smithanderson
Active member
Emotions have the biggest role to play in trading because they impact our trading decisions. Most of us are aware of greed that lingers us in "hope" so that we can sell the currency pair higher. However, it doesn't always work in our favor, and we may end up risking our investments. Despite the outcome, we should never neglect emotions. Some of the emotions I feel during trading are-
1) Fear:
Everyone experiences fear while trading. We fear losing our money or not trading well. However, in trading, fear hinders our progress.
2) Anger:
It is common to experience anger after a loss.
3) Happiness/ Sadness:
I remember the first trade I won; the feeling was euphoric. And just the opposite in the very next trade.
4) Hope:
We trade because we hope that it will make us a fortune. And some of us keep unrealistic expectations.
5) Greed:
We all desire to make more money, but we forget the risks. As traders, we should develop the mindset on how much money I will lose if I take a wrong step. This is definitely hard to incorporate, but with a right trading goal, it can be avoided.
Would you like to add more to the list?
1) Fear:
Everyone experiences fear while trading. We fear losing our money or not trading well. However, in trading, fear hinders our progress.
2) Anger:
It is common to experience anger after a loss.
3) Happiness/ Sadness:
I remember the first trade I won; the feeling was euphoric. And just the opposite in the very next trade.
4) Hope:
We trade because we hope that it will make us a fortune. And some of us keep unrealistic expectations.
5) Greed:
We all desire to make more money, but we forget the risks. As traders, we should develop the mindset on how much money I will lose if I take a wrong step. This is definitely hard to incorporate, but with a right trading goal, it can be avoided.
Would you like to add more to the list?
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