Lets say its a family problem or maybe some conflict at home or work that is distracting or making you feel bad. would you still trade that day or week?
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You can but itâs not advisable. In my experience, it has led to mistakes and losing trades. Being in that state usually means you donât get enough sleep or eat well or donât look after yourself to be at your optimum level. All the more reason to take a break until you are able to entirely focus. Even lower your position size or trade demo if you want to stay in the game.
I donât trade intra-day so Iâm never under much stress from trading. But I do my chart analysis, spreadsheet the chart features I track, work out the strongest and weakest pairs, highlight trade opportunities and adjust entry and exit order price levels every evening.
This is deliberately so mechanical that stress wonât affect the outcomes: everything Iâm tracking is objective and usually binary. For example, price is either above the 50EMA or it isnât - todayâs high was either higher than yesterdayâs or it wasnât - etc⌠Add it all up and what I do next is totally defined.
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If I see I am in consistent losses, I skip trading for the day and try to come back strongly later on.
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Hi, I personally could trade the same because I have a strategy that lets me no room for interpretation (I use EMAs: either the price is in the correct position to enter a trade or it isnât, and thatâs all). Anyway, if I were upset I think I 'd prefer not to trade for that day: ok, Iâm sure that I would follow my rules, BUT Iâm also sure that if I hit a stop it would upset me even more. So, I think that for me it would be better not to trade and to wait for my mood to calm. Of course this applies only to me, glad to see any different opinions.
yes of course, why not?!
i donât really know how a problem at home/family should affect price and market.
your mind probably get affected by a bad day, this could be true⌠personally i am very emotionless so i âneverâ experience a bad mood (or a good mood) so iâll always trade if my criteria are met.
but i think i know what you trying to figure out with that question⌠if you having a bad day you probably should first chill and calm down until your mental state becomes normal because i read and experienced that human beings are likely to make bad decisions and choices when they mix feelings with forex, math, science etc.
Itâs like mixing vodka & milkđ you can meditate or go for a walk for half hour and then watch the screen again and take a decision based on what you see, not what you feel.
hope this will help you and happy tradingđ
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You can if it doesnât affect your focus. However, you should take some time off as you would with a 9 to 5.
No, if any brunt goes over me , I skip trading for the day because I believe mindset matters in Forex trading.
As I am not a professional trade and trade forex especially whenever I get time, I donât trade under pressure.
- If youâre having a bad day in general, be it personal or job, donât trade.
- If youâre in your office trying to multitask your day job while day trading at the same time, donât trade.
- If youâre too happy for that for whatever reasons, donât trade either.
Conclusion is, anything that doesnât make you feel calm for that day. Donât trade. Because trading requires attention and your mental should be in a good state to do the analysis. Otherwise, you will make too much errors and bad decisions.
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Thatâs amazing. Have you always been like this? Aka, are your parents/family like this too?
Nope, in situations like that, Iâd lean towards not trading for the day or week. Trading requires focus, and getting into it with a distracted or down mindset is not a great idea. So, my general approach is to prioritize a calm and clear mindset for trading.
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You just need to ask a simple question: Is that situation going to influence the way you trading/thinking? If yes, donât even try to trade.
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hi, interesting question 
i lost my dad when i was 6 or 7 years old i donât really remeber if he was alike, my family lives in Italy i only see them trough phone, but they seem to be full of emotions just like my mother and sister. my lil brother however, is emotionless too, unless we talk about his cat or his cars then suddenly emotions appears haha
You know, emotional stability is crucial for decision making. If a personal issue is affecting my judgment, itâs wise to refrain from trading that day or week. Trading under distress can lead to poor decisions. Itâs better to step back, address the personal matter, and return to trading with a clear mind. The markets will always be there, but trading emotionally can result in costly mistakes.
Smart question. Another thing you could probably follow that up with is âCan you control your emotions while trading?â But I guess someone can delude themselves into thinking yes, itâs possible.
Lol love how itâs the cats and cars that get him 
Maybe your dad is kind of like you also and thatâs where you get it from 
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My advice is obviously not going to be trade related as well then.
First of all, as a person, when it comes to everything you do in your life is absolutely related to your mindset if you want good results to come out of your endeavors. Your mindset is extremely important. It needs to be ironclad. It needs to be immune to getting clouded because of some external factors. My point is this: unless an ultimately unexpected and traumatic event has not happened, you should be able to focus on what really matters and cut out the noise. Good traders have self-control and self-discipline. They practice stoicism to focus on whatâs important in the markets.
I would say it depends on how oppressed Iâm feeling that day. If there was an extremely unpleasant situation which harshly impacted my mood, Iâd better constrain myself from trading this day, cause whenever you feel supressed, you canât con cetrate on the chart analysis as your mind is busy with sorting things out about the situation had happened.
Iâm 100% sure it varies from person to person. There are such ones who donât care at all and they can easily shift the focus on smth they really need at the moment.
When Iâm having a bad day as soon as possible I will do something nce for someone else. Obviously, I ocld treat myself to a bowl of ice cream or a shot of Scotch or buy something electronic I donât need but doing something extra nice has much more personal impact.
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If youre having a bad day (not trading related), do you still trade?
If you substitute the word trade with âGo to workâ you will have my answerâŚa resounding yes!!!