Is it possible to trade without Emotions?

[Nyan]

I can have any emotions I want but the trading decision will be made based on my trading strategy. Period. I already tried to be smarter than TS but this ended with just depo flushing.

 

[james88]

frankly speaking, it is never possible to do anything without emotions. our emotion can be tied to anything we do. So I don't see how you can trade without emotions unless you are not human. Even if you decide to use bot to trade, there is till some mixed emotions relying on a robot to do the trade.

 

[herculesfx]

I think that till WE are humans there will be always emotions involved in trading ... but if You are mature person You can control (in some part) Your thinking and try to trade /or think about trading in that way ---> that give You some kind of calmness during taking RISK
sound hard but I don't think we have another option...

 

[jacobw]

use a more technical approach. read some online books

 

[okon2much]

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 .

I am not really sure how this will be emotionless. Unless you careless about your money. You see, the money is what triggers our emotion. Will allow a robot to determine where your money goes. Lets see how that works.

 

[Rambo35]

Emotions is always a part of everything we do in life. You need emotions to enjoy certain things you do. However, in forex, emotions can contribute to loss and at the same time contribute to gain. What do you think? is there a way to trade without emotions?

I think it is possible to learn that over time, but I find it very challenging for myself. I think it may be partially due to the fact that I am still working out my forex strategy and I hope that once I have it that I will be able to reduce my emotions.

 

[andreask]

I agree with most that the only way to trade without emotion is to use an EA. Emotions play a huge part in Forex trading especially after a losing trade I find myself eager to get back in the market thus making heist decisions.

 

[Fxpipper]

Sorry but I prefer to give all EAs a miss, for obvious reasons and on the part about EA trading, emotion would play an even larger role since you will be depending on an external code to trade for you..

 

[skbiswas]

Forex is an international trade business so here many things to learn & and many rules have to know. So I think here no chance to be emotional. So keep away your emotion to do this business.

 

[Rambo35]

Sorry but I prefer to give all EAs a miss, for obvious reasons and on the part about EA trading, emotion would play an even larger role since you will be depending on an external code to trade for you..

I agree with you, I prefer manual trading myself and would advice against EA's.

 

[Fxpipper]

Yeah, all you need to do is to take a look at some of the sales pitches doing the rounds..earn in 5 figures overnight, etc. Manual trading is the only way, avoid all EAs..

 

[mmkotb]

No it is impossible,
with my experience, all it takes is one emotional fall and you can loose it all, thats why my risk management system is very tight.

Dont even Try

Mmkotb
Trader since 2007

 

[Fxpipper]

@mmkotb, on MM, what's your risk % per trade?

 

[Rambo35]

Yeah, all you need to do is to take a look at some of the sales pitches doing the rounds..earn in 5 figures overnight, etc. Manual trading is the only way, avoid all EAs..

I keep telling new traders that they should ignore EA's and learn how to trade. I am surprised that so many people fall for those cheap sales pitches. Whenever I read 'No Knowledge Required' it makes me cringe.

 

[mmkotb]

Reply @fxpipper

@mmkotb, on MM, what's your risk % per trade?

I never exceed 5%/ per trade, usually 3-4%.

 

[okon2much]

No it is impossible,
with my experience, all it takes is one emotional fall and you can loose it all, thats why my risk management system is very tight.

Dont even Try

Mmkotb
Trader since 2007

Risk Management! I like that. Since you can't trade without emotions, it is best to find a shield. Something that will protect you against any emotional pitfall.

 

[jackman]

No its not at all possible because it includes many things so try to make over it is the better way .

 

[Fxpipper]

I keep telling new traders that they should ignore EA's and learn how to trade. I am surprised that so many people fall for those cheap sales pitches. Whenever I read 'No Knowledge Required' it makes me cringe.

I know, the "no knowledge required" along with "automated trading, you do not have to do anything" are some of the tag lines to watch out for..
Tip: When it comes to forex, making money is never easy and when someone claims the opposite, well, it's time to pack up and head out on a road trip..

 

[ituglobal]

So, you are saying that there is no way to overcome emotions when trading. Well, that is true, emotions will always be present, but when it is present, the question is :who is in control? Life itself is like the waves of the sea, it moves up and down.

Whenever I lose, I won’t show any infantile reactions. I can be encouraged by a good trade, but I won’t be discouraged by a bad trade. Some others may abandon this way of life, but I won’t. People’ negative thoughts and comments on trading aren’t a headache to me. The outside world is very hard – harder than we may think. I’ll let go of the past and look forward to a brighter tomorrow. Trading is my niche; I’m comfortable with it. If you invest the time in becoming an expert then the financial reward can be huge. I’ll continue following the simple time-tested winning strategies. What benefits can you derive from an excellent speculation strategy if you fail to stick to it consistently irrespective of alternative winning and losing streaks?

 

[Rambo35]

I know, the "no knowledge required" along with "automated trading, you do not have to do anything" are some of the tag lines to watch out for..
Tip: When it comes to forex, making money is never easy and when someone claims the opposite, well, it's time to pack up and head out on a road trip..

I know what you mean. I read a quote somewhere which stated:

Making money is simple, but not easy. (Robert Kyosaki I think?).