I agree with you guys and think that emotions shouldn't take precedance over cool head. Also you should determine the enter and exit point properly. Just don't give up if you lose. If you are a beginner it's hard to control your emotions.But without self-control you won't gain a profit.Also it'd be good to use support and resistance in trading. Recently i have read an article provided by Monfex where they state "A good rule of thumb is to set your stops at support since if the price falls to consolidate at the break and fall back to the resistance, you now know that there was no demand at that price and that supply is growing.". Do you guys agree with it ?
I started trading as a Forex trader, and when I started it was really quite very difficult for me to control my emotion and I kept failing virtually in every trade that I do and what you said now made me remember how I started controlling my trade which is to first deal with the entry and exit point, this is where emotion usually play the most.
I simply just started making use of my stop loss and take profit tool, and when I set my trade, I try to be very reasonable and not too greedy, and with time, as I watch my profit grow, I learn never to play with those tools, they are every important if we really want to control our emotion. So dear, I totally agree with you that we should always set our stop loss for any trade that we make for us to trade without emotion.