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  1. #1
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    "Zen masters" of trading

    Hi there!

    There is a popular myth that professional trader should be like "zen master", never letting greed and fear appear in his mind. This idealistic picture has nothing similar with reality.

    In fact, professional traders are quite different people. One can be really calm, other can be very emotional.
    But what really distinguishes pro from amateur - pro never brings his emotions to trading.

    There is one funny example, that Mike Bellafiore (Mike is an owner of large proprietary trading firm in NY) tells in his book "Playbook". Traders were sitting near their workplaces, suddenly one of them sreamed and broke the keyboard. Nobody said a word, and he just gave him a new one. In the end of the month, this trader will be charged 25 USD and that's it.

    So, emotions are normal, we can't eliminate emtions and this is not realistic.

    I would suggest to focus on more realistic goals - to follow your plan, to increase self-awareness or to execute your trades better. But not to eliminate emotions. The more you trade, the less emotional pressure you will have. It's natural thing and if you fight emotions you won't win.

    Maybe if pressure is unbearable, it's useful to lower you risk.

    Another famous example is well-known George Soros. He was so emotional, that he felt pain in his neck when something was going to go wrong.

    Bottom line: don't fight it, focus on what you can change. There is a lot to change in your trading :)

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    Last edited by Value trader; 08-09-2013 at 01:09 AM.

  2. #11
    Trader Nizar's Avatar
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    Quote Originally Posted by Value trader View Post
    Bottom line: don't fight it, focus on what you can change. There is a lot to change in your trading :)
    it is hard to not blame oneself when we have a big loss and that is a wrong behavior,if we do everything according to our trading plan then we don't have to blame ourselves because as you said there are a lot of things that we can not control in this market we can only control the way we behave and the market does the rest.

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    Quote Originally Posted by taharoyal52 View Post
    As time passes by, and if we are serious, we will surely improve a lot. No one is a born trader . No one has born skills or knowledge to trade in this business. No one has knowledge before until and unless he/she himself trades.
    So as time passes by, we can really improve. We need to show a serious attitude. We should be motivated towards our trading and should stop things which distracts us if we want to do this business for long term .
    Well, I would say more.

    Some people are not born to be chart readers, but they have pretty good chances to be good algotraders and so on.
    Trading is very wide world, where every person can find his niche.

    For me, question "Can I be a trader?" makes no sence, because there is huge variety of trading niches and styles over there.

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  4. #13
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by Value trader View Post
    Well, I would say more.

    Some people are not born to be chart readers, but they have pretty good chances to be good algotraders and so on.
    Trading is very wide world, where every person can find his niche.

    For me, question "Can I be a trader?" makes no sence, because there is huge variety of trading niches and styles over there.
    Yes sir, I think no body in this world born to be a Forex trader. We can be any kind of trader because there are lots of trading style and type of trading. We can choose what strategy we want to use and what type of trader we are. Though we have same type of trading style and strategy, but I'm sure we will have a different result. One may get a satisfied result while others lost his money.

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    Quote Originally Posted by zahid View Post
    every human being has emotion in forex trader very hard to control emotion when spicily losing, but withe the passage of time our experience increase we learn how to keep patience. some time emotion are good it give us confidence to learn, i learn on thing in my trading do not take big risk witch can effect your trading confidence.
    The way we are doing our trdaing will actually reflects i the way that we have the believe in the market, this makes this a bit complicated. But in any which way it is, it is controllable if you believe that you can change, it is only the traders that are not ready yo make a change on this that will eventually be affected.

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    Quote Originally Posted by cahyoadi View Post
    we need for have a lot experience on forex trading for able to control our self and our emotion after we get loss on our trade,because with have a lot experience we will know what we must do for our failure and we can avoid same mistakes again on next our trade.
    it is certainly very true that with proper experience most forex traders would avoid a lot of mistakes and elementary errors that most new and inexperienced traders often make. But apart from experience, discipline is also still required at all times in trading if the trader wants to stay away from greed.

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    Trader Nizar's Avatar
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    Quote Originally Posted by hridoy View Post
    yes, you are absolutely correct about professional forex trader. professional forex traders are totally different kind of people and they never let the emotion and greed into trading and also they are totally able to make consistent profits.
    the emotional control maybe the real separator between the real professional and amateur trader,so we should but that in mind and focus our efforts to try to conquer that barrier and be in total control of our emotions and actions in our journey toward being professional traders,good point we should always consider.

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    Quote Originally Posted by Nizar View Post
    the emotional control maybe the real separator between the real professional and amateur trader,so we should but that in mind and focus our efforts to try to conquer that barrier and be in total control of our emotions and actions in our journey toward being professional traders,good point we should always consider.
    Without emotional control in forex business we can not dream to become successful in this business,yes there is very much difference in traders who do trade with emotions and traders trading without any emotions,to become master in trader business traders must have to follow strict rules through which they can overcome their emotions obstacles..

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    I know a small techniques which can help a trader to eliminate to control emotions while trading. The first thing is there is no one in forex trading who can give your motivation for your trading and to keep this up. So trader need to take motivation from his own action and this motivation also keep him away from emotions. If a trade concentrate on the small profit then the same profit give him real worth and also help him to stay motivated and this whole course make it possible to control emotions.

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  10. #19
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    Quote Originally Posted by Nizar View Post
    the emotional control maybe the real separator between the real professional and amateur trader,so we should but that in mind and focus our efforts to try to conquer that barrier and be in total control of our emotions and actions in our journey toward being professional traders,good point we should always consider.
    Quite frankly about the forex trading, you need serious trading emotional balances in the market. But have you ever ask a forex trader the resaon why emotions in trading is very pronounced? I have traced this all times and found out that most traders are doing trdaing with the money they can not afford to lose, this is a very serious problem of forex trading itself.

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  11. #20
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    Yeap emotion can ruin everything in trading. Lets take example on myself, i can made 10 winnings but when i got emotion and lose only one trade then i lost my account because i use big lots size and use martingale to make it atleast break even. Unfortunately i made big mistake there.

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