The emotions are not a friend when you trade
The best example is when you hit a good trade and earn really good amount of money. This is not a regular salary or promotion so you need to calm down your emotions and concentrate on the continuance of your success.
How to control yourself?
Taking a deep look at the market will show you that there are thousands of books and techniques developed by some experts, brokers, traders and even professors.
We think that the moments of happiness and disappointment are very dangerous when you trade. If you think like a machine it will be easier for you to keep calm and cool.
Take it easy – what does it mean? Be practical! Enjoy your wins at the end of the week or the month, when you make a full calculation. How much I have traded, what is the profit, what is the income in percent, how can I optimize it, where is my strong side, these are questions that you should ask yourself.
If you trade successfully every month for 6 months, we think that you have created a good strategy and financial habits. This is the moment when you become money making machine, just sitting on your chair. Everybody wants to achieve that but it's not so easy, especially for beginners.
The critical point of view is also helpful in such moments – you can always earn more than now, so there is nothing serious in a happy moment when you achieve a small success. Money comes, money goes.
One very good advice is to think without emotion if you are in need of money. There are people who think that will make 1-3 trades and that will be able to resolve all of their financial difficulties. Please do yourself a favor and avoid this illusion! If you have loans, debts and unpaid bills, think how to earn money without any investments and risks.
Many brokers have education that includes psychological understanding of trading. We recommend you using these priceless methods and continue to improve them on a daily basis. Try to focus on your personal needs.
Do you have emotions that are dangerous for your trades? Join the forum and let’s talk about them.