Control your trading emotional outburst and get yourself together!

lixer

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Quote from: jrrsparkles on June 11, 2021, 08:07:15 AM

Don't panic, everyone lose their money in trading so you are not only facing this but how soon you understand what is the mistake done by you and rectify that in your next trade is the key point. If you continuously keep failing in trading then just take a break and then comeback when you ready, just keep in mind that don't over do it so you can avoid too much stress.

There is literally no way one can rectify a mistake they didn't make in the first place. I don't think buying BTC @$55k-$60k was a mistake at all because the market was bullish and expectations were reaching $100k. A mistake would have been if someone invested in a shit coin and expected it to grow but BTC is the best possible asset to invest so it wasn't a mistake but a misfortune.

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It would not be astonishing that a ton of individuals are encountering fit of anxiety and much more regrettable having self-destructive contemplations as I am composing this. So what I did now was to leave the coin till at whatever point it chooses to increment in esteem then I sell. I wasn't influenced a great deal since it wasn't my last cash.

People have even suicided, I read in some Reddit posts and tweets. The best thing one can do during such times is to just lock their coins and forget about them for some time. If you keep checking their price daily and it is for some reason dropping bit by bit, you will eventually lose control and sell the in anger and that is what whales want people to do.

fullhdpixel

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Quote from: XCANA on June 11, 2021, 04:44:34 PM

Your are among the type of people that do buy when one supposed to sell and take profit from your investment. Good to know that you have learned your lesson and now buying at the right time. Now is the buying time whoever want to invest now before is too late again.

Usually, I refrain from giving investment advice to others because neither I am an expert nor I want to be responsible for others' loss. This time though, I feel like suggesting others to buy because soon we might be on the rocket to the 100k cloud once a decent bull run starts. I still don't know why the price fell down by so much because we may blame someone for it, but a single guy although a billionaire shouldn't be solely responsible for the crash.

If you don't want to buy right now guys, at least don't sell at such prices because it's almost certain that we will hit better prices if not a new ATH altogether really soon. That said, it's your money so take your own decisions and I am just sharing my thoughts.

It's not easy to keep yourself up and optimistic when you have lost half your portfolio value but this is what we are all discussing in this thread, how to avoid the emotional outburst and gather ourselves.

XCANA

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Quote from: Distinctin on June 11, 2021, 05:01:05 PM

Quote from: XCANA on June 11, 2021, 04:44:34 PM

Quote from: Hannahanto on April 24, 2021, 04:20:20 AM

I left trading for a while, I just resumed and bought coin at ath instead of buying at dip, last week the market was going smoothly with my thinking that the price of trx will continue to pump I bought and within 24hrs on Sunday it dumped, I've been regretting all through... So what I did now was to leave the coin till whenever it decides to increase in value then I sell. I wasn't affected a lot because it wasn't my last money.

Your are among the type of people that do buy when one supposed to sell and take profit from your investment. Good to know that you have learned your lesson and now buying at the right time. Now is the buying time whoever want to invest now before is too late again.

People had to change, learning from our mistakes is the best thing that could help us to grow and become more responsible for our future. Taking such an opportunity to buy at a low price, hold, and sell when rallying back, is a strategy that we commonly used, and yet it was efficient.
What makes people not enjoyed trading is because they are controlled by their fear and doubts. They are not comfortable of what they are doing which it leads to wrong decisions that become a reason for our failure.

The fear is as a result of the fact that many of them are either using their last money or the one they borrowed for investment purpose. Using such money for crypto currency trading will make you to be under pressure and in that condition you will not be able to make good trading decision rather yoy will end up with decision full of emotion.

Distinctin

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Quote from: XCANA on June 11, 2021, 04:44:34 PM

Quote from: Hannahanto on April 24, 2021, 04:20:20 AM

I left trading for a while, I just resumed and bought coin at ath instead of buying at dip, last week the market was going smoothly with my thinking that the price of trx will continue to pump I bought and within 24hrs on Sunday it dumped, I've been regretting all through... So what I did now was to leave the coin till whenever it decides to increase in value then I sell. I wasn't affected a lot because it wasn't my last money.

Your are among the type of people that do buy when one supposed to sell and take profit from your investment. Good to know that you have learned your lesson and now buying at the right time. Now is the buying time whoever want to invest now before is too late again.

People had to change, learning from our mistakes is the best thing that could help us to grow and become more responsible for our future. Taking such an opportunity to buy at a low price, hold, and sell when rallying back, is a strategy that we commonly used, and yet it was efficient.
What makes people not enjoyed trading is because they are controlled by their fear and doubts. They are not comfortable of what they are doing which it leads to wrong decisions that become a reason for our failure.

XCANA

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Quote from: Hannahanto on April 24, 2021, 04:20:20 AM

I left trading for a while, I just resumed and bought coin at ath instead of buying at dip, last week the market was going smoothly with my thinking that the price of trx will continue to pump I bought and within 24hrs on Sunday it dumped, I've been regretting all through... So what I did now was to leave the coin till whenever it decides to increase in value then I sell. I wasn't affected a lot because it wasn't my last money.

Your are among the type of people that do buy when one supposed to sell and take profit from your investment. Good to know that you have learned your lesson and now buying at the right time. Now is the buying time whoever want to invest now before is too late again.

Issa56

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Seriously from the little experience am having with people I believe this is a very nice topic I believe as a beginner you have to know that you don't have to be emotional with any coin or you endup losing your money, for example you won't see a coin now and after trading it for the first time it gave you a good profit them you fall in love with the coin and decided to buy the coin a again you might endup losing your money the second time, and after buying a coin the coin started dumping and you ended up losing your money in the coin and you believe the best thing to do is to enter the coin again and make your money back you might still endup losing the amount you invested in the coin the second time again. So don't you ever fall in love with any coin as a trader you have to be neutral and do your research very well before buying a coin.

isaac_clarke22

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Quote from: milewilda on May 17, 2021, 04:48:29 PM

~

Easier said than done.
This topic is somehow getting derailed a little bit already and it could fit to Off-Topic section.
Emotions is already part of us, and controlling it is hard but it would be best to hold off the reaction because that is where the result of emotion comes by.

Quidat

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Quote from: jrrsparkles on June 11, 2021, 08:07:15 AM

Don't panic, everyone lose their money in trading so you are not only facing this but how soon you understand what is the mistake done by you and rectify that in your next trade is the key point. If you continuously keep failing in trading then just take a break and then comeback when you ready, just keep in mind that don't over do it so you can avoid too much stress.

But there are really people whom do really mind that they are the only ones who do losses up money and not much aware on how market works in terms of buyers and seller or get involved to those who made profit and to those who had lost. Overdoing not only in trading but also into other things in life would just produce up some not good outcomes or situations that you would be facing on. You would be needing some good control in terms of emotions as if
this would be primarily to show up when you are on a hard situation or scenario which i can say to be normal and this is where experience and self control would really matter.

Fredomago

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Quote from: jrrsparkles on June 11, 2021, 08:07:15 AM

Don't panic, everyone lose their money in trading so you are not only facing this but how soon you understand what is the mistake done by you and rectify that in your next trade is the key point. If you continuously keep failing in trading then just take a break and then comeback when you ready, just keep in mind that don't over do it so you can avoid too much stress.

Good advised, never to over do your trades, it will complicates with your daily balance. if you see that things is not favoring you, taking some break will help you out to realize,

Give room to yourself and try to assess if you are keep failing with the same attitude towards your trading participation, if you can adjust and learn from each mistakes you'll soon find the right spice and patterns for more successful trade.

It's tough positioning yourself, emotions always make it tough especially when the trends is not favoring you.

jrrsparkles

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Don't panic, everyone lose their money in trading so you are not only facing this but how soon you understand what is the mistake done by you and rectify that in your next trade is the key point. If you continuously keep failing in trading then just take a break and then comeback when you ready, just keep in mind that don't over do it so you can avoid too much stress.

awik p

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Quote from: LUCKMCFLY on June 10, 2021, 03:39:10 PM

Quote from: qwertyup23 on May 23, 2021, 04:01:04 PM

Well to be honest, it is really nerve-wrecking to see your investments decrease significantly in value especially when the value of bitcoin drops. This also depends on the amount of your invested capital, thus, the higher the amount you invested, the higher the increase/decrease on your investments depending on the value of bitcoin.

Unfortunately, emotions are one of those things that are difficult to control in situations like these. It really is a true testament of one's discipline and knowledge about the market. That is why, assessing your risk and knowing when to exit is a key factor in determining whether you should continue to HODL or to exit.

You are right, in fact it is very difficult to control emotions, sometimes because we do not know how to control emotions we can do everything the other way around, that is, if we enter the market and the position goes against us, it is best to exit quickly, only then would we be accepting a normal and not very big loss, but we always do the opposite, which is to have hope that the price will recover, then we lengthen the losses, and when we are winning we leave quickly with the profit because we think that the movement reaches there and not it will continue to grow more, and it almost always happens that the movement is much bigger still, so we cut the losses, all these errors are those that are produced thanks to the emotions.

I think the only thing that cannot receive or feel emotions would be a bot, but bots also have their big flaws.

I can say that psychology occupies 50% of the success of a trader, 30% for money management and 20% for technical analysis. From this picture, sometimes we give the biggest portion of technique by looking for various sources of technical learning. but it turns out that what determines the success of trading is within us

Traderbtcc

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Quote from: Hannahanto on April 24, 2021, 04:20:20 AM

I left trading for a while, I just resumed and bought coin at ath instead of buying at dip, last week the market was going smoothly with my thinking that the price of trx will continue to pump I bought and within 24hrs on Sunday it dumped, I've been regretting all through... So what I did now was to leave the coin till whenever it decides to increase in value then I sell. I wasn't affected a lot because it wasn't my last money.

It's a good thing you actually bought that trx with the money you can afford to lose, else it would have been a big problem for you,myself have stopped trading for now, cause these days the crypto market is so volatile and it's just moving between one end to another, with no definite trend set, we might still be in a bull run but the market is taking too long to recover, its almost a month now since that crazy dip from $64k to $30k and bitcoin haven't made any attempt to go back above $50k,i think the best thing to do now is to just busy dips of good altcoins and look for something else to keep you busy.

LUCKMCFLY

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Quote from: qwertyup23 on May 23, 2021, 04:01:04 PM

Well to be honest, it is really nerve-wrecking to see your investments decrease significantly in value especially when the value of bitcoin drops. This also depends on the amount of your invested capital, thus, the higher the amount you invested, the higher the increase/decrease on your investments depending on the value of bitcoin.

Unfortunately, emotions are one of those things that are difficult to control in situations like these. It really is a true testament of one's discipline and knowledge about the market. That is why, assessing your risk and knowing when to exit is a key factor in determining whether you should continue to HODL or to exit.

You are right, in fact it is very difficult to control emotions, sometimes because we do not know how to control emotions we can do everything the other way around, that is, if we enter the market and the position goes against us, it is best to exit quickly, only then would we be accepting a normal and not very big loss, but we always do the opposite, which is to have hope that the price will recover, then we lengthen the losses, and when we are winning we leave quickly with the profit because we think that the movement reaches there and not it will continue to grow more, and it almost always happens that the movement is much bigger still, so we cut the losses, all these errors are those that are produced thanks to the emotions.

I think the only thing that cannot receive or feel emotions would be a bot, but bots also have their big flaws.

qwertyup23

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Well to be honest, it is really nerve-wrecking to see your investments decrease significantly in value especially when the value of bitcoin drops. This also depends on the amount of your invested capital, thus, the higher the amount you invested, the higher the increase/decrease on your investments depending on the value of bitcoin.

Unfortunately, emotions are one of those things that are difficult to control in situations like these. It really is a true testament of one's discipline and knowledge about the market. That is why, assessing your risk and knowing when to exit is a key factor in determining whether you should continue to HODL or to exit.

coiner-88

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I accepted that each value drop is a trial of confidence that bitcoin needs to sift through the genuine financial backers that merit the huge benefit. I'm composing this. It is truly troublesome yet the main thing we need to recall that regardless of whether we have lost a lot of cash in exchanging and in contributing, our emotional wellness is the very pinnacle of significant right now.

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Quote from: Ziskinberg on May 23, 2021, 04:35:19 AM

Quote from: ?? on ??

I cannot blame those people who got panicked maybe they are invested a huge amount of money, so they are really afraid of losing it all and maybe they are still new to the crypto world so they are not familiar with this kind of dip. Everyone don't want to lose money but actually, we wont lose our money if we will keep holding it, so do not panic sell if dip happened, just hold it until the market recovers again.

It is not an excuse because in the first place they know already what is trading. And before they put huge money in crypto, they will know also the risk inside but somehow these people are too positive neglected to think that they can still be at a loss if the market will dump.

This is only what I can say if they can't handle the stress and can't able to manage their emotion, this place isn't for them nor to say that they will succeed in trading. To be honest, it is really hard to change our mindset once you already have some bad experience as you can still remember it.

No, you're wrong, I know people who enters the crypto because it is trendy and without knowledge, Invest in it.

You can't underestimate how trend works in this age, and some people are pretty dumb to just go with the flow without knowing anything about where the flow takes them.

Ziskinberg

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Quote from: ?? on ??

I cannot blame those people who got panicked maybe they are invested a huge amount of money, so they are really afraid of losing it all and maybe they are still new to the crypto world so they are not familiar with this kind of dip. Everyone don't want to lose money but actually, we wont lose our money if we will keep holding it, so do not panic sell if dip happened, just hold it until the market recovers again.

It is not an excuse because in the first place they know already what is trading. And before they put huge money in crypto, they will know also the risk inside but somehow these people are too positive neglected to think that they can still be at a loss if the market will dump.

This is only what I can say if they can't handle the stress and can't able to manage their emotion, this place isn't for them nor to say that they will succeed in trading. To be honest, it is really hard to change our mindset once you already have some bad experience as you can still remember it.

molsewid

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Quote from: molsewid on May 22, 2021, 02:38:43 PM

Quote from: sedahan13 on May 17, 2021, 11:20:17 PM

After I have seen the historical of Bitcoin and old altcoin since all these asset started trade on the market, I get view if the price down in bull season is just correction to go the price higher. In my personal opinion, if we loss at the moment above 20% is better keep hold and wait patient for the price recover. Or we can move to other altcoin that look has better fundamental and product. I think bull season is not over yet, and the market only correction and more investors will jump in to it and the price will go higher.

Yep I think you're right. All gamblers should mentally prepared before decided to play gambling. Also, he/ she needs to be emotionally stable aslo for then to prepared for what the possible outcome of gambling journey and for them to be able cope no matter the outcome. I think that's bright idea to seperated 20% of your money when gambling .

molsewid

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Quote from: sedahan13 on May 17, 2021, 11:20:17 PM

After I have seen the historical of Bitcoin and old altcoin since all these asset started trade on the market, I get view if the price down in bull season is just correction to go the price higher. In my personal opinion, if we loss at the moment above 20% is better keep hold and wait patient for the price recover. Or we can move to other altcoin that look has better fundamental and product. I think bull season is not over yet, and the market only correction and more investors will jump in to it and the price will go higher.

teosanru

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Quote from: Mahanton on May 15, 2021, 04:43:24 PM

Quote from: Lordhermes on May 15, 2021, 03:32:02 PM

Quote from: teosanru on May 15, 2021, 03:23:37 PM

Excellent Thread. The biggest emotional outburst I have seen from people is revenge trading. When they lose a certain part of capital especially when they hit a stop loss and the coin comes back to hit the target they tend to forget every rule. They create revenge psychology against the market. They feel that the market has taken their capital away and they will snatch it back. Now, this makes them more prone to losses as they forget each and every trading rule they have. The best solution in such a situation is to stay calm or exit the market for some time to relax and regain your consciousness. Create a threshold for yourself on both sides if you get that much profit or that much loss from the market stay out of the market after you hit that threshold.

This happened to everyone but you become stronger when you have experienced your mistake so many times, I know everyone advise newbies to calm down but they wouldn't listen to you untill it will bit ok them, the newbies know that staying calm when market crashes is good and perfect as a good trader but they won't stay to that rules, that's why there is a saying that says "experience is the best teacher". Let them experience it and they will stay stronger and calm during market crashes.

Majority wont listen and you are right that once someone do able to experience these unfortunate situations then these are the times that they would really be learning up from their mistakes
and making themselves to be a better trader or investor because people wont really be changing up his habits if they wont really be experience for themselves on getting wrecked due to their mistakes.
Emotions is one of the most common enemy not only limited to investment but on other key areas as well where you do need to calm off yourself and be mindful on what are the
next actions you should take for the sake of your advantage.

I have seen numerous traders losing their capital today once again thanks to the hefty pump and continuation of display of emotions. Even when the market gave most of the traders a good chance to exit. Most of them really kept on buying the dip and when their capital almost ended the price went further south and now I can hear most of them screaming out loud. Those who sold in panic are the ones who have been affected the most. I think the bull run is over so we might see a lot of such crashes just like the way we used to see such spikes during the bull run. But emotionally weak trader would always lose money no matter what.

Topic: Control your trading emotional outburst and get yourself together! (Read 900 times)