emotion vs. prediction
- Thread starter pennycapitalist
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Arashimuro
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Predictions won't lead you to anything good. Forex is a very fickle market and you need a very accurate and precise analysis, and not some predictions.
Right. Anyone can predict which is why majority are in loss.
First, let's look at market prediction. Many market experts make predictions and some predictions were right and most were wrong. Wrong predictions were easily forgotten. I would incline to believe that the market is very hard to predict but IF observe long enough one can have a general feel for the market.
Second, what is emotion? What's in the mind of a driver first time on the road? He or she has to be constantly look out for other vehicles, traffic light, zebra crossing etc. YES, the first time driver is very tense at this stage. Overtime, the traffic rules sink in and everything is at ease. Of course, we cannot compare trading to driving. Trading is lot more difficult than driving in the third world countries where rules are bent.
In trading, it's all about the survival of our trading account. As long as we are in the market, we can learn from it and establish our own "flexible" rules. Why "flexible"? Market condition is not constant. As long as we are in the market, we can practise our trade and apply/test our rules. As long as we are in the market, we need capital. Once the money runs out, it's game over.
Don't plunge in where the angels fear to tread.
A bird in the hand is worth two in the bush.
Second, what is emotion? What's in the mind of a driver first time on the road? He or she has to be constantly look out for other vehicles, traffic light, zebra crossing etc. YES, the first time driver is very tense at this stage. Overtime, the traffic rules sink in and everything is at ease. Of course, we cannot compare trading to driving. Trading is lot more difficult than driving in the third world countries where rules are bent.
In trading, it's all about the survival of our trading account. As long as we are in the market, we can learn from it and establish our own "flexible" rules. Why "flexible"? Market condition is not constant. As long as we are in the market, we can practise our trade and apply/test our rules. As long as we are in the market, we need capital. Once the money runs out, it's game over.
Don't plunge in where the angels fear to tread.
A bird in the hand is worth two in the bush. 
HeavLeighGill
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This is really interesting! Love when psychological research can be applied to traders. All of these facts can tell us a lot and help with self improvement.
Most of the time, the prediction never lands unless you have taken a good amount of knowledge in understanding both technical and fundamental analysis.
And coming to emotion, they are quite to control so it is best that you get to catch the emotion before they get the best of you in your trading.
And coming to emotion, they are quite to control so it is best that you get to catch the emotion before they get the best of you in your trading.
