Controlling emotions that cloud your judgement

[free forex]

Controlling emotions that cloud your judgment

Some types of emotion can affect the clarity of your thinking, and so impact any trading decisions you make.

Anger

A losing trade can make you furious - often simply with yourself, for making a bad decision.

 

But we all make mistakes - it's an important way to learn. If it happens to you, as it inevitably will one day, put it down to experience and make a mental note about what to do differently next time.

 

One common impulse in moments of anger is to try and 'get back at the market' by placing another trade. This sort of knee-jerk reaction - or 'hair-trigger trade' - is nearly always a bad idea. Alternatively, you might just start buying anything and everything indiscriminately. This is known as 'shotgun trading'.

 

Take a moment to sit back and breathe deeply, then consider objectively whether your proposed trade really makes sense and is in line with your overall trading strategy.

 

Relax

Regret

Another common source of annoyance is missing an opportunity - something that's easy to do in the fast-moving world of financial markets.

 

When this happens, it's easy to give yourself a hard time about it, repeating things like 'I should have bought there' or 'I knew that was going to happen'. But this sort of mentality can lure you into traps capable of undoing all your hard work at a stroke.

 

You might, for example, be tempted to place a belated trade anyway, or to risk placing a number of trades in quick succession - known as overtrading - to set things right. You might even 'go on tilt', a particular state of mind which means you make irrational decisions, rather than those based on the merit of what's right in front of you.

 

That's why, if the moment has passed, you need a few tricks to remain clear-headed until the next signal comes along.

 

Fortunately, those tricks are as simple as taking a break, casting an eye over your original trading plan and exercising a positive mentality - remember, missing a move is not the end of the world.

 

Sentimentality

Suppose you've traded gold several times, and each time you've made a healthy profit. It might be tempting to start believing (perhaps subconsciously) that 'gold is your friend', and that it will reward you in the same way every time.

 

Gold

Once this conviction grows, there's a danger that you'll open further positions in gold without properly considering the current situation.

 

Unfortunately, the fact that a particular instrument has been profitable in the past is no guarantee that it will continue to perform for you. But likewise, if you've had a bad experience with a certain asset that's no reason to shy away from any future opportunities it offers.

 

Stress

There are times in all of our lives when events beyond our control affect our ability to think clearly.

 

It could be divorce, family illness, bereavement, or just moving house or changing jobs. All of these things will distract you from trading and could cloud your judgment.

 

The world of financial trading can be hectic, demanding your undivided attention. So when you're going through stressful periods, it's often safest to put your trading on hold until you can commit the necessary time and energy to it again.

 

summary

Don't beat yourself up about poor decisions or missed opportunities. Learn from your mistakes and look forward to getting it right next time

To avoid going on tilt when things go wrong, take a break, remind yourself of your trading plan, and wait until you're back in a positive state of mind

Remember that sentimentality and superstition have no place in trading. No market is your friend or enemy, and every opportunity should be assessed on its merits

When you're suffering from stress in other areas of your life, it may be wise to put your trading on hold

[Gee Dee]

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[Namu]

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[uncle gober]

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[Namu]

For where the learning process is a matter which we have to run, this forex business is a business which has a big risk role, so we continue to learn and learn so that where we can better understand how to trade profitably when plunging later in the real account with FreshForex broker

[uncle gober]

the process must indeed be able to run properly, this is necessary so that traders can become better and can be more leverage in carrying out trading activities, enhance experience, and become a trader of the month Tickmill.

[Baazex]

We all have the human tendency to be overtaken by emotions.When we screw up we have a feeling of loss, and even a sense of denial. We wish we could undo the mistake. Going through such a thought process is understandable. It is what you do about it that matters quitting is not an option Successful traders learn to keep emotions under control. Emotionally driven trading decisions lead to trading losses. It's imperative that you do whatever you can to prevent your emotions from interfering with your ability to trade calmly and purposefully. Disappointment and regret are two emotions that interfere with good trading. We feel disappointment when our trades lose. We feel regret when we think we have made a poor decision that might have been avoided.

[Cejurus]

There must be control over emotions, otherwise it will knock you out of a colony

[Namu]

On 2/27/2020 at 3:59 PM, Cejurus said:

There must be control over emotions, otherwise it will knock you out of a colony

for that level of trading psychology we must really pay attention and we run well in order to facilitate everything well, especially in terms of mental strength so learn and understand correctly all the facilities so that it can make trading more controlled and more profitable, and at broker FreshForex there are also many facilities that can indeed provide safe education for trade
 

[Cerendis]

Any emotions can be controlled, because indeed sometimes they can and negatively affect the course of trading.

[maspluto]

the level of emotions that exist must be able to be considered properly, this is needed and needed so that traders can become better and can get more leverage in getting the security and comfort of trading with Tickmill.
 

[Thonin]

Quite right, you say that you need to move away from those emotions that do not allow you to think soberly.

[maspluto]

the emotions that exist must be able to be considered well, this is needed and needed so that traders can become better and can get more leverage in making profits and can become a trader of the month Tickmill.

[Kataxe]

Often emotions do not allow us to think soberly

[Aurne]

We cease to think and control normally when emotions cover us.

[maspluto]

the level of emotions that exist must be able to be controlled properly, this is needed and needed so that traders can become better and can be more leverage in carrying out trading and can become a trader of the month Tickmill.

[Laidar]

When we are overwhelmed with emotions, we cannot adequately trade

[Kataxe]

You need to understand, if emotions do not allow you to think normally, then you will suffer losses

[maspluto]

a good and correct understanding must indeed be able to be run by a trader properly, this is needed and needed so that the trader can become better and can get more leverage in getting the safety and comfort of trading with Tickmill.

[Namu]

On 5/22/2020 at 9:59 AM, maspluto said:

a good and correct understanding must indeed be able to be run by a trader properly, this is needed and needed so that the trader can become better and can get more leverage in getting the safety and comfort of trading with 

mature trader capabilities can certainly facilitate management and control when trading, therefore the most important thing to do is always try and learn how to manage and control trading, and indeed in a broker FreshForex Trader can make good use of its facilities so it will be easier run it

[Fausi]

The first theoretical rule related to state control, strongly recommends to stop deifying impulses.

[gds221]

The ability to control emotions in the trading process really plays a very important role for the trader, because it greatly affects the overall result of the work.

[Laidar]

It fills our emotions so much that we cannot completely focus on trading and focus on what is happening now.

[gds221]

in my opinion, the ability to control emotions in the trading process is extremely important. I believe this is one of the most important skills of a trader.

[maspluto]

Existing trading abilities must be able to be considered well, this is done so that traders can be better and can be maximized in carrying out trading activities that are in line with expectations while on a real Tickmill account.