Topic: 6 ways to help you not be emotionally dominated when trading cryptocurrencies (Read 639 times)

The market is much more complex and requires special attention from traders than the things that you listed.

In order to effectively trade cryptocurrencies, it will be enough for you to have a platform that is safe and fast enough, VPN if your providers do not approve of such a platform,
as well as certain technical and psychological skills, including the skills of a trader. In any case, the tips you listed can also be used in special cases.

By the way, the link to your article leads to material that is different from the English language, which prevents perception.

Basically, VRA token is one of the most tradable on Binance DEX and on KuCoin. Moreover, Verasity has proved its value to publishers by dramatically increasing viewer engagement and video views on their site domains to 1.3M viewers. Of course, I recommend you to Google the guys as there are many great news around them

Hmm, Verasity sounds very familiar, but can you please provide more details on what exactly the guys are offering? And what are latest results?

Well, the most important components for me are for sure the concept, the technology, innovations and practical value solutions brings. And working product is a strong plus, of course. Great example these days is Verasity. Guys are setting entirely new standards, also being listed and planned for Tier 1 exchange listings on most popular exchanges

Evening! In general, I agree with your statement. But what do you mean by advanced solutions? How do you differentiate ones?

Hello. To tell the truth, I am sure that much depends on the particular solution. And of course, advanced solutions will always keep being in demand

After all of this, do not be worried if you do not do well with emotions neither, sure you should be mainly in control of your emotions, that is true, however if you are not, that is still fine as well. I do not mean in general, in general you should be, however there are some off times when you are just way too emotional about stuff and make mistakes end up losing money and it generally sucks at that moment, but what being emotionless requires is to keep emotions out after being emotional on a decision as well.

Say you saw something that interested you, instead of going into the mathematics of things you just went straight up and bought it right? Now that is horrible, and you end up losing money so that is even worse. But you should just forget about it and move on like nothing happened, that is the real deal right there.

for me controlling emotions becomes a very important factor for traders.
if emotions can be controlled he will not panic when assets decline and sell it immediately.
on the contrary a trader must be patient when prices go up or down so he can get the maximum profit

In trading is either you end up with Bitcoin or USDT coin so where is the lose here? buy low and sell high, if you get USDT and bitcoin grows higher just wait, might take weeks but bitcoin will surely goes down, all most lack is patience

I do not think these six ways will help any trader to come out of their emotionally dominated situation. Because from my experience it will be possible only if we are having a good experience to get rid of emotions unless otherwise you are new to crypto trading and you are getting emotional very frequently than these methods will not help you at any cost. I'm not discouraging OP but I'm just talking about the fact what I have observed in my trading experience.

I have come across lots of tutorials and tips but nothing helped me to be a successful trader among many trading related issues and situations but my experience helped me how to get rid of them regardless of how good we are in analyzing the market directions.

I mean to say being good in analysis is a very big task but that alone will not help you to be a successful trader because you need to manage your emotions and capital along with your good technical analysis. These will be possible only when you groom along with your experience and continuous learning.

usually those who still can't control their emotions are traders who are new, they don't know too much about cryptocurrency price movements so they often make wrong decisions and make them lose.

if it's like that I prefer to trade in coins that have limited supply and have very high development and demand and apply long-term trading because they prefer to trade with little risk and your emotions will be maintained because you don't need to always open a place of exchange, so you trade using money that is not too important.

If you happened to be overly worried about trading and holding, then the chances are good that you're risking too much money. The best thing to do in this case is just to decrease the amount of money you have in the crypto markets and step back for a few days or weeks so that you can gather yourself a bit more and stop letting your emotions take the wheel. While it's extremely tempting to just dump money into crypto in hopes of scoring a big win, also realize there's also a ton of risk involved. A lot of the worst decisions I've ever made in trading were when I was under pressure as a result of being overinvested, and things massively improved for me once I realized this.

On decision making you must impart doing big decisions that is mainly being influenced by your emotions because mostly wrong decisions are made out frustation that makes the decision impulsive. On trading you must not be emotional that because you are suffering that much is that you will trade your assets into a lower price just to somehow save yourself. Always remember that you are into a crypto community and part of it is experiencing down fall and not primarily stays on rise ups. Also, do not make important decisions driven by your emotions because you will just regret doing such after you see the results. On doing business, a good investor knows how to isolate his feelings from his job making him successful and the same thing applies on working with cryptocurrency.

You can easily make mistakes that can never be repaired when trading so it's better not to be greedy, it's good to sell when price is high and rebuy when price is low but know which coin you trade with

Controlling emotions in crypto trading, of course, must be owned by a trader to avoid losses and can control himself to decide when to make sales and purchases at the right time that might provide benefits. Of course everyone has a different character, and can do a variety of ways in trading, some are targeting profits every day by trading short-term and some are hoping to get a big profit so that the decisions they make into long-term investment

It's not just about psychology but how to have a comprehensive understanding from the beginning and make good planning, stick to it and do not act recklessly.


Why doing the opposite? When the price drop, people will buy the dip, if you do the opposite, then it's sold at the dip?
If the price rises up, the mass will sell at the peak, but you buy at the peak? You will have the greatest loss all the time.

Trade with a plan only and know your limits.

That's true. But we can prevent the bad emotion by having control for ourselves. It is not easy, but it could be possible to learn. If you think that emotion becomes bigger, I suggest you quit trading and shut down your computer, search for another thing that will distract your mind from trading. That will help you to release the stress in trading, and also you can think clearly when you back to the market. Once we lose control for ourselves, it will disturb the analysis we already made, and we cannot focus on searching the good time to buy or sell.

First, this should be in a trading discussion.
Second: The link you have provided is a website of vakaxa which aims in blockchain application developing. I am expecting some link where you get some tutorials and/or tips in trading. Where is the 6 ways in your topic?

Anyway,being a trader makes us feel mixed emotions. I may add up to always Set stop loss in every trade. This may save you up from big losses if unexpected sideways occur.

Agreed mate, even though I wouldn't directly follow anyone's tradI'd like to tell people to diversify, outside of crypto as well. It's too small of an industry to purely focus on and traditional options for stability are not bad investment choices at all, especially if you are more thinking long term with your investments.ing advice, getting different opinions from other investors and traders really helps you make your own opinion when it comes to things, and it has definitely worked for me.

Emotion is always a part of each and every individual. Emotions can also do good... Why do I have to do this? For whom am I doing this? This questions also involve emotions. But what makes emotion bad when trading? It's because they cannot control their own emotions and it affects them negatively.

We cannit erase the fact that sometimes emotions are always there that's why we need to control them.

Before starting at trading you have choose correct exchange and looking volume transaction of your altcoin trading, many exchange market less volume for sell buy order and look much sell order, you can get profit if you trading there because your coins never could be sold, you have stop your limit profit to when trading.

I can say that this kind of behavior isnt really that kind of flawless where you do think that those funds are already gone when you do invest it because
if you do think up this way your seriousness on how to make money would be surely affected.Lets say that you do make yourself emotionless but
in exchange you wont really be that keen on how to make crucial decisions that will benefit you out since you dont care on what would be the outcome
or simply you do just play gambling if ever you do have this kind of traits.

I think to not be affected if we are into investment or trading.  Every money we allocated on that investment/trading, think of it as already gone and move on.  That way, whatever happen on that fund, it won't affect us negatively.  That is the simplest action to take, i don't know why we need it to be complicated. If we don't want it to affect our family, then better to invest our excess.  Don't compromise the family budget.

Well, we have many ways for us to win our trades, but we have our tough times. Frustrations is inevitable, and these frustrations will define our success. If you let your frustrations hold you, then obviously you will not grow and be a better investor. One of the basic rule is that don't make decisions while you are in a when you're angry or frustrated. Better cool down so that you wouldn't make things that you will regret in the end.

Strategic and advance thinking will be build when thinking of a plan. Thinking of the possibilities will help you to analyze the situation in the market. Having not once, but more than twice of a strategy will help you out if something bad happen that you do not anticipate. Keep calm and stay cool in every decision you made, this will help you to make a way to any bad situation you're in.

Buying bitcoin and trading it is one of the many ways to get profit. The most difficult thing to control is the emotion of the buyer or holder of bitcoin. Holding a number of bitcoin assets when dumping prices is the most difficult thing, the reason is the further the bitcoin price goes down, the thinner the amount of money left.
Although I know the price will recover in the future, but I have to hold the asset longer and I know as long as the price does not exceed the capital, that's how much profit I did not get. Until now, I wasn't sure I could hold an asset when the price dropped.

For me the best way to learn trading is to experience it, you can do it without a cost by just writing down trades but you must take it seriously like its your real money.

Its really hard when you are starting but day by day as you lose and win you will learn a lot of things you will learn to make analysis and what decision to make.

Do you think so? I do not think I'll mind so much, falling in love with the Bitcoin, I think you should have said "never fall in love with any altcoin".

Bitcoin is not just any regular coin, it is indeed an asset, a currency etc, when you hold the bitcoin, you can be rest assured that it wouldn't crash, just as many altcoins would do.
I used to diversify so much in the past, but when i realized its a complete waste of funds, I am more or less just(only)a bitcoin enthusiast, I buy few altcoins though, those that fascinate me a little.

I would like to personally tell my tale of trading cryptocurrencies and how I use a trick to create a partition between my rational mind and emotions. Basically i have some rules which are I always trade for a certain fixed amount of return each day. For example I set my target that I would earn $50 and whenever i hit the mark I just get up from the market irrespective of the fact If I got that in even 1 trade. Secondly in cases of losses I have a set criteria to make at maximum 3 losses. Which means if I hit 3 stop loss back to back I just get up from the market and end the day without the intent of taking revenge. These tricks help me with keeping my state of mind while trading which is really important.

The more plans you have in Trading, the better you will perform, it is a way of not getting cornered and lose your focus that will lead to a certain loss of profits. A clear state of mind (Zen) will help you in all aspects of Trading, it would be easy for you to move when you know what you want, what you need, how much profits you want, and how you are going to execute your plan well.

Right timing is important, even you are just a seconds late could change the momentum of your Trading, you could be frustrated and bad things will start to happen.

I have similar list of principles for myself when it comes to trading especially your 3rd and  4th points will help us not to lose profits after earning it as most of us wants to wait for huge profit and does not sell the coin when the price pump expecting for a bigger value which most of the time turns out to be a mistake because the markets is too volatile nowadays. As you have rightly mentioned it's better sell it once we see profit rather than waiting for bigger profit. Even I would prefer investing into one particular coin after a proper research rather than experimenting on multiple coins.

Everything you said it's correct but this will not help everyone not to get too much emotional.
I think this is the phase that every trader goes through and the best way to control your emotions is experience. And to get experience it takes some time and in that period it's inevitable that you will make some mistakes driven by your emotions.

Diversification is one important strategy one should be using and by that I mean not investing everything with cryptocurrency...spread your money with other investment vehicles available in the marketplace. These days, there are now many good platforms one can use anytime anywhere for this purpose.

Now, as to cryptocurrency, we should not allow emotions to be the prime force when selecting  digital assets, in keeping them and in trading them. When it is time to let an asset go, it must be done as fast as possible as time can be an enemy if not tamed well. Holding on can be a good strategy but sometimes can also be a bad one depending on the asset one is getting into...in the world of cryptocurrency we know that volatility is one of its major feature and this can present a big problem from time to time and that is why it is good if you know a lot about a certain coin or token you are getting into especially if you are thinking about holding it on the long-term.

I understand that there is a bigger money that can be made while on trading rather than holding but at the same time more risks can be involved here and that is why we have to make sure that our emotions and preconceived notions are not getting in the way. As always, education is the key never stop learning new things and discovering new angles even with things you are already an expert of.

I was greatly helped by the input of this forum regarding trading tips for trading crycptocurrency. I use which
in my opinion it fits with the constraints that I experienced. I will discuss a little about the method or strategy
overcome emotions when trading cryptocurrency. First, don't choose too many coins in trading, later we will stress
manage it will make you emotional. Second, don't too fanatical about one coin, except bitcoin is not a problem.
The third, if it's already profit, immediately sell your coins. Please don't delay to get a big profit. The fourth, choose coins
with large volumes if you want playing short-term or daily trading. I already run all four strategies and  it can achieve results
that is satisfying. Good luck to all of you.

Everything has a bit of psychology to it, and in order to eliminate that factor completely, sometimes you need to do actions in business or when it comes to money rationally and without any emotion at times because it will benefit you more.

There's also that mindset in trading, especially when people have lost money and they go all in desperate attempts to recover their investment back, and that is known as trading with your heart, which is the most obvious example of trading with your heart.

never fall inlove with any type of investment, it makes it realy hard to let go when you have to. and it makes you see things in a unrealistic light.
its better to hate the asset you investing in. but u cant deny it has its uses lol, atleast then you are more realistic about the outcome.

You may post this article on medium or steemit websites because if you post such kind of article they will at the payment and their wallet.
when you involve in trading field you must stay away from emotional feelings like you deal the crypto gambling.

It is muc hbetter to trade in crypto that is going somewhere and has a planned use that is very close to being put in practice or an already existing and working use for the crypto. These are more of a sure thing then these other random tokens with no reason for being. These are the cryptocurrencies that are longterm and will gain over time. They are the ones people should be putting their money in. Don't put your money into trading a currency that you don't feel will make it or accomplish their goals. Give the project a certain amount of time and if they do not reach it then move on perhaps.

Facing bitcoin is almost always the same as how you face gambling. You trust what you see in the board and gather info yourself about how your opponent plays (if there was one). You'd rather lose because of your own mistake rather than lose cause you followed some randok "sure win" guide found on the net.

It isn't an exaggeration to call investments in bitcoin as a gamble and you basically face the gambling table when you start investing, and you stay on that table for a lot of years.

It's not just for cryptocurrencies. I think this is the most valid question for all investments. Can we afford it? Borrowing, no investment. If we move from here, it is risky to invest more than our earnings. Especially crypto investments are very risky. You have to consider this. We all have to.

It's all in the mind, whether it's trading, gambling or other things emotions are present whether we like it or not, we are humans thus it is normal that we may become a bit emotional when trading moat especially that it involves money but we must also know and bear in mind that in trading being too emotional can't help but instead it will only worsen the scenario so it is best that when trading a trader must maintain good temper and remain focus on the plan so that you can make good decisions.
Trading is easy said than done that is why it is important your ready not only financially but also emotionally to avoid unnecessary losses.

You need to be mentally prepared for a sudden changed. because when trading everything can happen in a blink of an eye. the worse people who join this industry are those who listen to other people's opinions regarding trading. every time you want to buy coins, it is recommended to see its past price and past development. the less updated the coins, the less it's likely its price to pump.

Sometimes you already holding the right one but you are just lack of patience to hold it for a little longer. this is where most traders failed to get a high amount of price when he is trading. When he sees that the price continues to fall every day the more likely he encouraged himself to sell his coins and the next month or two the price will pump. we need to learn when is the right time to sell. so that we will never have such a bad experience.

as long as you are calling altcions "assets" and have them in a bag and call that  bag a "portfolio" you are doing everything wrong because they are not assets and they are not investments to be able to form a portfolio. altcoins are bad in long term not to mention that they are always in dropping mode if bitcoin rises or falls which makes them even worse investments.

My portfolio strategy is as follows;
1) Minimum 25 assets
2) Never fall in love with a coin
3) Feel free to sell
4) Run away from the pumps
5) Dont day trade
6) Join all ieoes of Binance and Okex

You should make a set of basic rule and stick to it if you want to succeed in the trading. Jumping around according to market movement or how you feel about a coin would rarely earn you a profit. There should be specific points for you to buy or sell a coin. A simple formula could be selling on 20% profit and on 10% loss against your reference currency.

Plans can be changed depending on the market condition that is why we have PLAN A, PLAN B, and soon.
Greediness is a thing that is commonly present to all of us and because of that we are forced to work hard but what a thing gives a negative impact. It is really hard to escape from this especially when we are already thinking about money and it getting more stronger.

I get so scared I start to shake when I trade larger amounts. When I finally withdraw and my tokens are in my wallet I can breathe again. Or I get up and go for a walk.


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Greed is a common one. The emotion can make people not think well. The ridiculous promises of a scammer suddenly seems possible because you want so badly to be able to create money with ease.
I think they fool themselves. When people invest in crypto they often do the same. Wanting things to come quick and easy.

For me it is always good to have a plan and you should stick to your plan.
Know when to quit or cut loss and when to take your profit.
This is the problem most of the traders could agree on or most of us have experienced.
Most of us are too greedy to take the profit and thinks that it would continue to grow and it is the main reason why some lose their peofit and sometimes also their capital,
Same way to cut lose we often thinks that our investment or crypto would go up again and sometimes we would lost more because it would continue to drop.

Controlling your emotions is an essential factor in being a successful consistent trader. Most people don't put much emphasis on it, but mastering control over your emotions requires a lot of mental work. I would say that it is much more work then what you invest into learning chart patterns, horizontal lines, etc. Besides technical analysis and emotions control the third factor of the equation is risk management. If a trader manages to to put all these into alignment or if you want somewhat of an equilibrium then he will surely be successful.

I am sure that only a few traders will think about what you write.
Most traders will not think that because they think about what coin should I buy today.
And they will search for information related to the market situations, maybe some of them are used telegram channel to find the signal or some others ask their friends who they knew to give suggestions.
Many of us still hard to control our emotion in trading, and many of us cannot see which coins that could be potential in the next hour or day.
But we could learn how to control our emotions so we can avoid making a mistake.

Always stick to your plan, doesn't matter if its the best or not. You can do a coin flip and trade 2:1 and still, eventually, come out with a higher position. The moment you step outside and try to do some reckless trading due to FOMO or FUD that is when you lose.

Isn't it all about psychology? If you do the same things with the others, in emotionaly meaning, you will be the mass who lose money. So, it is all about acting rationally and doing the opposite of the mass time to time. So, I value the hints that you have given for not acting pyschologically. I think we should let the bots to the trading and decrease the effects of human beings for trading.

In trading in any case you can not give in to emotions otherwise you will lose everything you have

Buying and trading cryptocurrencies can be an emotional experience. It is fast paced and there are many different types of transactions to make. Some people try to make money from the volatility of cryptocurrency prices through short-term trading during the day. Others are looking to hold on to long-term investments and hope the cryptocurrency they buy will be a store of value.
All of this makes buying and trading cryptocurrencies fun and profitable. But it can also be tied to FOMO and FUD, which creates risks that influence decisions because they are based on emotions rather than facts. In order to minimize risks and avoid losing money in the cryptocurrency market, it is important that you always control your emotions.

The most important thing before you start trading is to have a clear / specific idea of ​​your goals when investing in cryptocurrencies. Before buying any coin, ask yourself the following questions:
 How to buy coins that fit your finances in general? Do you have other savings? Is crypto the best way to start investing? Buying a safe coin will have an easier start?
       Can you afford the losses when buying cryptocurrencies?
       Do you know anything about the risks and volatility in the cryptocurrency market?
       How will you use your cryptocurrency: buy and hold, or trade?
Choose the right exchange

Choosing the right trading platform is one of the ways that will help you achieve your goals. Some exchanges list dozens of coins to buy and trade, while others list only a few. Some allow you to withdraw your cryptocurrency into fiat currency, allowing you to buy crypto with fiat while others do not. Finding out which floor is best for you is essential. Here are some factors that you need to consider
See more: https://vakaxa.com/vi/top-4-san-giao-dich-tien-ao-hua-hen-mang-lai-loi-nhuan-lon-trong-tuong-lai/

Location: Using residential floors in your country will help meet all legal requirements. It is also easier for you to send or withdraw money in your country's fiat currency using the same bank where you live.
Coins and trading pairs available: Take a look at the exchange you want to use. Which coin, which trading pair is available? Can you buy cryptocurrency with a fiat currency deposit or just with another coin like Bitcoin? If you are looking for a long-term investment, trading with basic coin pairs is the best. On the other hand, if you are looking for a day trade, you may need to trade with advanced trading features.
Security: Security is one of the very important things. Use any type of website with a strict login process, the better. Make sure the platform does everything just to protect your money from hackers. Check out the news regarding this platform and every risk that has ever been reported. Another part of security is access to the floor's support team, which helps you to contact managers when anything goes wrong or you simply need help.

Know your limits

You have to know how much you can spend and stay within that limit. The amount you want to spend depends on your funds (see item 1 above). Investing in cryptocurrencies carries significant risks, so you should only spend what you can afford to lose. Once you've set your limits, adhere to that. Don't decide to spend more on a good idea because of FOMO. This can lead to a disaster.
Take advantage of limit orders
Limit orders can protect you from falling into a loss when the price of cryptocurrencies plummets. Limit orders allow you to set the lowest limit that you will allow your cryptocurrency price to drop before selling. Limit orders also help lock in profits ..

Do not obsess about market charts

The essence of the cryptocurrency sector is that prices always fluctuate significantly. This is something that appeals to crypto trading. The change in price can be in seconds, creating a profit opportunity. At the same time, volatility can cause an emotional roller coaster. See a market chart that can cause your blood pressure to rise and trigger an emotional response, leaving you in FOMO (fear of being abandoned). It is true that market charts are valuable, but from my experience, staring at them 24 hours a day is not the best way to keep your emotions under control when buying money. electronic.
Conclude
Cryptocurrency trade can be very interesting and potentially profitable. But it also comes with high emotional risks. I hope the six items listed above can help you stay strong regardless of the situation.
Good luck!