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Thread: CONTROL YOUR EMOTIONS

  1. #1
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    Default CONTROL YOUR EMOTIONS

    There's an old saying that when the going gets tough, the tough get going. Nothing is guaranteed in life, and the Forex market is as bound by statistics as everything else. There will be times when your best-laid plans just fall apart and you end up having to take a Stop Loss to avoid losing your shirt.
    Some say life is more about how you deal with a situation than about the situation itself. How you react to the inevitable unprofitable trade says a lot more about you than how you do when everything is going well. The following ideas will help you manage unprofitable trades in a healthy way.

    Plan Effectively
    You can solve a lot of problems in life by not having them in the first place. The best way to minimize the number of unprofitable trades you make is to plan very carefully. Why are you going to trade a particular pair? If you can't answer that question thoughtfully, don't make the trade in the first place. You can take as long as you want to plan your trades, and every trade should contribute to your ultimate plan.
    The better you plan, the more effectively you'll trade.

    Learn From Your Mistakes
    Sometimes, a good theory just isn't that great in practice. If most of your trades have been less profitable than you wanted them to be, stop and consider why. Are you making assumptions that prove false? Are you favoring a particular currency or a particular pair for emotional reasons? Your ideas should always be flexible enough to change as your experience grows, and the Forex market is no place to be sentimental.
    Your trades exist only to make you money. Be ruthless in cutting out any beliefs or ideas that keep you from turning a profit.

    Shrug it Off
    No matter how solid and well thought out your plan is, sometimes a trade won't work out as planned. If you react to one or two unprofitable trades by completely rethinking your entire plan, you'll second guess yourself into analysis paralysis. At that point, you'll barely trade at all. The most important part of getting over an unprofitable trade is to realize that it's inevitable. Even Warren Buffett, one of the best investors in the world, has occasionally made bad decisions.
    Some say that failure is the seed of greater success. So long as your plan is fundamentally solid, the occasional mistake just means you're taking some risks. Since the future will always be uncertain and mistakes come from this uncertainty, a few unprofitable trades just mean you're taking enough risks to ultimately succeed.

  2. #2
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    The key of success in forex trading is we can control our emotion in forex. There are many trader who can't be successful trader because of emotion which is uncontrolled. So, let's learn how to control emotion using real account. You can make deposit with amount as you wish in FreshForex

  3. #3
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    Control our emotion is a must. If we do not have controlling skills, we will only lose our money in forex. It's not easy to be done but it's not a reason where make us give up. Keep trying and effort.

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    if we want to succeed in forex, then we need to control emotions with good trading, many traders who fail in forex because it has no control emotions well. for it to beginners can try trading with small capital to control emotions with good trading

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    Emotion should be controlled when trading. We cant trade with emotion because it's harmful for our account, even we can get margin call. Always take the positive side if we face bad situation, it will make us can solve the problem correctly.

  6. #6
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    Quote Originally Posted by tenkofx View Post
    Emotion should be controlled when trading. We cant trade with emotion because it's harmful for our account, even we can get margin call. Always take the positive side if we face bad situation, it will make us can solve the problem correctly.
    If we can control our emotion in forex, we will able to maximize our trading plan in forex. Controlling skills is very important and it's also not easy thing to do. But if we want to learn and we want to try, we can do it

  7. #7
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    It's one of the most difficult thing about trading, isn' it? I find it hard to control my emotions when I both lose or make money. The best idea - just use SL and TP orders for me.

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    Quote Originally Posted by Rita Ronker View Post
    It's one of the most difficult thing about trading, isn' it? I find it hard to control my emotions when I both lose or make money. The best idea - just use SL and TP orders for me.
    Yes, because I still learn to control emotion when trading. I think, trader can start trading with $10 first like we use cent account in TenkoFx. We can learn how to manage it, and in real trading, the psychology will be tested more.

  9. #9
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    emotional control is very important in forex trading. Because emotions can bring harm to our trading. Many have loss in forex because it is not able to control the emotions of trading well, so it will allow us to trade with the maximum. We can exercise control emotions by trying to trade on a real account using a small capital

  10. #10

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    Quote Originally Posted by CahCuncun View Post
    Yes, because I still learn to control emotion when trading. I think, trader can start trading with $10 first like we use cent account in TenkoFx. We can learn how to manage it, and in real trading, the psychology will be tested more.

    Being emotional is a basic human nature, but while trading we somehow have to take control over it.

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