Post
Topic
Board Trading Discussion
Re: Things that influence our trading decisions
by
yhiaali3
on 12/07/2023, 04:22:45 UTC

* Emotional Intelligence

This is the way for us to recognize the emotional estate, and how it influences our decision-making. Our traders have different techniques to cultivate emotional intelligence and maintain emotional balance during trading. One of these is "Mindfulness meditation" a type of technique that can help people to observe thoughts and emotions without judgment so that rational decision-making can return. And another effective method is "Journaling" Here, traders can track the decisions they made in the past, and they can reflect on their emotions.

This is where they can identify the triggers of why they decided to enter the trade so that the same mistakes will not happen again. Because a trader gains insight into his emotional response and can develop the right strategy to manage them effectively.
“Emotional Intelligence” This is a new term in trading for me, I did not fully understand what is meant by emotional intelligence, does it mean the ability to control our emotions when trading?

I know that the basic emotions that control the trader are fear and greed, and they are often the reason for his loss, and a good trader is the one who develops his ability to control the emotions of fear and greed, but this is not easy because of the nature of the human psyche, it is very difficult to overcome human nature.