Emotion does gets you pump up to trade the Forex…however there are emotions that can effect your trading that you may lose a lot.One thing is that when you need to STOP/Close your trade,your emotions block you from doing it.You still want to profit,not giving up…when sometimes enough is enough.You NEED to close your trade…then accept your lost and try the best on the next trade.Patience and discipline is needed when trading the Forex.
No people no emotion and no money as well.
As a planned trader we can control the influence of emotions t some extent . We have to act upon it . having our goal close the trade even market is most in your favor. Only realistic deicions can bring a lot of money . e need to learn the art of trading in different situations of the market.
When I opened my first trade, my heart beatet much faster!
Now, when I open my trade, I minimize MT4, set the alarm clock to 5 minutes and watch MT4 again in 5 minutes. I don’t set the alarm clock because I would forget about my trade, no! But to discipline myself not always staring at how the trade develops … one gets weird doing this.
EDIT:
The most profitable trades I ever had was on demo accounts, opening a position and forgetting about it. Then opening demo MT4 a few days later and [B]find an open position far in the plus. Think about it![/B]
my understanding was, you need to have the emotions because you need to understand the emotions of other participants in the market. the best traders i know are ones who have had the experience of losing a ton of money, making a ton of money, not being able to sleep at night worrying about their positions. it is conquering these emotions that enables great traders to exploit the predictability of other people’s emotions.
Emotion influence majority of the trading decisions… That’s what i love about algo trading… No emotions, No fear… Pure trading…
No emotions…well, where do you put them during trading? My opinion is that the emotions are useful. Your brain works works much faster when you have extra adrenalin in your blood. Even chess players have the emotions. What important is how you handle and use them.
there is some tips which i use to control my emo.
One day only trade one times, don matter win or lose.
Don alway see the chart, only check when a new candle come.
hope that help you.
I agree with “no people, no emotion and lot of money”. Forex trading is best market to make money and emotional control is at the heart of good Forex trading. If you are not a emotive trader, you can get success in Forex market. Because in Forex market you must love Forex trading. Emotion can affects your trading. So, don’t take decision by emotionally, to take decision depending up on your knowledge and confidence. Emotions can make unsuccessful you in Forex trading.