Emotions act as the main regulators of mental life and arise in the process of almost any human activity. However, they are only part of a wide range of mental phenomena. In addition to emotions, there are also affects, feelings, moods.
BELOW ARE THE POINTS TO MANAGE EMOTION :-
Focus on one skill.
To achieve results in trading, you need to stop darting from strategy to strategy, not sort out randomly different techniques, but concentrate on one and work out a skill so that it bounces off your teeth. Most novice traders make the same mistake – not only do they search for an easy way to earn income for months and years, but in addition, they consider it a mistake for every lost transaction and every money lost on it. And this is fundamentally wrong. This is what those who are totally unsure of themselves, skills, and the method used do.
Concerns beginners. Experienced and experienced because they can endure and wait. They believe that a stable monthly income does not depend on the frequency of transactions. Good money is considered 6% per annum. An excellent indicator of 12% when it comes to creating a pension fund. Then why are traders looking for an opportunity to get 100% per week and are unhappy with 5% per month, which will form a worthy income for the year? In the financial markets, there is no guarantee of a steady increase in monthly income. No one promises that income will only go up. As in any other business, there will be recessions. And even experienced market fighters do not have protection against failures. Remember one thing – let the income grow slowly but surely than quickly, but with regular big losses. To stay afloat for years and gradually increase profits, you need smooth movements.
Don’t be greedy
Beginners often sin by sitting on small time frames and opening 10-20 transactions per day. It’s too much. And all because the business is new for them, the first deals were good, the excitement turned on, and this is understandable. They are now ready to sit behind the monitor for days. But the opposite must be done – calm down, stop at 4 hourly charts, or at least daily. To understand the picture on the market, this is enough. The truth is that for the sake of a good monthly profit you do not need to engage in trading every day.
Remove emotions and write a script
In some ways, a professional trader is like a sniper – he is ready to wait for suitable conditions for the transaction for at least a whole week, view, but not enter the market. And as soon as he finds one that matches the parameters prescribed in the algorithm, he presses the button like a sniper on the trigger – absolutely without emotion. He understands the psychology of working with fears in trading and is mentally prepared for a possible loss of the amount allocated for this particular transaction. And all because it has a predefined script for moving instruments and an algorithm of its own actions. Do not trade until you follow the conditions of the algorithm. For a good income, just a few smart deals are enough. Only obsessed can look at the charts for a day, and this quality only harms the results and even delays until the trader calms down, goes back to normal and lowers expectations too….