rockstar Posted January 19, 2012 Share Posted January 19, 2012 The key to making money in the currency exchange market is to avoid emotional decisions and to follow a carefully thought out strategy that takes the current market and history into account. Going with your gut is not the way to go in the Forex market. Going with your gut could cost you money. Forex trading is a highly volatile market where emotions tend to run high. Emotions can influence your trading decisions, unless you have a strategy planned in advance, and stick to it, no matter what you think you’re seeing at the moment. The keys to success in Forex are system, analysis and perseverance. Most experienced traders tell novice traders that they need to develop a system – and stick to it no matter what. Letting your emotions rule your decisions can hurt your trading in a number of ways. The system tells you when to buy, what to buy, when to trade and what to trade for. By sticking to your system you’ll maximize your profits. A system based on technical analysis of historical market trends is one of the most potent tools that you can utilize if you’re just getting started in Forex trading. Many traders, with years of experience, continue to use this system to keep the profits rolling in. Many traders will tell you that when their gut instinct and their system collide, the system is almost always righ 6 Quote Link to comment Share on other sites More sharing options...
ermaniso2011 Posted January 20, 2012 Share Posted January 20, 2012 it is the biggest enemy of the trader the emotions.one the emotions came out then the trader is already out of control.winning a trade let him to have to much confident and loosing a trade letting him to think that it is end of the world.and getting angry and trying to take revenge from markets opening so many trades against the trend hopping it will turn back and boom :)leave emotions behind you when you are trading this is the top lesson for a trader. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 6, 2012 Share Posted February 6, 2012 I guess, you have to do trading over and over again in order to eliminate the effect of emotions in your trade. Once you have familiarized trading, emotions will be easy to control. Quote Link to comment Share on other sites More sharing options...
valexer Posted February 7, 2012 Share Posted February 7, 2012 Relating emotions while trading is a no-no for forex traders. You have to be firm in forex trading and in order to be successful in forex, you have to make intelligent decisions, not emotional decisions. If you let your emotions dictate you, then success in forex could be so far out from you. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 9, 2012 Share Posted February 9, 2012 you have to make intelligent decisions, not emotional decisions. If you let your emotions dictate you, then success in forex could be so far out from you. I think, this important that you trade based on what you see in the charts and what you read in the news and not based on what you fee at that moment. Quote Link to comment Share on other sites More sharing options...
stezz Posted February 13, 2012 Share Posted February 13, 2012 thanks for telling me about this emotion things because of emotion i have suffered MC (LOL) Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 24, 2012 Share Posted February 24, 2012 I guess, in time, a trader will learn how to discard the emotions running through him/her during a trade. In time, it will be natural for this trader to trade without feeling any of those negative emotions. Quote Link to comment Share on other sites More sharing options...
flybiz08 Posted March 29, 2012 Share Posted March 29, 2012 I do not think it is possible to completely eliminate the human factor in trading becuse lets face it, moiney is money and I do not also believe that there's any amount of money that is not important to a forex trader. Therefore, the best thing to do a s a forex trade is try as much as possible to reduce emotional influence on trading to the barest minimum. Quote Link to comment Share on other sites More sharing options...
PROPENSITY100 Posted March 10, 2013 Share Posted March 10, 2013 Control over emotions s critical to survive in Forex trading and make productive use of it. Emotions like greed impair our knowledge and skills and often leads to the destruction of our capital.and therefore should be avoided. Our ability to control emotions is actually put to test when we face losses. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted March 11, 2013 Share Posted March 11, 2013 If you can do this then we know that it's much better because we have to control our emotions in Forex trading because when we know that when we are trading with our emotions it can really affect our decision making and we might just do something that could lead to losses and regret at the end so we must always try to control our emotions. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted March 13, 2013 Share Posted March 13, 2013 Definitely, control our emotions is the way to not have losses. Although, this is next to impossible. Because, emotions are in us and we can't be emotionless trader or to not show emotions in the different events in the market and results of our trading. That's totally not like Forex robots that don't show emotions, traders have emotions. Quote Link to comment Share on other sites More sharing options...
bimal321 Posted April 21, 2013 Share Posted April 21, 2013 Emotion is biggest enemy of trading market. Control emotions is key success of making profit. When you practice trading sure your emotion will control. Emotion control and good knowledge, strategy is the best way more create money from trading market. Quote Link to comment Share on other sites More sharing options...
gaban Posted April 22, 2013 Share Posted April 22, 2013 Very dangerous if we are trading with emotions that are not controlled, because that would make us not going to get what we expect. We must control our emotions when trading, don't be greedy, it's very harmful. Quote Link to comment Share on other sites More sharing options...
bimal321 Posted April 22, 2013 Share Posted April 22, 2013 Very dangerous if we are trading with emotions that are not controlled, because that would make us not going to get what we expect. We must control our emotions when trading, don't be greedy, it's very harmful. Yes, trading with emotions causes great losses from trading market. We have to control emotion inorder to win from market. Emotion is one of the greatest enemy of market. Quote Link to comment Share on other sites More sharing options...
standart Posted April 23, 2013 Share Posted April 23, 2013 to get maximum result in trading, trader need to being logical and work based on trading strategy. break the rules and strategy will generate loss result. and if trader break their rule and strategy, mean they are not working with logical approach but with emotional approach. maybe trader break their rule because overconfident or even losing confident because suffering some consecutive loss. can be sure overconfident and losing confident can lead trader generate emotional trading decision. Quote Link to comment Share on other sites More sharing options...
savehouse Posted April 28, 2013 Share Posted April 28, 2013 to get maximum result in trading, trader need to being logical and work based on trading strategy. break the rules and strategy will generate loss result. and if trader break their rule and strategy, mean they are not working with logical approach but with emotional approach. maybe trader break their rule because overconfident or even losing confident because suffering some consecutive loss. can be sure overconfident and losing confident can lead trader generate emotional trading decision. i totally agree with you,if one go against his trading strategy,i can tell such trader will endup losing all he/she has being able to get a trader,one just need to sure of trading skills and not expect too much profit at the end of the month.as a trader we just need a profit target range to guide us when making trades.but i guess trader get carried away with their emotion when they are losing or making gain and that automatically lead to lose Quote Link to comment Share on other sites More sharing options...
pepy Posted May 7, 2013 Share Posted May 7, 2013 Yes, trading with emotions causes great losses from trading market. We have to control emotion inorder to win from market. Emotion is one of the greatest enemy of market. emotion still important i mean use it in the right way, if you stick with it too much, then emotion will cause a great loss for you. only know to put your emotion at the right time and if you can do something like that then you will get a lot of profit from your own investment in forex, and you will gain more profit for sure. Quote Link to comment Share on other sites More sharing options...
myfxcontest Posted May 7, 2013 Share Posted May 7, 2013 trading without emotions works only when trading with an EA Quote Link to comment Share on other sites More sharing options...
pepy Posted May 8, 2013 Share Posted May 8, 2013 LOL, that is very true, i never see anyone that use emotion with EA, or EA that has higher intelegical skills and have emotion when trading, but yeah if we don't want to mix emotion between trading then the best and the fastest way only by using EA as our own tools, just set it up and sleep Quote Link to comment Share on other sites More sharing options...
pacifist Posted May 20, 2013 Share Posted May 20, 2013 People who mix emotions in forex business can not prosper in forex business because emotions will not help you to earn money from forex. If any one want to make money from forex he should control himself and if he gets fail he should try again. Quote Link to comment Share on other sites More sharing options...
davils9 Posted May 26, 2013 Share Posted May 26, 2013 forex trading is a good business. if you would be a hard working man so it is good for you. so if we want to earn more and love forex we need to be an honest man and also a hardworking man. so be care Quote Link to comment Share on other sites More sharing options...
euro Posted September 30, 2013 Share Posted September 30, 2013 I think its hard when it comes to money. We all want to make some extra money so the forex market is something that is hard to not get emotional about. Of course, when you have like one k on the line, you will be stressed out about it. Its normal and nothing to be ashamed of and we all get nervous in forex but as we learn how to managed our trades we should be more relax. If we have a great understand of the market movement then we shall not fear. Fear has a lot to do with being inexperienced. Quote Link to comment Share on other sites More sharing options...
adil007 Posted November 13, 2013 Share Posted November 13, 2013 I think when we are doing forex trading we should let go of our emotions for the time being while we are trading not in daily life but in forex trading because in my view trading is affected by our emotions so we should not let our emotions interfere while we make a trade because this is the only way we would make profits in forex trading. Quote Link to comment Share on other sites More sharing options...
davils9 Posted November 14, 2013 Share Posted November 14, 2013 every man can make money from here and we can earn more and more I think it will be better for me . So I want to say you about it and you can earn more and more money. Quote Link to comment Share on other sites More sharing options...
adil007 Posted November 14, 2013 Share Posted November 14, 2013 I think its hard when it comes to money. We all want to make some extra money so the forex market is something that is hard to not get emotional about. Of course, when you have like one k on the line, you will be stressed out about it. Its normal and nothing to be ashamed of and we all get nervous in forex but as we learn how to managed our trades we should be more relax. If we have a great understand of the market movement then we shall not fear. Fear has a lot to do with being inexperienced. Yes I agree with you that it is hard to not let our emotions interfere with our trading because everyone wants to make more and more profits from here which is also a down side as mostly people do not get satisfied from the profits they make and lose money in the end. Quote Link to comment Share on other sites More sharing options...
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