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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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    Just stick to basics and try to imporve your trading skills by demo trading first and make your own strategies. Yes that is my way.

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    Just stick to basics and try to improve your trading skills by demo trading first and make your own strategies. Yes that is my way.

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    Well my method to reducing the emotional effect while trading is by listening my favorite music so I won't be panicked easily if my prediction is wrong. My another method is by leaving the open order with take profit ans stop loss so the emotion won't give much effect for me while trading.

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    Quote Originally Posted by thenight View Post
    Well my method to reducing the emotional effect while trading is by listening my favorite music so I won't be panicked easily if my prediction is wrong. My another method is by leaving the open order with take profit ans stop loss so the emotion won't give much effect for me while trading.
    Certainly listen to music while trading does not reduce the passion in trading because any trader concentration is high in the follow up the price chart does not focus with the music, and I never see that it is better to reduce the proportion of risk and reduce the loss of the best because the passion affected by loss and profits only

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    Well dear if we want to reduce emotional obstacle then we must have to do more and more practice in forex trading market because practice is the only way to control these emotions and earns money without any trouble in forex trading market , so practice is very important for us.

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    Registered user alv_trader's Avatar
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    Many Forex traders spend hours trading, many spend the whole day. That's totally wrong habits. Take a moment to calm & relax yourself. Workout, go for a run, play your favorite video game, do some yoga, anything to refresh & calm your mind so you can approach your next trades with a clear, fresh mind, so you can reduce your emotions during trading.

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    Emotional control is perhaps the biggest challenge a trader faces while trading Forex. Emotions like greed and fear die hard but can be controlled through proper knowledge and experience. Forex is not an easy or quick source of money and we need to have good discipline to survive and earn in this business.

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    Emotion is main thing for forex trading. It is very difficult to control. We loss a lot of money due to our emotional trade. So we need to control this habit for our good and profitable trade.

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    Quote Originally Posted by amrmorasamir View Post
    Certainly listen to music while trading does not reduce the passion in trading because any trader concentration is high in the follow up the price chart does not focus with the music, and I never see that it is better to reduce the proportion of risk and reduce the loss of the best because the passion affected by loss and profits only
    no the music working with me it make the tension very low but if i listen to my favorite music but actually we can choose the good time for trade and avoid the day which have many problems or not good to trade with pure mind and think good

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  10. #19
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    Quote Originally Posted by alv_trader View Post
    Many Forex traders spend hours trading, many spend the whole day. That's totally wrong habits. Take a moment to calm & relax yourself. Workout, go for a run, play your favorite video game, do some yoga, anything to refresh & calm your mind so you can approach your next trades with a clear, fresh mind, so you can reduce your emotions during trading.
    i agree with your opinion,because if we spend a lot time every day so our body will very tired and it is make our psychology become a bad,because when our physical condition in a bad so our psychologycal condition will also in a bad condition,so we must avoid for trading in a lot time every day.

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    That is the most important and most focusing thing that how you can reduce or handle your emotions during and after and before the trading , and if trader can control the emotions than he can be a best trader , and he can earn good stable earning from the forex,.,

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