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

kwasik

Newbie
7 1
You can't afford tom be emotional when trading. you have to have a trading plan when trading. And as part of that plan you decide how much money you can afford to part with. Such in case the trade goes bad you dont shed too many tears over the lost cash. Consider that as a mistake never to be repeated again.
 

J_C_Anderson

Active member
125 21
For sure, trading plan is extremely important part of trading process. Each trader should have a detailed trading plan created before entering the position. A properly developed trading plan would guide a trader through all the stages of trading process from choosing the setup and entering the position to working with position and closing it with stop loss or take profit. To my mind, most of the newbie traders fail just due to the lack of planning. Even discretional traders should have trading plan since it helps them to avoid making decisions while being in the position - such decisions could be influenced by bias caused by current position (trader would unintetionally search for the confirmation of his initial assumption to feel comfortable about his position).

That is why trading with a plan is the first way to reduce the impact of emotions. If the trader acts strictly in accordance with his plan, his emotions would not influence substantially the trading process in general and the results in particular. At the same time, trader should be disciplined enough to be able to follow the rules otherwise he would mmore likely to violate the rules and make emotional trades (which are mostly losing ones). So the trader interested in improvement of his trading performance should focus on discipline.
 

Pat494

Legendary member
13,675 1,363
Big mistake imho of becoming emotionless.
Liable to turn into a zombie and ruin your social/family life. They hate and fear zombies.
Moderation as always better for one.
 

cantagril

Senior member
2,308 531
Big mistake imho of becoming emotionless.
Liable to turn into a zombie and ruin your social/family life. They hate and fear zombies.
Moderation as always better for one.
Don't agree at all.

Whilst I admit that people do tend to frown upon the undead grazing on one's family, damping down one's emotions doesn't equate to becoming a zombie or psychopath. A great number of highly skilled people rely on emotional disengagement whilst doing their thing (racing drivers, chess players, tennis players, brain surgeons etc etc) and aren't driven to munch on their progeny. ...and can even interact on a social level too.

In answer to the thread question, it's a resounding "yes" - it is possible but "practical" is something else again. If one sets the goal of "feeling no emotion", how does one go about it? In the case of the above-mentioned professions/activities repetition would seem be a common factor though I'm aware that their coaches often use mental techniques (hypnosis, NLP etc etc) to encourage relaxation, self-discipline and self-belief which in themselves would lead to diminished emotional interference.
 

Pat494

Legendary member
13,675 1,363
Mass murderers like Rose and Fred West seem able to squash their better emotions.
. The WW2 criminals at Nuremberg all pleaded not guilty and seemed to believe their own lies.
 
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NVP

Legendary member
36,599 1,858
A lot of traders i know are able to kind of de-personalise trading (hey its just business)....Ive tried this working with coaches and therapists as well.....but i never 100% get rid of my feelings on losing.....just me ...I have many trading friends who handle losses better than me ......so good luck to them

the only generic way to reduce the emotional effects on trading is to reduce your £££ in trades .........sure you can have a multiyear sucessful track record and convince yourself that over time your edge will allow you to make money ......but its only human to feel irritation when you lose a trade ...........so just try to make it irritation (low loss) instead of blind panic / fear / anger (big loss)

over the last 20 years I have placed thousands and thousands of trades .....and it still irritates me when i lose a trade :sneaky:

we are all human so dont fight it
N
 
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TWI

Senior member
2,527 252
Been at this for years and by now have confidence that I can make my living consistently. Been through every possible trade related emotion along the way and today I have no doubt I am effected by large PnL swings but my family would not know today whether I had a winning or losing day. My portfolio is based entirely around max drawdown so I am aware of the 99.9% how bad it could get and set that level at a point where I can emotionally cope. I think that level is personal for every trader but when you know it, by living through it, you will be better for it in the future. Most important to know YOUR max downside and know your outs.
 

Silverston

Junior member
30 5
Trading with a clear plan of action for whatever could happen will reduce your emotions.

Also the capitalisation points mentioned already are vital.

Don't trade impulsively.

Reduce attachment to individual trades.

Be decisive.

I've always thought having a bit of a depressive personality helps too as you don't get as carried away with the wins and you kind of expect the losses so they're not a surprise. I think Jesse Livermore must've been a bit of a depressive.

Also not thinking of what the monetary value of what is at stake, there is a good quote in Reminiscences where JL wonders about the amount lost on Wall Street with bets taken to get enough to buy fur coats.
 

Peter5510

Newbie
6 3
The fur coat was making everyone to lose money. This is very similar to Jack Schwager's Market Wizards - Zen and the Art of Trading.
 

Vellfx

Junior member
13 1
we are humans, we are designed to feel emotions. no way in the world, a trader feels nothing while winning or losing a trade.
 

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