Booking profits on emotions Vs booking profits on logic
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Thread: Booking profits on emotions Vs booking profits on logic

  1. #1
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    Booking profits on emotions Vs booking profits on logic

    Since few months I started trading Forex : It is not many months that I have joined Forex market. But one thing I have noticed is that my losses have been always over my profits. Though I have not faced a big loss till now as I never trade Forex without discipline. But still I wanted to analyze my own trading and find out the cuase that is making my losses to exceed my profits.

    Reason : On reviewing my trading and my history I always find that my profits are smalls and my losses are bigger. So the breason behind my small profits is that I always book my profits with emotions. Instead of closing a trade as per the pre determined strategy or exit target I close it with little profits due to the fear of missing that profits also.

    Conclusion : So what I understood is that traders who exit a trade on emotions will always take much small profits though they typically take huge losses. While traders who exit a trade based on logic and strategy have much high profits and are able to give much stronger and better trading performance. So what I am stressing is now to discard the element of fear and overcome the feelings that make me close a trade with little profits. I now need to learn to let my profits run till my target is hit

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    Yes taking the high risk would become the main cause of your loss in forex but its good to know that now you have proper sense of your trading. And the good thing is that you are working with the right place for now robo forex forum would provide you good study material of forex. You will also able to get so many advices here from the robo forex forum members. You have said right in your conclusion that you have to control your emotion, you have to tackle this calamity at first otherwise it can burn your trading account in few days.

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  3. #3
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    @ Komalan, I understand this and I have faced this things you have faced in forex. What you will do to yourself is not allowing yourself getting too active in watching your trade because it could be one reason why your emotions will allow you close up your trade even when it hasn't reach you take profits. Sometimes your emotions might play on and you close your trade and later see it went as you predicted. Just know your risk, set your sl and tp, then allow the market to do what it knows how to do best.

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    Quote Originally Posted by Ifycoguy View Post
    @ Komalan, I understand this and I have faced this things you have faced in forex. What you will do to yourself is not allowing yourself getting too active in watching your trade because it could be one reason why your emotions will allow you close up your trade even when it hasn't reach you take profits. Sometimes your emotions might play on and you close your trade and later see it went as you predicted. Just know your risk, set your sl and tp, then allow the market to do what it knows how to do best.
    High risk and watching trades continuously are two main reasons that makes a trader emotional. i don't think that i use high risk at all because i don't think that it is that easy to risk huge in forex and make huge profits. Already i am trading and that a risk so why must i make more risk and loss everything.

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    Quote Originally Posted by QuickAction View Post
    High risk and watching trades continuously are two main reasons that makes a trader emotional. i don't think that i use high risk at all because i don't think that it is that easy to risk huge in forex and make huge profits. Already i am trading and that a risk so why must i make more risk and loss everything.
    taking high risk is the mirror if traders can not think logically, so they just want to make big money in a short time without good attention to protect themselves from the bad side, of course, if we can do it with well, taking high risk will give us good earning in a short time, but, hard for us to get this place, so better to think realistically and always take the safest way to work in the market

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  6. #6
    Trader layigold's Avatar
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    Every trader knows that emotion does great harm to trader's account in forex trading and there are different ways by which emotion manifests. In the first instance, emotion will cause to close profitable trades prematurely and then leave the losing trades and possibly adjust the stop loss target for the fear of being hit . The trader will only discovered that his emotional involvement the trades has wrecked a great havoc on the trades that would have ended up in good profits if he left it alone

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    Trader layigold's Avatar
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    I am happy to hear that you always trade with discipline because that is what so many forex traders lack and the very reasons for the loss and failures they face.I will advise you to keep up the discipline and remain committed to learning and practice. You may not be having much progress as you would have wished but with time, the way you trade will begin to improve and you will see remarkable changes . I wish you best of luck .

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    Quote Originally Posted by layigold View Post
    I am happy to hear that you always trade with discipline because that is what so many forex traders lack and the very reasons for the loss and failures they face.I will advise you to keep up the discipline and remain committed to learning and practice. You may not be having much progress as you would have wished but with time, the way you trade will begin to improve and you will see remarkable changes . I wish you best of luck .
    I feel good for trader's when they able to do better improvement in their trading business, there are so many members in the forum who have done a great change in their trading business now and I think all credit goes to the hard work of the trader. We can learn only by ourself here, because experience is the main key which can show us our mistakes and weak points here.

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  9. #9
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    Do not do that do not trade profit on emotions and for the right desisions you make be sure you know how to pull together the right implimented trading force that we see around we need to formulate and good issue that makes forex the best in every coner that we seek and see we are all suppose to be the right issuance of a good profit endevered

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  10. #10
    Trader cutiekc's Avatar
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    Well, my knowledge has taught me that it is more better we do that abased on logic, because emotions makes you take deceptive trades, and then that is how you get to loss your money, but when you learn based on being logical about the trade you take, it will be easier for you too become successful, forex trading is a risk business and you should not allow emotions to set in.

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