emotion vs. prediction

This is a discussion on emotion vs. prediction within the Psychology, Risk & Money Management forums, part of the Methods category; When I emoted on each trade independent of the trades before it, my emotion matched the trade. I learned to ...

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Old Feb 13, 2016, 5:50pm   #25
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pennycapitalist started this thread When I emoted on each trade independent of the trades before it, my emotion matched the trade. I learned to smooth my emotions over a whole series of trades. It helped for me to believe that over a whole series the end result would be profitable. Recently I had 14 losses in a row; my confidence began to wane. I took a couple of days off from the market, confidence came back, I went back to the market with my same old system and took seven straight wins. When the 1st loss came, it came with little emotion except gratitude that I have learned to limit my losses and maximize my wins tuned to the current market. When the market moves against me and my emotions start to rise, I recall my resolve to trade and believe in the series rather than the individual, watch the stop line on my chart knowing everything is under control. I may move my stop closer to the negative price movement...but never away from it. A history of success in the series drains the emotion of a single losing trade...even a number of them as I mature as a consistently successful trader.
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Old May 28, 2016, 7:43am   #26
 
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Forex market is not for those who are emotional and take any Trades based on their emotions and never base their predictions on their Knowledge and its really dangerous for any one who want to start Forex with such habit.
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Old Aug 11, 2016, 11:25am   #27
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Originally Posted by amittimothy View Post
Forex market is not for those who are emotional and take any Trades based on their emotions and never base their predictions on their Knowledge and its really dangerous for any one who want to start Forex with such habit.
We're all emotional though. It's human nature to be emotional, there's nothing wrong with that. That said, learning how to control your emotions and keep a cool head is vital for any trader wanting to succeed.
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Old Aug 11, 2016, 12:42pm   #28
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For "emotions" in trading we normally think of Fear and Greed. Conjures up an image of a hysterical, manic, bi-polar, frantic trader.

But the term is loose in English and maybe we should keep in mind the danger comes form anything psychological which we project onto the trade, rather than objective information from a chart, etc. So, suspicion, hope, bias, optimism, pessimism, instinct - and all other mental "attitudes" and biases - are going to be prejudicial to objective trading.
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Old Aug 25, 2016, 12:12pm   #29
 
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we can differentiate between affective characteristics (eg. moods and emotions) and cognitive (eg. beliefs and expectations). As regards social factors (eg. Networks and social norms), they act facilitating or inhibiting the expression of a given behavior.
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Old Oct 28, 2016, 5:25am   #30
 
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I don't think emotions should be the directing force when making a decision, whether you're entering a deal or something else. If you keep in mind that emotions are of a temporary nature, you will probably regret the decision you had made several minutes prior and lose a large sum of money in the end. My advice is before entering a deal, think it over for a few minutes and then, after calming down a little make the right choice.
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Old Oct 31, 2016, 12:57pm   #31
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Here, emotions are generally unnecessary. They need to leave, only make decisions with a clear head and no emotion
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Old Dec 10, 2016, 2:10pm   #32
 
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Originally Posted by radhikha singh View Post
it is not practically possible to become emotionless as you are not a trading robot.. but yes you should have a good command on being both depressed and excited if you want to do trading successfully.
Actually, it is *click*.

If you're emotional about your trading, you shouldn't be trading.
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