spiffypips
Education

Checking Your Emotions Before Trading

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Hello Traders,

This week as been a pretty rough week for a lot of you, for a lot of traders in the FX market in general.

None the less, we still need to have control over our emotions every time we sit down to trade.

The question becomes how do we do this and get in the habit of doing? How do we make it part of our trading routine?

Well you can do what I did when I first started, and that is posting a sign on your computer screen that asks a simple but powerful question such as.....

"Are you in the correct mindset to trade?" or "Are you able to control your emotions while trading today?"

We all have lives outside of trading and even our personal lives effect our emotions and if we don't check our emotions before trading what ends up happening is we allow our emotions that were caused by situations outside of the market to control and effect our decisions and trades we take in the market.

We are only human, there are days I'm having an off day, and I'm not able to always control my emotions so what do I do about it? Well I just don't trade that day. It's that simple.

Anyways I hope this helps, I hope you all understand that the week you just had isn't all your fault however your allowing your emotions caused by the market conditions to control your emotions and now your allowing your emotions to place blame on yourself because of the week you had. Trust me when I say "IT ISN'T ALL YOUR FAULT!!!"

Take the weekend, get your mindset right, put this week behind you and lets get after it again next week.

Keep up the great work! Your going to continue to do great things!

Make It A Great Day, Make Next Week A Profitable Week, & Happy Trading!

~ SpiffyPips ~
Really good perspective on emotions. You need your emotions in check before you trade and I love how you talk through your day with transparency.
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spiffypips TradeIndicators
@TradeIndicators, Thank you! Trading with emotions really will break a trader. Its not something we can eliminate completely as we are only human however we can manage them and keep them in check with trading and allow our indicators to do the work for us!
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Excellent advice SpiffyPips! I respect and appreciate a straight shooter. I can handle the Truth! I don't like dealing with people that I have to guess what it is they are really trying to say. Give it to me straight. Have a great weekend. Thanks for taking time to do these VLOGS for us.
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TradeIndicators meetgregryan
@meetgregryan, Agreed, #shootmestraight :)
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spiffypips meetgregryan
@meetgregryan, I'm glad you appreciate my approach and my content! I have to do enough reading between the lines when in comes to a lot of people in my life. Heck, i had a mentor for awhile that would say the phrases that always made me read between the lines and guess what his point was. Don't get me wrong that approach can be a good thing as it forces me to think on my own, however it also left me to misinterpret the information he was trying to pass down to me. Im the type of person just tell me like it is, tell me if I screwed up and tell me in a blunt and honest fashion. I personally learn the best with that approach as it really drives home my mistakes and forces me to learn from my mistakes and avoid them later. Thank you so much for your support!
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@spiffypips, I love how you can handle truth and want people to call you out, I'm the same way. I like it when people use grace too when they are doing it lol

It's clear that you know what you're talking about and have the history to back it up. So awesome man!
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spiffypips TradeIndicators
@TradeIndicators, yeah don't use grace around me, I'm not some fragile piece of china that if spoken to the wrong way is going to cause me to break or crack. Lol just give it to me like it is.

To me I view it as a form of disrespect if you feel you need to walk on egg shells around me.... not cool. Lol
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