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Thread: Emotions (money management)

  1. #21
    Quote Originally Posted by ;
    quote I am not sure I understand the difference. In end, one loses money because they make a bad decision because they are emotionally affected, hence they lose money because of emotions?
    It is naturally to feel awful once you drop cash or have lots of losing trades in a row. But if you keep denying your emotions (because you're told that you will need to trade without feelings), then the feelings will amplify and might permit you to overtrade or revival commerce, because you are acting out your feelings. But if you welcome those feelings and thoughts, you create a space between them and the actions/errors you may make.

    Does that make sense?

    If you would like a more comprehensive answer, I will suggest you look more into mindfulness generally.

  2. #22
    Quote Originally Posted by ;
    quote It's naturally to feel awful once you drop cash or possess many losing trades in a row. But if you keep denying your emotions (since you're told that you need to trade without emotions), then the emotions will amplify and may permit you to overtrade or revenge trade, since you are acting out your emotions. However, if you welcome those emotions and ideas, you create a distance between them and the actions/errors you may make. Does that make sense? If you'd like a more in-depth answer, I will suggest you look deeper into mindfulness in general....
    That certainly makes a lot of sense. Thank you.

  3. #23
    I presume, your money management skill is that making you remain in the market. A trader that finds it difficult to handle his funds funds himself from the market earlier than he expects. It will not come easy and the skill necessary in risk management is one that develops with time.

  4. #24
    Controlling emotions is essential. Along with that you just need to have money management methods, correct trading program and due knowledge about the market. Appropriate set rules for your own trading program can help you combat emotion out of your trading. And as above stated, money management is most essential and helps to keep your money in hands, which ultimately can lead to emotional control.

  5. #25
    Quote Originally Posted by ;
    quote Truthfully, the only thing that worked in the end for me was gaining expertise. The more I exchanged, the amount I became. And even so, the reality is I have moments when I am not calm and cool-headed. What works for you?
    Exactly! This functions. I am always learning how to control emotions by obtaining understanding and practicing it in my trading. Sometimes when I break down then turn off my laptop and go for a walk. It cools my heightened feelings and that I get back on the pub again.

  6. #26
    Quote Originally Posted by ;
    quote Exactly! This functions. Even I'm always learning how to control emotions by obtaining understanding and practicing it in my trading. Sometimes when I split down I turn off my laptop and go for a stroll. It cools down my heightened emotions and I get back on the pub again.
    That's exactly what I do too, sometimes. Turn everything off and go out to clear my mind. I think that it is crucial to highlight to newbies that they need ton't stare at the charts daily, even if they are successful. An individual ought to occasionally just break their eyes and their mind from trading.

  7. #27
    People blame emotions and cash management due to their losses when the core difficulty is that their egy isn't effective. Virtually all egies handed around this forum are predied on what amounts to sorcery and fortune telling and don't have any foundation in fact. When you find a egy which you know is based on market fact, then you can blame emotions such as fear (especially) for cutting your winner off early or making you transfer your stoploss to break prematurely. Until then, emotions are the wrong thing to focus on since the account killer.

  8. #28
    Quote Originally Posted by ;
    People blame emotions and cash management due to their losses once the core difficulty is that their egy isn't effective. Virtually all egies handed around this forum derive from what numbers to sorcery and fortune telling and don't have any basis in fact. If you discover a egy that you know is based on market fact, then it is possible to blame emotions such as fear (especially) for cutting off your winner early or making you transfer your stoploss to split prematurely. Until then, emotions are the wrong thing to focus on since the primary account killer....
    I really don't feel that anyone thing they are the primary account killer, although they are among many factors in that situation. Even if you've got an excellent, profitable egy, if you are just too scared and/or greedy to follow it since you should you will lose money.

  9. #29
    Quote Originally Posted by ;
    quote I really don't think that anybody thing they are the primary account killer, though they are among the many factors in that circumstance. Even if you have a good, profitable egy, if you are just too scared and/or egotistical to follow along as you should you'll lose money.
    Mlawson71, I concur. One can have a perfect egy that would earn money in the long term, but don't stick to the egy due to the traders mindset. When I had to choose what comes, mindset or egy? I would say mindset, and then egy. Mainly because, if you have the ideal mindset, then you will gradually receive a egy that's profitable. Trading is such a foreign field for most of us mentally, that I think that the biggest hurdle is the mindset and the willingness to adapt.

  10. #30
    Quote Originally Posted by ;
    quote Mlawson71, I agree. An individual can have a perfect egy that would make money in the long run, but don't follow the egy due to the traders mindset. If I had to choose what comes first, mindset or egy? I'd say mindset, and then egy. Mainly because, if you have the ideal mindset, you will eventually receive a egy that's profitable. Trading is such a foreign field for nearly all of people emotionally, I feel that the biggest barrier is that the mindset and the willingness to adapt.
    That was very well-put. The appropriate mindset and the discipline have to already be there once you grow or find out a profitable egy. Otherwise it'd be useless.

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