Is it possible to trade without Emotions?
- Thread starter okon2much
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Yes, load up a trading robot on VPS and abstain from monitoring its results - it will be purely emotionless trading. Not sure if it will be successful though. Not even talking of fun here 😉.
ezrydn
Active Trader
There's nothing wrong with having emotions when you trade. The only question is do you have control over them or vice versa? What you're really questioning is how do you control Fear? Why would you deny Joy on a successful trade. Winston Churchhill answered that one for you already.
Nothing wrong with emotions
To excel at something, you need to enjoy doing it. You have to get passionate and emotional about it, and that goes for Forex also. Fear and greed are two emotional extremes that we cannot eliminate, but which we must control in order to trade successfully. I deal with these two emotions by truly understanding my trading strategy and how far I can push the parameters.
I know how many losing trades in a row I can sustain before wipeout, and I trade accordingly. This eliminates fear of loss. I let profits run. This satisfies greed. Anything in between is the "joy" of trading!
To excel at something, you need to enjoy doing it. You have to get passionate and emotional about it, and that goes for Forex also. Fear and greed are two emotional extremes that we cannot eliminate, but which we must control in order to trade successfully. I deal with these two emotions by truly understanding my trading strategy and how far I can push the parameters.
I know how many losing trades in a row I can sustain before wipeout, and I trade accordingly. This eliminates fear of loss. I let profits run. This satisfies greed. Anything in between is the "joy" of trading!
I think its got alot to do with knowing were you are as a trader. When I was in search of a method/strategy that actually worked my emotions were a major struggle to deal with, which lead me to take trades I probably shouldn't have. Only to lengthen or completely mess-up the foward testing I was doing on a strategy. Once I found a method that worked and got proficient at it, emotions were no longer a factor in the slightest bit. I do think however if I was mature enough to realize where I was as a trader I could have had more success foward testing different strategies and maybe would have found one that worked a little sooner.
Yes, how true. I did not mention that I have been trading in one form or another since 1978, and it has taken me a long time to reach a comfortable trading zone. Maybe if there had been forums around back then my learning curve would have been much smaller. Of course, there was no such thing as a desktop PC back then, and the internet simply did not exist!
yup there is a way to trade with out emotions, use EAs 😀 but on the other hand instead of looking at emotions as a negative thing, reverse it and use it for motivation,but studying and learning more you tend to be more confident with your trades, and never hold on to a losing trade, if you lost a trade forget about it and move on and treat each trade as if its your first, 😀
Using EA is not going to reduce emotions, rather it will increase it for the simple reason most traders often have unrealistic expectations on how their ea would perform..and when it does not..
Either way, the only way you can limit emotions or to an extent control them is by trading manually.
Either way, the only way you can limit emotions or to an extent control them is by trading manually.
if you are a forum poster its not a big problem.but a forex trader when invest $ in forex ,he/she cant do forex without emotion.
It is difficult to trade without emotions as it is a human nature to have emotions. In forex trading, a trader needs time to drill himself/herself to overcome emotions as times goes by gaining more trading experience. If you are trading manually, after you executed an open trade, shutdown your pc or walk away from your pc or you can use a robot, EA to trade for you.
No I experienced without emotions trading is not possible. We face lot of emotions in real trading. W are not aware of them consciously. In demo we are relax but in real we are tense when our money is in risk. If we had one or two times profit we become greedy o get more and more which is not practice can cause a great loss at once.
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