This is one of the weaknesses of manual trading, wanting to get more profits and not caring about higher risks. If we can be disciplined, actually sticking to the trading plan can minimize risk. Say today I will only open one order, well if the order is completed, whatever the result is profit or loss, if disciplined we will wait for the next trading day. But sometimes we can't stop ourselves and want recovery sooner.
This is one of the weaknesses of manual trading, wanting to get more profits and not caring about higher risks. If we can be disciplined, actually sticking to the trading plan can minimize risk. Say today I will only open one order, well if the order is completed, whatever the result is profit or loss, if disciplined we will wait for the next trading day. But sometimes we can't stop ourselves and want recovery sooner.
Perhaps the most difficult part in forex trading is controlling emotions, even though an experienced trader when fails to control emotions, most trades end in losses. Emotions are often the basis for traders to overtrade, be greedy, and be overconfident.
Perhaps the most difficult part in forex trading is controlling emotions, even though an experienced trader when fails to control emotions, most trades end in losses. Emotions are often the basis for traders to overtrade, be greedy, and be overconfident.
The most common emotions experienced by traders include fear, nervousness, conviction, excitement, greed and self-confidence. And to avoid these emotions, an individual approach is needed for each trader. But there are also a number of universal ways to reduce the impact of negative emotions: systematic trading, a trading plan, reducing risks in trading, observing money management, avoiding overtrading.
The most common emotions experienced by traders include fear, nervousness, conviction, excitement, greed and self-confidence. And to avoid these emotions, an individual approach is needed for each trader. But there are also a number of universal ways to reduce the impact of negative emotions: systematic trading, a trading plan, reducing risks in trading, observing money management, avoiding overtrading.
Overtrading can be a silent portfolio killer. It’s tempting to jump in and out of positions frequently, but it often leads to higher transaction costs, emotional decisions, and missed opportunities.
Of course I'm talking about robots, when you create EA it greatly reduced likelihood of the human error and also add speed to the decision-making process in trading.
Of course I'm talking about robots, when you create EA it greatly reduced likelihood of the human error and also add speed to the decision-making process in trading.
Absolutely! Using EAs in trading minimizes human error and significantly enhances the speed of decision-making, leading to more efficient trading strategies.