How emotions push you to false trading. How it can be controlled?
To get to grip with emotion is the hardest thing for a person new to trading. Also for a person who think himself to be a mentally strong person. When he started trading all these will change. So first learn how to control your emotions and try to keep them outside. Fear and greed are the two common emotions among the traders. All traders know that some days are not their days. And some other days market is not responding with traders need. And they face loss in those days. And if a trader stays too much in that single down day it will dip him in depression. Instead of reading too much about that day realizes that you are going in a wrong direction and adapt some other techniques. If you find a little bit of depreciation after your day trading. Forget it and if you can’t do that watch a comedy movie or listen some good songs it may get your mind out off the market. And just relax!
A trader should act fast. Other thing is that they have to make big decisions within a very short amount of time. And there comes an emotion doubt. All which is new to trade cannot avoid this emotion. Market movement is very fast and we don’t have enough time to wait there. If you have many doubts and long time passed don’t do a trade. To avoid this study how can you make quick decisions by structured analysis. If your mind doesn’t think properly go and take a small cup of tea and get away some minutes.
Now how you can control your emotions? It is also in your hand. Do some hard work before trading means find some time to learn about trading. Find good books and watch some good tutorials and if you get a chance to communicate with some trading professionals don’t miss that chance. There are so many people who build up their life through trading. So try to read the articles written by them. This way you can motivate yourself. A market research is also helps you to control your emotions. Try to perform a deep research to familiarize market. Take this as a hobby. Search every day for the changes that happen in the market. The real thing that influence the movement of the market. Next, play with paper and pen before play with real money. That is do paper trade until u reaches a level. Test out new strategy new indicators and new ideas. Build your own trading/business strategy and revise it monthly. Modify it after each revise. You can improve yourself by regular practice. Try to make a list of carts. Find out the reasons for their bullish or bearish move. Do season trade. After making this type of list you can completely remove your emotions and you can trade safely. After reaching this point, when you think back you can realize that there is nothing to be worried. Yes, great things take time.
Also you can follow the following
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