Learn How to Manage Your Feelings in Trading
Emotions are part of us, and they often show when we make some investments that involve risks. Even as forex traders, our feelings tend to take a toll on us. It is essential to know that emotions always tend to dedicate the market sentiment into making silly decisions or the right ones.
4
Payment methods
Trading platforms
Regulated by
Support
Min.Deposit
Leverage max
Currency Pairs
Classification
Mobile App
Min.Deposit
$100
Spread min.
Variables pips
Leverage max
100
Currency Pairs
40
Trading platforms
Funding Methods
Regulated by
FCA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
0.3
EUR/CHF
0.2
GBP/USD
0.0
GBP/JPY
0.1
GBP/CHF
0.3
USD/JPY
0.0
USD/CHF
0.2
CHF/JPY
0.3
Additional Fee
Continuous rate
Variables
Conversión
Variables pips
Regulation
Yes
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Min.Deposit
$100
Spread min.
- pips
Leverage max
400
Currency Pairs
50
Trading platforms
Funding Methods
Regulated by
CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA
What you can trade
Forex
Indices
Actions
Cryptocurrencies
Raw Materials
Etfs
Average spread
EUR/GBP
1
EUR/USD
0.9
EUR/JPY
1
EUR/CHF
1
GBP/USD
1
GBP/JPY
1
GBP/CHF
1
USD/JPY
1
USD/CHF
1
CHF/JPY
1
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
Yes
CYSEC
Yes
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
Yes
CBFSAI
Yes
BVIFSC
Yes
FSCA
Yes
FSA
Yes
FFAJ
Yes
ADGM
Yes
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Min.Deposit
$10
Spread min.
- pips
Leverage max
10
Currency Pairs
60
Trading platforms
Funding Methods
What you can trade
Forex
Indices
Cryptocurrencies
Average spread
EUR/GBP
1
EUR/USD
1
EUR/JPY
1
EUR/CHF
1
GBP/USD
1
GBP/JPY
1
GBP/CHF
1
USD/JPY
1
USD/CHF
1
CHF/JPY
1
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
Your capital is at risk.
Min.Deposit
$50
Spread min.
- pips
Leverage max
500
Currency Pairs
40
Trading platforms
Funding Methods
What you can trade
Forex
Indices
Actions
Raw Materials
Average spread
EUR/GBP
-
EUR/USD
-
EUR/JPY
-
EUR/CHF
-
GBP/USD
-
GBP/JPY
-
GBP/CHF
-
USD/JPY
-
USD/CHF
-
CHF/JPY
-
Additional Fee
Continuous rate
-
Conversión
- pips
Regulation
No
FCA
No
CYSEC
No
ASIC
No
CFTC
No
NFA
No
BAFIN
No
CMA
No
SCB
No
DFSA
No
CBFSAI
No
BVIFSC
No
FSCA
No
FSA
No
FFAJ
No
ADGM
No
FRSA
71% of retail investor accounts lose money when trading CFDs with this provider.
Anxiety, fear, greed, confidence, and Euphoria are some of the emotions we often display.
Anxiety brings terrible decisions, and you may likely miss out on some vital information. To make the right decisions and avoid stress, you must prevent habits that prompt them.
Fear is one of the most prevalent emotions in forex trading. The fear of losing money makes traders make irrational decisions like adjusting the stop loss to accommodate more losses hoping the trade would finally recover. The result of such an outcome isn’t always pleasing and at the end, making the trader more fearful of making more trades in the forex market.
Most traders in the forex market become gamblers all in the name of making it big – but then, they ignore risk management. They overlook the fact that most times, those who play big tend to lose big.
Greed is not a good trait in business and trading. But then, how can you control yourself when trading in the forex market and prevent these emotions from making you do things that you shouldn’t do to your trade positions? Well, let’s find out!
- Using a forex robot
One of the best ways to trade in the forex market without having your emotions batter you is by the use of a forex market. It is also essential to note that forex robots don’t have emotions/feelings; hence, you can trade actively without making silly decisions.
- Study books based on trading psychology
There are lots of books that help to study your feelings in forex trading. You can get them online or through bookshops. Some of them include The Psychology of Trading by Brett Steenbarger, The Essence of Psychology in Trading, and so on.
- Be positive at all times
It is usual for most traders to experience losses in forex trading sometimes. But no matter what you feel or what your emotions are, make sure you approach them with positivity. Especially when traders feel disappointment, they must be mindful of the way they see themselves.
The same emotions for excitement should not be addressed the same as the feeling of anxiety. In that regard, traders need to face any form of doubt and negativity and move forward; by doing this, you are controlling your emotions while being aware of your mental health.
- Yearn for more
Once forex traders make gains, they usually desire for more in the next phase of trade. The zeal to profit more should always be backed up with diligence and calculated strategy. Make sure you don’t trade more significant volumes if you don’t have the experience to support it.
AvaTrade - Established Broker With Commission-Free Trades
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Awarded Best Global MT4 Forex Broker
- Pay 0% on all CFD instruments
- Thousands of CFD assets to trade
- Leverage facilities available
- Instantly deposit funds with a debit/credit card
Final Words
Even if you are not a trader, it is still essential to manage your feelings at all times, so as not to make bad decisions. Controlling your emotions makes you make good choices. To skillful implement your trades in the forex market, it essential to practice discipline and always rely on calculated strategies before moving forward.