I observed most of the traders trade emotionally.They don’t see the logic behind that particular trade.Many times traders think that more trading means earning more money ,therefore they become crazy for finding trade set ups daily.
Even if there is no trade set up according to there strategy still they become just crazy or panic finding the trade since they have to trade anyway whatever the result might be.
Such type of traders are very emotional traders and they are over confident if the trade goes in there direction.If they win the trade they immediately execute another trade because they expect unrealistic results.
If there stop loss is triggered then this traders get panic and they take revenge.They feel that why I lose this trade and they just place another trade after trade to take revenge and at the end spoil there hard earned trading fund.
So this are the highly emotional traders and this type of traders always trade the market emotionally and they trade what they think about the market. They don’t understand the logic behind the market.
They just ignore to see what the market is doing. We should always trade logically not emotionally.
Stop guessing and imaginations
Don’t guess the market what it will do today or tomorrow without any logic.This type of imagination or guessing is just similar to gambling.
Most of the traders Say that the market will work according to my guessing so they risk there all fund in single trade and they loose there money and start blaming the markets and the system.
Trade only when there is clear trade set up according to your trading strategy.There should be some logic that why you are going to trade.
Just find the refined high probability trade set up as per your strategy and go with that trade since you clearly know the reason behind that trade.
Don’t Stick to any Particular Trade
Some Traders are so aggressive about there trade.Once there trade gets executed this traders get more panic to achieve there targets.They watch the market deliberately to get there targets.
If that trade is intraday and the trade is going for about more than eight to nine hours, still they are continuously watching the markets and get continuously panic for there target. In such cases if the trade is intraday and if the trade is taking more than the expected time then we should be able to take decision according to the market conditions.
Therefore don’t stick to any trade or don’t get attached with any trade.Since market is uncertain even if the trade set up looks good , but due to uncertainty of market whatever can happen.
So we should take decision quickly in the intraday trade.You should learn to trade emotionally detached with the trades.
Learn to control yourself and your thoughts about the market
Once you learn the style of what you see in the market on price charts and not what you think about the market then you are on the proper successful path as a successful trader.
The key point is that you should always trade what you see in the market not what you think. Successful traders who makes money in the market are those who trades logically and what they see in the price charts and not what they think what might happen in the market.
Get Confirm yourself by asking few questions before you trade
Before trading your each trade take a moment to ask yourself few questions
what I am doing ?
How is my trade set up ? Does it satisfy my criteria according to my Trading Strategy ?
Whether I am trading the market or If the market is trading me ?
Whether I am trading Logically or Emotionally ?
whether I am controlling myself or the market is controlling me ?
If there is really a genuine trade set up or what ?
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Happy Trading