fear or emotional reactions

[Arafx]

Could you share a personal experience when fear or emotional reactions affected your trading, and how did you overcome it or learn from it?

 

[thomassup]

Early in my trading journey, I experienced a moment of fear and panic when a sudden market drop wiped out a significant portion of my account. I impulsively closed my positions, locking in a substantial loss.

However, this experience taught me the importance of staying calm and sticking to my trading plan. I implemented better risk management strategies, diversified my portfolio, and practiced disciplined trading. Over time, I learned to control my emotions, which ultimately led to more consistent and profitable trading.

 

[Paulina_wagner]

In the midst of a market plunge, fear led me to close a trade prematurely, costing me potential profits; this taught me the importance of staying composed and sticking to my trading plan.

 

[Arafx]

Early in my trading journey, I experienced a moment of fear and panic when a sudden market drop wiped out a significant portion of my account. I impulsively closed my positions, locking in a substantial loss.

However, this experience taught me the importance of staying calm and sticking to my trading plan. I implemented better risk management strategies, diversified my portfolio, and practiced disciplined trading. Over time, I learned to control my emotions, which ultimately led to more consistent and profitable trading.

It's incredible how learning from those early challenges can shape us into more disciplined and successful traders.

 

[Arafx]

It's incredible how learning from those early challenges can shape us into more disciplined and successful traders.

Your experience underscores the significance of discipline in trading. It's a reminder we can all benefit from, especially in challenging times.

 

[Komondar]

You need first of all develop trading plan

 

[Komondar]

I practice meditation and short physical activity. running or swimming is a combination of meditation and physical activity

 

[bigdolly]

Early in my trading journey, I experienced a moment of fear and panic when a sudden market drop wiped out a significant portion of my account. I impulsively closed my positions, locking in a substantial loss.

However, this experience taught me the importance of staying calm and sticking to my trading plan. I implemented better risk management strategies, diversified my portfolio, and practiced disciplined trading. Over time, I learned to control my emotions, which ultimately led to more consistent and profitable trading.

Didn't you use stop loss? This feature is especially designed to prevent or avoid such situations

 

[Doomsinger]

Yeah, I have a plethora of such stories and I bet others too, because emotional reactions are inherent to those who only make first steps in trading, so, consequently, each trader has ever encountered emotional turmoils.
Back when I tried trading for the first time, I had only loss streaks, seriously. There were a couple of successfully closed deals, but as you can understand, my margin got devastated each time real quick.
I just continued trading, continued sorting things out like "why I exited the deal so quick not waiting for the better price" or "why I was afraid of entering this deal right when all indicators said me do it"... It has helped me to become way more stable and calm.

 

[bigdolly]

Yeah, I have a plethora of such stories and I bet others too, because emotional reactions are inherent to those who only make first steps in trading, so, consequently, each trader has ever encountered emotional turmoils.
Back when I tried trading for the first time, I had only loss streaks, seriously. There were a couple of successfully closed deals, but as you can understand, my margin got devastated each time real quick.
I just continued trading, continued sorting things out like "why I exited the deal so quick not waiting for the better price" or "why I was afraid of entering this deal right when all indicators said me do it"... It has helped me to become way more stable and calm.

Certainly, embracing the valuable aspect of learning from our mistakes is an integral component of our journey. In the world of trading, much of our progress is rooted in a process of trial and error, which is inherently devoid of perfection. Mistakes serve as a wellspring of invaluable information, offering us the opportunity to refine our skills. After dedicating some thoughtful time to reflect upon these errors, I consistently find myself arriving at intriguing and innovative solutions.