Human qualities

Traders should focus on developing good human qualities to be a good Forex trader. Emotion is one of the worst human qualities that drive a person towards failure. Traders take any adverse decision anytime being grabbed by emotion. Successful traders never serve their emotion.

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yes of corse!, facts

Emotion is something that makes us human, a human quality as you call them. To trade well you just need to understand your emotions and be able to compartmentalise them or control them. Having no emotions is only possible if you have a personality disorder.

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Umm i would say you need to embrace your emotions rather than try to deny them. They are there no matter what. Once you accept you are human and you make mistakes and incorporate that into your trading plan the better off you will be

In my opinion, you need to be positive when trading. If it was easy, we would all be millionaires. So it requires consistency and practice until you are confident enough to trade. Also, give room for losses because it’s a part of a trader’s trading journey.

I don’t think emotions should be eliminated but rather taken into consideration but dealt with.

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This is interesting i must of missed this one, ill be giving it a read later :slight_smile:

I like how it actually doesn’t shun emotions - something that all humans possess. :slight_smile:

We humans have certain emotions and they cannot be fully removed from us. However, we can control them and maintain a balance properly. In trading controlling emotions such as greed, fear, hope, anger, overconfidence, panic, etc is essential for carrying out trades smoothly.

Yeah it’s part of what makes life special.
It’s important to embrace and understand emotion but not impulsive action as sometimes that can lead to unintentional consequences doing more harm than good

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100% agree, we need to embrace emotions, recognise them for what they are and then move to the next trade. The thing that supposedly helps so many is meditation. It calms the mind rather than trying to deny it

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We can’t stop being humans and so we can’t stop being emotional whether we are trading or not. It takes years of experience for a trader to realise the impact of extreme emotions on their trades and find ways to minimise their impact.

I don’t think emotion is the worst quality, I think if directed into the right technique and control, it is after all what makes us human. We can use these qualities to our benefit only if we know how to manage it under stress. Which is why start a hobby or do whatever calms you down. Maybe listen to music or read, dance or take a walk. It is important to relax while you continue to make money.

We all have certain qualities and it is important to embrace those. However, when trading forex we should stay away from emotions as much as possible. I know being a human it is tough to keep emotions aside and we often fail to do so. Trading gets tough at times and we need to stay motivated.

Emotions are wonderful. But too many of them cause problems. Controlling them is the key to successfully trading forex.

It’s not easy for humans to be emotionless. But with experience, you will learn to base all your trading decisions on your market analysis and not let your distractions or emotions make a way to your decision-making process.

It is very important to get rid of emotions in trading, suppress excitement and act as a robot. In practice it is very difficult to do this.
I remember when I came to Forex and tried one simple trading strategy, I managed to increase my demo account by 8 times within a week. I also tried it on the real account, which was not so good as the trend changed and I lost everything. I tried to use it in trading, the result was negative. I have simply got to a profitable period of the market and with an overestimated lot I was able to overclock. I’ve never had such results in real trading.
I was so emotional, as I expected to become rich very quickly.
I had to keep learning and improve my skills. And now the training is still going on, in fact, there are still gaps.