In order our forex trading tutorial to be more practical, we are going to learn how traders may make use of emotional thinking. Let’s have a look at some examples of the best forex trading

Practices and not that good ones on an example of Bill who is quite experienced in global forex trading and his forex trading strategies. In this section of forex made easy we will try to understand how he uses emotional thinking in order to help his trading.

In the first scenario Bill is going to show his abilities to perceive the emotions of his own and the others. He is using them to solve his problems and to find answers to his questions. Bill is trading in one office with 75 other traders. Right after opening the market he notices that his colleagues are cutting large blocks of technological companies. Bill doesn’t really feel like a bear and he decides that it’s worth waiting. He notices that he is quite uneasy as it’s not natural for him to avoid trading in the first 10 minutes after market opening.

Yet, he decides to watch his stressed feelings and to keep his eye on hid colleagues mood before opening any deal. The market is rushing upwards and he can feel the pain of the other side players. Once painful feelings of his colleagues are getting stronger he starts opening short positions one after another while the market is falling. In 30 minutes he closes his positions receiving considerable income.

In this scenario Bill’s ability to watch his own feelings and the feelings of his colleagues and use them for decision making.

In another scenario, two hours before closing the market, Bill is opening ling positions of three semiconductor companies and all of the deals are getting profitable at once. In one hour, however, Bills positions are turning the opposite way, but still they are not low enough to achieve the forecasted stop-loss levels. S&P futures are going to the other side and his colleagues are opening short term positions for software and internet companies. He watches how his previous feeling of relax has changed to stress.

Previously he could have sold his semiconductor companies positions and open new once together with his colleagues, but he decided not to hurry. Bill recons how hw used to be sad about loosing money copying the actions of other traders. As a result he decides to stick to his strategy of semiconductors companies long-term positions and drive away his concerns. Right before the market closes, Bill is selling his position with tiny income.