Emotions play a key role in trading and can significantly impact your decisions. Fear and greed are the two primary feelings that can lead to mistakes. To effectively manage your emotions, it is crucial to develop a clear trading plan and stick to it. Set rules for entering and exiting trades, as well as define an acceptable level of risk.
Practice relaxation methods, such as meditation or physical exercise, to reduce stress levels. Keep a trading journal to analyze your emotions and behavior in trades. This will help you identify patterns and improve your psychological resilience. Remember that successful trading is not only about strategy but also about controlling your emotions.