How can you control your emotions in FOREX market
Completely turning off one’s emotions is rather impossible. Humans simply have them and it is an indubitable truth. There is no use subduing them as it may even do some harm to you psychological or physical health.
Though, you can save your thoughts safe from emotions by following some tips and hints. Don’t be afraid, you will not have to lose your human nature! All you have to do is limit yourself with some strategic and money management rules by keeping a stable percentage of your deposited money for trading and not deviating from that rule. After that, you have to severely follow your strategy. Even if you feel like breaking the rules “… just once to earn more money or save a losing situation …” you shouldn’t: you should do your best to follow the rules at all times.
What if you give up? Alexander Elder, a famous writer of books about stock market trading, compared losses in trading with alcoholism. Any trader can sometimes be attraction by an eye-catching market situation like anyone can be by a glass of wine. But a frequently losing man is like an alcoholic, he is not able to stop. At first he might give up his strategy in order to try to earn more money, under the influence of avarice, or else he might close a position too early because of fear. There then follow disordered and confused steps away from the strategy, and ultimately the strategy simply disappears, just like a couple of glasses of his favorite drink.
Likewise, it is foolish to believe you are a completely exclusive person who can always bet against the market successfully.
Likewise, it is unwise to believe you are a completely exclusive person who can always bet against the market successfully.
Detachment is the key to success! It kills fear, your mental and physical satisfaction. It should avarice, bother and unawareness – all that could positively affect your mood and motivation as spoil your successful speculation. Detachment our body and subconscious are trained reflex provides you with confidence, determination, lively by remembering and categorizing situations constancy and attentiveness – qualities that in our memories. Our body is an animal. Just you need when trading.
Written by learn forex division
FxErvin