How to Deal with Negative Emotions when Day Trading

In day trading, the big emotions can take over and mess up your strategy and your returns. The enemies are doubt, fear, and greed; like any bullies, they have their toadies, including anger, anxiety, boredom, and depression.

• Doubt: Day traders have to act fast to place their buy and sell orders. There isn't time to second-guess the decisions. That’s why traders need to stick to their plans, which isn’t always easy.
  Backtesting can help build confidence in a plan, and the use of automated trading tools can help overcome the tendency to hesitate before clicking on the mouse button.
• Fear: Fear is one of the worst emotional enemies of the day trader. Instead of trying to make money, the fearful trader tries hard not to lose it. He is so afraid of failing that he limits himself, doesn’t take appropriate risk, and questions his trading system so much that he no longer follows it, no matter how well it worked in the past.
  One way to limit fear is to have a plan for the trading business. Before you start trading, take some time — maybe half a day — to sit down and

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