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Emotion - the biggest weakness of the trader

  • #81
  • Apr 21, 2016 3:55pm Apr 21, 2016 3:55pm
Quoting HeyYou
{quote} I've had enough of manual trading, even thought I could be hypothetically more profitable, my EA's are programmed not to be greedy. They're myself without greed, impatience, recklessness, paranoia about price manipulation etc. One can say "work on them". I say "NO WAY", especially recklessness.. I came to the conclusion that I'm reckless by nature because I'm still experiencing the same mistakes after years of "improving". I don't think one can control his/her own tendencies for long... sooner or later they'll come out ! Can you ? good for...
I think I agree with you on some points. I like your definition of discipline. After I read your post, I realized that each trader has his own way to achieve discipline.
  • #82
  • May 7, 2017 1:45pm May 7, 2017 1:45pm
Inserted Video
  • #83
  • May 9, 2017 12:04am May 9, 2017 12:04am
In the Forex trading business, I do believe that emotions must be set aside. We must not be affected with the loss that we encounter. We must learn from our mistakes and think of the things that made you lose. We must learn to accept the losses that we made for it is inevitable.
Sweet Princess, ForexMart
  • #84
  • Dec 19, 2017 1:39pm Dec 19, 2017 1:39pm
Inserted Video


My Implicit thought is what caused my big losers, Margin calls would be based on the "I am not consistent enough to trade a certain way."

Thus entering in a sequence of trades that kills me more times then I gain. Yet that video has really helped me al ot to at least understand the problem. Now if I apply it I should see the true results of my trading bias..
  • #85
  • Dec 29, 2017 12:21pm Dec 29, 2017 12:21pm
Quoting ReneLH
Hello! I want to offer you a thread of psychology. Many traders work aims to identify the market expectations and its further actions, but we must remember that not the least influence on the trader's success is the psychology. This was written many books and articles. And I would like to raise this topic for discussion, because it is important and useful for both experienced and beginner traders. I would like to begin to survey the basic provisions and principles of the psychology of the trader. Trader - Market Researcher. The market is related...
Yes. Forex trading is associated with emotions. It is said that forex is 90% psychological. It is the emotional factors for which many good forex mentors are not good traders. They have the knowledge but they can't control their emotions.
  • #86
  • Mar 1, 2018 8:10pm Mar 1, 2018 8:10pm
Tony Robbins - Steps To Emotional Mastery

Inserted Video
  • #87
  • Mar 1, 2018 8:30pm Mar 1, 2018 8:30pm
1.- Be disciplined, follow a solid plan every freaking day (you are not a 5 year old kid for god sake, stick to the plan)

2.- Accept the fact that IF you want to make money you HAVE TO risk money (there is no way around this)

3.- Grow a fking pair of balls, stop the excuses already !!


There, thats your "mindset, psychology" etc etc nonsense in a nutshell (the more you read the more confused and full of BS you are gona get)..

Your Welcome
  • #88
  • Mar 1, 2018 9:12pm Mar 1, 2018 9:12pm
The biggest weakness of any traders is Dollars and Sense but not necessary in that order.

Hehe
GS
  • #89
  • Mar 1, 2018 11:17pm Mar 1, 2018 11:17pm
Quoting ReneLH
Remember Jesse Livermore, a great speculator, who twice became rich, but each time lost their capital. On the third - he shot himself. Must be able to control whether the emotions. On this, I would write the following comments later.
Jesse Livermore was a very talented trader. Unfortunately, he chose to approach trading with a gambler's mentality, with zero regard for risk management.
'For the market to work, it needs people who think that they can beat it.'
  • #90
  • Edited Mar 2, 2018 1:05am Mar 1, 2018 11:36pm | Edited Mar 2, 2018 1:05am
Quoting ReneLH
Continuing the theme of how to influence your psychology: You can influence your emotions in several ways: - ...
in my opinion your list is missing most important component to control emotions: knowledge then comes discipline and patience to apply knowledge. In fact lack of knowledge is always trigger for emotions in trading...and there is inability to accept being wrong which is additional trigger for emotions.
NO MATTER THE SITUATION,NEVER LET YOUR EMOTIONS OVERPOWER YOUR INTELLIGENCE
  • #91
  • Mar 18, 2018 6:51am Mar 18, 2018 6:51am
A good video on Psychology in trading by Steve Ira Present, M.S.

Quote
Steve has a Masters Degree in Clinical Psychology, is board certified in NLP, and has 25 years of experience helping clients. Steve specializes in helping traders overcome very tough trading psychology issues.


Inserted Video
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.4%
  • #92
  • Edited 8:29am Mar 18, 2018 7:53am | Edited 8:29am
Emotion - the biggest weakness of the trader

MMh, i donīt think so. Imho most traders have no plan, trade to much every shit setup with a mindsetting like --- oh this could work... Trading is a job, if iīm working in a office, do i have fear, if i work as a mechanicer, do i have fear? No. Why? If my car donīt drive in the right direction, what will i do? At itīs best, i stop the car and look what to do. Are there any emotions? No.
I saw a nice movie, mollies game, itīs about poker and there is one player, who keep his money toghether and even with a good hand he goes out if the risk is to much. All the other players just trying there luck and are gamblers. Thatīs why 90% of traders loose money. Emotions are not the problem, the reason why someone has emotions is the problem!
Just my toughts and sorry for the bad english :-)
(.)(.) think first ...
  • #93
  • Mar 18, 2018 8:21am Mar 18, 2018 8:21am
3.- Grow a fking pair of balls, stop the excuses already !!

YEEEESSSSS, i like this statement, itīs so true :-)
(.)(.) think first ...
  • #94
  • Mar 18, 2018 8:24am Mar 18, 2018 8:24am
Quoting ReneLH
Remember Jesse Livermore, a great speculator, who twice became rich, but each time lost their capital. On the third - he shot himself. Must be able to control whether the emotions. On this, I would write the following comments later.
so far as i have read: he died with 5.000.000,- and had depressions but yes he was a gambler and did it 3 times :-)
(.)(.) think first ...
  • #95
  • Mar 18, 2018 8:36am Mar 18, 2018 8:36am
Quoting maximumguita
{quote} so far as i have read: he died with 5.000.000,- and had depressions but yes he was a gambler and did it 3 times :-)
Guess one lesson greater than emotions is not to bet more than you can afford. Jesse Livermore traded BIG. And he won and lost big too.
Not sure about everyone else but I dont think I'm able to handle the emotional trauma of bankruptcy from trading once, not to mention 3 times!
I look for value wherever it can be found
  • #96
  • Edited 8:58am Mar 18, 2018 8:42am | Edited 8:58am
Quoting synicz
{quote} Guess one lesson greater than emotions is not to bet more than you can afford. Jesse Livermore traded BIG. And he won and lost big too. Not sure about everyone else but I dont think I'm able to handle the emotional trauma of bankruptcy from trading once, not to mention 3 times!
If you dont think that you are able to handle the emotional trauma of bankruptcy, when you know what you have to do. Keep your money together :-) and donīt go broke. I did it once, it was a great lesson :-)
(.)(.) think first ...
  • #97
  • Mar 18, 2018 8:44am Mar 18, 2018 8:44am
Honestly, sometimes when my positions get too fucked up, I jerk off to calm myself down first.
  • #98
  • Mar 18, 2018 8:46am Mar 18, 2018 8:46am
Quoting maximumguita
{quote} If you dont think that you are able to handle the emotional trauma of bankruptcy, when you know what you have to do. Keep your money together :-) and donīt go broke. I did it once, it was a gret lesson :-)
Danm... Some real respect for you man... Hope youre doing well now thou!
I look for value wherever it can be found
  • #99
  • Mar 18, 2018 8:49am Mar 18, 2018 8:49am
Quoting MoneyFocus
Honestly, sometimes when my positions get too fucked up, I jerk off to calm myself down first.
Seriously?!? Haha

You do know that your heart rate increases when sexually aroused. Thus actually stimulating (Pun intended) anxiety somewhat.
I look for value wherever it can be found
  • #100
  • Mar 18, 2018 8:57am Mar 18, 2018 8:57am
Quoting synicz
{quote} Danm... Some real respect for you man... Hope youre doing well now thou!
hey, thanx :-)
(.)(.) think first ...
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