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

  1. #1
    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 cahyoadi View Post
    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.
    Yes i agree with you that spending lot of time just watching the forex market until we not get our trade results is very harmful for our health too because some times it takes too much time when market is choppy or sideways and we want to achieve some big target,that's causes us too emotional in our trading and we take very wrong decisions while feel too much tired..

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    Registered user alv_trader's Avatar
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    I think the most simple way to reduce our emotions in forex trading is be long term market exposure. Trading for a long time has a way to make traders numb to it. Lengthen the timeframe you are trading. Trade a 1 hour or a 4 hour chart instead of the 5 minute. The longer timeframe allows for a lot less noise in the market and your actions will be considerably slower and more relaxed.

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    long term consider one of the best way to remove any pressure and emotion because we put the order at good point and let it to the market but we must put in our mind the reversing and have good capital to not face loss fast and to load any reversing because the market will return back to our point again

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    I think most of the trader loss their money reason of emotion, And there are lot of trader who lost their money from his profitable trade. And i think for reduce this every trader need to fixed their plan and strategy and also their target.

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  6. #25
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    Quote Originally Posted by zahidrock View Post
    I think most of the trader loss their money reason of emotion, And there are lot of trader who lost their money from his profitable trade. And i think for reduce this every trader need to fixed their plan and strategy and also their target.
    Planning and developing a good trading strategy can help a trader to trade with discipline and avoid the influence of emotions. To succeed in Forex a trader should have good knowledge and avoid his trading decisions to be influenced by emotions. Emotions pulls us down and can cause big losses.

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    Registered user opan's Avatar
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    The emotion was very, very hard to control and a strong need to exercise control but of course we must not give up on controlling emotions, controlling emotions because with the one we can be consistent in what we do forex trading, without controlling our emotions will only be people who keep lost, and thank you for sharing tips to control emotions

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  8. #27
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    Only the trader can do this as no one can else ever do on the behalf of the traders as many time we are surrounded by the emotions and it is very tough to avoid the emotions while making the real trading so we should keep in mind that we can not make success if we can not ignore theses emotions.

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  9. #28
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    Really, the most effective and the most dangerous enemy of the forex traders is the emotion of the trader, But there is no much about this if the trader is very careful about the way they adopts their trading, Firstly, you will have to invest the amount that you can have to let go, i mean you will invest the money that you want to donate to the market and forget it, secondly, make sure that you have plan, with this, you will win.

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  10. #29
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    The best way to keep your trading decisions away of your emotions, or avoid your trades affected by your emotions is learning trade as per your trading plan and following the plan strictly with discipline. the more you are planned lessor the emotions are going to spoil your trades.

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    Registered user cowek ireng's Avatar
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    Reducing our emotion for a profitable forex trade is not an easy task. Because our emotion is the main driver for us to break our own money management rules so that its also the obstacles the profitable forex trades .

    Although its not easy controlling one's emotion in trading especially on a life account. But by the time and with daily practice we can minimize our emotion involvement then we get more familiar with the market so we can adjust and know what to do so that emotions do not dominate our selves.

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