Is it possible to feel no emotion when you win or lose a trade?

This is a discussion on Is it possible to feel no emotion when you win or lose a trade? within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by Forexmospherian Every human being will has to deal with their own emotions through their life. Some wear ...

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Old Sep 19, 2014, 10:27pm   #16
 
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Originally Posted by Forexmospherian View Post
Every human being will has to deal with their own emotions through their life. Some wear them on their sleave- sharing them openly - while others remain totally in control and keep them hidden - no matter what situation they are dealing with ie a family Bereavement - or being left a large amount of money from an Aunt

Situations that occur more regularly can be normally handled with less emotion - is the mind gets used to the situation and deals with it with less feeling.

With regards to trading - that is one reason I prefer to trade short term - I am totally used to winning and the trades I lose on are nothing new to the mind - they basically happen every session and are quickly overcome with no big worry :-)
F - Good for you. Glad it works for you that way. I wish I could do that, but trying to catch market moves up and down all day wears me out. Causes anxiety, and drains me emotionally, as I feel I am a slave to it. Plus it doesn't help that so far, I'm just not very good at day-trading

Only way I can trade is to be able to walk away whenever I want to. Forget about it whenever I need to, whether I'm in a trade or not, at any time. If I'm focusing primarily on H1, H4 and D1 time frames, it doesn't really matter what time of day it is, I can still enter a trade at a candle close, or just wait till the next period. Plus it gives me lots of time to do things that calm me down, as I admit that trading in itself does not calm me down

Again, this is not to criticize your style of trading. I actually wish I could trade the way you do, as I would love to be able to leave each day behind with my profits banked, and losses recovered and then some. I just can't seem to keep emotions controlled doing that.

I can't count how many times I've chased the market up and down all day, only to find if I would have just bought and held or went short for the day, I'd have banked 1 or 2 hundred pips or more.

I'm not for holding trades for weeks at time, and am not comfortable holding trades over the weekend. And if I can enter a trade, and close it out the same day with a good R:R then I'm all for that too. But I'm finding the daily and H4/H1 time frames cause me less anxiety, and less emotional turmoil.

Some will say for day trading, there are good and bad times to trade, times when the market moves, and times when it stagnates. But the way I see it, the market itself determines when it is going to move, and it does not care what time of day that is. So, I just look for the signals on the H1 H4 and D1 time frames which tell me when the market will move and which direction.

For me, this style of trading helps me to keep my emotions under control, and helps me not to get too excited if I lose, or win a trade...
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Old Sep 19, 2014, 10:40pm   #17
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I went to a paid seminar a while back with Steve Ward - Mentor to many supertraders and author of "high performance trading"....

he actually spent a lot of time talking about how stressful trading is and therefore you have to train mind and body to handle it ..........we also watched a lot of stuff re the SAS and special forces and SWAT teams training where they visualise and condition themselves to handle stressful situations.day in day out

practice , execution , practice , execution, repeat , review , repeat review.........the more such things are trained and visualised and simulated and indeed real time actioned.....the more they become part of what you can do all the time .............you will never ever get 100% used to it but you will do it a damn sight better than not doing it much at all

after the session he also confessed that many of his clients suffer from incredible fits of depression , uncertainty and fear even though they are "masters of the universe"...........and that's where he and other support teams step in to patch them up

so don't get too upset ....it happens to the best of them it seems

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Old Sep 20, 2014, 2:34am   #18
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You have to forget what worked and what didn't work each day. The market changes all the time. A setup that made you $1k last month doesn't guarantee you'll make $1k this month or $12k in a year. I take trading one day at a time. Once 4PM comes, I drop my emotions on the day. I'm not going to be eager to trade ABC the next day because I made $100 on it today, and I'm not going to ignore XYZ because I lost $100 today on it.

Emotions are natural, just learn to start each morning neutral. Take it like football. You beat one team 30-10. Does that mean you continue to use that gameplan the following week against an entirely different team before taking the time to evaluate the new variables?

Good emotions are just as bad as the bad ones. For example, I lurk a chatroom with a ton of newbie traders. They've been making a pot full of gold on the recent IPOs. BABA is the largest IPO ever. They were so boosted on confidence and CNBC loves it and it's going to the moon. Half of them going all in on their accounts at open around $94-96 and could of made some profit, but they didn't sell. They let winners turn into losers and held it all day thinking it's gonna run to $100+ and make new highs. Some got out in $90s. They completely lost grasp of everything because of positive emotions. I bet half of them won't even be back on Monday.
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Old Sep 20, 2014, 12:30pm   #19
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As a relative newbie, no I can't rule out emotions. I agree familiarity and repetition help reduce it as does scaling all risk down, but until the pot grows scale remains. Maybe we should ask how long does it take to reign in your emotional response? X years, y trades, or is it better to shift your trading style? My time is limited for trading so I have to hold overnight and weekend but have grown more comfortable doing that with time and repetition, but its sometimes still a rollercoaster - but then isn't that part of the rush...?
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Old Sep 20, 2014, 1:42pm   #20
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there will always be emotion.you have to come to accept wins or losses as you improve as a trader.
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Old Sep 21, 2014, 3:10pm   #21
 
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Great Post
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Old Sep 22, 2014, 12:37am   #22
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We're taught the the psychological aspect of trading is extremely important. That you need presence of mind and discipline to stick with previously established trading plans and know when to book profits and losses.

We're told that emotions simply can't get in the way. But is it really possible to feel no emotion when you win or lose a trade?
No, I don't think that's possible to have no emotions at all, but what you can do is to control it.
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Old Sep 23, 2014, 2:32pm   #23
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Originally Posted by peeterwoolf View Post
No, I don't think that's possible to have no emotions at all, but what you can do is to control it.
Which leads to the question... how? Which methods have you found effective?
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Old Sep 23, 2014, 4:41pm   #24
 
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The years spent dampening my emotions has helped (but not entirely eliminated) high & low stresses of daily trading. However, for me, this does have repercussions in everyday life. I now cannot get enthusiastic or despondent about anything.

Okay, nothing fazes me now, but nothing excites me either. What used to be in a range of absolutely superb ... to ... devastatingly awful. Is now, "not bad" through to "had better"
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Old Sep 23, 2014, 4:53pm   #25
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The years spent dampening my emotions has helped (but not entirely eliminated) high & low stresses of daily trading. However, for me, this does have repercussions in everyday life. I now cannot get enthusiastic or despondent about anything.
Was this achieved using antidepressants as this sounds exactly the same as people who are on them ?
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Old Sep 23, 2014, 9:13pm   #26
 
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Was this achieved using antidepressants as this sounds exactly the same as people who are on them ?
The viagra tablets I bought off ebay haven't worked properly. I wonder if . . . ?
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Old Sep 23, 2014, 11:10pm   #27
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As above. I've experimented with various substances while trading and found I get just as emotional. I don't think anything exterior to your self matters too much. It's what you are and how you react that matters. And there's not much to be done about it. I've seen chaps try and sweat it out and beat it out of their systems - why? It's part of ya. Accept it. Be aware of it. Be ready for it.
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Old Sep 24, 2014, 11:02am   #28
 
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If people think they dont get emotional over trades I suggest they buy one of those heart rate monitors, or you can get an android app which uses your camera for free, or a smart watch.
I really dont think you can say you are unaffected by emotions, it is difficult as a human to tell if you are because you have no external frame of reference. You are 'normal' or so your rational brain tries to tell you, the policeman with his hand on his stun gun saying put down the knife might beg to differ.

Ask your partner at the end of the day whether she thinks you had a good or bad day at the office, then post again saying if your emotions affect you.

Anyone ever had 5 losing days in a row or maybe 10, tell me that didnt affect your judgement and ability to enter the next trade.

As to how to deal with your emotions, we've had some good answers, size matters but bigger is not better. Also if youve had an exceptional day be it good or bad, take a break. Treat yourself to a day off, smell the roses and spend some of the money you've made, that way Mr Market cant take it back off you.
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Old Sep 24, 2014, 3:51pm   #29
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The only times I don't care whether I win or lose is when the trade is for small money because it has no effect on anything - but that is the exact level you should be trading. It's extremely difficult to trade with meaningless money because I just don't care if I lose so I take big risks and gamble it away.
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Old Sep 25, 2014, 1:28pm   #30
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Originally Posted by Sharky View Post
We're taught the the psychological aspect of trading is extremely important. That you need presence of mind and discipline to stick with previously established trading plans and know when to book profits and losses.

We're told that emotions simply can't get in the way. But is it really possible to feel no emotion when you win or lose a trade?
Hmm. Well we all have emotions. Some of us keep them under control more than others.

I think what I do nowadays is prepare for the eventualities of trading.
If my trade profits a lot I think "so what, sometimes you get movement, I prepared for that". And if I lose, I think "so what, x % of the time I expect that".

In other words, I'd equate my emotions of yrs gone by with lack of preparation.

Nowadays, my trading emotions are very small compared to other things in life. Such as ... my football team does ****, I have an argument with a relative, or see some politician doing ****.

The key think is that you are largely objective AND are still happy and grounded in what you do. A silent, moderate contentedness not thrills and adrenalin.
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