Hmmm. Some of the responses on one of my recent questions really got me thinking. We all wanna live stress-free and enjoy to the fullest, while still earning money to support our needs. So, is it possible to trade forex completely stress-free? Would detaching yourself from your trades be the only way to do this?
Humans evolved with a ‘fight or flight’ psychological mentality when facing danger. FX trading is just not suitable to control emotional fear and prevention of pain at all costs - e.g. fear of missing out, fear of losing which causes pain.
Hence why traders would rather nurse a losing trade, than cut it short, in the hope it would turn in their favour, and so justify that they were right.
So, stress is perfectly natural. Top traders control this stress by accepting it’s part of being successful, especially when high monetary trades are at stake. Like everything else, the more you face this situation the less effect it has.
I don’t think “stress free” is possible but low stress and in a controlled manner are something to aim for.
I second this. I think you just have to learn how to get used to it and learn how to manage those emotions.
IT IS POSSIBLE IF U KNOW WHAT U ARE DOING
After time it will become stress free
I think that it is impossible to get rid of all emotions when trading, emotions can be limited to some extent.
Regular meditation and planning can make me stress-free. So I meditate and trade after planning after analysis.
As long as we train our minds to accept both success and failure with the same balance then stress free trading is completely possible.
Stress is an integral part of life, and with trading I think that it comes as a normality. Since there are risks, there are going to be doubts and strictly speaking regardless of your experience in trading there is always going to be this element of risk, and consequently stress.
Experienced traders are more likely to manage to control stress. As a beginner in trading you are bound to be a bit more anxious as you are just getting started. However ultimately you can try to reduce stress by being a bit careful, start small, and try to make well informed decisions.
sure, especially when you have another source of income
I don’t know about stress free, even if you never lose and are trading with a pile of money stacked by the wood stove ready to burn, there will always be a certain amount of stress. Trading is a challenge, and we are all wired to want to win.
But you can reduce your stress by trading with money you’re okay losing, and by trading smart; small positions, wide SL and a love for trading. It also helps to have other hobbies to occupy yourself with.
…and a 100% success rate doesn’t hurt either.
I don’t think so. I think the only time you’ll be trading stress-free is when you truly don’t care about the money you’re trading with but then at that point, why trade even? I can’t imagine anyone taking massive drawdowns or winning tons of $ and not feeling anything lol.
Thanks for this Steve! Tbh, I initially thought that to be a trader, you should be completely emotionless and detached. But I guess it’s really just about being able to manage your stress and feelings properly and wisely.
Agree! I mean, I sometimes pretend to myself that I’m cool with my losses, but at the end of the day, I still can’t help but think about them a bit.
Thank youuu! I’ve been working on this ever since I started and I think I’ve gotten the hang of it now.
Oh well. HAHAHA. I guess I’m the problem.
haha, agree with you! i try to be cool and not to think about it if i make a loss or have a hard day at trading but at the end of the day, i do get that feeling of ‘what if’.
I don’t really think that it is possible to get rid of stress while trading. Technically, yoy can build some trading bot which will trade forex without your control. However, you will still feel stressed when while checking the deposit and hoping that the bot hasn’t blown all the money. If we talk about traditional trading, there is still much room for stress and fear, but you need to learn how to control emortions, anyway.