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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. #21
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    Quote Originally Posted by ngalapreceh View Post
    I need to wait longer to learn forex, learn forex are endless. I think with the bonus post of this forum, actually we do not use capital. So consider this just a demo account, but here we can draw profit. So if you are afraid of risk, better trading use the bonus money. it will help control emotions also
    Learning with trading with bonus is so good because it is like learning on real account. The main reason to work in Forex is earning money. Its one of the very good point is that we can do Forex business from home. We can do Forex as full time. We can use our skills in trading to earn.

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  3. #22
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    Quote Originally Posted by AmitChallenger View Post
    Learning with trading with bonus is so good because it is like learning on real account. The main reason to work in Forex is earning money. Its one of the very good point is that we can do Forex business from home. We can do Forex as full time. We can use our skills in trading to earn.
    Right friend we can do trade from anywhere, Its a best online full time and part time business for everyone. I think learning with trading bonus is a good opportunity for all but most of us wasting this bonus money because trying to making big profit by our bonus money. I think first a trader should do proper learning and only after that he or she should do trade with bonus money or he or she should use less lot size and risk in learning stage.

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  4. #23
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    Quote Originally Posted by cozard007 View Post
    Well, if I should say my own, I would say that emotional control is a big issue in this market. It is not easy to control it. Forex traders can fight the emotion before they can be enjoying their trading, and what to use in fighting this emotion is in them. It is until when a trader is fully disciplined that thing can work.
    I am sure that most of all forum members are loosing their bonus due to emotion in forex. Frankly speaking I am losing my bonus money again and again due to emotional problem in forex. Its one of the hard part of my trading and I am still struggling to control my emotion in forex, You are right that we need full discipline and experience to control it.

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  5. #24
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    Quote Originally Posted by forexlearner View Post
    I am sure that most of all forum members are loosing their bonus due to emotion in forex. Frankly speaking I am losing my bonus money again and again due to emotional problem in forex. Its one of the hard part of my trading and I am still struggling to control my emotion in forex, You are right that we need full discipline and experience to control it.
    Well, it might be correct, bit since I do not get to look at the account of others, it is under probability. But the emotion is not aright thing and it should be fought by the trader with all strength the trader could use in fighting it. Emotion can not give you the bets, try to be disciplined, and emotion will disappear in your trading life.

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  6. #25
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    Quote Originally Posted by forexlearner View Post
    I am sure that most of all forum members are loosing their bonus due to emotion in forex. Frankly speaking I am losing my bonus money again and again due to emotional problem in forex. Its one of the hard part of my trading and I am still struggling to control my emotion in forex, You are right that we need full discipline and experience to control it.
    honestly yes, i admit it, the emotion still became my problems after several years at this business, but , now is much better than the past, i can do trading better and stay on this business for longer,
    i used my bonus as backup when there was something bad happen to my accounts

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  7. #26
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    Quote Originally Posted by cozard007 View Post
    Well, it might be correct, bit since I do not get to look at the account of others, it is under probability. But the emotion is not aright thing and it should be fought by the trader with all strength the trader could use in fighting it. Emotion can not give you the bets, try to be disciplined, and emotion will disappear in your trading life.
    Yes friend till now I got 2 bonuses and lost them with only one withdrawal of 11 $. one thing common among all forex traders is that losses happen to they all from time to time. To some it might be just skin scratch, but to others it can be devastating. Knowing that losses are not totally avoidable in forex trade is a good mindset for any trader with success in mind.

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  8. #27
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    Quote Originally Posted by shivanandfx View Post
    Yes friend till now I got 2 bonuses and lost them with only one withdrawal of 11 $. one thing common among all forex traders is that losses happen to they all from time to time. To some it might be just skin scratch, but to others it can be devastating. Knowing that losses are not totally avoidable in forex trade is a good mindset for any trader with success in mind.
    Losses are quite natural brother. I think emotions mainly cause us losses. In no business our emotions should be involved. Involving emotions in your trading is surely going to make you lose big money. Forex is an online business or trading anyone you can say. It needs to be careful to do this business. You should avoid greed of money.

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  9. #28
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    A group of the emotions which may help us to get emphasize in the trading . are unimportant to know about the trading procedures . so we may be abel to use them at times we do not have any fears of the trading . also the trading requires of us not to be greedy or having any other ways of the self controlling

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  10. #29
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    Quote Originally Posted by forexlearner View Post
    I am sure that most of all forum members are loosing their bonus due to emotion in forex. Frankly speaking I am losing my bonus money again and again due to emotional problem in forex. Its one of the hard part of my trading and I am still struggling to control my emotion in forex, You are right that we need full discipline and experience to control it.
    You emotion will disappear from you life if you will focus on your trading discipline. Its not only about forum member's even other forex member's also lose when not able to maintain proper discipline in trading. I am also facing my emotion a lot of time and I am learning from my emotion experience. Nothing is hard to control just need a good mindset and confidence

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  11. #30
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    Quote Originally Posted by Khimi234 View Post
    You emotion will disappear from you life if you will focus on your trading discipline. Its not only about forum member's even other forex member's also lose when not able to maintain proper discipline in trading. I am also facing my emotion a lot of time and I am learning from my emotion experience. Nothing is hard to control just need a good mindset and confidence
    I believe this is correct, the emotion is not a good thing, and the only working antidote I know for it is discipline. A disciplined traders would never go against the set trading plans, and this is a very good thing that clears of emotion, if the emotion comes, the discipline will actively control the emotion for the trader at all times.

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