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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. #351
    Trader cutiekc's Avatar
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    being a human, we have emotions, it is a norm. but then again, we should never allow it get to the way we deal on forex, it will be so bad to our account. Furthermore, emotional traders has proven not to have consistent growth, they want to make fast money from the market, they also want to consistently take on trades every now and then whereas fighting the market whenever they loss.

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  3. #352
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    It is a big issue, but we can have it resolved,we can make good consistent amount of money if we avoid it with the way we are trading. My trading experience is that we get so much emotional when we have not learned and not been able to master. Being able to trade with right money and risk management means we have to be able to control the risk we are taking. Being able to have good control over our emotions is one major thing hard to learn.

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  4. #353
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    It could be a big issue, but then still we have to be careful and then know how we will be able to control it, because what matters the most in forex trading is we making money and once we allow our emotions, then it becomes a very big issues for us, so lets learn and know how the market works and discipline our emotions.

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  5. #354
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    i think when we have control on mind we can have many good things, we can control greed, fear and many other emotions which must need to control, if we do not have control on mind simply we can not earn quickly, i think taking the right steps to manage emotions will give us more safer means to trade well and look forward to gain from forex.

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  6. #355
    Trader cutiekc's Avatar
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    Quote Originally Posted by YoyO_o View Post
    i think when we have control on mind we can have many good things, we can control greed, fear and many other emotions which must need to control, if we do not have control on mind simply we can not earn quickly, i think taking the right steps to manage emotions will give us more safer means to trade well and look forward to gain from forex.
    To be in charge and be able to have our emotions controlled most of the times when we are trading, I will suggest we have the basic skills and know how to trade from the demo account, that is being experienced, if we are experienced and have seen the market and what to do in it, we can over come fear, because experience and skills covers that.

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  7. #356
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    Quote Originally Posted by bz moahmmed View Post
    Yes we should control our emotions if we want to trade and if we are sincere for making money and if we are sincere with this bonus. As you said that you got one hundred and fifty four dollars but you lost due to greed and emotions and if you control these habits you can go much ahead in the Forex and can make money and even you have much knowdge and experience and you are not controlling your emotions, greed and over trade you can never earn.
    yes emotional trading is not good for trader and i say that we work in market with our good trading habits and we do not use bad habits in market and we work in market with much knowledge and experience and we always focus on market and we make our trading with experience and safe trading techniques and we do not use emotions, greed and over trade in market then we make successful trading in forex

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  8. #357
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    Of course emotion controlling is a big issue in Forex trading because Most of the Forex trader fail to control emotions and emotion is the leading cause of loss. When we trade in real market our greed, fear everything effect out trade and ruin everything. Emotions are the main enemy of Forex business.

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  9. #358
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    It is not a big issue from what I have been able to learn and understand from the business. Traders that wants to make money just need the right perception on how the business works and see that they are not having the wrong concept for it. Because getting to know what we are doing in the market will enable us be able to control some certain emotions.

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  10. #359
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    Yes, I agree a lot in this and thank you for this good information, which is the concern of every trader, but the problem is that most traders when trading on the platform forget everything due to tension and anger, which miss the ability to make the right decision
    So the trader should learn to control himself

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  11. #360
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    Quote Originally Posted by Khimi234 View Post
    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.
    I think the mindset is the main factor, and a good mindset is derived only from many personal experiences, as well as the results of thought and observation. Indeed, all the points you mentioned are true, but all good results will begin to come only when we already have a good mindset. A trading strategy, money management, and especially good trading psychology will only be formed once we have a good mindset.

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