Emotion Free Trading - page 2

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MKRoxton:
Hello,

know one here, how I can trade without emotions by trades without Stoploss and TakeProfit?

Thanks!

MKRoxton

Get drunk.

 

hi

MKRoxton:
Hello,

know one here, how I can trade without emotions by trades without Stoploss and TakeProfit?

Thanks!

MKRoxton

you must use SL and TP to limited the risk , use EA if you want to trade without emotions

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Forex Indicators Collection

 
MKRoxton:
Hello,

know one here, how I can trade without emotions by trades without Stoploss and TakeProfit?

Thanks!

MKRoxton

Trading without emotion takes practice and a system you are confident in. I trade without a stoploss and takeprofit (I don't recommend it). I only do it because I constantly monitor my trades. I also have the discipline to get out of a trade the second I get an opposing signal. I don't try to chase after extra pips. If your system is good and your comfortable with it, it's easier to trade the signals only and leave emotion out of it. Money management is very important. Trying to make up for lost trades will get you in trouble.

 

okay! very interesting, tell me what role does Greed plays in trading? would love to have your comments on this!

 

Thanks for replys!

Hi,

@ Enforcer

Can you realy trade, when you are drunk?

@ prasxz

I hope I can consider my strategy for make TakeProfit-Points and StoppLoss-Points.

Thanks.

MKRoxton

 

can we NAME the emotion

that get us into ENTRY

or hold / hedge a wrongly ENTRY trnsaction

 

New traders that loves trading are often hook to it like if it was drug. It might even be better. It's like compulsive gambling. Time (years) will help you control your self, From a gambler you'll become a trader.

Do prove your self on a demo account first, doubling an account twice, i think is a must before investing real money, then you'll be a confident trader.

Low risk is ok, 1% profit a day is easy goal and can make you very rich very fast.

I'll read those e-book. Thank you.

 
xx3xxx:
can we NAME the emotion

that get us into ENTRY

or hold / hedge a wrongly ENTRY trnsaction

Fear and Greed.

 

Here's a quick check on how you handle your emotions in the market.

1. Pick a trading system.

2. Trade it until you feel that it has an edge that works.

3. Sooner or later, your system will produce a string of losses.

At this point, do you:

A. Stick to the system, trade it as before

or

B. Try to change the system, add / remove something, or stop trading it all together?

And finally, if you do A above, how many losses can you sustain in your account before your system makes money again?

 
xx3xxx:
]Fear and Greed.

like the answer, I am scare of the uptrend and downtrend slope -- worry that I do not have a BEST opportunity of ENTRY

any indicator to overcome that

( I am looking for some indicator that tell the truth, and fit my way of thinking, and don't get me too panic -- when things does not go my way)

so far, I could accumulate daily loss, but too chicken to go for REVERSE TRADING (it should produce constant win -- theoreticaly)

will you suggest something for me ??

=====================================

Some thoughts...

1. There is no BEST entry. There is only the entry that you get at the time you trade.

2. No indicator tells the truth. What is truth? Many traders don't use any indicators at all. You'll have to learn to read the market, and be familiar with what happens on a seasonal / monthly basis.

3. Not sure what you mean by Reverse Trading. Do you mean stop and reverse? Many systems are based on this principle, that you are always in the market, either long or short. This can be difficult in sideways markets.

4. If you're not sure what system to use, simply start with one you can understand. It's crucial to understand what each indicator is telling you, and what each indicator's job is. Make sure you understand WHY the indicator is giving you a signal. If you are new at this, just use two moving averages, and trade when they cross. You can actually make money this way if you trade every signal you get. You will also take losses. All systems are like this.

5. If your system produces more losers than winners, but the winners are large compared to the losers, then it is still a good system.

6. All new traders should use stop losses. Its hard to admit being wrong, so let your stop tell you and get you out.

7. My idea of a profit target is whatever the market is willing to give me, not some random number. My leading indicator's signal is also my signal to exit.

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