Forex between emotion and mind - page 2
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As a professional trader and trained psychologist, I can say that every trader needs to learn various relaxation techniques. I would also recommend the book trading in the zone by mark Douglas.
Having control on our mind is very much essential for the traders so that they can trade with more intellectual thoughts than being over ruled by emotional thoughts.
Emotions - they differentiate humans from robots. That's why I can't say that emotions are always bad in trading. Because of them we are able to feel the market. We must block our greed.
You are right, we should control our greed and fear, but some emotions like hope and passions are good to be used in forex market.
As a professional trader and trained psychologist, I can say that every trader needs to learn various relaxation techniques. I would also recommend the book trading in the zone by mark Douglas.
That's my favorite book mate. Highly recommend to anyone.
Emotions are always deadly for a trader. Even today I closed one of my trade because of emotion and that trade just went 60+ pips in my direction afterwards.
usually emotions are strong while trading in forex market . Only some people can avoid emotional trading.it is the difficult thing to have full control on emotions specially when trades are going to profit a trader wants some more and more so he wastes his hard earned profit due to emotions.
Nobody but sociopaths can eliminate emotions. The only thing we can do is to control what impact will emotions have and when
Yes, it is between our emotion and our mind. Our mind has to fight with our emotion and when our mind makes victory over the emotion we are able to win the trades. So we should make strong of our mind.
Yeah right!Our mind should control our emotion for us to think well because if emotions takes place we cannot decide properly.
it is your emotion that controls your greed. its increased and decreased based on the state of your emotions.
when a trader is too excited and feels to sure of himself and his system, he starts trading high lots.
guess traders should invest in producing a drug that controls emotion or put emotion in check.
just like the cruise control in a car, it always return the car to the speed limit set in the cruise control.
another solution is to have a script attached to your trading platform or account.
the script will resist or refuse to execute trade others that are higher than predefined limits.
Nobody but sociopaths can eliminate emotions. The only thing we can do is to control what impact will emotions have and when
When there is risk involve, there is always fear. The higher the risk ,the higher emotions you feel.What you can do to control your risks that emotions bring,risk only the money that you can afford to lose. Never put all your money in one trade.Work first with your confidence,start with a strategy that offers a low risk.