12 answer from professional traders: How do you deal with the emotional in your trading? Dealing with emotions is a very important aspect when it comes to trading with success and konsekvenspsykologin can be significant. As traders, it is therefore very important for you to understand how emotions affect your daily trading and that you find a way to deal with the psychology effectively. In this article, we asked 12 professional trader and author of the best-selling handelsböcker how they deal with emotions on a daily basis and what helps them to control and manage handelspsykologin.
NewTraderU.com – @SjosephBurns
Early in my career I let my feelings dominate my business. My självvärde was attached to each of the profit and loss. I used to trade so large that each performance felt like life and death and losses, was seriously harmful for my account. But after that I reevaluated risk management and the 1% rule, everything changed. Not only was I healthier mentally, but my merchant account was never in the dangerous position again. By implementing the appropriate SL-positioning and cutting down the losses, is I now in the long term because I know that every trade is only one of many.
Dr. Brett Steenbarger
Traderfeed Blog – @Steenbab
Although it is common to emphasize the emotional / psychological factors as the causes of bad trade, I find it equally, if in reverse. Emotional disturbances are often the result of: (a) poor risk management and (b) the lack of diversification. The combination of these creates a more volatile returserie, which, in turn, stimulates the emotional volatility. Psychological techniques to manage stress can be useful but even more useful is to identify and correct the causes of the stress. Calls to ”follow your process” is to no avail when the process itself is missinformerad.
Assena.com.au – @AssenaWealth
Prevention is the first step when dealing with emotions during the trade, prevention is the best cure.
Find a strategy that you are comfortable with, that fits your personality and exercising at least emotional capital. Even then, most traders have exaggerated emotional swings throughout his career. The problem is that most of the trader become so emotional that they do not identify that they have lost emotional control.
An exercise I used when I lost emotional control was to put on an alarm that is triggered at certain intervals, the intervals closer to each other in periods of high volatility in the market. When the alarm is triggered, make a conscious effort to calm himself and look at himself in the third person. I still do until today, but without the alarm.
Forexachievers.com – FB / Forexachievers
Fear and self-esteem. The joy of life and överförtroende. This is the feelings that can plague the unwary trader. These feelings have a certain control over me. If I stop a day with loss, ends I trade during the next 2 to 3 days. I stop even trade after I have achieved my goal for the day or the week. I follow these rules and make sure that I keep my emotions in control.
Forex School Online
Forexschoolonline.com – FB / ForexSchoolOnline
I strongly recommend that all traders have a förhandlingsplan that they have prepared before they go into any trade that includes their entry, stop, and how they plan to manage the trade, instead of to enter the trade and then try to figure it out by looking at their account balance.
50pipsfx.com – @ 50pips
You need to seriously deal with understanding the markets, handelsmekanik, the leverage and context. Remember that trading is an extremely difficult way to live. It is not a ”job” in the strict sense of the word, but it is a profession and if you don’t succeed by treating it as a business, you will find out the hard way how physically, mentally, and financially challenging it can be. Don’t let anyone give you the false impression that this is easy and there are shortcuts.
Steve (UK Trendfollower)
TheTrendfollower.com – @UKtrendfollower
1. Risking a small percentage of your equity.
2. Due to my selected method takes the actual ”plot” just a few minutes each day. I do all my planning, looking for new setups mm, outside marknadstimmarna. All I do when the market is open is uppdateringsstopp if needed, and I put an order to open new business at the required levels. When I have done what I needed to do, I close down my trading platform! I am aware that there are only a few things I can control – the risk, I was going into business and I was stop and stop. I can’t control what the market is doing. To look at each pocket when you are a trendföljare is not necessary and is counterproductive. It can cause you to make bad decisions, which are irrational and often taken in a panic. To stick with my process and my daily work schedule means that I avoid making emotional errors.
JKonFx.com – @JoelKruger
Most of you out there have dagsjobb. Some days are good and some days are bad. But for the most part, you will not be overwhelmed because you know that this is just a part of the routine. When things are good or bad, the reaction is healthy and proportional. The reaction does not consume your life. You know that this is a part of it and you continue to go on. It should pour not be any different with trading. You must act in the proportion. Trading on leverage in proportion to how much money you have in your trading account.
OptionsTradingIQ.com – @OptiontradinIQ
My tips for keeping your emotions in control is to not look at all the markings. This just causes stress and can lead to bad decisions. One of the best ways to limit this is to log on to your brokerage account at certain times of the day. For example, some traders choose to sign up for the last 1 hour of the trading day. To get away from the screens and not look at all the small movements in the market can help traders to become less emotionally involved.
HenriSimoes Blog – @traderHMS
Well, this is miljonfrågan, sure it is? The answer is obviously very complex but I will try to simplify it a little bit.
First of all, one must be completely sure of his handelskant. I often have my handelssystems readings on my desk and I stare at them through the session. On the way, I know that I receive on average these handelsresultat. Because the key is not to become very emotionally involved in every trade you make, but rather to consider to be effective in a wide range of shops, such as each trade you will make in a day, a week or a month, depending on your strategy and timeframe.
Once again, if you’re very confident in your strategy and also in your ability to implement it properly, you have nothing to fear. Time will take care of itself, the profits come in. But even if the idea is relatively simple and easy to understand in order to reach the condition so you need a good brain, patience, thousands of shops in the experience and the right belief. I could write a book on just this topic.
Michael G Lamothe
ChartYourTrade.com – @MichaelGLamothe
How I deal with emotions during trading is that I start with the preparations while the market is closed and includes the following:
Have a process to analyze the market condition from the inside and the outside through my own eyes. To understand what happens over time, over the index and what happens with it, I am most interested in.
Have a system and a set of tidstestade rules that can manage the current market environment. If I don’t have any for the current environment, is I not.
Develop a plan for each trade that contains the following:
– Time frame
– Entry point
– Starting point, if I’m wrong (skyddsstopp)
– Trailing stop
– Potential target where I take profit, or to rethink the position
– What share of the capital at risk on the position
– How does this trade fit in with my current portfolio
Apart from my first admission and my protective stop is my actions based on the end of the day or the end of the week activity.
H. Avni Kefeli
To have a trading strategy that fits your personality is a threshold value in the trade, which means that you can focus on the management of your trade than to check on entry – and exit-signals. The more you trust your trading strategy and feel comfortable with it, the more capable you are of your feelings. In the meantime, I have also taken advantage of to make a plankövning before I started to trade. It is well known that it reduces the emotional burden.