How to become emotionless in forex?
Pulithey48 posted:
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.
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.
Brenda13 posted:TradeWizards posted:Rusell_Thorpe posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Ron_Smith posted:
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.
100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
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.
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?
The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.
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.
I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?
I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.
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.
Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?
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.
Sounds interesting! I feel automation helps with consistency. How's the transition been for you?
I have been trading forex for 10 years.
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.
Cool - how do you balance between manual trading & reply on your algorithms?
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.
It was hard work, but when you trade without stress, even small profits become pleasant.
I understand that. Sometimes automate strategies really helped too. How using robots change your approach?
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.
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.
Rusell_Thorpe posted:TradeWizards posted:Rusell_Thorpe posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Ron_Smith posted:
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.
100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
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.
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?
The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.
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.
I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?
I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.
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.
Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?
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.
Sounds interesting! I feel automation helps with consistency. How's the transition been for you?
I have been trading forex for 10 years.
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.
Cool - how do you balance between manual trading & reply on your algorithms?
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.
It was hard work, but when you trade without stress, even small profits become pleasant.
Intelligent move! Do you think meditation still help you stay grounded during trading?
The important thing is that you find a way to create a calm mind so that you can be your best self.
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.
TradeWizards posted:Brenda13 posted:TradeWizards posted:Rusell_Thorpe posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Ron_Smith posted:
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.
100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
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.
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?
The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.
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.
I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?
I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.
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.
Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?
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.
Sounds interesting! I feel automation helps with consistency. How's the transition been for you?
I have been trading forex for 10 years.
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.
Cool - how do you balance between manual trading & reply on your algorithms?
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.
It was hard work, but when you trade without stress, even small profits become pleasant.
I understand that. Sometimes automate strategies really helped too. How using robots change your approach?
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.
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.
I get that. Risk management is important. Any risk management mode which worked for you?
Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Rusell_Thorpe posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Ron_Smith posted:
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.
100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
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.
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?
The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.
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.
I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?
I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.
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.
Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?
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.
Sounds interesting! I feel automation helps with consistency. How's the transition been for you?
I have been trading forex for 10 years.
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.
Cool - how do you balance between manual trading & reply on your algorithms?
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.
It was hard work, but when you trade without stress, even small profits become pleasant.
I understand that. Sometimes automate strategies really helped too. How using robots change your approach?
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.
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.
I get that. Risk management is important. Any risk management mode which worked for you?
Risk management is a very complex subject, contrary to everyone's imagination.
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.
TradeWizards posted:Rusell_Thorpe posted:TradeWizards posted:Rusell_Thorpe posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Ron_Smith posted:
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.
100% agreed. I feel sticking to the plan is the key. Do you follow any specific strategy you follow?
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.
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?
The first step is to set yourself some rules for emergencies before you start trading. Like stop loss etc.
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.
I like the advice - setting up rules really help to keep check of emotions. How'd you recover from a emotionally tough trade?
I have been trading for 10 years and like all traders I have tested many ways and lost a lot of money.
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.
Great - Books'd help with discipline. Do you automate strategies or manually trade sometimes?
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.
Sounds interesting! I feel automation helps with consistency. How's the transition been for you?
I have been trading forex for 10 years.
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.
Cool - how do you balance between manual trading & reply on your algorithms?
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.
It was hard work, but when you trade without stress, even small profits become pleasant.
Intelligent move! Do you think meditation still help you stay grounded during trading?
The important thing is that you find a way to create a calm mind so that you can be your best self.
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.
Interesting the way you handle it.
Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
lexusxxx posted:Gwydaer posted:
Pursuing automation, if possible, will also eliminate the vast majority of "psychological" hurdles that people will experience during trading.
I trade with an advisor, but it doesn’t really give me psychological comfort. I worry the same way if I traded manually.
Seeing account loss is already a source of anxiety and emotional distress that's why if you want to reduce emotional impact you have to avoid watching position PnL what is impossible if your are a day trader. Hence trading bot is the only efficient solution.
Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
Totally agree. I think sticking to rules is important. Do you rely on AI ike EAs yourself?
Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
Totally agree. I think sticking to rules is important. Do you rely on AI ike EAs yourself?
Yes, I am a MQL programmer and I use my own specialized robots.
You can search for TradeWizards on the MQL5 site and see my strategies and articles.
Ask me any specialized questions you have
TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
Totally agree. I think sticking to rules is important. Do you rely on AI ike EAs yourself?
Yes, I am a MQL programmer and I use my own specialized robots.
You can search for TradeWizards on the MQL5 site and see my strategies and articles.
Ask me any specialized questions you have
Cool! I will check it out TradeWizards. What's your most favourite strategy you've coded?
Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
Totally agree. I think sticking to rules is important. Do you rely on AI ike EAs yourself?
Yes, I am a MQL programmer and I use my own specialized robots.
You can search for TradeWizards on the MQL5 site and see my strategies and articles.
Ask me any specialized questions you haveCool! I will check it out TradeWizards. What's your most favourite strategy you've coded?
The most powerful strategy I designed is related to the combination of several trend strategies that filter the entry points and a pattern is used to communicate positions and drawdown control, which is a special combination of grid and hedging methods.Fibonacci and some principles of price action are also used in this pattern.
I haven't released this Expert Advisor yet, I just released one of its trend indicators called TW Trend Sniper, you can see it on the MQL5 site.
TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
Totally agree. I think sticking to rules is important. Do you rely on AI ike EAs yourself?
Yes, I am a MQL programmer and I use my own specialized robots.
You can search for TradeWizards on the MQL5 site and see my strategies and articles.
Ask me any specialized questions you haveCool! I will check it out TradeWizards. What's your most favourite strategy you've coded?
The most powerful strategy I designed is related to the combination of several trend strategies that filter the entry points and a pattern is used to communicate positions and drawdown control, which is a special combination of grid and hedging methods.Fibonacci and some principles of price action are also used in this pattern.
I haven't released this Expert Advisor yet, I just released one of its trend indicators called TW Trend Sniper, you can see it on the MQL5 site.
Sounds like an interesting setup. How is TW trend sniper performing with live testing?
Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:TradeWizards posted:Brenda13 posted:Casey_77 posted:
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.
I agree. Sticking to plan and strategy really. Any techniques that help you in managing these emotions?
Using Expert Advisors is very effective in trading success.
But it must be tested before use in all critical situations and be compatible with your trading mindset.
An expert advisor who has gone through the news and geopolitical events and economic crises of a currency pair in the past, can be successful in the future as well.
Robots cannot predict the future, they only execute patterns without human emotion and error.
Make sense. EA can be useful. Are they better than human to adapt unexpected market conditions?
Most of the strategies that are based on technical analysis have fixed and certain principles and have specific algorithms in different conditions. If you test EA in similar conditions in the past, then the same thing will happen in the future.
The basis of the problem in trading occurs when you want to adapt to unexpected conditions at a critical moment. This creates a disaster mentally and practically.
The best traders only follow the pre-established rules, which is the main feature of EAs.
Read the story of the successful strategy of the turtles.
Never analyze in a moment of crisis.
Totally agree. I think sticking to rules is important. Do you rely on AI ike EAs yourself?
Yes, I am a MQL programmer and I use my own specialized robots.
You can search for TradeWizards on the MQL5 site and see my strategies and articles.
Ask me any specialized questions you haveCool! I will check it out TradeWizards. What's your most favourite strategy you've coded?
The most powerful strategy I designed is related to the combination of several trend strategies that filter the entry points and a pattern is used to communicate positions and drawdown control, which is a special combination of grid and hedging methods.Fibonacci and some principles of price action are also used in this pattern.
I haven't released this Expert Advisor yet, I just released one of its trend indicators called TW Trend Sniper, you can see it on the MQL5 site.
Sounds like an interesting setup. How is TW trend sniper performing with live testing?
This algorithm is not dependent on market ticks and the entry points and TPs never change. And there is no difference between the real market and the past data.I post screenshots of live market signals on my profile page about every day.