Emotion and Trade? - page 12. | Bitcointalksearch.org

Wiwo

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Quote from: mk4 on March 01, 2023, 02:24:41 AM

While emotional control is great, you can have top-tier emotional control over your trades but in the end, you're still a bad trader if you don't know how to trade in the first place.

Agree with you on that, first thing a trader should develop is knowing how to trade because that is the first and primary thing placed above emotional controls and all the other good features that make a good trader.

-the first thing is to develop good trading skills and there after work on the level of emotional control and subduction.

Flexystar

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Quote from: Sakanwa on March 01, 2023, 01:13:07 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?

Once can really start with segregated funding's to avoid any emotional damages during the trend. This is best advice for those who are not able to keep up with the "emotional trading", meaning someone who is trying to recover the losses by putting more money into the trading and on the process loosing more and more. Now, usually such people should start funding the trading accounts with limited amount of money. This should be defined by the money which is leftover after all the expenses (required one) and savings combined. This way even if someone loose it one should not be worried about it.

Never try to recover what's lost in the process but yeah should try to cover the losses in next slot of trading after account is funded by calculating the above formula. That is expenses + savings - left over money.

Quote from: tbct_mt2 on March 01, 2023, 11:33:24 AM

Quote from: Sakanwa on March 01, 2023, 01:13:07 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.

Before you trade, you must control a few things.

- Capital you use for trading. If you fail to control it and assume you use all money you have for trading, you will easily lose control on other things.
- Your time allocation for trading each day, each week. If you self limit your time allocation for trading good enough, you won't trade too much, won't look at screens, charts too much. That is good for your health and emotion control.
- Control your emotion is difficult and it should be supported by your orders like stop loss, stop limit order. When you fail to control your emotion, those orders help you.

Correct. Over the period of time one may get trained for it but since we are humans and we love money, the possibility of getting stuck over our profits could be always at peak of the mountain.

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Quote from: Sakanwa on March 01, 2023, 01:13:07 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 someone has the power of controlling emotion that does not mean the person is a good trader. But yeah emotion is one of the important things that should be controlled by a trader. As Wapfika said traders must know the technical things besides controlling emotion to be profitable.

Btw at the end, you can not win the 100% game. Win-lose is also a part of Trading. Knowledge and some other things like emotion controlling power just help to reduce the loss chances.

Wapfika

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Quote from: AnonBitCoiner on March 01, 2023, 12:53:36 PM

If a person control emotion but fail to get profit then may be he Don't know yet that how to do it and may be he Don't use such strategies which is helpful in getting good results. With controlling emotions A person should also have accurate Knowledge and functional skills to operates and get desired outcomes.

Greed is also a negative aspects on profit and for obtaining victory you should must have to hold a coin which is less volatile and have greater ability to boost in value. Instead of controlling emotion there are also number of others keys that can give you huge cashback.

In fact market is highly fluctuated so there will also be fruitful results as well as harsh results so it matters a lot to hold a beneficial token rather than participating in day trading. For success it also matters that what type of trading you are involved in so holding is wise choice for achieving fruitful goals.

It will be better if we know how to trade technically so we will not need to wait for long to the market to recover. Day traders somehow able to earn still despite the drop of prices. It may affect our emotion too much when we do day trading but trading regularly can exercise our skills and emotion in controlling ourselves. Overtime we will discover things we need to learn and on how to be able to get profit thru trading. Though it indeed requires skills and budget to be able to start to learn in trading but through practicing as well trying to truly trade will be the start for us to know what techniques work best on us.

AnonBitCoiner

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If a person control emotion but fail to get profit then may be he Don't know yet that how to do it and may be he Don't use such strategies which is helpful in getting good results. With controlling emotions A person should also have accurate Knowledge and functional skills to operates and get desired outcomes.

Greed is also a negative aspects on profit and for obtaining victory you should must have to hold a coin which is less volatile and have greater ability to boost in value. Instead of controlling emotion there are also number of others keys that can give you huge cashback.

In fact market is highly fluctuated so there will also be fruitful results as well as harsh results so it matters a lot to hold a beneficial token rather than participating in day trading. For success it also matters that what type of trading you are involved in so holding is wise choice for achieving fruitful goals.

tbct_mt2

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Quote from: Sakanwa on March 01, 2023, 01:13:07 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.

Before you trade, you must control a few things.

- Capital you use for trading. If you fail to control it and assume you use all money you have for trading, you will easily lose control on other things.
- Your time allocation for trading each day, each week. If you self limit your time allocation for trading good enough, you won't trade too much, won't look at screens, charts too much. That is good for your health and emotion control.
- Control your emotion is difficult and it should be supported by your orders like stop loss, stop limit order. When you fail to control your emotion, those orders help you.

Lorokan

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Quote from: Sakanwa on March 01, 2023, 01:13:07 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?

As a trader in crypto currency; you need to put yourself and emotions under total discipline and control; such that you make the correct decisions with regards to trading 90% of the time, this way you can make more profits than losses.

Here, you can read my short notes on The right mindset needed for all traders .
The fundamentals will help new traders all the time if perfected

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

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

Nothing wrong with the person that has his emotional controlling the direction of their trade. The trader is not experienced. Experience has alot to do with our trading experience. A mature trader who has been through the ups and downs of trade understands the movement of trade and is not scared even when things go wrong for them and know what to do professionally rather than allowing the emotion to have a better part of them.

Quote from: Sakanwa on March 01, 2023, 01:13:07 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?

This kind of trader is an inexperienced trader. It is an inexperienced trader that falls prey to emotions.

coinerer

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Trading is a business of patience. If one panics here or trades with emotion then his loss will be more than his profit. If someone trades with emotions then he is not a professional trader he is still a Noob. Because trading cannot be done with emotions. The most important thing for trading is to learn technical analysis and be able to do the right analysis. Those who are successful in trading are those who can do technical analysis properly.

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If you are still experiencing defeat, you must be able to calm yourself down; maybe getting out of the market for a while can make you calm. That's what I've been doing for a long time because it could be that when I analyze, my mind can't focus and cause me to analyze incorrectly, leading to losses. You can try it and maybe it can help you control your emotions.

My advice might be as I said above, because it can at least help divert the frustration we experience because of losses in trading. But that's just a suggestion and you should try to find a way to calm yourself down.

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The only way to trade successfully is to control your emotions hope greed, fear and regret are four emotions that are related to traders. These emotions must be suppressed in order to be satisfied and successful after conducting extensive research, mechanizing the business process is the most effective method of controlling emotions. Mechanization here refers to mechanizing the trading action instead of relying solely on tools or software.

nara1892

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We don't have to completely eliminate emotions, because isn't a calm situation in our minds an emotion. But the emotions referred to here are emotions that will make us act out of control. That's really what must be avoided, because once we are in a situation like that, we will lose a lot of losses. As traders we have to know when we have to enter and when we have to get out, I mean when our situation is suitable for trading, and when we have to get out when we experience losses and when we profit (don't be a greedy person) to get more profit than what we got at that time.

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Quote from: Sakanwa on March 01, 2023, 01:13:07 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?

Maybe traders like that are traders who are unlucky in the trading journey he does.
Not intending to exaggerate, but I with minimal trading skills never continue to a loss. In the process of trying to learn some trading techniques, there will indeed be more losses. But that will not continue to happen successively.
If there is something like that, maybe he should review the trading strategy used. If someone can control his emotions in trade, he should not be a beginner in trade.

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Quote from: Sakanwa on March 01, 2023, 01:13:07 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?

Don't trade over emotions because you can take risky action because of that and you can take good trades especially when you are scared or even bothered with some situations that might possible to happen.

Focus to trade base on your analysis or skills since this will put you on more clear path towards creating good decisions on your possible trades. This is long path to learn so try to get experience since it can help you shape up to became a better trader.

John Abraham

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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.

Cryptomiles1

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Quote

In the absent of lost of greed and you fully dedicated your self to trade without having greed and not having double thought of what you earn or lose what else do you think can make a trader loss focus and get himself to loss.

First you have to edit your post and unquote your post..
Mate there is nothing to argue about, I just expressed my own side of understanding and views relating to what op said. So you chose whatever you think is the reason.

Sakanwa

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This is pure wrong, why people lost money while trading is a result of greed.

In the absent of lost of greed and you fully dedicated your self to trade without having greed and not having double thought of what you earn or lose what else do you think can make a trader loss focus and get himself to loss.

armanda90

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Controlling emotion in trading is most important for getting good management when earning profit or facing loss and need decision what have to do with stop loss or keep continue holding until back to higher price. Many trader loss their opportunity to earn profit because out controlling their emotion actually with future trading.

I think with spot trader they can manage well with emotion and earn profit can manage well, but when you try with future trading you loss emotion controlling actually when position loss and try investing back without smart research about which one position have opening between short or long.

Cryptomiles1

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One must be emotional prepared or greed free before venturing into trading why because at the point of trying to make out ways of increasing your trading target or budget for the day or for the week per months you ends up losing funds at this point we apportioned it to be an emotional feelings. This is pure wrong, why people lost money while trading is a result of greed, anyone who can control greed can equally avoid emotional feelings being attached while trading.

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Quote from: Maus0728 on March 01, 2023, 02:31:37 AM

Maybe try turning off the PnL indicator. That way, you can focus on what has been drawn to the chart and stick to your trading plan as religiously as possible. You see, most of the time traders exit their trades based on a positive or losing percentage shown on their PnL.

Sure this maybe difficult at first but having to trade based on your technicals and not on your PnL could give you an edge among other traders not only when it comes emotional side of things but also in creating a repeatable and profitable trade in the long run.

I have opened positions before that I will start to lose in a way that I will think that nothing good can come out of it again, but in a day, two or three days, the market will just come my direction and I will gain. That was when I knew that leveraging which can make someone to close trade very fast or leading to liquidation is not good. I think this is what you are talking about, that not all trades that first go against the position you opened that may not lead to a profit but later lead to profit. I understand, that is correct.

But that should not be a good reason to disable PnL, I do not think that is even possible on exchanges. I have used more than 7 exchanges before but I did not noticed that, maybe because I do not see it usefulness though because PnL makes traders to know fast the amount of money they have gained or lost. If low leverage is used and going for a good coin like bitcoin, no problem.

If you want to disable PnL, then why trading at all, knowing the PnL in trading is very important. People that I do see this can encourage are holders, people that do not want to sell for over long period of time, it is good for that kind of people not to look at their wallet or they should disable the fiat estimate, that is possible on many wallets.

Topic: Emotion and Trade? - page 12. (Read 1463 times)