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Thread: Emotion Controlling a Big Issue?

  1. #1
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    Emotion Controlling a Big Issue?

    Emotion controlling a big issue for traders?

    Forex trading is a very popular business. Every day many trader's join this business but unfortunately only a few percentage of trader's are successful in this business. There are many reasons to loose money in forex, but the most common thing is to become emotional during trading in forex. We can face the problem of emotion a lot of time in the market, but most of time it take place when we accept profit but market move against us and we get loss. A emotional trader try to do fight with the market, try to take high risk in trading to recover loss, but we all know that this kind of stuff make our business more risky and dangerous for us.

    So the question is how we have to control the emotion during trading? A trader should take forex trading as a business but now days most of time we see that trader's are taking forex as a gambling business, they want to depend upon luck and want to grab a lot of money in short term time. Until we will not take forex as a business till then our greed, emotion, fear won't help us to do good trading. Along with it its very important to know that forex trading business depend 80 to 90 percent upon our trading psychology. Trading psychology is one of the big factor which can help us to do trade with a good mindset.

    Now I would like to disuss few practical points which can help you to reduce the problem of emotion in trading are as follows:

    1. Good forex trading education: Its the main element of our business. "The forex trading education", According to me a good education is very important because by getting a good forex trading education we can take good decisions, we can create better plans for our trading, We can create a good trading system.

    2. Grow your trading knowledge everyday and make plans : Forex trading is full of surprise, I think a trader should never stop his or her learning in forex. We sould learn every day in this business. And we can do that, by growing our trading knowledge every day we can get better idea's to make better trading plans for ourself. We can create more plans and can make our trading system more effective by using them. We can't enter only within Plan A in trading. We should have a Plan B too. We should make plan for each trade and should have a good idea that how we have to react in every type of the market situation.

    3. Right trading mindset: The next thing is the trading mindset, Its very important to keep a good trading mindset at the time of trading, mostly people try to grow their trading balance and they not want to loose any money, look friends forex trading is a risky business and nobody is a master in this business, Market can change anytime so better to deal with losses too. I know that it can give a lot of pain to many trader's but that's the real truth. In forex we can't think only about profit, Loss is a part of this business and its a normal thing here.

    4. Create a good trading system and stick to it: This is one more factor which can help you to reduce your emotion. Now I am since more than 2 year's in this market and according to my experience good successful trader's stick to their trading system all the time. No matter where market going up or down in average they always make money in forex. They have a very strong trading sytsem which giving them profit in average, so we have to also follow them. We can also create a good system like them and can mange our business very well too.

    5. When to enter in the market: Most of time we loose money and become emotional because we don't know that when we have to do trade in forex market. Its right that forex trading is a 24 hour open market where we can do trade for five days in a week. But many trader's want to make money within every second they want to make money very quickly. This type of thinking also not good we should make a good trading analysis, good plan's, strategies to enter on the right time in the market. A trader should have a good sense that when we have to do trade and when we have to not do trade in the market.

    There are many other factors like using less leverage in trading, following money management and risk management in trading, but one thing we have to keep in mind that forex trading is almost a Psychology business. Our business depend 80 to 90 percent on trading psychology. A trader need a good trading psychology use in real market to avoid emotion otherwise these factors can't help a trader to become a professional or successful trader in this business. Hope you will read all these points and will try to work more upon your trading psychology.

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  2. #361
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    well emotion is not good how ever emotion come when trader donot apply money management and trader always denied to put money management when they are in greed and to earn fast money as result step by step they washed their account with in a month :D

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  3. #362
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    well i also accept that emotion is very much big issue to control some time it very difficult for me as well to control and that emotion convert your mind to use big lot to recover your loss or for the greedy mind it change your mind to make huge profit :( never do this it will wash your account :)

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