Emotion and Trade? - page 10. | Bitcointalksearch.org

maydna

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Quote from: bitgolden on March 02, 2023, 04:25:51 PM

Quote from: maydna on March 02, 2023, 06:46:26 AM

Quote from: worle1bm on March 02, 2023, 06:02:06 AM

If you are trading with emotions then you can face loss as it's hard to make decisions in these cases which is why it's advisable set aside your emotional behaviour while trading.You need to control it which you will learn with experience over time like sometimes it's hard but if you have knowledge and skills then you can handle situations well in comparison to some emotional trader who get excited or panicked easily.

We must learn how to control the emotions that will arise when we trade so that whatever circumstances we experience in trading will not trigger excessive emotions. In addition, by learning to control our emotions, we can calmly analyze the market and find ways to adapt to the moving market. We can also determine what attitude we should take about the market so that we will not rush to enter the market if our analysis is not finished. With increasing trading experience, it helps us to improve our analytical skills and if accompanied by calmness in analysis, it will give different results than before.

That's the goal, but not easy for everyone involved unfortunately. I agree that emotions are a damage to our trading talent and whenever they are involved we get a bit of a trouble in the end, so we should leave them by the door before we go into trading. I get that it is not going to be a big deal that quickly, I know that it is going to take a bit of a time, but when the time comes we are going to learn how to do that slow by slow.

This is why I believe that we shouldn't really be expecting much from newbies because they haven't learned it yet, but for the people who have been around long enough, they should be able to separate emotions and trading.

If we want to learn to control our emotions when trading, we can trade with calm, especially when we want to analyze. Analyzing it really needs calm so that we can see the direction of the line or pattern that is happening on the market and determine what to do. But indeed, controlling emotions requires time and experience so that we can easily control emotions and for that, we must study harder than other people.

Besides that, learning to trade also takes time because there are lots of trading lessons and we won't be able to master them in a short time. It takes hard work and willingness to be able to master every trading lesson and be able to analyze it well. And it deserves to be done by people who are successful in trading.

crwth

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Once you have accepted that you tend to be emotional, you will go over it and be a better trader. There's no perfect person that always does the right thing and always knows how to control others unless you are a very experienced person.

What is required of the trader is that you know how to deal with the following.

Risk management
Understanding of the market you are involved in
Emotion control

lienfaye

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

*What else is required for such a person to control,is it still his or her emotions or what next?

Well, it's really important to control our emotions when we trade because it can influence our decision making. But it's not only the basis to succeed as a trader, you need knowledge, plan, strategy, risk management and know how to make your own analysis so you don't have to rely to anyone.

Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Learn to improve yourself as a trader and don't be greedy to profit. Set aside your emotion because it's not good to decide base on what you feel. There should be a valid reason for every decision that you'll choose.

Zilon

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Knowing the basics of trading is never enough. If a trader has a control of their emotion and also create room for steady upgrade of strategy there is no how his/her profit won't be greater than the loss. All traders experience losses but what makes a better trader is the ratio of profit to loss.

Knowing when to exit a trade be it in profit or loss is another advantage a good trader will have. Trading is a skill and as a skill perfection and full mastery takes a long process of consistency and dedication. The better one becomes with trading they more they understand they need more room for upgrading. A good trader is a consistent reader.

Oceat

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If you think it's that easy to trade because you know the basics, think again. You still need experience of how trading works or how most of your strategy will work because if you keep doing what you are doing right now. You will continue to lose because you never learned where you fail to understand. But don't worry it will pay off at the end of the day if you learn everything through failure.

It will take some time to become a master trader but it usually pays off. All you have to do is continue so being persistent is a must but be wary to everything you do because it reflects everything you do now in the future.

nurilham

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

Trading isn't only about how to control emotion, you need to have sufficient knowledge and understand the market trend. If you have no knowledge and don't understand the trend change in crypto market, controlling emotions will be nothing/useless. Knowledge is the first thing to have, it is more important than controlling emotion. However, even if you have good knowledge and the ability to control emotions, it still can't guarantee profits. You also need the experience to know an appropriate strategy to use. So, there are many things to have, to optimize the chance of getting profits.

Johnyz

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Quote from: Bestdss on March 02, 2023, 01:31:54 PM

To be successful with your trades I guess the big deal is to learn how to control your emotions which boils down to greed. No matter how good you are with risk management and the right strategy to use in your trades, if you are greedy or if you are a greedy person you will keep loosing.
So if you are day trader and decides that your daily profit is $10 or mid term trader and decides your profit limit should be $100, once you hit that, end ur trade and rest, when you add emotions / greed you will have the urge to cross your limits and might as well loose in the end.

Emotions are being abused while in trading though we cannot fully avoid this one but if you know how to be more responsible and be more focus with your strategy, then that emotion can be your friend. The market sentiment affects the behavior of every trader, if they saw an opportunity to buy they become more greedy up to the extent of not doing their analysis anymore which is a bad practice after all. Trade with a plan, stick to that and adjust accordingly, don’t just trade without having this.

Kelvinid

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Quote from: Hyphen(-) on March 02, 2023, 01:59:23 PM

Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Emotional control is one of the most important things a good trader requires; if a trader has patience, he can achieve great things including good profit; because crypto trading is one of the riskiest tradings in which one can lose his/her entire wealth in a few seconds with a single mistake, adequate knowledge is required coupled with patience in order to be a successful trader.

It is a must in trading and we make a habit to become strong in whatever happens in the market.
Traders usually fail because they are impatient and most of them think that losing not gonna happen in trading that is why they are very confident about themselves but when the crises come and the price dumps, this gives them a challenge on how to control their emotions and many had quit from it. They let their emotions run over them and make decisions badly.

Cling18

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

One of the qualities of a good trader that we should acquire is the ability to control our emotion. Being too emotional when trading could only lead into wrong decisions. We will just have a hard time focusing if we are on a bad mood or having different emotions so it will be better to trade relaxed. It's fine to feel upset and disappointed if ever we fail but it will be better to rest for a while and trade again when we feel relieved. It's how we handle our emotions that matters.

bitgolden

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Quote from: maydna on March 02, 2023, 06:46:26 AM

Quote from: worle1bm on March 02, 2023, 06:02:06 AM

If you are trading with emotions then you can face loss as it's hard to make decisions in these cases which is why it's advisable set aside your emotional behaviour while trading.You need to control it which you will learn with experience over time like sometimes it's hard but if you have knowledge and skills then you can handle situations well in comparison to some emotional trader who get excited or panicked easily.

We must learn how to control the emotions that will arise when we trade so that whatever circumstances we experience in trading will not trigger excessive emotions. In addition, by learning to control our emotions, we can calmly analyze the market and find ways to adapt to the moving market. We can also determine what attitude we should take about the market so that we will not rush to enter the market if our analysis is not finished. With increasing trading experience, it helps us to improve our analytical skills and if accompanied by calmness in analysis, it will give different results than before.

That's the goal, but not easy for everyone involved unfortunately. I agree that emotions are a damage to our trading talent and whenever they are involved we get a bit of a trouble in the end, so we should leave them by the door before we go into trading. I get that it is not going to be a big deal that quickly, I know that it is going to take a bit of a time, but when the time comes we are going to learn how to do that slow by slow.

This is why I believe that we shouldn't really be expecting much from newbies because they haven't learned it yet, but for the people who have been around long enough, they should be able to separate emotions and trading.

milewilda

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Quote from: Hyphen(-) on March 02, 2023, 01:59:23 PM

Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Emotional control is one of the most important things a good trader requires; if a trader has patience, he can achieve great things including good profit; because crypto trading is one of the riskiest tradings in which one can lose his/her entire wealth in a few seconds with a single mistake, adequate knowledge is required coupled with patience in order to be a successful trader.

But this is something that you cant really just able to make it out or handle because this would really be making you that able to face up lots of unfortunate events first before you could able to mold up that kind of control which is something that normal because there's no way that you could really be able to handle yourself on different situations if you dont really have that actual experience.We are just human beings on which
emotion and any reactions would really be that common and if you are a complete newbie then getting impulsive would really affect out your entire decisions on what you are currently dealing
with which would in result into mistakes and errors.

Hyphen(-)

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Emotional control is one of the most important things a good trader requires; if a trader has patience, he can achieve great things including good profit; because crypto trading is one of the riskiest tradings in which one can lose his/her entire wealth in a few seconds with a single mistake, adequate knowledge is required coupled with patience in order to be a successful trader.

Bestdss

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To be successful with your trades I guess the big deal is to learn how to control your emotions which boils down to greed. No matter how good you are with risk management and the right strategy to use in your trades, if you are greedy or if you are a greedy person you will keep loosing.
So if you are day trader and decides that your daily profit is $10 or mid term trader and decides your profit limit should be $100, once you hit that, end ur trade and rest, when you add emotions / greed you will have the urge to cross your limits and might as well loose in the end.

_BlackStar

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Quote from: Awaklara on March 02, 2023, 03:03:01 AM

traders who are quite able to control their emotions in trading, I'm sure are not beginners who will panic when they see trades that are not according to plan.
the patience you mean is also part of emotional control. trading will rely more on skill and experience. and the more experienced a trader is, the colder he will be when planning his trades.

Experience, knowledge and cold attitude of traders are only formed differently from one trader to another.
Many experienced traders are also impatient when they see profits, as well as when they see losses. If they had to be patient enough I don't think they would just trade, they would just invest and hold for the long term.

Quote from: Awaklara on March 02, 2023, 03:03:01 AM

just believe, when we have tried in the trading we do. then whatever the actual result we will not always get what we want. Losses will come, but they won't be continuous.

Yes, I agree with you. But when their mindset changes about long-term investment potential, then I think they're just going to become more patient people about their investment management.

GeorgeJohn

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Trading is not all about emotions, from my understanding Trading is all about your experience towards it, because it has to do with skill and the skills of Trading is something that do with understanding, you emphasising on emotions is typically have to do with a person that knows the rudiments of Trading, so therefore I haven't see emotions as a barrier behind the success of Trading, because before you excel in Trading you have to acquire the knowledge.

isaac_clarke22

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

~

What else is required? If you can handle your emotion, you should be able to pad your emotions with your own reasoning and that would surely help you in the long run in trading. Reasons over emotion, right?
It is not just all handling emotion in trading.

I would say those kind of person are simply a little bit of inexperienced. It takes quite a while to get used to trading and it might not even be for you like me. My advice for that kind of person is test the waters if trading is really for you first. It is entirely okay if you just go hodl either way like me.

RockBell

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Quote from: worle1bm on March 02, 2023, 06:02:06 AM

If you are trading with emotions then you can face loss as it's hard to make decisions in these cases which is why it's advisable set aside your emotional behaviour while trading.You need to control it which you will learn with experience over time like sometimes it's hard but if you have knowledge and skills then you can handle situations well in comparison to some emotional trader who get excited or panicked easily.

The majority of people find it very difficult to understand when to trade and when to hold, which is another major issue people have when it comes to cryptocurrency. Doing your own research and acquiring materials on trading can help and keep you at ease when it comes to money, and cryptocurrency is not for the weak but you can always build yourself. how phycology is built on fear so any bad news in the market is not as favored as what next is to sell.

beerlover

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Quote from: John Abraham on March 01, 2023, 06:48:57 AM

Emotion and Greediness are both harmful to traders. But, Both are part of human nature. You have to control yourself from emotions and Greediness. These two things can make you lose. Suppose you are at a loss; your feelings will force you to trade more in the hope of recovering the loss, even if you know that you might lose again. You have to control it and do research before you open another position.

Even if you are at a profit, greed will force you to open another position like before, in which you made some profits. You have to understand that the same strategy doesn't work all the time, and if you are a trader, you already know that.

So, I would say, You have to have control over your two human nature; Emotions and Greediness. Rest depends on skills.

I agree that it is going to cause a bit of trauma to people if we keep saying that they shouldn't really feel what they feel. If you feel greed, or fear, or happiness, or excitement or whatever, if people are telling you to "not feel them" do not understand it as try to not feel anything.

The logic is that you are going to feel these no matter what, we are all humans and we feel, the point is that you should be trading as you always do without putting these feelings into consideration. Just because you are greedy, doesn't mean be greedy when trading, have different points in time when you feel greedy and that would be a lot better for you in the end.

AicecreaME

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

If you're still losing most of your trades even though your emotions are under your control, maybe your knowledge about trading is still not enough to make most of your trades profitable. It is also important to know when to stop or continue, because continuing trading even though you know for yourself that you're not getting anything is just nonsense. Take a break, clear your mind, breathe some fresh air and restart all over again. Don't limit yourself from learning, keep on growing, and don't expect too much if you're just a newbie trader.

Natalim

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Quote from: Sakanwa on March 01, 2023, 12:13:07 AM

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Emotions can be found normal to human beings, which is why we are more special than these trading bots.
if we think that controlling our emotions could make us more profitable, well, that is exemptional. Although we can say that emotions can ruin our plan, and can cause major losses, however, it also creates a positive impact as this could sometimes save us from losing more.

There is no need to become emotionless from trading, we are not robots but of course, never let our emotions control us and make decisions. We at least know what is right and what is wrong, and we do respond to the market with emotions but with deep thinking.

Topic: Emotion and Trade? - page 10. (Read 1555 times)