Goodday everyone,am still going to talk about finance,how we actually destroy our emotion when trading
Winning a trade is all about mindset ,we need to concur ourselves before we open a trade ,you can't be negative person and expect you are going to produce positive results, ,we are the real player in the market,the market is set in a Way we play the games with our self,many lost trade cause by inability to fight emotion in a right way
Believe me when I say ,you may be hundred in a group and you were given signal to buy a particular pairs of trade,you may actually be the one that lost in that particular trade because of your emotion
I have been in that particular position, where a signal gives 1000 pips , everyone win but am the only one that lost in that particular trades, because the trade hit my stop loss before taking off,all because my emotion have already been destroy ,this is continuation of my previous two topic ,if you miss it you can check it1 here
2.here
Give the market time
Leave the market and let it decide, stop checking all the time ,this are what destroy our emotion when trading,when you keep on checking a trade you already place , you increase your emotion in a negative way , first you check and your money is increasing when you check back you see the money is now reducing, what will you be thinking,
things won't go right in your body ,the best way to help yourself ,is to place a trade with stop loss and take profit and close your laptop or phone but remember make sure you set stop Plus on the money you can lose , what I means is that,you can't have a balance of 100 dollar and set a stop loss of 40dollar ,
no matter the strongest you are when trading this will affect your emotion if the trade hit your stop loss ,you can't be right in every trade, you should put that in the back of your mind ,I write about money management in my previous article,how it affects our emotion you check that
Assumption
Stop assuming when trading , assumption is the mother fucker of worst trade ,the worst mistake you will do when trading is to assume that ,this is what the market will do when you did not see any signal,this affect your trading psychology,
I remember in candle stick bible textbook,the author said you follow what the market is doing ,as a trader trend is your friend, don't assume market should do this and that,you will always end up making loss in the market
choose a pair
As a trader you are human,you are not a robot ,you can't know everything when trading ,the best is to choose a pair or some pairs when trading,you shouldn't trade all pairs ,the truth is they are ways in which pairs move ,pairs move in different ways when I said pairs I means eth/btc,or ltc/btc or USD/jpy and many more
,it shouldn't be more than 5 pairs,I have seen many trader who trade only one pairs ,at most two ,the most successful trader don't do much in the market,you don't need to stress yourself when trading,the market is simple when you make it simple, remember I said the market is set in a Way we trade with ourselves,make it simple for yourself
I hope this article help you in when trading the financial market , you can support my ministry by upvoting ,rehive and I will also appreciate your comment,
am @ajanaku I love writing about financial market trading,you can follow me and I will also follow back let be friends and increase engagement on hive
God bless you , God bless me and God bless hive community
Hi ajanaku,
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Thanks
Patience is definitely a virtue one must possess when trading. Thanks for sharing
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Yes, very well, assumptions can upturn good financial ideas. You do not base your decision on assumptions rather than rigid and unique facts. And also it is just like emotions and finances do.not go well with eacg other!!
@ajanaku good ideas up you've got here.