How to become emotionless in forex?
Miembro desde May 08, 2023
posts 97
Dec 31, 2024 at 20:27
Pulithey48 posted:It is not possible to become emotionless, yes discipline helps you develop a certain resistance to being impulsive about your decisions, but there is no possible way one person can become emotionless for trading, all you need is discipline and acceptance of the situation, whatever it may be and you will be able to fare better in the mental aspects of the job.
Becoming emotionless in forex trading involves disciplined practices to mitigate the impact of emotions on decision-making. Firstly, traders must develop a well-defined trading plan with clear entry and exit criteria. Secondly, employing risk management strategies, such as setting stop-loss orders, helps limit emotional reactions to market fluctuations. Additionally, sticking to predetermined trading rules and avoiding impulsive actions are essential. Regularly reviewing trading performance objectively can also help detach from emotions by focusing on statistical outcomes rather than short-term gains or losses. Finally, cultivating mindfulness and psychological resilience through techniques like meditation can further support emotional detachment in forex trading.
Miembro desde Oct 28, 2024
posts 43
Jan 01 at 07:11
Brenda13 posted:I spent a long time studying bots and signals, analyzing patterns and profit and loss factors, and used many of them and made good profits, but risk management was still necessary.TradeWizards posted:I understand that. Sometimes automate strategies really helped too. How using robots change your approach?Rusell_Thorpe posted:It was very difficult to control the stress of losing and the excitement of winning, and I controlled myself by not trading and meditating. Later, I became friends with a person who was a programmer and together we started converting strategies into indicators and then into robots.TradeWizards posted:Cool - how do you balance between manual trading & reply on your algorithms?Brenda13 posted:I have been trading forex for 10 years.TradeWizards posted:Sounds interesting! I feel automation helps with consistency. How's the transition been for you?Brenda13 posted:I was doing manual trading for 5 years but now we are a team of MQL programmers and we only use algorithms and money management strategies.TradeWizards posted:Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?Brenda13 posted:I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.TradeWizards posted:I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?Brenda13 posted:The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.TradeWizards posted:I can understand that controlling is key. I personally feel practising discipline & risk management can help avoid fear or greed. How you handle that when emotions start creeping it?Brenda13 posted:Ron_Smith posted:100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
There are several ways to control and override this:
1- Creating conditions for emotional and psychological control.
2- Test and practice for mastery and self-confidence so that fear and greed disappear.
3- Use robots and algorithms instead of personal trading.
4- use signals and experts.
If you can't find a way to control your emotions when trading, you're doomed to fail in the long run.
The second step is to stick to them and never open a new trade until you have completely recovered your emotions.
Try to neutralize the emotional feelings of profit and loss before entering the next trade.
But by reading the books 'The Disciplined Trader' and 'Trading in the Zone' by Mark Douglas and by frequent practice and creating personal discipline I was able to control myself.
I have been a MQL5 programmer for 5 years now and use my strategies as Expert Advisors.
If you have any questions, I will help you.
For the first 5 years, I traded manually and controlled my trades using Mark Douglas books and risk management, which was a very difficult task. But it was effective.
I have been a MQL programmer for 5 years now and I convert my strategies into algorithms, indicators and robots and I am much more comfortable.
I have been selling my products on the MQL5 site for a year now.
I am friendly to answer any question you have.
It was hard work, but when you trade without stress, even small profits become pleasant.
I used to prepare a trading journal from them and researched their annual data.
The most important factor in an algorithmized strategy is not the strategy itself, but the risk management model and the communication structure of each transaction.
I have seen algorithms with 90% success that have been called margin during the crisis, but algorithms with 50-60% success that have never been called margin.
It got a little complicated, if you need clarification, ask again.
Together, we can unlock endless opportunities and achieve your desired results.
Miembro desde Oct 28, 2024
posts 43
Jan 01 at 07:35
Rusell_Thorpe posted:The important thing is that you find a way to create a calm mind so that you can be your best self.TradeWizards posted:Intelligent move! Do you think meditation still help you stay grounded during trading?Rusell_Thorpe posted:It was very difficult to control the stress of losing and the excitement of winning, and I controlled myself by not trading and meditating. Later, I became friends with a person who was a programmer and together we started converting strategies into indicators and then into robots.TradeWizards posted:Cool - how do you balance between manual trading & reply on your algorithms?Brenda13 posted:I have been trading forex for 10 years.TradeWizards posted:Sounds interesting! I feel automation helps with consistency. How's the transition been for you?Brenda13 posted:I was doing manual trading for 5 years but now we are a team of MQL programmers and we only use algorithms and money management strategies.TradeWizards posted:Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?Brenda13 posted:I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.TradeWizards posted:I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?Brenda13 posted:The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.TradeWizards posted:I can understand that controlling is key. I personally feel practising discipline & risk management can help avoid fear or greed. How you handle that when emotions start creeping it?Brenda13 posted:Ron_Smith posted:100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
There are several ways to control and override this:
1- Creating conditions for emotional and psychological control.
2- Test and practice for mastery and self-confidence so that fear and greed disappear.
3- Use robots and algorithms instead of personal trading.
4- use signals and experts.
If you can't find a way to control your emotions when trading, you're doomed to fail in the long run.
The second step is to stick to them and never open a new trade until you have completely recovered your emotions.
Try to neutralize the emotional feelings of profit and loss before entering the next trade.
But by reading the books 'The Disciplined Trader' and 'Trading in the Zone' by Mark Douglas and by frequent practice and creating personal discipline I was able to control myself.
I have been a MQL5 programmer for 5 years now and use my strategies as Expert Advisors.
If you have any questions, I will help you.
For the first 5 years, I traded manually and controlled my trades using Mark Douglas books and risk management, which was a very difficult task. But it was effective.
I have been a MQL programmer for 5 years now and I convert my strategies into algorithms, indicators and robots and I am much more comfortable.
I have been selling my products on the MQL5 site for a year now.
I am friendly to answer any question you have.
It was hard work, but when you trade without stress, even small profits become pleasant.
Nobody is perfect, but they can be their best self.
Fear and greed are both factors of failure. They are the result of a mind with scattered data. Any way you can find to invite it to silence and peace is right. Sometimes music and dance also work.
I have been meditating for years. And it is not just for trading, it is effective for all aspects of life.
Mark Douglas's books also offer good ideas.
Together, we can unlock endless opportunities and achieve your desired results.
Jan 02 at 05:32
TradeWizards posted:I get that. Risk management is important. Any risk management mode which worked for you?Brenda13 posted:I spent a long time studying bots and signals, analyzing patterns and profit and loss factors, and used many of them and made good profits, but risk management was still necessary.TradeWizards posted:I understand that. Sometimes automate strategies really helped too. How using robots change your approach?Rusell_Thorpe posted:It was very difficult to control the stress of losing and the excitement of winning, and I controlled myself by not trading and meditating. Later, I became friends with a person who was a programmer and together we started converting strategies into indicators and then into robots.TradeWizards posted:Cool - how do you balance between manual trading & reply on your algorithms?Brenda13 posted:I have been trading forex for 10 years.TradeWizards posted:Sounds interesting! I feel automation helps with consistency. How's the transition been for you?Brenda13 posted:I was doing manual trading for 5 years but now we are a team of MQL programmers and we only use algorithms and money management strategies.TradeWizards posted:Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?Brenda13 posted:I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.TradeWizards posted:I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?Brenda13 posted:The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.TradeWizards posted:I can understand that controlling is key. I personally feel practising discipline & risk management can help avoid fear or greed. How you handle that when emotions start creeping it?Brenda13 posted:Ron_Smith posted:100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
There are several ways to control and override this:
1- Creating conditions for emotional and psychological control.
2- Test and practice for mastery and self-confidence so that fear and greed disappear.
3- Use robots and algorithms instead of personal trading.
4- use signals and experts.
If you can't find a way to control your emotions when trading, you're doomed to fail in the long run.
The second step is to stick to them and never open a new trade until you have completely recovered your emotions.
Try to neutralize the emotional feelings of profit and loss before entering the next trade.
But by reading the books 'The Disciplined Trader' and 'Trading in the Zone' by Mark Douglas and by frequent practice and creating personal discipline I was able to control myself.
I have been a MQL5 programmer for 5 years now and use my strategies as Expert Advisors.
If you have any questions, I will help you.
For the first 5 years, I traded manually and controlled my trades using Mark Douglas books and risk management, which was a very difficult task. But it was effective.
I have been a MQL programmer for 5 years now and I convert my strategies into algorithms, indicators and robots and I am much more comfortable.
I have been selling my products on the MQL5 site for a year now.
I am friendly to answer any question you have.
It was hard work, but when you trade without stress, even small profits become pleasant.
I used to prepare a trading journal from them and researched their annual data.
The most important factor in an algorithmized strategy is not the strategy itself, but the risk management model and the communication structure of each transaction.
I have seen algorithms with 90% success that have been called margin during the crisis, but algorithms with 50-60% success that have never been called margin.
It got a little complicated, if you need clarification, ask again.
Miembro desde Oct 28, 2024
posts 43
Jan 02 at 14:36
Brenda13 posted:Risk management is a very complex subject, contrary to everyone's imagination.TradeWizards posted:I get that. Risk management is important. Any risk management mode which worked for you?Brenda13 posted:I spent a long time studying bots and signals, analyzing patterns and profit and loss factors, and used many of them and made good profits, but risk management was still necessary.TradeWizards posted:I understand that. Sometimes automate strategies really helped too. How using robots change your approach?Rusell_Thorpe posted:It was very difficult to control the stress of losing and the excitement of winning, and I controlled myself by not trading and meditating. Later, I became friends with a person who was a programmer and together we started converting strategies into indicators and then into robots.TradeWizards posted:Cool - how do you balance between manual trading & reply on your algorithms?Brenda13 posted:I have been trading forex for 10 years.TradeWizards posted:Sounds interesting! I feel automation helps with consistency. How's the transition been for you?Brenda13 posted:I was doing manual trading for 5 years but now we are a team of MQL programmers and we only use algorithms and money management strategies.TradeWizards posted:Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?Brenda13 posted:I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.TradeWizards posted:I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?Brenda13 posted:The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.TradeWizards posted:I can understand that controlling is key. I personally feel practising discipline & risk management can help avoid fear or greed. How you handle that when emotions start creeping it?Brenda13 posted:Ron_Smith posted:100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
There are several ways to control and override this:
1- Creating conditions for emotional and psychological control.
2- Test and practice for mastery and self-confidence so that fear and greed disappear.
3- Use robots and algorithms instead of personal trading.
4- use signals and experts.
If you can't find a way to control your emotions when trading, you're doomed to fail in the long run.
The second step is to stick to them and never open a new trade until you have completely recovered your emotions.
Try to neutralize the emotional feelings of profit and loss before entering the next trade.
But by reading the books 'The Disciplined Trader' and 'Trading in the Zone' by Mark Douglas and by frequent practice and creating personal discipline I was able to control myself.
I have been a MQL5 programmer for 5 years now and use my strategies as Expert Advisors.
If you have any questions, I will help you.
For the first 5 years, I traded manually and controlled my trades using Mark Douglas books and risk management, which was a very difficult task. But it was effective.
I have been a MQL programmer for 5 years now and I convert my strategies into algorithms, indicators and robots and I am much more comfortable.
I have been selling my products on the MQL5 site for a year now.
I am friendly to answer any question you have.
It was hard work, but when you trade without stress, even small profits become pleasant.
I used to prepare a trading journal from them and researched their annual data.
The most important factor in an algorithmized strategy is not the strategy itself, but the risk management model and the communication structure of each transaction.
I have seen algorithms with 90% success that have been called margin during the crisis, but algorithms with 50-60% success that have never been called margin.
It got a little complicated, if you need clarification, ask again.
It should be designed according to the volume of capital and currency you trade, the fundamental situation, and the type of strategy and trading pattern.
The percentage of capital inflow in a trade should be adjusted to the total balance.
Never see your trades separately.
Use compensating patterns to control the growth trend of the balance.
The risk to reward of each trade and the total trades should be examined.
Policies and geopolitical trends, etc. are very important in the volume of trades and determining the long-term trend. Of course, in terms of macro, I myself am 90% technical.
In the overall strategy, you must have patterns to control drawdown.
The topic you asked is very broad and each item requires several pages of explanation.
Trading methods such as SL patterns, trailing positions, chain construction, locking, hedging, etc. make 80% of your profit. Do a lot of research and practice on these matters.
If you have any questions about any of these, let's create a new discussion.
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Together, we can unlock endless opportunities and achieve your desired results.
Miembro desde Oct 21, 2024
posts 55
Jan 03 at 10:18
TradeWizards posted:Interesting the way you handle it.Rusell_Thorpe posted:The important thing is that you find a way to create a calm mind so that you can be your best self.TradeWizards posted:Intelligent move! Do you think meditation still help you stay grounded during trading?Rusell_Thorpe posted:It was very difficult to control the stress of losing and the excitement of winning, and I controlled myself by not trading and meditating. Later, I became friends with a person who was a programmer and together we started converting strategies into indicators and then into robots.TradeWizards posted:Cool - how do you balance between manual trading & reply on your algorithms?Brenda13 posted:I have been trading forex for 10 years.TradeWizards posted:Sounds interesting! I feel automation helps with consistency. How's the transition been for you?Brenda13 posted:I was doing manual trading for 5 years but now we are a team of MQL programmers and we only use algorithms and money management strategies.TradeWizards posted:Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?Brenda13 posted:I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.TradeWizards posted:I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?Brenda13 posted:The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.TradeWizards posted:I can understand that controlling is key. I personally feel practising discipline & risk management can help avoid fear or greed. How you handle that when emotions start creeping it?Brenda13 posted:Ron_Smith posted:100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
To stay emotionless in Forex, focus on your strategy, accept losses as part of the game, and stick to a consistent approach without getting caught up in every trade.
There are several ways to control and override this:
1- Creating conditions for emotional and psychological control.
2- Test and practice for mastery and self-confidence so that fear and greed disappear.
3- Use robots and algorithms instead of personal trading.
4- use signals and experts.
If you can't find a way to control your emotions when trading, you're doomed to fail in the long run.
The second step is to stick to them and never open a new trade until you have completely recovered your emotions.
Try to neutralize the emotional feelings of profit and loss before entering the next trade.
But by reading the books 'The Disciplined Trader' and 'Trading in the Zone' by Mark Douglas and by frequent practice and creating personal discipline I was able to control myself.
I have been a MQL5 programmer for 5 years now and use my strategies as Expert Advisors.
If you have any questions, I will help you.
For the first 5 years, I traded manually and controlled my trades using Mark Douglas books and risk management, which was a very difficult task. But it was effective.
I have been a MQL programmer for 5 years now and I convert my strategies into algorithms, indicators and robots and I am much more comfortable.
I have been selling my products on the MQL5 site for a year now.
I am friendly to answer any question you have.
It was hard work, but when you trade without stress, even small profits become pleasant.
Nobody is perfect, but they can be their best self.
Fear and greed are both factors of failure. They are the result of a mind with scattered data. Any way you can find to invite it to silence and peace is right. Sometimes music and dance also work.
I have been meditating for years. And it is not just for trading, it is effective for all aspects of life.
Mark Douglas's books also offer good ideas.
Jan 03 at 11:16
Becoming completely emotionless in forex is tough, but managing emotions is key. Focus on sticking to your trading plan, set clear stop-loss and take-profit levels, and treat every trade as part of a bigger strategy. With time and discipline, the emotional swings become easier to handle.
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