Emotion in Forex trading
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Jan 30, 2019 at 13:03
togr posted:
Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.
That is my story in short.
This is a good idea to avoid a risks caused by emotions. But it should be adjusted all the time to make the EA working for each market style.
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Jan 30, 2019 at 13:04
DonaldB posted:togr posted:
Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.
That is my story in short.
This is a good idea to avoid a risks caused by emotions. But it should be adjusted all the time to make the EA working for each market style.
Nope if you BT over 10 years there is no new situation
Everything happened already - recall Swiss bank peg removal
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Jan 30, 2019 at 16:23
AniLorak posted:niceGLer posted:
In coming friday, the 1st of February is the NFP release day. I've decided to stay on sidelines until next week. That is emotionally difficult not to take any action. Almost depressing.
I didn't trade so much on demo. Instead, I tried to limit my losses until I get the grip from trading.
Then now you are using micro account; isn’t? besides, if you are not confident enough; better to leave the news session.
Yes, I am using a very small micro account. I exceeded already my profit target for January. I know one can make huge gains during news releases, but it is also very risky. My current broker has made it too expensive to trade in very short time frames (~1 pips) so I am leaving those high volatility occasions unless I have a position already open and the situation favors me. Besides it seems that EURUSD and AUDUSD are ranging, in any case.
I think I am getting into trading, little by little. It took 4 long years, and it is actually easier and more boring than I thought in the beginning. Waiting game, I would say.
Taking part to discussions helps a bit ;)
forex_trader_458816
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Jan 31, 2019 at 07:29
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂
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Jan 31, 2019 at 10:03
togr posted:
Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.
That is my story in short.
This has been in my TO-DO list for awhile.
I've been programming with C during my studies. C is a procedural language like MQL4 is, mostly. Since MQL4 has also OOP characteristics, I'd like to program EA's in object oriented style. However, most of the examples and code have been done in old-school fashion. So not much help from there.
So my plan is:
1) Gain capital
2) Move to longer time frames
3) Have time for learning OOP programming language like Java (and learn OOP fashion)
4) Start programming EAs
I appreciate your suggestion. Any ways of making this quicker? I am a hands-on learner.
I believe that EAs are a tool for controlling emotions. Also, I would use them for gaining more time for something else.
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Jan 31, 2019 at 10:52
nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂
Yeah.
My cures of it is to open and forget. Just set up a sl and tp.
The AI is the future.
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Jan 31, 2019 at 12:24
HyperAI posted:nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂
Yeah.
My cures of it is to open and forget. Just set up a sl and tp.
It’s a great practice; by the way, I already closed my balance section from my chart; so I don’t feel huge pressure during the opposite moves.
keeping patience.......
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Jan 31, 2019 at 12:26
Trade on a higher time frame. There will be less opportunities to screw up and take false trades. The set ups on the higher time frames are better anyway
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Jan 31, 2019 at 12:32
vedranm posted:
Trade on a higher time frame. There will be less opportunities to screw up and take false trades. The set ups on the higher time frames are better anyway
Direction from the upper (4h or 1D) time frame, timing from the lower (entry & exit). I've tried this and that, now it seems to be working. :)
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Jan 31, 2019 at 13:36
Adribaasmet posted:HyperAI posted:nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂
Yeah.
My cures of it is to open and forget. Just set up a sl and tp.
It’s a great practice; by the way, I already closed my balance section from my chart; so I don’t feel huge pressure during the opposite moves.
Emotions feed on information and live in imagination. So, by isolating yourself from unnecessary information, you can significantly reduce the emotional background.
The AI is the future.
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Jan 31, 2019 at 14:25
niceGLer posted:togr posted:
Or simply you convert your trading idea to robot.
Test it with tick data precision over years
Run it on demo
Run it on small account
Run it big
Became independent trader, trading for living.
That is my story in short.
This has been in my TO-DO list for awhile.
I've been programming with C during my studies. C is a procedural language like MQL4 is, mostly. Since MQL4 has also OOP characteristics, I'd like to program EA's in object oriented style. However, most of the examples and code have been done in old-school fashion. So not much help from there.
So my plan is:
1) Gain capital
2) Move to longer time frames
3) Have time for learning OOP programming language like Java (and learn OOP fashion)
4) Start programming EAs
I appreciate your suggestion. Any ways of making this quicker? I am a hands-on learner.
I believe that EAs are a tool for controlling emotions. Also, I would use them for gaining more time for something else.
I suggest you gather capital as last step
As first step you have to have great trading idea
Than apply the steps I have described
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Jan 31, 2019 at 14:25
HyperAI posted:Adribaasmet posted:HyperAI posted:nasrul_poyo posted:
Emotion. Arghhhh. Whenever there is no setup to entry, my fingers shakingggggg. Then, i just enter the trade, and it becomes nightmare 😂
Yeah.
My cures of it is to open and forget. Just set up a sl and tp.
It’s a great practice; by the way, I already closed my balance section from my chart; so I don’t feel huge pressure during the opposite moves.
Emotions feed on information and live in imagination. So, by isolating yourself from unnecessary information, you can significantly reduce the emotional background.
Isolating yourself from information is not good.
You need to know there is NFP coming and act according to your trading plan.
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Feb 01, 2019 at 10:15
togr posted:
Isolating yourself from information is not good.
You need to know there is NFP coming and act according to your trading plan.
Yes, sure, this is info trader needed to trade. I meant the information like 'is a order green or still red...' or 'Oh. It looks like a 1% of trend breaching, maybe I should close it early...' or 'remains 3 pips to my sl, maybe I should drag it more to avoid closing, I'm sure, the price will go to profit right now!'...
The AI is the future.
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Feb 03, 2019 at 07:26
i agree. if you focus on important info like NFP and refrain from reading all kinds of 'analyst' articles that helps with focus on what reall matters. working at higher timeframe also helps. never every even bother looking at anything less than 1H. it is just noise
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Feb 03, 2019 at 08:16
HyperAI posted:togr posted:
Isolating yourself from information is not good.
You need to know there is NFP coming and act according to your trading plan.
Yes, sure, this is info trader needed to trade. I meant the information like 'is a order green or still red...' or 'Oh. It looks like a 1% of trend breaching, maybe I should close it early...' or 'remains 3 pips to my sl, maybe I should drag it more to avoid closing, I'm sure, the price will go to profit right now!'...
Mate’ what does info traders mean? I have no idea on this type of terminology. Did you mean news trader?
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Feb 05, 2019 at 12:12
Adribaasmet posted:Greenwood posted:
Are you saying that emotions are good or bad?
I think, good emotions are supportive but bad emotions are not.
A human body and reactions of a brain are not indicate a different emotions. Emotions are chemical reactions inside body. In this way, there is no differ between good and bad emotions. There is only your chemistry.
my experience is my profit
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Feb 05, 2019 at 13:29
Prest posted:Adribaasmet posted:Greenwood posted:
Are you saying that emotions are good or bad?
I think, good emotions are supportive but bad emotions are not.
A human body and reactions of a brain are not indicate a different emotions. Emotions are chemical reactions inside body. In this way, there is no differ between good and bad emotions. There is only your chemistry.
That doesn't help one bit. The problem we have is how to deal with emotions in trading. It doesn't matter about the chemistry
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Feb 06, 2019 at 06:47
Its incredibly hard for the average person to take emotions out of trading or anything to do with money. The main reason a lot of people fail is when their emotions get the best of them and they start to chase loses.
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Feb 06, 2019 at 09:01
Teejy88 posted:
Its incredibly hard for the average person to take emotions out of trading or anything to do with money. The main reason a lot of people fail is when their emotions get the best of them and they start to chase loses.
Emotions can be avoided by
- strictly following trading plan
- creating robot which strictly follow trading plan
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Feb 06, 2019 at 12:46
Ognjan posted:hehe😄Prest posted:Adribaasmet posted:Greenwood posted:
Are you saying that emotions are good or bad?
I think, good emotions are supportive but bad emotions are not.
A human body and reactions of a brain are not indicate a different emotions. Emotions are chemical reactions inside body. In this way, there is no differ between good and bad emotions. There is only your chemistry.
That doesn't help one bit. The problem we have is how to deal with emotions in trading. It doesn't matter about the chemistry
What do you know about how to use a body chemistry?
1. Using a psychology rules and principles to affect your emotions.
2. Using external chemistry to affect your own chemistry.
my experience is my profit
