How to control you emotions

Discussion in 'For novice traders' started by Francmorio, Sep 25, 2017.

  1. Francmorio

    Francmorio Member

    Other than coming up with the best strategy, the best thing one should learn is to have is a full control of their emotions. Never overlooking the importance of controlling your emotions; if you're to succeed in forex, your emotions must be put at bay. While I'm not going to provide an absolute solution to controlling your emotions, it will help you in understanding certain thing you're probably overlooking.

    You want to control your emotions, first control you breath. Their is power in learning to master your breath, before every day trading, take deep breaths for almost 15 minutes. In through your nose, and out through your mouth. That way, you ease the previous tension, emotions cannot be seen, neither can breath be seen. Since both cannot be seen, but their effect can be seen; if you can control one, you'll ultimately control the other. If you're a constant meditator you understand what I mean!

    "WANT TO CONTROL YOUR EMOTIONS, FIRST, CONTROL YOU BREATH" thats the key
     
  2. andengireng

    andengireng Member

    From anger management perspective, anger can be seen as an aggression cycle consisting of escalation, explosion, and post-explosion. Therefore, when you are angry, calm down so your aggression cycle falls apart. With a calm mind, you can think logically and find a solution.
     
  3. Roman Rias

    Roman Rias Member

    It is not easy at all to control emotions because they are directly connected to your level of knowledge and experience, if you have sufficient knowledge and experience then you can easily make big profits. But if you lack that then you will struggle.
     
  4. The best way to control emotion is that we practice on demo account. If we do regular practicing then it will really help us with reducing emotions and will be able to focus on making right plans and strategy.
     
  5. ibm'73

    ibm'73 Active Member

    There are several ways to control your emotions:

    1. Try to invest your time to analyze market rumors, before making any trade transactions. Knowing the clarity of the market direction will make it more confident and calm.

    2. Do not over confidence! It's better to enter 1 lot than 2 lots if it will burden the mind.

    3. Do not be too push yourself to participate in the transaction, if you are not sure the direction of market movement. Better to wait or postpone transactions rather than the wrong positions that cause emotions and psychology to be affected.

    4. Try to build a winning psychology! It is always advisable to be able to win (profit) at least 3 times in this forex trading. This is to build a winner's psychology instead of a loser (looser). A boxer who wins in his inaugural match will have the psychological impact of the champions in the next game.

    5. Create a daily target, close the position if it is on target. We can gather with our friends in the real world or play FB, continue our work routines and others.

    6. Always condition yourself in as comfortable as possible when entering the market for execution buy or sell. Man is blessed with three virtues bestowed by the creator, the mind to think, the heart to pray, and also the time. For that use the three graces from God as well as possible.

    That way, trading will be an effort to balance. A trader should focus on profits and be able to respond to losses and try to balance the two. A trader is obliged to concentrate on the probability of the method and concentrate on the information provided by the market. That way your trading will be more accurate and reliable.
     
    Nia likes this.
  6. Nia

    Nia Member

    yes it is true the statement above
     
  7. NewbieTrader

    NewbieTrader Member

    For me, planning and sticking to your plans are the keys to keep yourselves away from emotions during trading. regardless what happens, just stick to that plan you've arranged with cooler head.
     
  8. Tengkorakfx

    Tengkorakfx Active Member

    "WANT TO CONTROL YOUR EMOTIONS, FIRST, CONTROL YOU BREATH" But to me, you must to fix your thought, first. that's the key!
     
  9. NewbieTrader

    NewbieTrader Member

    is that a reference to a movie? :D yup, thought and mindset. control that is the key to success. pretty much in everything.
     
  10. Tengkorakfx

    Tengkorakfx Active Member

    hahaha, which movie? is that sentence remind you to some movie? :D yeah, that's what I meant. set the right mindset!
     
  11. NewbieTrader

    NewbieTrader Member

    hahahah, not in particular. but it sure does sound like it came out of Sean Penn's assassination line. hahahah :D
    let's keep up with the right mindset!
     
  12. Tengkorakfx

    Tengkorakfx Active Member

    Hahha.. Okay, then. let's we keep up with the right mindset for get the right profit, then the right income. great!. :D
     
    NewbieTrader likes this.
  13. NewbieTrader

    NewbieTrader Member

    Let's! :D
     
  14. Tengkorakfx

    Tengkorakfx Active Member

    I might to mention about overconfidence. It's really crucial since it's related to our risk management. It's better to just risk arounc 2% of our deposit in a day or in a single trade (if you're a swing trader) and stop when you have your daily target achieved (please, don't be greedy on your target)
     
  15. andengireng

    andengireng Member

    Try to build a winning psychology! It is always recommended to be able to win (profit) at least 3 times in this forex trade. This is to build the psychology of winners instead of losers. A boxer who wins in his first match will bring the psychological impact of the champions in the next match.
     
  16. broforex

    broforex Member

    Making a decision to execute A sell or buy order requires a trading system that is run with discipline, to override trading emotions. When we have rules for opening and closing positions, and having an understanding that the discipline of the trading system must be applied, then we no longer need to worry or panic if prices move beyond initial expectations.
     
  17. broforex

    broforex Member

    In my opinion, they are fails because they don't follow the trend. Follow means to follow or it could mean catch up, pursue and embrace. So, in the world of trading follow means to follow the trend that is happening. So the adherents of this trading style they are only looking for trading opportunities in one particular direction only. Follow trend has the characteristic of opening the order in the form of pending stop.
     
  18. JamesDourb

    JamesDourb Active Member

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  19. liafatlouie

    liafatlouie Member

    Based on my experience first step ini this bussiness, it is recommended to trade on a demo account first. Once you are more familiar with the various technical aspects of trading, you may opt for a live account. In any case the first step is to start with a pennies or little account.
     
  20. broforex

    broforex Member

    Emotions is the key to success in forex trading. For now, I tried to use compounding method, so I'm not increasing my reward but I open new position with the bigger lot. I think this strategy is more powerful, how is your opinion guys?
     

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