Topic: Emotion and Trade? - page 6. (Read 1555 times)

I always feel like making emotions out of the equation is the only way to go. We're humans, we can't help but feel emotions.

Better is to have mechanisms in place that prevent those emotions from taking control.

Better to keep discipline not as something that relies on you but that relies on system.

Example. Make sure someone else has access to your portfolio. Multisig wallets. Stop loss that you cannot change without second approval. Simple stuff like that makes you a great trader regardless of emotion.

No.
Basically, if you tried trading, you can consider yourself a trader already. You don't need to control your emotions so that you can call yourself a trader. There are many traders out there who don't know how to control their emotions, and they call themselves a trader. A failed trader.

Learning how to control your emotion doesn't guarantee you will get profit in trading. Controlling your emotion is just one of the things that you must learn if you want to be a successful trader.

I'm not a pro trader, but I guess there's nothing to control aside from controlling your emotions. Maybe controlling your capital when you are starting? You can include that as well.

If you learn how to control your emotions already, what you need to do next is to know how to read charts. I believe technical analysis really helps whenever you are trading. Don't listen too much to the news, and focus more on what you are seeing in the charts. I'm trading, and TBH there are times that I'm losing money as well, but that's ok since I'm not that good at trading though in my overall trading journey, I had more profit than losses.

I guess most here already said the things that you need to do OP if you really want to pursue trading. Learn how to be emotionless not only on trading, but on investing in general.

In my opinion, in order to control their emotions, a trader needs an interesting lifestyle. 

In addition to trade, daily walks in the fresh air, trips to other countries, meetings with friends, sex with beautiful girls, attending music concerts and art exhibitions, dancing and meditation are necessary.  An interesting and vibrant lifestyle allows you to create new neural connections in the brain.  This enables the trader to use non-standard and effective trading mistakes, avoid strong trading stress and not make mistakes. 

In my opinion, trading should be organically integrated into the daily life of a trader.  This will be the key to successful and profitable trading in the cryptocurrency market.

I totally agree with your point but sometimes emotions save you too, like when i started trading, i trade on emotions (yeah you heard right i traded totally on emotions, it was really dumb) But you know what after losing some money i came e to know if i want to do emotional trading (new word) then i have to select one token and only have to trade on it and that token must be volatile (highly) so that I could earn and loss too (hehe).

After then i started to make some profit but I was not using "Stop-Loss" When you don't use it, you have to check the market again and again as you want to make profits and when you set the stop-loss then it could decrease the chances of getting high profits but it's still in our favor to use it as sometimes your greed for more and didn't exit the market and after 2 minutes you are in a situation where you can't exit now and you are stuck with the market's sentiment.

So, my main advice for a newbie is to,

• Never do emotional trading
• Always use Stop-loss
• Do not over-trade, only trade as much as you want to earn money (don't become greedy because greed is a curse) if you will become you might lose your own money (in the future).
• Start with spot trading, and try to control your emotions, as when your friend whom you trust more than you, if he told you the market will crash you still have to control your emotions and personally analyze the market.

Further, you should trade on the basis of stats no on the basis of emotions but following emotions can save you some time. (only when it's your time).

Emotions can have a significant impact on trade, both positively and negatively. In the context of trading, emotions like fear, greed, and hope can affect decision-making and lead to irrational behavior, which can result in poor trading outcomes. For example, fear can cause traders to sell their assets too quickly, leading to missed opportunities for profit, while greed can lead to taking on excessive risks and losing money.

On the other hand, positive emotions like confidence and optimism can also impact trading outcomes. A trader who is confident in their abilities and optimistic about the market may be more likely to take calculated risks and make profitable trades. Additionally, emotions like empathy and trust can play a role in building successful relationships between traders, which can lead to increased collaboration and successful trades.

Overall, emotions are an important aspect of trading, and it is crucial for traders to manage their emotions effectively in order to make rational and profitable trading decisions. Many traders use various techniques to manage their emotions, such as mindfulness practices, keeping a trading journal, and developing a well-defined trading strategy that takes emotions into account.

Loosing in trades is not a bad thing, Infact, It is still an important part of trading. If you trade smoothly always and every day without experiencing some losses, then it simply means you've not been trading.

Professional traders still lose some of their trades at times, and it's completely normal, simply because the crypto markets is highly unpredictable, so consistent profit without any lose is not the right mindset.

It's hard to learn how to stop if trading is your only source of income. Unfortunately, business opportunities are constantly shrinking now, so trading is something you can earn remotely. So - when there is no other source of income - it's hard to cope with emotions when you realize that you have to pay bills, taxes and other expenses.

Agree since as a human being, it is not that easy to detach our emotions so it would almost always be part of our daily lives. So, in trading, emotions is always there so what we can do about it is to learn to manage these emotions. Managing emotions is important so that you can make wise decisions regarding trading and other financially related tasks. I think one crucial tasks in these is learning when to stop since if we would be able to fully manage our emotions, we can let ourselves stop when it would be the best option to do so. So, emotion really plays a big role in it so we should at least try to manage it so everything goes well in our trading experience.

At least if a trader is able to control his emotions then he must take a trading position calmly and not in a hurry. Analysis that is done calmly and not in a hurry is also the key to controlling emotions. At least a trader should know where their position is. They must also be good at reading market trends if they are traders who follow market trends. Usually the indicators used are one of them with the Fear and Greed indicator which is also one of the parts that is always used quite often by traders in analyzing market sentiment to determine whether to rank whether the hype is happening in the market. Of course this also requires a lot of information and analysis which is quite time consuming. But it is better to spend more time on analysis so that our trading success rate is higher. Instead of analyzing in a hurry which actually makes us more at risk of experiencing losses in trading.

Mistakes and errors is the best teacher and something that could really be able for you to learn or in short on making you more better.It is really just that there are people who are really that emotionally impulsive
which they do really that ending up on bad decisions in towards their trading or even on their investment.Once you do tolerate out that emotion inside you and you do just simply ignore out about
those basic trading principles then you would really be definitely be experiencing losses which it would be neither acceptable or not on your part which it would really vary on what kind of person are you.
Some are really that easily have ending up on pity into their selves and there are ones who are really that desperate and would really be going in line with the life principles which they should really proceed further.

This is why its never been ideal if you do havent that clear mind when or on the time that you do make out trades but somewhat on the time that you would be gaining experience then you would
definitely be able to make yourself be realizing on what are the things that should really be done but of course there's no assurance when it comes to success
because there are lots of factors would be affecting on the way.

Perhaps, it was like capturing the errors and seeing where we become wrong. But of course, it was not just seeing our mistakes but also considering those things that we earn a profit from and seeing what ways we're doing. It is about comparing all the things we've done and the results as well. This will absolutely help us and give us ideas about what are the things we need to change and what are the things we need to sustain.
But above all, we must also learn how to adjust and correct our mistakes - if that is because of our emotions, then must have to carry them out and control them, otherwise, we can't expect success. 

Never trade with emotions. To trade, you must have courage and confidence. There are people who come to cryptocurrency without understanding and invest in various scam schemes and end up in huge losses. And later on they become emotionally broken resulting in less enthusiasm for their investments. Those who trade on emotion must have special courage because investing always involves the desire for profit and the possibility of loss. So he needs to trade in crypto following this formula and be patient enough. there are some investors who invest without understanding but they must acquire good skills and experience about crypto to be successful in later investments.

Thats your strategy and the thing that you arent learning while you are losing , it should be per losses you'll able to know the reason why its a loss, why it goes the other way, reflect on it because it doesn't mean you win or loss in the entry you dont care at all , you should know where on your strategy makes it loss. Basically you just need to improve your strategy as well as understand what the market is giving you like if it is sideways and you strategy is on uptrend so really you'll be losing .

Sometimes it is difficult not to mix emotions with our daily life, not only in trading but in any activity, there are some people who, because they do not control their emotions a lot, give them high blood pressure, so if they do not control the emotions in trading, because it is not something so up to date, but the bad thing is that money is lost here and that is what you should avoid, the fundamentals are the different traps that are made in the markets, that is why we should not fall,for that It's good to read books to learn to figure out when it's a cheat or not.

We should always ensure that we do not mix trading wit emotions. Many traders had made this mistakes and they had paid for it in a way they never likes. Trading is not easy so we need to make sure that we do our best not to mix the time today. The problem that many traders do have is that they spend so many time using demo account and that had affected them a lot.
If we establish a good trading pattern, things will be very easy for us and we are going to make some good use of our potential.

This is where we do really be able to learnt up things along the way which it doesnt only give us the idea and knowledge but also it does help out our emotions to be in good control or simply you are really that molding yourself when it comes to this manner on which we know that being impulsive or having reactions is normal since we are just humans.

Lack of knowledge and experience is the main reason on why you would really be having these kind of reactions and actions to be made further but on the time comes where you do gain sufficient
experience then it would be gradually be changed up and you would find out for yourself that you are really that improving when it comes to this aspect.

One cannot originates emotions but it's natural and the successful trader are those who have put control on his emotions because its a big enemy which play an important role in a person's failure. One can control his emotions with investment but trading is that technology in which keep emotions in control is very hard but if a person predict that how important is it then he will really do his best to attain good outcomes.

When we talk about strategies that helps in making one to be successful in trading , so many people underestimate emotions.  Emotions is a trading strategy to make trade successful,  with all the strategy of trading without the emotion strategy trading can never come out good as expected. It is better to stop trading than to trade with emotion   that may  have negative result by the end of the trade. Emotions  in trading matters so much that traders needs to consider always.

The key to emotional control is strategy.
I view traders who lose control as lacking in strategy. Alternately, they may have had a plan but abandoned it.
Having a trading strategy and taking action on it can help you avoid making decisions on the spur of the moment that are motivated by FUD or another factor.

Check it out: those with emotional control have well-thought-out analyses, exit strategies from markets, and plans for how to handle risk effectively.

Before you start trading there are two things that you need to do and you need to master these things before you even consider using real money to trade.

First is you need to develop your self control and your self discipline. If you do not have discipline you will always trade on emotion and you will definitely lose your money by doing so.

Secondly you need to learn the basics of trading, learn how to research, read charts and candles and develop your own trading strategies and stick to them. To do this you need the first part (discipline).

Do not start off practicing trading on real exchanges with real money. There are test exchanges with fake money. Start there first.

This all sounds way easier than it really is. It took me years to develop any kind of discipline and it has cost me a lot of money. I do not recommend going down the same road as me. Now I trade somewhat successfully for a (BTC) profit but I wish I took my time to learn first.