Use a trading plan always.
I agree with you. But honestly it gets very difficult to control emotions no matter how hard we try. Every bad trade has an impact on our emotions.
Having a trading plan and strictly following it without getting affected by the market fluctautaions is a must for trading.
I think it is a nice post. Any beginner who reads is surely going to get a lot of information here.
This is definitely important, but not all are able to do it. A high percentage of traders get carried away due to emotions and so success isn’t achieved.
Emotional check is something every trader needs to make constantly.
Aliz, that is true but one must learn how to keep their emotions in check and it comes with daily practice.
practise is what makes a man perfect. one needs to work hard learn and practise to be successful
That is right. Even old traders might experience emotions to this day so emotions are natural and needs to be worked on every time you feel it.
Every trader who is trading in the Forex markets will continue to deal with t he Emotions in his trading. Those traders who are getting profits are the ones who have managed to learn how to be able to control their Emotions while trading.
Thanks very much for the tips, well articulated.
Money management and risk management can make a trader successful. However, discipline and plan must be added.
it’s correct. Emotions greatly affect the results. But it also needs to have an efficient trading system, my friend
The only emotion that’s worth paying attention to is surprise. And the only way you’ll be surprised is if you haven’t planned what you’re going to do. Notice if you are surprised, when and why. Then plan better.
We have to understand that trading will require special efforts from our side. This is why it becomes important for us to make a Trading Plan for our trades.
great post .thanks for your effort
Yes trading plan is must for a better trading experience.
Correct, It defines boundaries and that lets us trade with more precision such as specifies entry and exit points and the like.
Wonderful! It is informative and logical. It is easy to make a plan but it gets difficult to implement it and keep you calm
Biancajerry, yes that does happen, but with time you need to learn to stay uneffected and specially stay away from emotions of greed.