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Thread: How to improve our psychology control in trading?

  1. #1
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    How to improve our psychology control in trading?

    Expert traders need to control psychology in trading, but the question is how to train our psychology so we can trade not only following emotion. I think almost all traders have known the theory about psychology control but in reality, it is not easy to control it well especially when condition of market is different with our expectation as our first analysis. So what do you think about improving our psychology control? How to do it and how to know that our psychology has been improved? Feel free to express your opinion here.

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  2. #331
    Trader xauyuro's Avatar
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    Quote Originally Posted by andry777 View Post
    Expert traders need to control psychology in trading, but the question is how to train our psychology so we can trade not only following emotion. I think almost all traders have known the theory about psychology control but in reality, it is not easy to control it well especially when condition of market is different with our expectation as our first analysis. So what do you think about improving our psychology control? How to do it and how to know that our psychology has been improved? Feel free to express your opinion here.

    my way to control my psychology in trading is that I don't force myself to enter the market when my mood isn't good. because this indirectly affects the results of my analysis and also my traditional entry. in conditions not in the mood coupled with facing floating minus then this definitely makes me depressed.
    besides, I always make a trading plan. when the market goes not according to my plan and strategy, I will be patient waiting for another moment.
    if I experience a loss, I will pause, not look at the chart, not read things related to forex. I focus on making myself happy so that my mood and spirit will recover and be ready to recover my losses

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  3. #332
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    Lightbulb ¿Cómo mejorar nuestro control de la psicología en el comercio?

    Miranda Ofarre is a trader dedicated to her psychologist profession and has a career of more than 7 years in the Foreign Exchange Market, having worked for large banking entities, such as JP Morgan. Over the years, Miranda learned how to control her emotions and achieve a balance "in the vast emotional spectrum of trading."
    Miranda does not believe in intuition or empirical working methods, that is to say that her method of working with the market is based only on technical analysis and scientific arguments. In the same way, the basic analysis is indifferent, since it only relies on technical indicators, using a completely successful technique. Throughout his career, Miranda Ofarre establishes principles that are fundamental as controlling his emotions and achieving a balance "in the vast emotional spectrum of trading." This is a very important reason for the success and failure of the trader. Having a clear commercial strategy and being able to analyze exactly the market, most traders record losses due to the inability to control their emotions.

    miranda.jpg

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    Last edited by Marito; 07-25-2019 at 01:57 AM.

  4. #333
    Trader J_C_Anderson's Avatar
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    For sure, emotional balance is very important in trading. Many traders fail just due to the psychological issues because it is not enough to have deep understanding of the market or a profitable strategy, but it is necessary to be able to control emotions appearing during trading process. First of all it is important to build a trading process when each trading decision would be based exclusively on rational conclusions rather than on emotions an feelings. Of course, it is impossible to avoid emotions at all, but it is necessary to reduce their impact on trading process.
    Traders need to be confident in their strategy to be disciplined enough to act strictly in accordance with its rules. In other words, trader has to believe that the decisions based on strategy rules are optimal in present conditions. There are several ways to make sure that the strategy itself is profitable. The simpliest one (and the most efficient) is to backtest it using special software like Forex Tester. Backtesting is a special process of executing simulated trades using historical data. As the result, trader will get a detailed report on the perfromance of the strategy containing information on most important criteria like risk-reward ratio or win rate. Trader be much more disciplined knowing that his strategy offers him the best possible opportunities. It is very important to build trading confidence not on hope and assumtions, but on reliable information such as backtesting results.

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