emotion by diet and food
When I was panicking in a trade, I always found the best solution to be, to switch off the computer and go for a walk, half an hour or so is fine - it fulfils the “flight fight” choice need our minds apply to these situations.