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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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    Quote Originally Posted by cozard007 View Post
    You are right, It is not a wise idea to trade with high risk, that means you have the mind to make money very fast, and that will not help you, it will only hurt you in the market. Forex traders should also shun anything that will cause emotion to their trading, and they should try to trade the market with full strength of their trading system.
    Yup this kind of trading will only hurt us eventually and we should try to take some steps to follow a lower risk trading system in forex, trading with high risk can give us heavy emotion becuase trader's try to go for a big money and when they don't able to get that then they feel better to use more big lot size to make that much amount of profit from trades. Big risk, big target, all these can hurt us in forex trading market. We should do trade with proper management and lower risk trading is very crucial part of it.

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    Quote Originally Posted by Bhagatfx View Post
    If we want to make money out of this market one should have a money management which is equally important. To reduce the emotional stress one should always trust on their strategies which they have being using. yes its good to have knowledge of all basis indicator too. and never ever that my strategies are simple so i cant make money out of it. The one having a complex charts on their screen also loss some or the other trade.
    To redue the emotion obstacle in trading is not very easy at all, especially when you are adopting a complex trading system in your account, trader should keep his trading system very simple and he should have good managerial skill to handle his emotion problem simply. This is true budy the word "trust" matters a lot in our business to control our bad emotions, it gives us a good consistency and lead to a financial success too.

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    I always work on this sentence "" Slow Study Win the Race "". And work with small lot size i don't have greedy . I kill greedy in my self and try to learn more and more i want to increase my earning but not magically in one night . I use the proper way like you and trade with small capital by using the small lot size . Do you believe that i trade with 3.01$ and withdraw 6.26$ and still 5.40$ is remaining.

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    Quote Originally Posted by madhujella View Post
    I always work on this sentence "" Slow Study Win the Race "". And work with small lot size i don't have greedy . I kill greedy in my self and try to learn more and more i want to increase my earning but not magically in one night . I use the proper way like you and trade with small capital by using the small lot size . Do you believe that i trade with 3.01$ and withdraw 6.26$ and still 5.40$ is remaining.
    This is good if you have a good control on your greed, but there are many more emotions out there, revenge in trading could also become a major problem in trading, as far I know about you, you are a new trader in forex and I think that you should control other emotions too same like your greed one. This is your beginning time and you have to be very caution about many more challenges, its just a starting mate. I like the process mate you are earning good money, that's nice cheer's.

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    Quote Originally Posted by Earnperfect View Post
    To redue the emotion obstacle in trading is not very easy at all, especially when you are adopting a complex trading system in your account, trader should keep his trading system very simple and he should have good managerial skill to handle his emotion problem simply. This is true budy the word "trust" matters a lot in our business to control our bad emotions, it gives us a good consistency and lead to a financial success too.
    Well, I would like traders not to scare themselves about the emotion. What is emotion? Emotion is actively caused by forex traders, and could also be control by the forex trader as well. So, you are the one that will stand on your right and do the forex trading in the best professional manner. This starts from the way the trader is working with his managements, psychology and having strong determination and discipline over his trades.

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    Quote Originally Posted by cozard007 View Post
    Well, I would like traders not to scare themselves about the emotion. What is emotion? Emotion is actively caused by forex traders, and could also be control by the forex trader as well. So, you are the one that will stand on your right and do the forex trading in the best professional manner. This starts from the way the trader is working with his managements, psychology and having strong determination and discipline over his trades.
    The forex trader is the main cause of his emotion himself and it will only be decreased by the trader when he will able to make a good self control during trading. This is a subject of trading psychology and this is written everywhere now days that our 70% is totally depend upon our trading psychology. Most of trader's are ignoring their psychology learning and they are only busy with trading strategy learning.

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    Quote Originally Posted by forexlearner View Post
    The forex trader is the main cause of his emotion himself and it will only be decreased by the trader when he will able to make a good self control during trading. This is a subject of trading psychology and this is written everywhere now days that our 70% is totally depend upon our trading psychology. Most of trader's are ignoring their psychology learning and they are only busy with trading strategy learning.
    Yes buddy I have also read about it online that we have to give our best the study of trading psychology because almost all our trading success is dependent upon a good trading psychology level, learning is not a hard thing about the management, and the trading strategy it will only take few months but controlling your trading psychology is one of the hardest part of our trading and trader's can take many year's to develop it.

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    We all might have the approach of which is been used when it comes to controlling emotions. But then to me I according to my experience I would want to let us know that the trading strategy we ware to make use of will determine how our emotions reacts to it. If we should learn our trading strategy properly then we can be able to trade and reduce the stress. Thus that is why I choose trading the longer time frame which helps me on controlling my emotions and follow my trading rules.

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    Using small lot size, accepting small profit and stop loss are the only way due to which we can reduce the emotional obstacles for a profitable trading and we should do forex with proper planning and strategy. It is because that forex is risky and tough business and we should be careful all time in order to get the fruitful result.

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    Quote Originally Posted by Nova View Post
    Using small lot size, accepting small profit and stop loss are the only way due to which we can reduce the emotional obstacles for a profitable trading and we should do forex with proper planning and strategy. It is because that forex is risky and tough business and we should be careful all time in order to get the fruitful result.
    Well, we should consider the amount of money we are trading with and should know the amount of risk we are willing to take on a trading account, that only will determine the lots to be used, everything has to be well calculated in forex trading. Thus if we are risking the amount of money we can afford losing then we will have less emotions and also we need to be highly disciplined and follow only what we know and what works for us in trading.

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