Do not let emotions stand in your trade

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As  human beings, it is completely natural for us to become emotional. Emotion is a part of our life and you cannot live your life without emotions. Though many traders think it is essential to take the right trades in Forex with your logical and rational decisions, it also possible to trade with your emotion, such as gut feelings, which can tell you whether you can make money in the market or not. However in reality, emotions are only an obstacle in your path to success in Forex. The professional traders at Singapore always place their trade based on rational logic, since they know that they will only lose money if they give priority to their emotions.

If you want to lead a life full of money and glory, you need to detach yourself from your emotions in your trading. Emotions cannot bring good results not even the most positive emotions. If you think you will take the best trades in your life when you are happy, you will take the worst trades in your life. As a professional Forex trader, you need to concentrate on quality trade execution. Develop a solid trading strategy. Based on that you should place the trades with proper money management. Since losing is just a part of the trader’s career make sure you do not get frustrated or lost in your emotions.

Are happy emotions also bad in my trading?

Yes, happy emotions are also bad in your trading. They are worse than negative emotions. Bad emotions can make you feel the need for proper education, but happy emotions can make you feel  you have conquered the Forex market. They can see things in the chart, like false signals or patterns which do not exist. When people are emotional, the brain releases a special kind of hormone which makes them see many imaginary things which do not exist in the real world.If you get emotional then you will never be able to find the best trade setup in your trading platform. Always try to do your technical analysis in the higher time frame since it gives precise trade entry. As a new trader, you should never trade the high impact news releases, as it will be extremely difficult for you to control your emotion when you see the extreme level of market volatility.

Emotional people cannot see the difference and they trade the market. It is always the logical and emotionless traders in the market who are making a profit. They take help from the news media, they take help from their past record analysis and most importantly, they do not rely on their emotions to make judgments. If their mind is telling to take the trade, but their market analyze is saying the opposite, they do not take that trade. It is the reason only a small number of traders are successful in this very large market. As long as you make judgements based on emotion, you cannot take the best trade in your life. You will ignore your analysis, you will ignore your strategy and try to place a trade on the market based on your gut feeling. This will only result in losing your money. The moment you learn to control your emotion is the moment you will step onto the path to success.

Summary: Emotion is essential in our life. But in our Forex trading, it is best if we do not mix up our emotion with our strategy and market analysis. Trade the market only based on your strategy and analysis. Always use proper money management and develop a strong reading habit. Try to learn new things in every single day, and over the period of time you will find yourself becoming one of the best traders in the world.

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