moonchild
VIP Contributor
One of the most challenging aspects of this job is controlling your emotions. It can be all too easy to get swept up in the highs and lows of the market, making decisions based on fear or panic rather than good judgement and your strategy, it happens to even the best of us. here are some nice tips that I think will help you control your emotions as a forex trader
- Stick to your trading plan - Before you start trading, create a plan that have your strategy, goals, and risk management. Then, stick to it, it is your savior on days when the going is not good. don't let fear or greed dictate your trades, it is hard to achieve but it is certainly doable.
- Use stop-loss orders - A stop-loss order can help you limit your losses in case the market moves against you, I say this all the time. by setting a stop-loss order, you take the emotion out of the equation and let the market take its course, which is a very smart way to trade.
- Take break as much as you can - Forex trading can be stressful, so you should take regular breaks. step away from your computer screen, go talk to girls, go practise your hobby, play games or watch youtube videos
- Stick to your trading plan - Before you start trading, create a plan that have your strategy, goals, and risk management. Then, stick to it, it is your savior on days when the going is not good. don't let fear or greed dictate your trades, it is hard to achieve but it is certainly doable.
- Use stop-loss orders - A stop-loss order can help you limit your losses in case the market moves against you, I say this all the time. by setting a stop-loss order, you take the emotion out of the equation and let the market take its course, which is a very smart way to trade.
- Take break as much as you can - Forex trading can be stressful, so you should take regular breaks. step away from your computer screen, go talk to girls, go practise your hobby, play games or watch youtube videos
