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Always avoid emotional trade in Forex

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1 Always avoid emotional trade in Forex on Wed Sep 20, 2017 7:39 pm

Traders in Forex like to trade the market with all of their heart. It is not wrong when you are trying heart and should to get the Forex market fall into your feet. But when you try too hard and do not eat for days and get emotionally involved in Forex, things may not turn so well for you. For most of our traders, when they involve their emotions in Forex, the result is always a loss in their trading. In this article, we are going to tell you why you should not involve your emotions in Forex. It may be hard for you at first, but as you gain maturity in your trading and spend more time, it will become easy for you to make more rational trades than emotional.

It makes you distracted
The reason that traders should not get emotionally involved in their trading is it makes them distracted. It is not only said by professional traders but also supported by medical science. When we get excited and become happy, science has proven that our brain releases a hormone which makes us see things which actually do not exist in our real lives. The brain is not in a state to differentiate what is real and what is fantasy and we get distracted. This is how many traders lost their trade after winning a trade. They swear they just have seen the same signal in the market, the signal that they had seen in the past trades. They do not understand it is their brain which tricked their minds into believing the false signals.

How to overcome your emotions in trading
It is hard for you to overcome your emotions from your trading. You are a human being and you will feel always connected with Forex more or less. There are many ways that can help you to overcome your emotional trading in Forex. One of the most proven way and also the easiest way is by changing your mindset. Do not take Forex as your life. Take this as a market where traders can win or loss. If you can change your mindset, it will be a lot easier for you to accept your losses. As long as you trade the market you will always have to embrace the losing trades in your online trading account. If you follow money management strictly than losing trades should not be a problem for you.

Another way to overcome emotion is by accepting your loss as a part of your strategy. No trader wins all the time and you will always lose in the market. If you can take this into your mind, you will be more focused on your strategy than on your emotions.

Sometimes the novice traders over trades the market. But overtrading is one of the key reason for losing a huge amount of money. All the professional traders at Saxo are well aware of this fact and they always suggest the novice traders execute quality trades in favor of the trend. Trend trading is always very profitable but you need to learn how to do it properly. Many traders often say that they are trading along with the trend but still not making money. If this is the case for you then you might have other problems. Demo trade the market and assess your trading history to find your faults.

Strict discipline
There is no other alternative of discipline in the Forex market. Most retail traders are losing money due to their lack of trading discipline. In the financial market, a single mistake can cause you a huge amount of money. So when you place your trade make sure that you have calculated all the risk factors to save your trading capital. Trade the market with a strategic plan and you won’t have to deal with big losses.

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