moonchild
VIP Contributor
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.
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.