How to manage Emotions of trading?

[Leo Wilson]

Negative emotions are the most dangerous part not only against your trade, but against your whole surroundings including family. We all know that it isn't easy. But we are not supposed to follow our own flesh when trade doesn't go in favor. Give yourself time a break, instead of buying more to recover your loss which leaves you nothing but shattered pocket. Being there for some times, had some breaks, and was ready to come up with weapons (lessons)!
Let's remember one necessity lesson , we must not surrender our lives to money. That's biggest enemy if we do.
Cheers!

 

[JohnyIve]

If you can't keep calm in life situatuions even don't think about managing emotions in forex. You have to be patient and tranquil even if you lose depo

 

[Rayford Adam]

Have anyone of you come to a point where you lose up on many of your positions? When you feel emotionally that this is the best time for trading? / when you have a good dream or a good belief this is the best time for a good trade( your mind feels as though you can make an impact with your actions) Once this happens emotions begin to take over,do you go ahead to trade or restrain yourself during this time?

Hi, sure you can manage your emotions checkout these points:

• Take a walk after each trade
• Find out the least volatile hour of the trading session
• Stop trading after three consecutive wins or losses
• Don’t look at your profit and loss while you are trading
• Ask yourself am I scared?

 

[Ary Barroso]

Hi, sure you can manage your emotions checkout these points:

• Take a walk after each trade
• Find out the least volatile hour of the trading session
• Stop trading after three consecutive wins or losses
• Don’t look at your profit and loss while you are trading
• Ask yourself am I scared?

According to me, your 3rd point is the best! Yes, I take a decent break after consistent TP or SL, it helps me a lot.

 

[Ann]

If you're a player, you trade with emotions, and they help. I think intuition also consists of emotions.But if you are not a player, then do not trade yourself, automate the process.

 

[profitwithpips]

Emotional trading gets the best of us....honestly I don't think any trader ever fully master them. You just have to recognize when you are emotionally trading and redirect yourself to follow your plan to the tee. You wrote the plan out bc it works for your trading style right? so use that tool. Emotional trading can mess you up more ways than one. The more you follow your plan consistently the better you can trade with limited emotions

 

[PolinaPolly]

Emotion is the thing that is very hard to control. But in trading it is so important to manage with your emotions. My key to success is:
- to control emotions in everyday life (meet stress bravely, don’t hide; this way you learn to control any kind of stress)
- not to trade big sums just after demo account (cause on demo you don’t feel the same, try cent account at first)
- in the stressful situation to repeat the phrase “calm down, it might be even worse if you won’t calm down!”. It really works for me.
- to read books/articles on this theme (someone’s experience can inspire you).

 

[milornld]

Points - How to manage emotions of trading

- Take a walk after each trade
- Stop trading after three consecutive wins or losses
- When you are watching your trades unfold, keep asking yourself: “Am I scared?”
- At any point, if you answer “Yes”. Exit immediately.
- Find out the least volatile hour of the trading session
- Don’t look at your profit and loss while you are trading

 

[forexking]

You first need to understand that losses are part of life. You cannot have profits each day. Once you start trading with this mindset, you’ll learn to manage your emotions.

 

[e_abrams]

They are certainly part of forex trading, that is for sure. And they have to be taken into consideration when making a trading plan.

 

[Fritz Fabiano]

They are certainly part of forex trading, that is for sure. And they have to be taken into consideration when making a trading plan.

Sure, they certainly are a part of forex trading but one should not get swayed away by their emotions.

 

[e_abrams]

I was actually talking about the losses.

 

[danielbro]

Hi, sure you can manage your emotions checkout these points:

• Take a walk after each trade
• Find out the least volatile hour of the trading session
• Stop trading after three consecutive wins or losses
• Don’t look at your profit and loss while you are trading
• Ask yourself am I scared?

These are few pointers that I think some traders can pay attention to.

 

[e_abrams]

I like this advice! I am not sure that taking a walk outside after each trade is very practical depending on where people live and how much free time they have, but taking a break in general may be a good thing.

 

[Todor]

I like this advice! I am not sure that taking a walk outside after each trade is very practical depending on where people live and how much free time they have, but taking a break in general may be a good thing.

Yes, be it in trading or in life, taking a break always helps mate.

 

[e_abrams]

Indeed. What do you do when you are taking a break from trading?