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Thread: How to reduce the emotional obstacles for a profitable forex trading?

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    Super Moderator RoboForex Trader's Avatar
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    How to reduce the emotional obstacles for a profitable forex trading?

    Learn how to become a profitable market speculator is not so hard. Logic, rules and strategy - it's certainly not complicated science. Challenge comes when you actually try to execute consistently profitable strategy.

    The main reason for this challenge lies in the fact that we are all human beings with our inherent human emotions. From birth, we try to avoid things that scare us, and look forward to the things that allow us to feel comfortable. If you follow this natural course of action in the trade, then you will be in big trouble.

    Logically, the profitable trader buys when the price dropped, and only after the majority of market participants have already sold (red candles), at the level of price support (demand). Buy when everyone just sold - is not so comfortable action. When opening a short position you should find a situation where most participants have already bought - after a big rally in the market, but it challenges your emotional nature.
    Here we look at three easy steps for reducing the emotional obstacles to consistently profitable trading.

    Change the color of candles

    Most traders use the red and green candles, making the price chart is quite attractive to look at, but it may not always be the best option for trading. If you sell after the price rally and on an objective level of resistance (supply), which is a high-probability trading opportunities, then you are probably ready to sell immediately after a series of large green candle. However, to sell after a series of green candles may be not as comfortable, because it creates a strong illusion that the price is going to continue to move on up.

    There was conducted an experiment with the students, showing them a strong rally to a predetermined level of resistance, which suggests the possibility of trading with low risk and a high probability.

    The color of the candles was changed on the black, allowing them to remove some of the emotional tone during selling at the resistance level. In the setting of the green and red candles, the sale after a series of green candles has caused fear among new traders.

    Change the color of candles - it's not so absurd idea, if you are just starting to trade and too concentrate on the color of the candles. You should always remember: the color is not so much important as their location.

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  2. #101
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    Quote Originally Posted by Nizar View Post
    i usually watch pips movement instead of candle so i don't think changing candle colors will affect my psychology of trading very much,also in general i don't believe this theory is very accurate as if trading psychology and stress is not that simple so we can deal with it changing chart and terminal colors it is more complicated that that. :)
    I agree with you, because i have the same experience with you. I dont see the color but see the price movement. The price move up or down and make my position in minus or in profit. Then, which can help me to reduce my emotional obstacle is when i can make good analysis, follow the trend and always trade with stop loss and risk management

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    Registered user Nizar's Avatar
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    Quote Originally Posted by debian View Post
    our emotions will greatly impacting how much obstacles forex trade by the future, so do not underestimate the emotion, if we're not good at managing of psychology in our selves then emotion will be impact of trading activity would be very bad as obstacles way
    i think the best way for a trader to reduce emotion and psychological effect on his trading decisions is to know exactly what he is going to do according to a solid plan he previously have,random decisions and random dealing with market condition can increase pressure on the trader and distract him and his decisions.

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    Bend your view to the charts, not the charts to your view

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    Quote Originally Posted by Nizar View Post
    i think the best way for a trader to reduce emotion and psychological effect on his trading decisions is to know exactly what he is going to do according to a solid plan he previously have,random decisions and random dealing with market condition can increase pressure on the trader and distract him and his decisions.
    Yes, it is right. we need to know why we make any decision, then we will know the risk in every our decision. we need to always follow our trading plan to makes good decision in every trade. When we follow our trading plan, we will know that our risk will not large and we can control our emotion better if we know that our trading follow the plan

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    Quote Originally Posted by elena View Post
    I agree with you, because i have the same experience with you. I dont see the color but see the price movement. The price move up or down and make my position in minus or in profit. Then, which can help me to reduce my emotional obstacle is when i can make good analysis, follow the trend and always trade with stop loss and risk management
    is to secure our funds in the account when the transaction will be wiser when we deal always use a stop loss, use a stop loss because it can make us money if we are wrong to take funding decisions that we have today was not going to run out eventually, including the analysis of a very important also

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    maximum new trader loss money by the emotion and they think that forex one of the good way for make money by the short time and they want to make money by the short but when they fail in loss then they start hate forex trade and they think this is the hard and they hate forex trade and i think by the emotion maximum trader loss money if you can control emotion then you will be do best and this is the best one for you to make good by the forex trade and i think by the greedy mind you will be loss all money from the forex trade

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    Yes bro, we should be able to control your emotions to be trading well,i think trade that trade the long term have the chance to reduce emotion when trading Forex,we must learn to control ourselves from emotional to make good trades with proper psychological management, so that our account will be safe

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    Registered user Azis Muslim's Avatar
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    Quote Originally Posted by Nizar View Post
    i usually watch pips movement instead of candle so i don't think changing candle colors will affect my psychology of trading very much,also in general i don't believe this theory is very accurate as if trading psychology and stress is not that simple so we can deal with it changing chart and terminal colors it is more complicated that that. :)
    I personally change my candlestick color so that it can make me easily determine the trend by analyzing the chart pattern. I always set the bear candlestick with red and bull candlestick in green color. I just get used to it so when I use the candlestick with different color, it makes me a bit confuse but not decrease my capability in analyzing the pattern.

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    Quote Originally Posted by Azis Muslim View Post
    I personally change my candlestick color so that it can make me easily determine the trend by analyzing the chart pattern. I always set the bear candlestick with red and bull candlestick in green color. I just get used to it so when I use the candlestick with different color, it makes me a bit confuse but not decrease my capability in analyzing the pattern.
    Yeah, it can makes us easier to analyze the price movement. The thread starter suggest us to use the same color both for bullish and bearish candle to help us reduce the emotional obstacles. But if we use the same colour, then we will hard to analyze the market, because we dont know whether the candle is bull or bear

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    Registered user Nizar's Avatar
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    Quote Originally Posted by cowek ireng View Post
    sohag sohan, I also same think if we let emotions to dominant in us then we will never doing a trade in proper way and we will always be cursing and hating ourselves for the trades that we have do and that will get bad results in end of our trade
    the emotions will remain always there and even professional advanced traders experience some emotions during trading but the key is to control these emotions and never never make any trading decision based on them because of course these decision will be impulsive and not consistent with trading plan that a trader has.

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    Registered user cowek ireng's Avatar
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    Nizar, You are right controlling emotions is the most important thing that every trader must who want try to improve their selves . because if the trader can not control their emotions then they will trade with unclear mind which lead them to make a lot of trades every day as blindly without the right analysis which cause losses for their capital, but if the trader know how to control their emotions then they will be able to set a trading plan, have clear goal trade and apply the money management rules

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