One of the top ways of becoming a better forex trader is by controlling your emotions. This is a secret trick that the top traders don’t want you to know about. Here are the best ways to control your emotions and become a better forex trader:
Defuse Your Feelings
In the heat of the moment, when you encounter a rapid surge of emotion, it is okay to allow that emotion to take control of your actions. When we are overpowered by our feelings, our rational brains become disabled, and we give in to the whole force of our sensations. Regardless of whether the emotions are pleasant or negative, they will always have the potential to significantly hinder our ability to trade profitably.
It is vital to take a step back and view your thoughts and feelings for what they actually are, not simply how they make you feel, in order to gain a grasp on them. This is the only way to get a handle on your ideas and feelings. Diffusion is the term that most people use to describe this process. In this piece, we’re going to take a look at a few different strategies and methods that might assist you in maintaining emotional control when trading.
Track Your Emotions
The first step in transforming your feelings and emotions into useful experiences is to have an awareness of those feelings and emotions as well as an understanding of when you are experiencing them. One straightforward method for accomplishing this is to keep a journal in which you record your emotions as they arise. This can be done in a notebook, on a calendar, or in any other fashion that you want. If you feel the urge, start with something basic and observe your feelings throughout the day.
Examine the piece of the puzzle that is your emotional state at the end of the day more closely to see if there is anything that jumps out at you as particularly significant. If you notice that a certain time of day triggers a certain feeling in you, you should investigate whether or not there is an environmental aspect involved. Are you falling apart after your first cup of coffee in the morning? Does the brightness of the afternoon, or the absence of light, affect how you feel? Take on the role of a detective and piece together the clues.
It is absolutely natural to be unable to make the connection between a sensation and an external stimulus. It’s not always possible to explain why we have certain thoughts. In situations like these, it is essential to avoid falling into such traps. By this, we mean that you should not allow them to gain control of your mind. Your entire day does not have to be dictated by an unexpected flash of uncertainty that comes out of nowhere. Take a step back, look at the situation objectively, get insight from it, and then go on. Do not allow yourself to be enslaved by an experience that you cannot describe.
Distance Your Thoughts
How frequently have you found yourself unable to escape your own thoughts or acting as your own worst enemy? This often takes place when you are entirely absorbed in the thoughts running through your head. When one is in this condition, it is hard to see what is directly in front of their eyes.
Imagine a gloriously bright and cloudless day with the sun shining. When you step outside of your home, the view extends for a considerable distance. You are able to view hills and houses as far as the horizon will allow you to see them. Imagine for a moment that you are looking at the same scene, but it is foggy, and your vision is somewhat obscured. This is analogous to the experience that one has when the cloudiness of their sentiments and emotions prevents them from clearly perceiving what is in front of them.
When your thoughts are uncluttered, and you can put your feelings in perspective, you will have the ability to see further. When your feelings are too strong and distracting, your vision becomes obstructed, and you are unable to see as far as you otherwise could. Because distancing yourself from your thoughts is not a simple task, you shouldn’t be disheartened if it doesn’t happen as quickly as you’d like it to. Practice each and every day and have patience; the end result will be well worth the time and energy you put in.
Practice Being Mindful
Mindfulness training is a terrific skill that may assist you in creating some distance between you and your thoughts. Your brain will learn, through the practice of mindfulness, to become more aware of your thoughts and feelings as they are happening.
Mindfulness training will assist you in developing a buffer zone between your feelings and how you respond to them emotionally. Taking a moment to collect your thoughts and reflect on how you are feeling will help you formulate a thoughtful answer rather than an irrational or hasty one.
Label and Visualize
In addition to practicing mindfulness, labeling one’s thoughts and feelings is another method that may be utilized in the management of these mental states. When you next find yourself going through intense feelings, try taking a moment to relax and simply observe them in your thoughts. Label your ideas as soon as they come to you. When you conceive of anything, try to imagine it and assign it a label at the same time.
If you’re feeling furious, try to picture it and give it a name. Continue doing so for the subsequent sensation and idea, and so on, for a period of around 15 minutes. At first, you might think it’s silly, but by doing so, you’re teaching yourself to suppress your thoughts and feelings. This places them at a greater distance from you, removing their ability to obstruct your view.
Change the Narrative
Instead of relying just on your feelings, this approach has you verbalize what it is that you are experiencing. For instance, rather than expressing “I am sad,” you could say, “I am experiencing the experience of sadness.” This would be appropriate if you were feeling down.
Another way to change the narrative is by completely removing yourself from the picture. Let someone else handle your positions for you. If you subscribe to forex signals, you’ll be provided with high-quality positions that have the best chance of success.
This objective perspective on one’s sentiments and emotions has the potential to put one at a greater remove from those sensations and experiences. This enables you to have a clearer understanding of things and respond in a more logical manner. You may be able to develop new psychological insights by adopting this fresh viewpoint.
Let it All Out
Anyone who has ever participated in a karaoke session should understand this strategy. When you are singing karaoke, the words will be highlighted, and a bouncing ball will hop along the top of the letters, signifying the syllables.
The method of applying this to the management of one’s own sentiments is first writing down those feelings and then reading them aloud while imagining a bouncing ball leaping from one syllable to the next in between each word.