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[Mar20]

Emotions play a significant role in financial trading, and forex trading is no exception. Fear, greed, hope, and excitement are just a few of the emotions that traders can experience while trading in the foreign exchange market. However, allowing emotions to control one's trading decisions can lead to poor results and financial losses.
Fear is one of the most dangerous emotions in forex trading. Fear of losing money can lead traders to close their positions too early, resulting in missed opportunities for profit. On the other hand, greed can cause traders to hold onto positions for too long, hoping for even larger profits, only to see their gains disappear as the market moves against them.
Hope is another emotion that can be problematic in trading. Traders may hope that a losing trade will turn around and become profitable, leading them to hold onto the position for too long, hoping for a market reversal that may never come.
Excitement can also have a negative impact on forex trading. Traders may become overly confident and take on too much risk, leading to significant financial losses.
To combat the negative effects of emotions in trading, it's important for traders to have a well-defined trading plan and to stick to it. This plan should include specific rules for entering and exiting trades, as well as guidelines for risk management. By following a set of rules, traders can take the emotion out of their trading decisions and focus on the technical aspects of the market.
In conclusion, emotions can play a big role in forex trading and can have a significant impact on trading results. By being aware of the emotional pitfalls and implementing a well-defined trading plan, traders can minimize the impact of emotions on their trading decisions and improve their overall results in the foreign exchange market.

 

[AndreD]

Emotion is the number one reasons that most forex traders losses there money. Emotion is one part that I have lost most of money after I have made more than 5 times of my capital in profits and lost all in a day simply because I thought that I will the price will continue to go my way untill it fell the next day that I checked my trade.

 

[Crystal247]

Since trading is all based on imagination, there's no way emotion would not has effects and draw your reaction. To make this reduce, it's better to understand how you control your emotion and the particular profits you're targeting.

 

[Crystal247]

Emotion is the number one reasons that most forex traders losses there money. Emotion is one part that I have lost most of money after I have made more than 5 times of my capital in profits and lost all in a day simply because I thought that I will the price will continue to go my way untill it fell the next day that I checked my trade.

The same thing also happened to me recently while trading on Lbank, the cryptocurrency exchange. My though it wasn't up to my targeting profits, but actually it failed and then loses follow. Traders needs to be active and careful.

 

[AndreD]

The same thing also happened to me recently while trading on Lbank, the cryptocurrency exchange. My though it wasn't up to my targeting profits, but actually it failed and then loses follow. Traders needs to be active and careful.

That is why we should always deal with strategy not emotion. But the sad part in this is that , after I know that emotion will kill my trade, I still let my emotion decides for me and I do lose sometimes.
How is Lbank compared to Binance exchange because this is the first time that I will hear about the exchange.

 

[Wisdom01]

Emotions is actually a cognitive something in trading and investing ,you should gain control over your emotions when trading , because based on my observation trading comes with great amount of risk thereabout

 

[Crystal247]

Since trading comes with several risks and also comes with a reasonable profits, it's good to avoid a greedy habits and focus on a reasonable amount of income. It's important to follow mentor instructions and time market condition to avoid some unnecessary loses.

 

[Ptrikha90]

Very well said!
Emotions and Fear can be a big factor in trading.
At times, we do fall to a bias towards early exit or holding on too much.me,
What I have started following is a "limited" profit booking, a mix of holding and selling, avoiding selling in a short time, say within a month or so, unless due to a very specific reason.
One must lay down norms for Trading and yes, one needs to change plans as per new developments and trends as well.

 

[Try2biteme]

Very well said!
Emotions and Fear can be a big factor in trading.
At times, we do fall to a bias towards early exit or holding on too much.me,
What I have started following is a "limited" profit booking, a mix of holding and selling, avoiding selling in a short time, say within a month or so, unless due to a very specific reason.
One must lay down norms for Trading and yes, one needs to change plans as per new developments and trends as well.

So how u deal with emotions ?

 

[Wisdom01]

Very well said!
Emotions and Fear can be a big factor in trading.
At times, we do fall to a bias towards early exit or holding on too much.me,
What I have started following is a "limited" profit booking, a mix of holding and selling, avoiding selling in a short time, say within a month or so, unless due to a very specific reason.
One must lay down norms for Trading and yes, one needs to change plans as per new developments and trends as well.

Yeah to become very profitable everyone should understand that emotions are important concern ,every trader should necessarily be able to put their emotion in order when they are particularly trading I think

 

[Ptrikha90]

Yeah to become very profitable everyone should understand that emotions are important concern ,every trader should necessarily be able to put their emotion in order when they are particularly trading I think

At times, the key is also to control emotions. If not controlled, they can rather cause challenges.

 

[Wisdom01]

At times, the key is also to control emotions. If not controlled, they can rather cause challenges.

Yeah the key is actually to control emotions as a trader it's actually important for you to actually learn to control your emotions , you should know when to trade and how to trade it's so important and of more concern

 

[Ben Kempton]

Emotions is actually a cognitive something in trading and investing ,you should gain control over your emotions when trading , because based on my observation trading comes with great amount of risk thereabout

Unfortunately, in many cases, it could be quite hard to control emotions, especially when it comes to trading. Becoming emotional is a natural thing. The main problem arises when your trading strategy fails to work. Under such kind of circumstances, traders may also experience anxiety as well, which is also a kind of emotion as well. Revenge trading is also a very big problem for many people. The best way to stop is to understand that revenge trading will lead to more losses.

 

[Wisdom01]

Unfortunately, in many cases, it could be quite hard to control emotions, especially when it comes to trading. Becoming emotional is a natural thing. The main problem arises when your trading strategy fails to work. Under such kind of circumstances, traders may also experience anxiety as well, which is also a kind of emotion as well. Revenge trading is also a very big problem for many people. The best way to stop is to understand that revenge trading will lead to more losses.

Revenge trading is an important concern in trading , as a trader you should understand the trading concept , trading knowledge to apply and others , all these should be considered when trading

 

[Ben Kempton]

Revenge trading is an important concern in trading , as a trader you should understand the trading concept , trading knowledge to apply and others , all these should be considered when trading

Revenge trading basically involves trying to get the lost money back. It could be quite addictive, but destructive behaviour. People should never focus on getting the money back. They should rather focus more on preparing the right kind of strategy if they want to become better traders. This is the best "revenge" they could take.

 

[Wisdom01]

Revenge trading basically involves trying to get the lost money back. It could be quite addictive, but destructive behaviour. People should never focus on getting the money back. They should rather focus more on preparing the right kind of strategy if they want to become better traders. This is the best "revenge" they could take.

Thats the thing there , I was once trying to do revenge trading when I was just starting trading then , but to be honest it worked bad for me , so I would never advice any one to try such and think it would work so well , most of the time it doesn't work well

 

[EBUBEJAH]

Emotions play a significant role in financial trading, and forex trading is no exception. Fear, greed, hope, and excitement are just a few of the emotions that traders can experience while trading in the foreign exchange market. However, allowing emotions to control one's trading decisions can lead to poor results and financial losses.
Fear is one of the most dangerous emotions in forex trading. Fear of losing money can lead traders to close their positions too early, resulting in missed opportunities for profit. On the other hand, greed can cause traders to hold onto positions for too long, hoping for even larger profits, only to see their gains disappear as the market moves against them.
Hope is another emotion that can be problematic in trading. Traders may hope that a losing trade will turn around and become profitable, leading them to hold onto the position for too long, hoping for a market reversal that may never come.
Excitement can also have a negative impact on forex trading. Traders may become overly confident and take on too much risk, leading to significant financial losses.
To combat the negative effects of emotions in trading, it's important for traders to have a well-defined trading plan and to stick to it. This plan should include specific rules for entering and exiting trades, as well as guidelines for risk management. By following a set of rules, traders can take the emotion out of their trading decisions and focus on the technical aspects of the market.
In conclusion, emotions can play a big role in forex trading and can have a significant impact on trading results. By being aware of the emotional pitfalls and implementing a well-defined trading plan, traders can minimize the impact of emotions on their trading decisions and improve their overall results in the foreign exchange market.

Emotions is one of the most important factors in trading any financial market, one needs to control his or her greed level properly in order to maintain profit, not being greedy while in the market.

 

[Gamer01]

Yes you are right trading is not for everyone and only patient people can do this perfectly indeed you have to always make sure that you are able to do things like trading with much ease always and are able to turn the benefit of it in your favored way always indeed actually .