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  1. #1
    Moderator Kolyo's Avatar

    Trading Psychology !!!

    How did you manage your emotions during trading? Do you have moments when you are nervous or eager to gain? What is the prevailing emotion when you trade? You are controlled mostly by fear or greed? Could you ignore the most dangerous emotions and trade calm with a clear mind? Share your thoughts and experience!

  2. #2
    Junior Member nick_ross's Avatar
    Very interesting topic! I am still far away from unemotional trading. In my trading there are a lot of emotions involved, but I think the fear is the prevailing one. I am happy with the profitable trades, but I am 4x angry when I lose one.

  3. #3
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Kolyo View Post
    How did you manage your emotions during trading? Do you have moments when you are nervous or eager to gain? What is the prevailing emotion when you trade? You are controlled mostly by fear or greed? Could you ignore the most dangerous emotions and trade calm with a clear mind? Share your thoughts and experience!
    Managing ur emotions during trading is only possible with experience and high skill level. Usually traders r not eager to gain but do fear to loose. Greed is a factor when someone starts trading but this greed, in the end, changes to "how to protect my capital". Newbies enter in this world with the mind of "6-figure in less than a year" mindset but they realize in a few days that they were mistaken.
    All these things make them panic and make it harder for them to control their fear and emotions.

  4. #4
    Master Member vinayakm's Avatar

    Well Said! !!!

    Quote Originally Posted by M.J View Post
    Managing ur emotions during trading is only possible with experience and high skill level. Usually traders r not eager to gain but do fear to loose. Greed is a factor when someone starts trading but this greed, in the end, changes to "how to protect my capital". Newbies enter in this world with the mind of "6-figure in less than a year" mindset but they realize in a few days that they were mistaken.
    All these things make them panic and make it harder for them to control their fear and emotions.
    Couldn't have stated it better!

  5. #5
    Veteran Member uj.forex's Avatar
    Fear and Greed... Get rid of them..... trade with small lots at the beginning.... start with demo account... learn properly... make sure what strategy works for you the best..... focus on money management....

    if you do not do any of the above, then losing or should i say DONATING your funds from your real account again and again would be a common thing for you... so better work things out and only enter the market when you think u are ready....

  6. #6
    Legendry Member willyw's Avatar
    Quote Originally Posted by uj.forex View Post
    Fear and Greed... Get rid of them..... trade with small lots at the beginning.... start with demo account... learn properly... make sure what strategy works for you the best..... focus on money management....

    if you do not do any of the above, then losing or should i say DONATING your funds from your real account again and again would be a common thing for you... so better work things out and only enter the market when you think u are ready....
    Many traders burnt their account are due to basically, emotions, fear, greed and hope.
    Have a proper trading plan, ie entry price, take profit and stop loss point and adhere strictly to ur plan. when market is against you; stop loss, NEVER, NEVER HOPE that the market will return to your favor.
    When is in your favour adjust your stop-loss to trailing stop to lock-in your profit. when market reaches your target, exit dont be greedy.

  7. #7
    Veteran Member uj.forex's Avatar
    always set stop loss at the point that u are very much sure that i wont hit at least in that particular day, and hold ur position... IF, IF, it hits, then consider that there was either a problem in ur strategy, or the market showed weird movement unfortunately.... LEARNING is what you would get at the end of the day, along with profit may be....

  8. #8
    Legendry Member willyw's Avatar
    Quote Originally Posted by uj.forex View Post
    always set stop loss at the point that u are very much sure that i wont hit at least in that particular day, and hold ur position... IF, IF, it hits, then consider that there was either a problem in ur strategy, or the market showed weird movement unfortunately.... LEARNING is what you would get at the end of the day, along with profit may be....
    It takes experience in setting stop-loss. New traders always complain that their stop-loss orders are always executed and later the market returns to their favour. This always the case with newbies. Where to set your stop-loss point is very crucial. Always set your stop-loss at critical level, ie support/ressistance level, trendline, fibonacci levels.....etc. At these levels, when your stops are filled you can be sure that the market is continuing. Unless you are near to margin call or when your holding power is weak then you have no choice but to set stop loss at a tight range.

  9. #9
    Veteran Member uj.forex's Avatar
    true that.... setting the stop loss is art itself... well i set my SL around 4 to 8 pips farther the point where it is MEANT to be set... because that point gets hit most of the time.... so playing safe is the key.... plus the indicator that i use gives me a perfect point to set SL at.... support and resistance is RESPECTED by the market at those levels....

  10. #10
    Legendry Member willyw's Avatar
    Quote Originally Posted by uj.forex View Post
    true that.... setting the stop loss is art itself... well i set my SL around 4 to 8 pips farther the point where it is MEANT to be set... because that point gets hit most of the time.... so playing safe is the key.... plus the indicator that i use gives me a perfect point to set SL at.... support and resistance is RESPECTED by the market at those levels....
    If ur SL is always trigger and then afterwards mkt moves back to ur favour then must adjust the SL further. There is always the case of false breakout.

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