Emotions, a trader's biggest adversary!

Emotions, a trader's biggest adversary! When emotions arise, you can be sure something is out of whack. It isn't easy to live without emotions, and no one should, but at the time of trade execution, they have no place in a trader's life.

The following list of emotions and their "trading cures" illustrates what dominant role emotions play in a trader's failure to succeed:

Feeling uncertain: develop more rules to be more straightforward on your process segments.

Feeling overwhelmed: reduce stress by reducing data density and zooming out to larger time frames.

Feeling anxious: reduce position size until you have accepted the risk of a possible total loss.

Feeling greed: apply the quad exit strategy to get into a more neutral state of mind through partial profit taking

Feeling hopeful: Honor your stops and other risk control implementations and get out of a trade if you find yourself praying.

Feeling scarce: identify a low-risk entry point based on a well-defined ruleset, place the trade and after the trade gets filled, walk away from the screen and let the combination of an OCO order or the help of a trading bot:

Referral Link:

https://t.me/cornix_trading_bot?start=ref-f2fe962395ed4acdb0601bb0ac4a2cc1

in combination with the quad exit strategy, take care of the rest

= "set it and forget it"

It is a well-known fact that most traders make mistakes once they are in a trade-they get scarce and change target to closer points, altering risk/ reward ratios for the worse. They get greedy and set runners too far away. They get out of perfectly fine trades mistrusting them.

In short, they let prices, upticks, and downticks trigger emotions within them and make consequential trading errors.

And why do we not walk away instead? Because we find a close observation equal to control, which is the furthest from the truth.

Secondly, many like to have their emotions woken. Gambling is the emotional thrill of random rewards and losing it all.

We could generate a much longer list here of emotions that, in consequence, bear unwanted trading results to a trader, but in general, the rule of thumb to escape the circle of pain is to identify emotion in trading and create a rule of what to do next time you find yourself in the same emotional dilemma as an antidote for undesired trading execution mistakes.