Keep Your Heart in Existing Position when trading forex.
Why watch out? Because that’s where the realm of emotion. That’s according to us who are layman about the science of psychology, so if not correct please be corrected.
Calm emotions are very useful in every aspect of our lives, right? Controlled emotions will make us clear when thinking to anticipate situations that may occur out of control.
Wakeful emotions will also keep our productivity. Certainly, it is also useful for a trader like you.
Productivity can be very helpful when starting trading. When you are saturated and start emotional then you have a great opportunity to make trades in a haphazard manner.
If you take seriously that trading is a business, read news, analyze the market and so then you are more likely to get amazing trading results with satisfactory risk / reward ratios.
Here are 5 practical tips to help you learn to be productive and to control your emotions before and during trading:
1. Learn something new about trading. One of the classic problems for the majority of humans is to always delay action. Maybe you ever want to learn more about candlestick formation, RSI and MACD.
Well, do not delay anymore. Begin your study, yet there are so many sources of information about fundamental and technical analysis of the market that you can easily get.
Take a glass of coffee, put on relaxing music and start reading also learn what you want to know so that later your analytical and trading skills more qualified.
2. Do a deep market research, strategize the trading. Often you are curious about something happening in the market right now, right? If the tips (1) above you have done then start studying and researching the situation in the market.
Next make a note and arrange your trading strategy from the lessons you have learned.
3. Simulate your new strategy. Have you set up a strategy and plan? Now it’s time to test it all at once train yourself.
Patient patient and patient. You must continue to be patient in order to remain consistent in implementing your strategy in trading simulation until your strategy is more perfect and reliable when entering real trading field.
4. Write a Trading Plan. Okay, now the tension is getting higher because after the simulation you have to enter The Real-Trading World, so keep in mind: “Take care of the heart!”. Stabilize emotions.
Therefore, to help control emotions and thoughts, write clearly the Trading Plan. With a written plan, you will reduce the risk of making a mistake.
5. Implement your plan with discipline. Well, this one seems to be the hardest thing. But what can be said, the discipline does determine everything, including the success or failure of your trading.
But before, try to get relax! It’s up to you how to relax, maybe pray or meditate. Next apply the Trading Plan with discipline and do not forget to make a record (journal) for your evaluation at a later date.
Hopefully the short tips above can help you to succeed in your trading adventure. Train yourself gradually and consistently, be assured you will succeed in this business. Happy Trading!