You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
how do you keep emotions out of trading?
- Thread starter bat1
- Start date
This makes great sense to me though I will disagree on some of the later points.Quote from joe4422:
Personally, I've always liked emotions, and I'm not sure why everyone is always trying to get rid of them.
I guess people are incentivised to think that everyone who is not absolutely mediocre is abnormal.Quote from joe4422:
I think it's a deeper problem in our society. That's why we spend so much time as hospitals and popping pills all the time. Seems like 1 out of every 3 kids today is on some kind of emotion controlling medicine.
This should work for anyone who can overcome their amotions. Can you recommend any mediatation course?Quote from joe4422:
Instead of trying to keep emotions out, I recommend exploring your emotions, and bringing them out.
IOr just had too much coffee... or you are just naturally excitable... or you just had an argument with your girl(boy)friend.Quote from joe4422:
If you feel alot of anxiety, that's probably telling you that you're gambling.
Or you have just lost a job that paid for your trading antiques or you just don't like the dominating colour (brown, thanks to teh name of the British prime minister).Quote from joe4422:
If you feel defeated and depressed, it's probably because you're going counter trend.
Or you have just spent too much money on the date or escort you didn't really like.Quote from joe4422:
If you feel very happy, that probably means you're making money
Except you may feel tempted to put a few trades on with no particular reason but to make the life a bit more interesting.Quote from joe4422:
If you feel bored, then you're probably trading the way you're supposed to.
This game is an emotional challenge , fear and greed will impact your rational thinking .
Quote from joe4422:
Personally, I've always liked emotions, and I'm not sure why everyone is always trying to get rid of them. I think it's a deeper problem in our society. That's why we spend so much time as hospitals and popping pills all the time. Seems like 1 out of every 3 kids today is on some kind of emotion controlling medicine.
Instead of trying to keep emotions out, I recommend exploring your emotions, and bringing them out. If you feel alot of anxiety, that's probably telling you that you're gambling. If you feel defeated and depressed, it's probably because you're going counter trend. If you feel very happy, that probably means you're making money. If you feel bored, then you're probably trading the way you're supposed to.
So here's how I would sum it up:
1. If you're freaking out, full of anxiety etc.., = use smaller size of an un leveraged instrument. Risk no more than 10 dollars per trade, and trade only once a day. Then figure out how to make a succesful trading plan.
2. If you're depressed and feel defeated, ask yourself if you've been trading one direction, while the market has been moving steadily an opposite direction. If so, go the other way with a smaller position, and use a really big stop. Wait until you feel happy again.
3. If you feel happy, have fun, because it won't last forever.
4. If you're bored, welcome to work. Try to have as much fun as you, control your stress because it's not worth the damage to your heart, try to laugh, hey, it's work not an amusement park. You're probably doing pretty well, and doing what you should be doing. Don't fight the boredom. We're not trading to go thrill seeking, the boredom is right where you want to be.
Super tip: Do not go to a trading psychologist. Failed traders are now becoming trading psychologist and charging a few hundred dollars an hour. It pays better than being a guru these days.
It's bullshit.
I like this post as well.
It took me a long time to learn that if emotions are hurting my trading, then I'm doing the wrong type of trading.
Automation helped a ton, and after getting back into some manual trading toward the end of last year, it only took a little time to realize I had to disregard all of the fancy BS out there, and just needed to revert back to a simple breakout strategy I used to employ years ago. There are plenty of opps to choose from each day, the risk is instantly definable, and trading is becoming fun again.
My numbers ain't big, but they're green, and since I'm enjoying what I do again, they'll grow with time.
Success in trading is simple. It just takes 10,000 hours of screen time, finding what strategy works for your personality, and extremely hard work.
There. Now go get rich.
Most guys on this board play with scared money, with other people's money it becomes easyer