Pages:
Author

Topic: Emotion and Trade? - page 13. (Read 1463 times)

legendary
Activity: 1904
Merit: 1563
Bitcoin Casino Est. 2013
March 01, 2023, 02:31:37 AM
#5
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.
legendary
Activity: 1414
Merit: 1118
...gambling responsibly. Do not be addicted.
March 01, 2023, 02:24:47 AM
#4
*What else is required for such a person to control,is it still his or her emotions or what next?
Emotion is just one of it but not all.

Others are:

  • look for the right strategy to use
  • learn about risk management, very important
  • learn about indicators too, do not gamble with trading but learn instead
  • continue learning
  • be careful of the coins you are using, some traders are using the wrong coins and they are losing just because of that
  • do not go for profit that you do not expect loss in return that you can not cope with, do not use leverage or over-leverage. I mean use low or no leverage.

*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?
The person should continue to use low amount of money until he gets it right. The person might thought he is not having emotion, but using higher amount of money when the person is still losing is a sign of him not having control over emotion that is tempting him to use more than he can afford to lose, which is very wrong type of mindset in trading.
mk4
legendary
Activity: 2716
Merit: 3817
Paldo.io 🤖
March 01, 2023, 02:24:41 AM
#3
While emotional control is great, you can have top-tier emotional control over your trades but in the end you're still a bad a trader if you don't know how to trade in the first place.
sr. member
Activity: 1960
Merit: 273
★Bitvest.io★ Play Plinko or Invest!
March 01, 2023, 01:41:44 AM
#2
the first advice is to leave trading in advance for some time. maybe too stressful and frustrating to see trades that always lose.
then when it's ready, I think those who experience something like that need some additional knowledge related to trading. everything is always evolving, including knowledge and skills that can always be upgraded.
after all the efforts that have been made and he feels he is still getting losses, I think it's better to stop trading and try to invest. sometimes there are people who are not cut out for trading but are very lucky at investing.
full member
Activity: 434
Merit: 118
Wonder working God
March 01, 2023, 01:13:07 AM
#1
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?
Pages:
Jump to: