How To Control Your Emotions In Trading

[moonchild]

Controlling your emotions in trading is one of the most important thing to have in your arsenal as a forex trader, because a lot of the times your patience will be tested, there are a lot of times where I will place an order on the forex markets and then price will come and rally around my order block and then it will bounce back and go in the direction that I predicted, I will then manually enter and then the price will move opposite of where I intended it to go, In situations like this we need to learn how to control our emotions, else they can get out of hand and we will go on impulsive trading that blow our accounts.

To control your emotions you have to understand what triggers you, when you learn about that the next thing to do is to keep a trading journal and adhere to it religiously, the reason why trading journal can help you in controlling your emotions is, before you take a trade you have to write the reason why you will enter and also the reason why you will exit, this will help you tremendously in staying accountable.

Learning how to control your emotions in trading is a step by step thing and you learn by practicing everyday.

 

[Suba]

Managing emotions in forex trading must be done by all traders, often the situation makes traders more heated when they want to get bigger results without thinking about risk. Many people say that forex trading is 5% intelligence and 95% emotional management. Because to achieve success requires emotional management through trading system applications, discipline and experience. There are several ways that are often used by traders to control emotions, including: Traders must set the maximum loss that can be afforded with a stop loss. Traders must be disciplined and committed to complying with the trading rules they have made. for example, if the profit has reached the target, do not continue to trade, the trader must immediately close the position and exit.

 

[Dita Walczak]

Every trader has his own way of trading and he has to remain accountable for how he trades. There are different approaches of trading like gambling, hedging, scalping, binary option, trading, long time trading, etc. Different traders have different approaches over these types. Eurotrader can be a perfect choice for all the above trading approaches.

 

[FXOchartist]

Emotion indeed has high role in trading, when traders tendencies to open trades although the market still in difficult time or move on the sideways market will often facing loss because impatience. How to control emotion in trading need high intention to work in trading based rules trading system and also money management. Trading forex is combination between knowledge, money management and risk management and also psychology trading. How to control emotion need strong psychology with good mindset. Sometimes trading face to loss, here traders can take a break and using demo account to continue practice, in FXOpen provide demo ECN for backtest trading.

 

[Ivo Zetticci]

A reliable broker is needed for scalping and I know Eurotrader as a reliable broker which is powered by smart bridge technology and allows traders with a 111% deposit bonus. The broker uses smart bridge technology to ensure traders smoothness of trading.