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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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  2. #41
    Rookie mohabbat's Avatar
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    I think emotion as like a cancer virus . and maximum beginner trade emotionally and lost they are total investment so it is very bad. because some mastic can lost your total trading life. so we should to avoid it by carting professional mentality. otherwise we can not gain on FX market easily. so I hope every trader must avoid this virus from today.

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    Registered user cowek ireng's Avatar
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    yhuudy, It is bad for us when uncontrolled emotion, always keep in mind that control in our emotions for save our account from margin call and from regret on actions take on pushing by high tension or anger take revenge which impact of emotion, and that of course have it's reason to reduce of emotion. ,better stick to our strategy and discipline in our good plan.

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  4. #43
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    Quote Originally Posted by yhuudy View Post
    thank you for your advice sir, we should be able to control your emotions to be trading well, I often mc because can not control your emotions well, if I once loss then I can not control myself to not op anymore, that there in my mind is to restore the defeat, but should I be silent before, so I was op without analysis and a little gamble so I lost most of my money.
    It's right if emotion control is important because traders who followed emotion, mostly of them are making wrong decision. But we can't remove emotion from trading completely so we must prepare good trading plan to prevent emotion in trading. It will be easier to control emotion when there is clear trading plan to guide us.

    Psychology control is easy in theoritically and mostly traders knew it, but in reality is not as easy as it looks. Many traders can't control emotion in certain market condition although they have known the theory about emotion control. More practices can help trader to manage emotion well.

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  5. #44
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    We all are human beings ;) right. Hence it is very much common to be bound by emotions. Its an agreed fact that its highly impossible to avoid emotions completely, but the traders should make sure that they control their emotions while trading in the forex market for profitable trading.

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  6. #45
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    Emotions cant be removed because we all are humans so all of us have emotions in ourselves. But yes, we do have ways to rather control our emotions. One of the worst emotion is known as greedy which is very very dangerous. What i do is , that, i have a daily target of 5-10% per day and when that target achieves, i just close my terminal and then do some other work. In this way, my greed is automatically controlled.

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  7. #46
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    Your all steps is clear to me, I have emotions and for this I can not do well in the Forex market, I think that a Forex trade can earn money from the Forex trade then when he can make best use of the Forex trade without his emotions, otherwise he can not do this. And for this proper planning in the Forex trade is necessary.

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    Rookie Azis Muslim's Avatar
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    I think things like this are common. We buy a pair when the market price is below and has broken through support point. But when we buy, the charts, candlestick in particular, is still red (bearish). Here there are two possibilities that could have reversed the price then goes up or continue the trend to go down. We should first think carefully and patiently wait for the signs that prices will rise marked by a green candlestick. After that, the possibility to get profit to open a buy position is greater than before.

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    Registered user dkarev's Avatar
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    i believe this is why we need to have a trading plan,a trading plan will help reduce the emotion that might want to affect use when trading,it give us the chance to make big profit if we can trade forex without attaching emotion to our trading and if a trader is having a trading plan and the trader is trading it he/she stand a chance to make profit

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  10. #49
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    Quote Originally Posted by RoboForex Trader View Post
    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.
    Change the colour of candles is a great idea. so we will not trade with the colour, but trade with the price movement. I want to try this idea for next monday when the market opened. Thanks for your idea. I hope it can help me to reduce my emotional obstacles for my profitable forex trading

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  11. #50
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    greed and emotion are the main factor for losing in trade.for greed we maximum traders make loss because we open our trade without any proper analysis and without maintaining the money management we open trade with big lots for earning big profit and do not close our trade when it move against the market trend.i think for controlling our bad nature we can invest big capital and can trade with small lots.

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