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| | Post New Topic | | Managing your emotion during the live trade execution | Views: 316 | | Sep 20, 2017 2:53 pm | | Managing your emotion during the live trade execution | # | 
Sandy Smith | | There are many professions out there in the world but when it comes to Forex trading everything is a little bit different. If you consider trading as your normal profession then are doing a great mistake. In fact, trading is one of the most difficult business in this global market. You need to be extremely careful in every single trade that you execute in the market. A simple mistake can cause you a huge amount of money. It’s true that you will be your own boss and there will be no one who will ask about your performance. You need to stay extremely disciplined throughout your trading career. A simple mistake can cause you big loss and make your financial condition much worse. For this very reason, the expert traders in the United Kingdom always suggest the new traders learn the art of trading in a demo account. Demo trading is almost similar to your real trading environment only with one exception. In demo trading you won’t have to lose any real money. Now we will give you some useful advice which will help you to control your emotion during live trade execution.
Find the best trading signal
Before you learn to control your emotion, you need to develop a solid trading system based on your own personality. Some of you might say that this market can be traded with other people trading system but we will say this will not work for you. You need to work hard and learn all the details of this market to execute the best possible trades in favor of the long term trend. But before you jump into the online trading world we would like to inform you that almost 95% of the traders are losing money in this industry. Most of them are losing money due to their lack of trading knowledge and discipline. So these are the first two things that you need to develop as a currency trader. Once you have gained enough knowledge about this industry it’s time for you to develop a robust trading system so that you can easily place quality trades in favor of the market trend.
Trade what you see
Trading should be rational in every possible way. There is no way that you will become a successful trader by using your emotion. You need to wait for the high-quality trading signals in your online trading platform to trade the market. But before you place your trade make sure that you have done the proper lot size calculation to limit your risk exposure in trading. Many traders often execute big lot size trade to make a huge profit in a single trade but in the long run, this is one key reason to become frustrated during trade management. If you are interested in full-time trading then you need to learn about the three major types of market analysis. Being a new trader in this industry you should never trade the lower time frame since it will lead you to poor trade execution. And without focusing on the high-quality trading signals it’s very natural to lose control over your emotion. When you place your trade, make sure that you have a predefined stop loss and take profit level for that trade execution. Never think that this market will give you a huge amount of money from a single trade. You need to start slow and over the period of time, your experience will help you to make a huge amount of money.
Managing your open trade is very complex unless you don’t have the proper knowledge of this industry. As a trader, you need to develop a strong reading habit so that you can easily place your trade in favor of the latest fundamental news releases. Never trade the market based on technical analysis only since fundamental factors are often considered to be most powerful price driving catalyst.
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