Control your trading emotional outburst and get yourself together! - page 3.

darewaller

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Quote from: AakZaki on May 11, 2021, 03:09:00 PM

We must have a strategy A and a strategy B, there must be a backup strategy to overcome any problems that do not go according to predictions.

Must be a valid suggestion, I definitely agree with this.

Usually I do have stoploss for all my trading because that is the only simple strategy B, I could have a right away when I am entering into any open position.

After opening a trade, I guess I'm not able to go for another complete different strategy to make another trade. Instead of keep trying within a day I will prefer taking a break so that I will come up with new ideas and all new strategy through different set of technical analysis which might be helping me to recover previous losses along with new profits.

AakZaki

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Quote from: Hamphser on May 10, 2021, 06:55:14 PM

Easy to say but when we are already on the actual market condition or experience then those kind of goals that you had set earlier will most likely be changed nor not be able to follow.

Controlling emotion is one of the hardest thing specially if you deal with this market which does have very volatile price which in result into panic when you do saw your
portfolio is dropping.

Experience is on of the main thing for you to able to suppress that emotion inside you. When you are experienced enough on various conditions
then reacting wont really be too obvious nor easily for you to freak out.

It is very easy to say. It takes a lot of experience to regulate emotions so as not to do things that will cause harm.
I also suffered a lot of losses and I have been trained to be able to regulate emotions, learn from what I have experienced so far.
make technical analysis the main basis so as not to panic and take advantage of every existing fundamental condition.

We must have a strategy A and a strategy B, there must be a backup strategy to overcome any problems that do not go according to predictions.

beerlover

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Quote from: Hamphser on May 10, 2021, 06:55:14 PM

Experience is on of the main thing for you to able to suppress that emotion inside you. When you are experienced enough on various conditions then reacting wont really be too obvious nor easily for you to freak out.

Just staying in crypto market for long period alone will not get you the ability to handle your emotions; because I'm seeing some people who trading for years still going failed against their emotion control. Only those traders who are learning along with market fluctuations, are able to control themselves hence their emotions are not disturbing their trades.

Quote from: AakZaki on May 10, 2021, 05:31:38 PM

Psychology will attack when we are faced with a price that continues to fall and we buy at a fairly high price. this will test whether to Cut Loss or hold it.

You must have prior plan on what to do in the case of market is going against you. If you are having plans for everything then you will never need to go emotional. Just having strong technical analysis must be the simple solution to get rid of emotions.

Kelvinid

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Quote from: dezoel on May 09, 2021, 12:29:22 PM

I don’t think there is anyone that will see their assets crashing and they wouldn’t feel some kind of emotional about it, even those that preaches that we shouldn’t worry about the price dip will also get worried about it, and that’s because it is not easy.

It’s true they say that we should invest the amount we can afford to lose in cryptocurrency trading, but I don’t think anyone holds money with the intention of losing it, but of course, we have to be ready for whatever will happen in the cryptocurrency market, be it a loss or a win, you just have to be ready whatever it is going to be.

It is very unlikely if a person just comes into trading in order to lose his money, he comes because he wants profit but the problem is that if he is able to cope up with the risk and ready enough to accept losses.

It is to know that controlling our emotions is very important in trading and unfortunately, it comes to be the biggest problem to every trader as it was very challenging. And that is the reason why many had failed while just a few of them succeed.

Hamphser

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Quote from: AakZaki on May 10, 2021, 05:31:38 PM

Psychology or emotional in trading is a problem that almost all traders, beginners or professionals will experience. Psychology will attack when we are faced with a price that continues to fall and we buy at a fairly high price. this will test whether to Cut Loss or hold it. However, when the price goes up it is confused to sell or continue to hold it.

which of course we have to stick to our main goal, which is to get a profit. Regardless of the benefits, we should be satisfied.

do not panic when the market is not good, control your emotions and stick to the strategies that have been made.

Easy to say but when we are already on the actual market condition or experience then those kind of goals that you had set earlier will most likely be changed nor not be able to follow.

Controlling emotion is one of the hardest thing specially if you deal with this market which does have very volatile price which in result into panic when you do saw your
portfolio is dropping.

Experience is on of the main thing for you to able to suppress that emotion inside you. When you are experienced enough on various conditions
then reacting wont really be too obvious nor easily for you to freak out.

AakZaki

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Psychology or emotional in trading is a problem that almost all traders, beginners or professionals will experience. Psychology will attack when we are faced with a price that continues to fall and we buy at a fairly high price. this will test whether to Cut Loss or hold it. However, when the price goes up it is confused to sell or continue to hold it.

which of course we have to stick to our main goal, which is to get a profit. Regardless of the benefits, we should be satisfied.

do not panic when the market is not good, control your emotions and stick to the strategies that have been made.

conected

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Quote from: samcrypto on May 08, 2021, 05:51:39 PM

Quote from: goldade on May 08, 2021, 10:28:12 AM

As much it is really hard to control emotions when trading, it is of paramount importance that we bring our emotions under control when trading.
No trader whatsoever can boast of having trading career with no losses. That's totally impossible, the aim however is to keep these losses to the barest minimum which is not possible if you allow your emotions to control you.
It is noteworthy to know that, many times, a lot of folks have lost so much because of fear of losing all only for the market to turn bullish again and regret then sets in

We are all human and emotions are part of the game, if you know how to handle it then you can have a chance to win big in this market. Trading requires a lot of skills and patience, emotions should be set aside if you’re trading because it can make you to the wrong way if emotions takes over every decision you’ll make. Losses is part of the game as well, Just keep trading until you consistently make good profit to cover all those losses.

- It's hard to put aside emotions, usually I just try to hold back and try to forget about it for a short time, that time is enough for me to solve the problems and develop strategies to minimize my damage and maximize the advantage I have, professional investors also act on this approach, they know it's impossible to get rid of emotion, focusing too much will let it leak to the outside. Therefore, by the experience and the things they have learned, they create a temporary emotional separation, not let it explode under important circumstances, only the veteran trader will understand.

dezoel

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I don’t think there is anyone that will see their assets crashing and they wouldn’t feel some kind of emotional about it, even those that preaches that we shouldn’t worry about the price dip will also get worried about it, and that’s because it is not easy.

It’s true they say that we should invest the amount we can afford to lose in cryptocurrency trading, but I don’t think anyone holds money with the intention of losing it, but of course, we have to be ready for whatever will happen in the cryptocurrency market, be it a loss or a win, you just have to be ready whatever it is going to be.

andthereyou

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Exactly. The ability to control emotion is one of the distinguishing quality or characteristic for an above average trader. This ability is tested during difficult times like cutting loses. Our emotion may interfere urge us to hodl but our trading system telling us to cut loses.

Mahanton

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Quote from: bitgolden on May 08, 2021, 05:20:21 PM

Quote from: Obito on May 08, 2021, 10:34:03 AM

I might sound arrogant but take me as an example, I don't daytrade but I accumulate bitcoin whenever I can, and I have been hodling my bitcoin when it was still around 20k USD and my friends tempt me into selling around 30k USD but I carried on and waited and I sold around 50k USD and I am more happy because I got bigger profits compared if I sold together with my friend.

I am sorry to say that you and your friend may start regretting very real soon if you do not buy back at current levels or if you get chances to buy below $50k (99% there could be no chances for BTC to fall below $50k forever), because, there are chances for bitcoin prices to go beyond $100 in coming months and the final ATH for the current bull cycle might be around $280k levels.

You were good that you did not sell around $30k but what led to you sell around $50k when most people across this forum are speculating about $100k? Are you not ready to believe into such speculations?

You cant blame into someone if he had sell out on 50k because we do have different targets when it comes to our investment so neither he sell off early then its up to his choice.
Re-entering the market would really be the hardest thing now because the price is playing around 50-60k levels and playing with those movements is a bit stressful if youd ask me.
We don't know on when that 60k barrier would break out and we would go to another ATH in bitcoin market. Emotions is one of the biggest factors that would
really affect you when you do trade.You would have boggled your mind on where the price could possibly go.

samcrypto

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Quote from: goldade on May 08, 2021, 10:28:12 AM

As much it is really hard to control emotions when trading, it is of paramount importance that we bring our emotions under control when trading.
No trader whatsoever can boast of having trading career with no losses. That's totally impossible, the aim however is to keep these losses to the barest minimum which is not possible if you allow your emotions to control you.
It is noteworthy to know that, many times, a lot of folks have lost so much because of fear of losing all only for the market to turn bullish again and regret then sets in

We are all human and emotions are part of the game, if you know how to handle it then you can have a chance to win big in this market. Trading requires a lot of skills and patience, emotions should be set aside if you’re trading because it can make you to the wrong way if emotions takes over every decision you’ll make. Losses is part of the game as well, Just keep trading until you consistently make good profit to cover all those losses.

bitgolden

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Quote from: Obito on May 08, 2021, 10:34:03 AM

I might sound arrogant but take me as an example, I don't daytrade but I accumulate bitcoin whenever I can, and I have been hodling my bitcoin when it was still around 20k USD and my friends tempt me into selling around 30k USD but I carried on and waited and I sold around 50k USD and I am more happy because I got bigger profits compared if I sold together with my friend.

I am sorry to say that you and your friend may start regretting very real soon if you do not buy back at current levels or if you get chances to buy below $50k (99% there could be no chances for BTC to fall below $50k forever), because, there are chances for bitcoin prices to go beyond $100 in coming months and the final ATH for the current bull cycle might be around $280k levels.

You were good that you did not sell around $30k but what led to you sell around $50k when most people across this forum are speculating about $100k? Are you not ready to believe into such speculations?

Obito

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Quote from: tygeade on May 06, 2021, 05:52:27 AM

Quote from: Obito on May 03, 2021, 06:58:01 AM

~snip

Trying to be quick rich kind of mindset definitely ruin ourselves in trading because that is the core reason why I traders are becoming greedy and keep modifying their target level. Whenever we are not following our technical things but listening to their emotions then that will definitely lead to losses. Only when you are not giving any room to our emotions which can be panic or greediness or aggressiveness then we can make easy profits of the crypto market even in high volatility conditions.

You can easily prevent that ruin when you are trading, just be patient and always remember that good things comes to those who wait. I might sound arrogant but take me as an example, I don't daytrade but I accumulate bitcoin whenever I can, and I have been hodling my bitcoin when it was still around 20k USD and my friends tempt me into selling around 30k USD but I carried on and waited and I sold around 50k USD and I am more happy because I got bigger profits compared if I sold together with my friend.

goldade

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As much it is really hard to control emotions when trading, it is of paramount importance that we bring our emotions under control when trading.
No trader whatsoever can boast of having trading career with no losses. That's totally impossible, the aim however is to keep these losses to the barest minimum which is not possible if you allow your emotions to control you.
It is noteworthy to know that, many times, a lot of folks have lost so much because of fear of losing all only for the market to turn bullish again and regret then sets in

tbterryboy

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Quote from: isaac_clarke22 on May 07, 2021, 09:28:25 AM

The quick rich mindset is gonna be hard to manage for a lot of people because the volatility of the market itself already tells the story.
The expectations goes to the moon before the price.

Yeah, our expectations should be based on technical analysis and not an emotions driven. In my experiences, emotional outburst are happening when we are not good at technical analysis like when we do not have proper signal to enter/exit then people start listening to emotions which makes them going greedy to alter the target levels or getting into enter before confirmed entry point will be available.

Just following what technical things are telling would be the only way, we can avoid sad endings of crypto trading. I am just holding for long duration which is also seeming get affected by emotions but I somehow managed not to go by emotions which helped me not to have any big regrets.

isaac_clarke22

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Quote from: Obito on May 03, 2021, 06:58:01 AM

~

Anyone wants to get rich. Anyone wants to be like Musk. Cheesy

The quick rich mindset is gonna be hard to manage for a lot of people because the volatility of the market itself already tells the story.
The expectations goes to the moon before the price.

Sled

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Quote from: darewaller on May 06, 2021, 09:36:06 AM

Quote from: tygeade on May 06, 2021, 05:52:27 AM

Self control will lead us to consistent profits and I agree that controlling ourselves in terms or emotions is not possible when we are newbie in trading.

Consistent profit is something, every trader is always dreaming about. Because, even I am into trading for years, I could not manage my emotions effectively. Market conditions are too powerful to deceive any trader regardless of their level of knowledge and level of experiences. So, always trading within safer limits will help anyone to make some profits rather than aiming for bigger things. I was targeting consistent profits before but later I have changed my mind as even profits are better than finishing a day in losses.

It is absolutely different deciding when you are in hard times. It is really to control our emotion no matter how tried to do it and most especially when you saw the price is dropping, it sometimes creates panic. I can't deny this because I also have bad days in trading and even sometimes think about quitting. Now I see that we can't find assurance in trading, no matter how good you are, even you call yourselves an expert in this but losing is certainly can never be avoided.

darewaller

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Quote from: tygeade on May 06, 2021, 05:52:27 AM

Self control will lead us to consistent profits and I agree that controlling ourselves in terms or emotions is not possible when we are newbie in trading.

Consistent profit is something, every trader is always dreaming about. Because, even I am into trading for years, I could not manage my emotions effectively. Market conditions are too powerful to deceive any trader regardless of their level of knowledge and level of experiences. So, always trading within safer limits will help anyone to make some profits rather than aiming for bigger things. I was targeting consistent profits before but later I have changed my mind as even profits are better than finishing a day in losses.

lablab03

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Well for me we need to understand their decision because maybe they gained enough during the bull trend and they don't want to risk it again which incase the market plunges back, And those corrections that we experienced previously after the good pump is probably the reason why they sell off immediately because of doubts that what if it will become worse again and can cause losses.. I've been there on that kind of situation so it's not trustworthy any more when you have enough profits.. Grin

tygeade

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Quote from: Obito on May 03, 2021, 06:58:01 AM

I hope that the quick rich mindset is going to be forgotten by these newbies because it is a poison that makes them stupid and fidgety when involving themselves in crypto. My way of relieving my panic when something happens is that I think that this situation is going to get better soon and I just concentrate on that thought and it helps relieve little by little.

Trying to be quick rich kind of mindset definitely ruin ourselves in trading because that is the core reason why I traders are becoming greedy and keep modifying their target level. Whenever we are not following our technical things but listening to their emotions then that will definitely lead to losses. Only when you are not giving any room to our emotions which can be panic or greediness or aggressiveness then we can make easy profits of the crypto market even in high volatility conditions.

Self control will lead us to consistent profits and I agree that controlling ourselves in terms or emotions is not possible when we are newbie in trading.

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