A Few Tools to Help You Get Rid of Emotion in Trading
By: The Blockchain
Tags: Cryptocurrency, Blockchain, Bitcoin, Trading

Transactional emotions, whether they are wanted or not, are always present when the trader confronts the market. This is one of the strongest and most influential factors in a person’s trading results, and of course most are in the wrong direction. So the desire to eliminate as much emotion as possible is the legitimate desire of the trader.

Although I’m not a “fan” of automatic trading and I do not trust the automatic trading at all. However, with the support tools (EAs) that are completely different, you can and should use them to eliminate emotions. Check out some tools below :

1.Placing stoploss — take profits automatically

Stop loss and taking profits is an indispensable tool, obviously so. But having a tool to set these levels automatically every time you enter commands is not everyone knows.

Normally you can set this EA to fixed distances and then edit it later. Using this tool will solve for the trader two main issues include:

Forgeting to place stop loss — latching profit

Provision for unexpected connection lost.

2. Automatic stoploss to breakeven point / Trailing stop

Less common than the first, the next tool will automatically shift your stop loss to breakeven, and can trailing stop automatically. Of course, traders can set the distance for EA to work on depending on the strategy and trading time frame of each individual.

3. Automatically calculate the volume into the command

For guys who trade in a single time frame and very few pairs of money, this tool seems unnecessary, as it usually uses a fixed volume for fast.

However, for those who trade in multiple time frames, on many pairs, this tool is very necessary to support risk management.

For example, if you are trading on both Daily and H4 frames, you can not use the same volume. Because daily fluctuations are 4 times higher than H4, the risk level on the same volume of trading has increased about 4 times.

Or if you trade USDJPY pair with average fluctuation of about 50–60 pips per day while pair EURUSD or EURJPY fluctuate up to 100 pips or more then obviously the distance difference stops to the right volume. different. That is not to mention the value of each pair of different pairs of money may also be different.

4. An “assistant” helps you confirm the change

This is a form of EA that will alert traders when an overvalued risk occurs, such as when the volume is double, EA will ask, “Are you sure you want to change your risk / volume?”

And with just one question, you might think about it again.

Actually I have not seen anyone use this EA number 4, so you find it hard to find or ask the EA players see.

Conclusion

Why do we often see people like Mark Zuckerberg or Steve Jobs wearing just one shirt, or more exactly the same shirt? Simply because they do not want to make too many decisions that are not important enough to focus on the other. So if you can take a step by step with the tool then please take advantage!

Happy trading

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