The management of our emotions is super important when we trade! Why? Because a simple decision can make us make profits or lose them! In the following article, we will see how the management of emotions works!
Boredom, one of the most important emotions you should handle!
It is super important that you find ways to do things while nothing happens in the market. This is because there are days when the market is flat, and there is little to do.
One of the ways to be able to distract yourself is maybe reading a book or getting more education! You can place alarms on the graphs in case there is any movement, it will notify you immediately. It’s good to distract yourself!
Is pride one of the good emotions?
The greatest arrogance comes after the greatest benefits! Yeah, because in this way you will believe that you know everything. But you do not. There’s always something new to learn!
Perhaps you will skip methods that serve you to generate profits or even want to allow half of the money you earned yesterday. And maybe you do not want to cut operations because you feel that you are right all the time. Remember, you need to lose that pride and be ready to accept you loses and learn something new.
What about fear?
The fear that you may have when trading can cause that you leave an operation early. Or quite the opposite. Sometimes you do not leave as much as it should be or in the worst case you do not enter a good opportunity!
A clear example could be that you have an operation with a possible profit of 100 dollars. But have earned 60 dollars and because of fear you get out of it. What happens? You are throwing away all your stats! You could have won 100 dollars, but because of the fear you decided to leave early. Of course, you will need to think first so you can take the best decision.
Avarice is not a good emotion!
Trades are designed to get out at one point if you’re right and get out at points if you’re not. You cannot demand more from the market. The days in which the market gives money, it gives money, and period! You cannot do anything else.
You need to enter your operations and leave the avarice outside! For example, many people enter operations without knowing when they should exit. You must be open to knowledge and once you learn, good results are granted!
As you could realize there are many emotions that can affect us when we are operating. And if we do not control them, we can have many losses! So, be patient and learn how to control them, you’ll have good results! We hope that this information has helped you, and do not forget to share the article with your friends! We’ll leave you an old video at the end of this article. That is always useful, so you can know how to control your emotions. Plus, don’t forget to subscribe to our YouTube channel to know more about trading!