How to reduce the emotional obstacles for a profitable forex trading? - Page 27
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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. #261
    Trader cowek ireng's Avatar
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    in my opinion each traders are able to reduce their emotions in trading are getting close to success in their business in here, in many cases many traders who get big loss even get margin call being unable to reduce our emotions when trading of forex market

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  3. #262
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    Quote Originally Posted by mustafagrace View Post
    Emotions plays very important roles in the Forex trading. If we make the trading with the emotional expressions then we may have a chance to lose the money. So we must avoid from the emotional trading.
    We must done the trading as the market suitable. we must make the analysis and study the behavior of market before starting the trading. emotional trading is very harmful for the traders.
    emotions is part of the human nature, we can't eliminate it, just control it. I agree with you, in trading we must to avoid when the mental and psychological conditions are not stable. Because it will affect us in making decisions. If we loss at the day, closed MT4 and leave trading activities while, do a refresher to perform other activities that can help relieve stress and re-fresh.

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  4. #263
    Trader lawners1791's Avatar
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    Quote Originally Posted by bendang View Post
    emotions is part of the human nature, we can't eliminate it, just control it. I agree with you, in trading we must to avoid when the mental and psychological conditions are not stable. Because it will affect us in making decisions. If we loss at the day, closed MT4 and leave trading activities while, do a refresher to perform other activities that can help relieve stress and re-fresh.
    good emotion to control with the rythm with the running of the work. that good trader keeps with the manage to stay with the good projection to follow the presettled rules bythe initials and spends more with the focus to avoid the use of the overlimit trading to manage stable spends with the request. refreshing with the use of the chat bythe forum or to plan a real trip to dubai for ecample.

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  5. #264
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    Quote Originally Posted by lawners1791 View Post
    good emotion to control with the rythm with the running of the work. that good trader keeps with the manage to stay with the good projection to follow the presettled rules bythe initials and spends more with the focus to avoid the use of the overlimit trading to manage stable spends with the request. refreshing with the use of the chat bythe forum or to plan a real trip to dubai for ecample.
    I think that the best way to control the emotion is how we do it with a good trade on money management in trading so it can adjust the money management in trading well then this is one way we will be successful in this business and this will bring our merchants will be good at doing and controlling emotions

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  6. #265
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    Quote Originally Posted by RoboForex Trader View Post

    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.
    This is something new. I never new that color can also effect our mind! But it is true that after seeing a bunch of upward Green colored candles it is tough to go against it. It seems that the market is in strong bullish momentum. Or sometime the reverse happens. We think that the market has climbed enough now time to reverse. In both cases we might prove wrong. Changing the color is surely an idea to try.

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  7. #266
    Trader lawners1791's Avatar
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    Quote Originally Posted by RoboForex Trader View Post
    To Set an order and forget



    Once you figure out where is the level of support (ask), level of your protective stop loss order and profit target, and decide you want to use this trading opportunity, you can use this tripartite order to really staying out of the deal.

    You can (and should) move away from your computer, and the transaction will be fully realized without your participation. This is - a unique way to reduce the emotional challenge of trading and to have more free time.
    yes that is to prepare better with the good system and techicals with the entry with the work to call the use with the strategics with the number with the presettled arrange with the initials to left further and work more with the good customs with the monitoring if required,

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  8. #267
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    Quote Originally Posted by RoboForex Trader View Post
    Focusing on risk

    Two facts incidental to trading cause discomfort for most people. First, there is no certainty about the future results, and second, you will have losses. You have to realize that the best traders - those who know how to adjust the loss properly, keeping the size of the loss (not necessarily the frequency) at a minimum.

    For example, when the price is approaching the level of resistance for opening a short position, you may have different thoughts that determine whether you succeed as a trader or not.

    The idea of the novice trader is aligned with concern over the possible price going down, and the possible negative outcome, in case the trader is wrong. At the time, as consistently profitable trader is actually very calm, because he knows that the trading opportunity suggests a very low risk, as he opens position as close as possible to the protective stop order.

    Make sure that you always fit your position size to the level of risk at which you feel comfortable. And when it comes time to enter the market, rather than to watch the schedule and fear of potential losses, focus on how a low risk this trading opportunity involves.
    You are right about this, when i open position and then I focusing on risk, I get the trading so easily, I focus on how the price trigger the STOP LOSS, I use good money management, because in my thought the trading produce the loss result, nevertheless I'm using good trading setup to get good profit. but the result is the trading becoming profit. This reality that happen to me.

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  9. #268
    Trader layigold's Avatar
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    People have really given useful contributions and they are all educative but in my own case, I have been able to reduce emotional obstacle by avoiding lower time frame in analyzing the market because signal seen on lower time frame are less likely reliable. I trade higher time frame with good money and risk management.

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  10. #269
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    Working good and i am sure if peoples follow your rules then they can control on emotions.. and this is very important for traders because if traders will never control on emotions then they can loss money and they will fall down into market in the future..

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  11. #270
    Trader dkarev's Avatar
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    Quote Originally Posted by layigold View Post
    People have really given useful contributions and they are all educative but in my own case, I have been able to reduce emotional obstacle by avoiding lower time frame in analyzing the market because signal seen on lower time frame are less likely reliable. I trade higher time frame with good money and risk management.
    that is the beauty of trading from higher time frame,one will face lesser trade but the profit in there is huge as well and moreover it really help reduce emotion trading,personally i trade from weekly to daily chart and to be sincere the result ever since i move to this time frame has being a revelation in my trading.

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