How to Become Emotionless | Page 13 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

How many years to become profitable? 161 replies

Pipetmaster Emotionless Journal 1 reply

Who has become rich trading forex? 412 replies

Cable has become quite popular... 11 replies

Attachments: How to Become Emotionless
Exit Attachments

How to Become Emotionless

  • #241
  • Aug 12, 2018 2:17pm Aug 12, 2018 2:17pm
Quoting Grabowski
{quote} If you are in a trade and something feels uncomfortable fx holding a trade longer when in profit, use it as an indication that you are now doing something 95% aren't doing. I believe that emotions are the best indicator in the markets. Observe them for what they are, but don't act on them. Just my 2 cents..

Inserted Video
  • #242
  • Aug 13, 2018 12:09am Aug 13, 2018 12:09am
@VEEFX
i have found the perfect thread for you VEE !!!!

Perhaps you can learn something here ! I thought FractalFreaks ego was something else...

But NOPE..

You far surpass his ego.. You profess to Ignore.. But you respond to those you ignore with page long posts,

Now I suggested that for you to be successful in trading you need to check your ego....

I would like to help you with this...and perhaps Fractal Freak too,,, But honestly I think FF has a much better
grasp on reality then you.

So please @VEEFX tell me how can I mentor you and help you overcome these emotional feelings you have.
this will be great for your trading.

I cant wait to get started brother,
Master your Mind,,,Master the Market
  • #243
  • Aug 13, 2018 1:25am Aug 13, 2018 1:25am
Acceptance is the key to become emotionless. What else? I'm not saying that you have to accept to lose money, that's not how it works. What I mean is that you must agree that you're powerless over market action. Just accept the outcome of the trades and move on, rather than anger and frustration about the result that can hurt your trades further.
  • #244
  • Aug 13, 2018 1:39am Aug 13, 2018 1:39am
As a little investor in forex, i can't trade against the market. If i do that i will lose all money.
  • #245
  • Aug 13, 2018 1:43am Aug 13, 2018 1:43am
Quoting Victory9
Acceptance is the key to become emotionless. What else? I'm not saying that you have to accept to lose money, that's not how it works. What I mean is that you must agree that you're powerless over market action. Just accept the outcome of the trades and move on, rather than anger and frustration about the result that can hurt your trades further.

Nobody likes losing , fear of impending loss triggers emotions. When they lose ,they lose bottle .The money they deposited at broker, is something they do not want to lose.The minute they start losing ...................they try to teach everybody to become emotionless.



Most traders go into trading, not ready and mentally prepared to lose.


Inserted Video
  • #246
  • Aug 13, 2018 3:12am Aug 13, 2018 3:12am
I think no one can become emotionless completely but we can only control emotions.
  • #247
  • Aug 13, 2018 5:16am Aug 13, 2018 5:16am
Quoting loozers
{quote} If you become emotionless , you will see it , emotions are clouding your view.
Thanks man! Now I got the point. In addition, you added such an useful picture here.
  • #248
  • Aug 13, 2018 5:18am Aug 13, 2018 5:18am
Quoting Pipex
I'm in my second year now trading live ... and doing very well ... I'm still here and making pips ... Like most have said, focus less on the money ... for me it happened when I started controlling my position size of my trades and following my plan. Focus on the execution of your trades ... Happy Trading ...
Well; may I know, how many months you practiced demo before your live???
  • #249
  • Aug 13, 2018 5:26am Aug 13, 2018 5:26am
How do i control emotion in trading,
1) Identify risk to reward. (best is risk 1: reward 2 ratio above)
2) Entry with initial stoploss. (acceptable amount of losses - help to control emotion)
3) Partial close and move stoploss into positive level or SL+1p after price reach 1st target or certain points.
(at this level, it's emotionless)

Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY.Daily.png Size: 50 KB
  • #250
  • Aug 15, 2018 10:33am Aug 15, 2018 10:33am
Quoting Grabowski
{quote} If you are in a trade and something feels uncomfortable fx holding a trade longer when in profit, use it as an indication that you are now doing something 95% aren't doing. I believe that emotions are the best indicator in the markets. Observe them for what they are, but don't act on them. Just my 2 cents..
Nice to know your success plan; by the way what’s your risk reward plan actually?
  • #251
  • Aug 15, 2018 12:43pm Aug 15, 2018 12:43pm
Quoting ZikriIrfan
{quote} Nice to know your success plan; by the way what’s your risk reward plan actually?
You are much welcome ZikriIfan.
I use trailing stops or at least take profit 2x my risk.
From what I have seen, everything from TA, momentum and reading the tape strategies.. what they have in common is that on average they hold their trades longer in profit than their losses.
  • #252
  • Aug 16, 2018 6:37am Aug 16, 2018 6:37am
Quoting Grabowski
{quote} You are much welcome ZikriIfan. I use trailing stops or at least take profit 2x my risk. From what I have seen, everything from TA, momentum and reading the tape strategies.. what they have in common is that on average they hold their trades longer in profit than their losses.
A perfect plan indeed; hope for the best mate! Keep hunting.
  • #253
  • Aug 16, 2018 9:17am Aug 16, 2018 9:17am
I've never felt comfortable using trailing stops, but people keep recommeding them more and more. I should probably look into strategies using them.
  • #254
  • Aug 16, 2018 1:56pm Aug 16, 2018 1:56pm
I don't think it is possible to become emotionless or even advisable. What should instead be mastered, and that which is the real challenge, is the ability to tame and control your emotions. You should have the discretion and proper discernment to know when to use which emotion and in what measure. It comes with practice and time. Be practical and logical.
  • #255
  • Sep 14, 2018 1:03am Sep 14, 2018 1:03am
Quoting loozers
{quote} Nobody likes losing , fear of impending loss triggers emotions. When they lose ,they lose bottle .The money they deposited at broker, is something they do not want to lose.The minute they start losing ...................they try to teach everybody to become emotionless. Most traders go into trading, not ready and mentally prepared to lose. https://www.youtube.com/watch?v=4PuZHZ1bdUw
Emotional video. Lots of crowd (especially fans) represent huge capital. Important loss can hurts way too big. But if one is mentally prepared to lose, it's no surprise that thousands will hate him, or thousands buck loses.
  • #256
  • Sep 14, 2018 7:26am Sep 14, 2018 7:26am
It's not easy to become emotionless unless you face the situation and accept it. Tumultuous emotion can destroy our strategy. Prepare the solution for common issues early, and it helps. Another solution I find today, from forexfactory itself, is listen to instrumental or meditation song. This might helps.
  • #257
  • Sep 14, 2018 10:13am Sep 14, 2018 10:13am
Quoting Shane4
It's not easy to become emotionless unless you face the situation and accept it. Tumultuous emotion can destroy our strategy. Prepare the solution for common issues early, and it helps. Another solution I find today, from forexfactory itself, is listen to instrumental or meditation song. This might helps.
People have been talking about meditation as a way to cope with stress a lot lately, it seems. I don't know how much it helps, but I don't think it could do any harm, at least.
  • #258
  • Sep 15, 2018 2:48pm Sep 15, 2018 2:48pm
I believe that to take emotions out of trading, you need to take ego out of trading. Greed and fear are big and not to be discarded lightly, but I think more money is lost because of ego ("Okay, it moved against me, but it will come back....I KNOW I'm not wrong!) than anything else. I've seen people ride a losing trade down 100 pips because they were "SURE" it was coming back!

About the only way to get ego out is to become humbled, and the best way to be humbled is to take a loss and truly know that it was 100% your fault for the loss. One of the guys I day traded options with had the same trade I did, and we were both $4500 in profit. Stock hesitated a little and I got out with that profit. He wanted to get an even $5000 profit (only $0.05 more in the option price) and held his contracts. Started going down a little, but he was sure it would come back and he wanted that $5000 profit really bad for bragging rights in that he called the stock price correctly.....and he finally sold it for a $1000 loss!! That was his humbling moment and after that ego and his need to be right no matter what never again entered into his trading.

Does your loss have to be that much? No, of course not, but it DOES need to be real money (not demo) and it DOES need to be an amount that really bothers you inside (not $3-$4 on a micro account), and you DO need to acknowledge that the loss was 100% your fault.

Sounds harsh, be ego is something that is usually tempered with a negative action, and I really don't know if it is possible to just "logic" your way out of emotions. But if/when this happens to you in a real way, you realize that you don't have HAVE to be right all the time, and getting out of trades that are going badly becomes much, much easier. You just move on to the next trade.

My two pips worth...
  • #259
  • Sep 16, 2018 3:25am Sep 16, 2018 3:25am
Quoting moneymaker2
I believe that to take emotions out of trading, you need to take ego out of trading. Greed and fear are big and not to be discarded lightly, but I think more money is lost because of ego ("Okay, it moved against me, but it will come back....I KNOW I'm not wrong!) than anything else. I've seen people ride a losing trade down 100 pips because they were "SURE" it was coming back! About the only way to get ego out is to become humbled, and the best way to be humbled is to take a loss and truly know that it was 100% your fault for the loss. One of the...
A very meaningful post. Thanks mate; I hope you’ll keep adding more useful posts in this forum.
  • #260
  • Sep 16, 2018 5:19am Sep 16, 2018 5:19am
Traders have emotions.
The trick is to know which ones to act on, and which ones to deal with in other ways..
If its a gut feeling... Best to listen to it.
If its an impulse feeling... best to recognize it, acknowledge it, even say it out loud, Then let it pass.
It get easier the more you can recognize gut feeling from impulse feelings...

As for ego.. Best not to post your live trades...
When you post live trades it can affect your ego.
Everybody is different, But I never post live trades, its a big mental distraction!

Read Market Mind games by D. Schull for tricks on how to deal with emotions.
well worth the $15!
The only system that will work is one designed by and for yourself.
0 traders viewing now