Trading without emotions? How to deal with psychology | Traders Improved (#68)
Traders often ask me how they can trade without emotions and trade like a robot. I always tell them that it's not necessary to avoid emotions and it's also not possible. We are human after all and emotions are what separates us from other life forms. Emotions are powerful and important drivers. We just need to use our emotions in a better way. You need to stop being reactive, avoid impulsiveness and stop trading when you are too emotionally charged. Why we can't manage our emotions effectively is because we are not fully aware of them. In today's world with social media, 24/7 phone access, and constant distractions, we have lost the connection to ourselves. We do not recognize when emotions come up. And, therefore, we act based on our emotions without knowing it. We need to get to a place where we are aware of our emotions when they come up and before they take over. In this episode, I provide practical tips how this can be done and how funneling our emotions can actually help us trade better.