FX:EURUSD   Euro / U.S. Dollar
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Hi All, I wanted to share this chart with you and show you the importance of controlling your emotions during trading. Psychology is a very important aspect in trading.

Why emotions drive the market, its not the news events the banks the props firms or the fundamentals but the actions from every participant in the market that drives it. It is how we interpret the news or the charts if its green then buyers come on if its red then they sell and so on. We use our technical analysis to provide us with reason for entry. Like Greece for example EUR went down because everyone that heard about Greece assumed its going to affect the EUR so that's why we had Bears, hence drop in EUR which is driven by emotions of traders interpreting the news.

If you can learn to keep your emotions under control and don't let them control you while trading you will see a massive increase in your trading.

Belief Action Results - I have learned this in trading that you need to have belief in your system/strategy when you have belief you need to take massive action and from this you will have massive results. Belief will come from your back testing and forward testing.

Fear Greed - you can overcome this fear and greed from having a strategy that you have tested once the strategy is tested verified and can be repeated and has a positive expectancy, then this also helps with your emotions. How many times have you missed profits from closing out too early, or entering your trade too early and losing more than you should, I wont talk about moving stops because that is a big no, but just the simple things like entering too early because you feel you will miss out on the trade.

If you keep on repeating these bad habits then eventually what you had as a proven winning strategy will result in a losing one, you can have the best strategy in the world and in the wrong hands will be a losing one.

It is very important you stick to your rules and don't chase the trades. Remember the market is a device for transferring money from the impatient to the patient.

You don't need to think when entering a trade, from your technical analysis from what you see in the charts. You know before entering your entry level, stops and targets.

Another thing also you don't need to spend 12 hours a day looking at your charts and trading, you will go crazy. Just relax set yourself a daily routine. Most important is to have your trade plan and read it everyday before trading.

If you are having a bad day just don't trade. I have done it and the next day was an absolute great trading day. I came into the markets and just felt like I shouldn't trade so I didn't place a trade and felt good to walk away

I wanted to also share personal experience, when I first started trading I won my first trade, I didn't know what bulls and bears were, all I seen on the screen was price going up and down. Hey this could be easy I just won and it was a lot of money in only 5 minutes, I was just placing orders with a very high position size 200k no stops no targets winning and losing.

I have never blown an account, I was placing 100 trades per week and when I finally seen my broker commission and other fees, yes well did I get a surprise. Hey I need to look more into this trading instead of trading blind. I done my research because the most important is to protect capital, DON'T GO BROKE, if I am broke then I cant trade. And knowledge is key

I quickly researched everything possible that I felt I needed to become a successful trader, 3 months later I finally started to trade live again. I went from 100 trades per week to an average of 8 trades per week - I have increased my return dramatically. And from this I have seen the massive change in emotions while trading.

I hope this helps in anyway - Maybe you can share you journey below in this thread and lets see if we can get some good stories and share with other traders. Good Luck to you all be well and be safe
Any traders that would like to share this chart and share a small story about their trading journey would be great. Thanks Traders
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