A successful forex traders masters a great system manages the money prudently and is in emotional control. For many traders, having emotional control is quite hard, or at least easier said than done. Nevertheless, here are some tips that can help you get there. Stick to your plan: Before jumping into a trade, leaving itor changing any parameter, ask yourself: is this consistent with my plan? The old saying of “plan your trade and trade your plan” is always relevant. Are you bending the facts to make your move consistent with your plan? Don’t do that. Are you breaking away from your plan just as a one-off due to significant changes in market conditions? While things can turn extreme at times, breaking away from your plan can lead to a slippery slope. You may feel that you have the right hunch only this time, but these feelings can overtake your strategy. Count to 10: Or 15, or 30. Before making a significant decision, take a deep breath and wait for a few seconds. This will enable you to take the decision in a calmer manner. It may sound like a not-so-serious trick, but the only way to know is to try it out. Rethink: Do you have a hunch for a trade? It may be a great idea, but don’t let your emotions take exclusive control of your decisions. Rethink the trade, going over all the details before acting. It may not change the decision to jump into the trade but may keep your plans in order regarding this trade, helping your rationale remain in control. Log it: We probably all heard the advice to keep a trading journal. But do you really do it? Keeping a journal is very useful in analyzing trades, losing and winning trades alike. Yet it also serves another purpose: arranging your thoughts and laying out the trade plan as you go. It also helps out in separating emotions from logical thinking. Do you counter your emotions in trading? What do you do to keep yourself in check? Further reading: Factors Affecting Psychology of the Trader Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Basics & IndustryForex Basics share Read Next Draghi complains about euro strength – euro ignores and Yohay Elam 6 years A successful forex traders masters a great system manages the money prudently and is in emotional control. For many traders, having emotional control is quite hard, or at least easier said than done. Nevertheless, here are some tips that can help you get there. Stick to your plan: Before jumping into a trade, leaving itor changing any parameter, ask yourself: is this consistent with my plan? The old saying of "plan your trade and trade your plan" is always relevant. Are you bending the facts to make your move consistent with your plan? Don't do that. Are you breaking away… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.