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Remove your emotions as much as possible.

Discussion in 'Beginners Bootcamp' started by Jeff Martinez, Oct 17, 2017.

  1. dianajs

    dianajs Private, 1st Class

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    Do you have any advice about how to do that?
     
  2. Naxramos

    Naxramos Recruit

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    Emotions will kill you in forex trading. The two biggest emotions in forex trading are greed and fear. You need to remove them as far as you can. These two will kill all your trading progress. I know that it is hard but you need to try and give it a shot. What do you think guys?
     
  3. fxekspert.eu

    fxekspert.eu Recruit

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    Agreed. Exercise self-control. Emotions should never interfer your trading. Emotions must be felt because suppressing them is not good for your mind either. You just need to find a way to use them as tools to your advantage ;)
     
  4. EURUSD

    EURUSD Sergeant Major

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    Very much important to control emotion, while trading if emotion interfere our minds, usually will leading us to make blindly decision and this is not the good way to manage our money based with emotion, about psychology trading has the high role in forex trading
     
  5. Forexrider

    Forexrider Private

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    Removing emotions from the trading business is the most difficult part and it is possible only for the traders who have very strong mindset of surviving the forex market for long so that consistent money can be made.
     
  6. scott11

    scott11 Recruit

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    It will be really hard to be successful in forex trading if you let your emotions control your judgement making power. You need to control the emotions as much as you can. Forex trading demands all your senses intact. So, do yourself a favour and let the brain make the decisions.
     
  7. dianajs

    dianajs Private, 1st Class

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    Do you have any advice about how to achieve that? Sometimes that's easier said than done, especially for newbies.
     
  8. Johnno26

    Johnno26 Recruit

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    Keeping a trading journal is the best way to keep your emotions in check. Well at least it will help you implement rules and monitor them on an ongoing basis.

    I've been looking for something that plugs into MT4 easily, but so far its tough.
     
  9. dianajs

    dianajs Private, 1st Class

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    I agree. I mostly use the MT4 history function, as well as an Excel sheet of my various trades when I deem it necessary.
     
  10. scott11

    scott11 Recruit

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    Totally agree. Keep stats via trading journal always help me in term of review my trading result, how I feel during good win or bad loss. I also keep my record in excel and review it weekly or monthly. This is help me better trader.
     

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