Taking Advantage Of Your Emotion

Discussion in 'General Trading Discussion' started by Adam Smith, May 7, 2018.

  1. Adam Smith

    Adam Smith Member

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    Most people lose their money because they get emotional when they trade. We are not saying they cry but when they lose their money, they could not control themselves and take many decisions. This emotion is our human nature and this is not our disadvantage. Many traders will advise you that emotion is your enemy and you need to control it if you want to get successful. What we are going to tell you is different. We want to tell you that if you can transform this emotion, you can do wonder with your trades. This is not bad at all and this inherent quality can be used to your advantage. This article will tell you how you can make money with the help of emotions on your side.

    We all know emotions are often considered as the most deadly enemy of the Forex trader. But what if you can use the emotions to maximize your profit? What if it helps you to protect your investment? The expert traders use their emotions in a very positive way. For instance, after losing a few trades they wait on the sideline and become more conservative. They know the risk factors of the market thus they reduce their lot size to limit their risk exposure.

    You have to focus on the daily or weekly time frame to get the best possible trades from the Forex market. If you do the technical analysis in the lower time frame, you will have a very tough time in this industry. Try to find potential price action signal in the higher time frame in your online trading platform. Stop trading the market reversal and use emotions in a very positive way.

    When you lose money, keep calm

    The first way to take advantage of your emotion is to keep calm if you lose money. This will happen to you pretty soon and you will be a friend of losing money. This is what every trader experiences no matter how successful they are. This market is unpredictable and you will always lose your money. Do not get excited. Do not try to take revenge on the market and think of yourself as superhuman. Keep calm and analyze what went wrong. It will take some time to control your anger to beat this market down to pulp but once you have mastered your anger, you will be much better in your trades. Anger cannot give you money but calmness can give you the money and also the solutions for your future trades so that you do not make the same mistakes.

    If you lose, gather your courage and come back with more versatility

    Whenever you lose money, gather your strength and know it is the time you develop your capabilities in this industry. Many people lose hope and they think it is beyond their league. You can make money but you need to believe in yourself. If you lose your money after a successful trade, know that you still have chances to come back successfully. Tell your mind that it is only one trade and it will not set your future career. Tell this all the time to your mind and it will bring a good result.

    Be positive in all circumstances

    No matter whatever the time is, always be positive. You do not know the power of positive thinking and always tell your emotion to think of the good things that can happen. It may sound unbelievable but it truly happens in our lives. You can change your outcome by only staying positive.

    Ignore the pessimistic emotions

    You cannot be always happy but try to ignore when something bad emotions come to your mind. People will always try to give ideas and get your money but listen to your own mind. Whenever you lose hope, think of the bright future and you will be again on the track.
     
  2. DanielH

    DanielH Member

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    Emotions should not be part of our operations. When I started in the market, I learned to control it in a particular way, I began to operate in less volatile pairs like nok usd, until I got control of my emotions to invest in the most changing pairs
     

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