What are the tips that can help me to control my emotions while trading? - page 2
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Our emotion can hinder us from reaching our goal .In trading we can get stress most especially when position begin to turn against us. And so planing each trade and planning how we can react to each situation can help us manage emotion . And again being discipline to strictly follow our trading plan can help alot.
I think being discipline and having a good trading and sticking to every part of your plan no matter the direction of the market trend will go a long way in controlling emotions in trading.
Try and automate your system if you can not control your emotions and let it do the job for you.
I follow this 5 step to control my emotion. You guy`s also can try:
*Learn Something New About Trading
* Perform Some In-Depth Market Research
*Paper Trade Until You Fall Over
*Write A Trading/Business Plan
* Analyze 5 Completely New Charts
Discipline in the only remedy I know to help control your emotions; if you are disciplined enough to follow your trading plan no matter the direction of the market. It should be enough master your emotions since you are now indifferent to them.
We should possess great psychology in order to manage the sentiment. You can make use of touch to master controlling sentiment. Alongside that will, we've got to possess rules regarding buying and selling. Try and familiarize our self regarding buying and selling with all the rules and try and improve the buying and selling expertise to maximise the buying and selling consequence whenever buying and selling.
Having a trading plan can help control your emotion . And also being discipline will help you to stick to a plan and following it closely and not allowing emotion to ruin your strategy.
Learning how to control emotion is one good part of trading experience. One way to succeed is by planning your trading and sticking to your plan no matter the situation of the market.
Sticking to a plan that does not work is probably cause no 1 for account blowing. That is a myth that has been sold to traders. If you do not change according to market changes, you will lose
you have to stick to your plans and never let greed get the best of you.
also you had to have a good money management.