TGF Premium ⭐ analyst75 Posted November 6, 2014 TGF Premium Share Posted November 6, 2014 “After placing the orders, we leave the rest to the market forces.” – Sam Evans Good traders make a new trade regardless of the outcome of the last trade. However, rookies often allow irrational emotions to guide their actions when they are making trading decisions. Why are some traders always frustrated while others play the markets joyfully? Let’s read some cogent examples. 1. The bad trader is afraid to make a new trade because of the fear that it may lose. This fear comes regardless of the fact that the setup may be flawless and there’s no reason not to trade the setup. On the other hand, as long as the entry criteria are met and there’s no reason not to enter the trade, the expert wouldn’t hesitate to take the trade. 2. The bad trader tends to be fatalistic in outlook, thinking that trading is a scam or that permanent success isn’t attainable. On the other hand, there are more than enough proofs that trading success is possible, plus permanent success. The expert always keeps their chin up. When facing roll-downs, the expert knows it’s a fleeting experience. 3. While there is no reason not to trade a setup, the bad trader feels that a trade setup needs much more time to consider before an execution is made. She/he wants lots of confirmation and guarantee before opening a trade, without knowing that one can trade the best setup and still lose. 4. I was doing it before; I used to check several different websites for fundamental, sentimental, and technical confirmation before I took a trade. I wanted to be sure that most pundits were saying the same thing before I took a trade. Needless to say, I still lost in spite of my painstaking effort. The expert trader is satisfied with the limited information she/he has access to. We don’t need to look for complicated analysis or think that there must be a million reasons supporting a setup, before we trade the setup. No matter how beautiful a strategy is, it would still sustain occasional losses. You may think that a particular trading methodology is wonderful, but when it goes thru baptism of fire in charting effort, we’d see how it can survive. When risk is under control and the performance is enhanced, the results can then be optimized. When a position first goes in our favor before reverting to the opposite route, we can get out without sustaining any loss on that trade. Irrational emotions are the reasons why the bad trader is worried while trading, getting frustrated or hesitating to take a trade and eventually missing a great trade or sustaining huge negativity in the markets. Rational emotions are the reasons why the expert trader is calm when trading – being profitable overall. We evaluate the motion in the markets as money-making opportunities and when we consider the cost of each trade (particularly low spreads), we’d appreciate the benefits over time. We’ll only consider the probability of making money after we also put spreads into consideration. Since there is a cost for each trade, we wouldn’t want to overtrade. The quote below ends this article: “Strange as it may seem to some, my trading has evolved to a point where I no longer attempt to predict whether stock prices will rise or fall… I found that most of my profits came as result of simply cutting off trades that were either losing or giving up their previous gains; and I could profit from trades entered practically on the flip of a coin.” - Chris Ebert Link to comment Share on other sites More sharing options...
tenkofx Posted November 13, 2014 Share Posted November 13, 2014 Certainly trader successful reverse trader failed because more than one reason that a successful trader is always trying to looking for a distinctive and easy way to profit in the Forex failed while trader is those who can not work and always fails and it is difficult for him to work in Forex without proper knowledge, experience and technique a trader can easily become a looser. on the other hand trading with no emotions and proper knowledge and experience may lead you to a winner trader. Link to comment Share on other sites More sharing options...
fxapex Posted November 14, 2014 Share Posted November 14, 2014 Emotion is not the only reason but its one of the reason why most of the people make loosing trades, being emotionally strong is certainly an asset in forex trading. Link to comment Share on other sites More sharing options...
TGF Premium ⭐ analyst75 Posted November 19, 2014 Author TGF Premium Share Posted November 19, 2014 “Learn From the Generals of the Markets” – Almost Free Copies Now Available In a recent interview in TRADERS’ magazine (November 2014), Ian Cassel says: “Always surround yourself with people that are better than you. Your friends have far greater influence over your future than you think. If you want to be successful, start hanging out with successful people. If you want a better marriage, hang out with other couples that have a great marriage. Your life will change for the better.” How true is this statement! When you hang out with those who hate trading, those who’ve been floored by the markets and sworn not to have anything to do with the markets again, those who’re afraid of the challenges the markets offer, those whose job is to discourage you from attaining your goals in life, you can’t become successful in the markets. We need to surround ourselves with successful traders or at least, read about them, plus the principles that can be learned from them. The 20 generals of the markets featured in this book below will inspire you and reveal the principles behind their success. You’ll do yourself a great favor when you buy the eBook; now at a giveaway price. For a limited time only – just a few days – you’ve the opportunity to get the eBook version for 0.99 GBP, which is almost free. Here are the links: http://www.amazon.co.uk/gp/product/B00KA70YW2 http://www.amazon.com/dp/B00KA70YW2 Link to comment Share on other sites More sharing options...
tenkofx Posted November 21, 2014 Share Posted November 21, 2014 A winner knows he needs to continually work on his feelings and emotions related to his trading business as he grows in success and equity. A loser knows that he only needs to buy additional software and systems and perhaps attend the "latest guru’s" trading method to achieve what he’s after. Link to comment Share on other sites More sharing options...
fxapex Posted November 21, 2014 Share Posted November 21, 2014 A winner knows he needs to continually work on his feelings and emotions related to his trading business as he grows in success and equity. A loser knows that he only needs to buy additional software and systems and perhaps attend the "latest guru’s" trading method to achieve what he’s after. Exactly emotion is basic human tendency, and it cannot be eradicated in one attempt, it can be controlled by spending as much time as you could in the market. Link to comment Share on other sites More sharing options...
Abhishek Singh Posted August 9, 2015 Share Posted August 9, 2015 You can’t pin point it 100% because there are other things that plays their part and one of most important thing is knowledge and experience, so when it’s missing the emotions get stronger. I believe that the only way to have good control over emotions is that we don’t put anything online that we can’t afford to lose or at least trade only when we are certain. I am using OctaFX broker where they have very good facilities especially allowing me to start with just $5, so with little amount it helps me work easily. Link to comment Share on other sites More sharing options...
TGF Premium ⭐ aliforex Posted August 10, 2015 TGF Premium Share Posted August 10, 2015 The simplest way to view the difference between a “winner” and a “loser” is winners have created positive thinking, habits and traits of character. Good traders make a new trade regardless of the outcome of the last trade. However, rookies often allow irrational emotions to guide their actions when they are making trading decisions. Link to comment Share on other sites More sharing options...
Guest gaban Posted August 12, 2015 Share Posted August 12, 2015 If we want to succeed in forex then we need to be able to minimize the emotional trading. By having good emotional control will allow us to trade with the maximum. therefore, try to learn to control your emotions so well that would allow us to trade with a maximum Link to comment Share on other sites More sharing options...
Abdul Razzaq Posted August 25, 2015 Share Posted August 25, 2015 Although emotions definitely makes huge difference between winner and loser, but at the same time it is our previous hard work that decides a lot of stuff. I believe if one has good level of education and experience than he can easily control emotions, but without having that it is going to be very tough for us to have control and for me it has been a really good journey right from the start till now due to Nova FX broker which has perfect section for education. Link to comment Share on other sites More sharing options...
TGF Premium ⭐ aliforex Posted August 26, 2015 TGF Premium Share Posted August 26, 2015 Sometimes managing your emotions can be just as difficult spotting new opportunities. Both, however, have a say in the overall profitability of the trader. The markets don't remember, they don't hold grudges and they hold no one in favor. So neither should you. Taking emotions out of the trading equation is often the best thing a trader can do to improve profitability. Link to comment Share on other sites More sharing options...
Guest gaban Posted August 26, 2015 Share Posted August 26, 2015 loser trader is a trader who trades with emotion, emotions will only make our trading experience many losses. Forex is a business that is difficult for us to figure out. so we need to minimize the emotional trading well to be trading with a maximum Link to comment Share on other sites More sharing options...
Jack Nitschke Posted September 4, 2015 Share Posted September 4, 2015 Yes, it is definitely a massive difference between successful trader and ordinary one to have emotions in check, if we are unable to have that type of control than I am sure to say, but success is not easy coming for anyone and the quicker we are able to understand the better for our progress to right direction. I am extremely lucky that I am with high quality company OctaFX where this difference is not much with their supportive conditions especially with rebate service where I get pretty big chunk of cash back on every trade and it goes up to 50%, so that’s really handsome figure and helps me control emotions much easier due to knowing I am able to make stable earning. Link to comment Share on other sites More sharing options...
uncle gober Posted September 8, 2015 Share Posted September 8, 2015 I think it’s not just because of new or old trader but it is a thing that comes naturally so no matter how much we learn or read books and all that things yet emotions control is a completely separate part and even the best at times are unable to have control over this. I am lucky that I am trading with TICKMILL, it has excellent service where not only they help us in trading with wonderful conditions like low spread starting from 0 in Exchange account and also their quality demo account itself is a perfect place for newbies to learn plus able to get full over his emotions which is only possible with consistent hard work, determination and passion. Link to comment Share on other sites More sharing options...
TGF Premium ⭐ aliforex Posted September 15, 2015 TGF Premium Share Posted September 15, 2015 you have to make decisions not on your emotional quotient, you should be very practical and little distractions should not effect your decisions. You will get stronger as you keep on trading , the more you trade the less you take decision emotionally. Link to comment Share on other sites More sharing options...
Guest gaban Posted September 16, 2015 Share Posted September 16, 2015 winning trader is a trader who is able to control the emotions of trading well, for it to be a winning trader then we need to have a good trading psychology. With good psychology will allow us to trade with the maximum. For that, try practicing psychology of trading to try trading in a real account with small capital Link to comment Share on other sites More sharing options...
TGF Premium ⭐ aliforex Posted January 13, 2016 TGF Premium Share Posted January 13, 2016 Winners always know that loss is part of forex and so do not so out of control emotionally when there is a loss. They are very well discipline and never make trading decisions with the influence of their emotion. Link to comment Share on other sites More sharing options...
Jack Nitschke Posted February 24, 2016 Share Posted February 24, 2016 It will be incorrect to put entire thing on emotions, but emotions definitely play defining role in many situations, so that’s why handling of emotions can be so important and perhaps can be the ultimate difference between loser and winners. I think we will not find it easy to control or handle emotions just like, so that is why practicing is so crucial and makes the big difference. I am working with OctaFX broker and with them, I am able to trade really easily especially through their Southampton Supreme demo contest with having unlimited prizes, it really makes trading fun for me and also helps me get control over things like emotion and makes me really comfortable with real account trading. Link to comment Share on other sites More sharing options...
TGF Premium ⭐ aliforex Posted March 4, 2016 TGF Premium Share Posted March 4, 2016 Emotions will be adversely affected trading that we do so we need to control emotions with trading money management is the discipline of applying to the stable. Traders who can do this can make trading more fun Link to comment Share on other sites More sharing options...
Guest gaban Posted March 8, 2016 Share Posted March 8, 2016 psychology can affect the emotions of our trading, trading with emotions is a characteristic trader loser, therefore we need to be able to minimize the emotions by trying to trade with small capital used to be like $ 1 to train good trading psychology Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now