How to Conquer Emotions while Trading – Part 3

Welcome to part- III, the final part of HOW TO CONQUER EMOTIONS WHILE TRADING.

We ended the second part with three important points:

1. Why people who rush into trades are favourite prey for whales
2. Why higher time frame is important
3. Why you should always stick to your plan

These are very basic things and most traders are aware of them but when it comes to implanting them, they lack.

Around 80% of traders quit trading within the first two years, and the reason is, they don’t focus on these basic principles.

1. Why people who rush in the trade are favourite prey

People without a proper trade plan are easiest to trap and favourite because they are the ones who provide liquidity to whales. They don’t have any exit strategy. When they see the price breaking out, they think they will miss a major move if they don’t take the trade. So they decide to enter the trade without any risk management. Whales take advantage of this by fluctuating the price, triggering emotions that force people to make hasty decisions like panic selling or panic buying.

2. Why you should stick to your plan?

Let’s understand this with two