Emotion management is one of the key to successful trading.

strunberg

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Quote from: cryptofirm on July 01, 2020, 05:40:21 PM

Quote from: mersal on July 01, 2020, 02:08:56 PM

Most people let their emotions drive the market which the main reason why people keep losing their money from trading.So controlling our emotions is the key to be a successful trader but how can we do is the real task in it.Staying away from trading too often in short time frame can be a good choice to avoid our emotions to be getting into our trading decisions.

thats right ,
and in my opinion maybe trading in higher timeframe could be one from many way to control our emotion my friend for example daily chart

daily trading will make emotion really played by market, in short time market could dumped and pumped extremely so when our emotion unstable maybe it could be panic and sold everything they have. personally i am ever in this position and get much loss , but now it be our experience so in future i could do better.

shoreno

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Quote from: suryana on July 04, 2020, 12:38:06 AM

Quote from: strunberg on July 03, 2020, 11:29:08 PM

daily trading will make emotion really played by market, in short time market could dumped and pumped extremely so when our emotion unstable maybe it could be panic and sold everything they have. personally i am ever in this position and get much loss , but now it be our experience so in future i could do better.

Of course, daily trading often makes us emotional because we have to constantly monitor market conditions every day and of course it makes us bored, especially if our coins have not been sold or even lost, then I think it will make us emotional. We should still be calm, don't panic, because panic will make you more emotional.

and who said you are going to monitor the market more oftenly when you do daily trade ? its only up to you if you will do it or not but some experienced trader already knows what to do .

monitoring the market does not make you feel emotional but emotions comes out depending on your personal life outside the crypto market and they can affect your crypto trading experience . you said being bored is bad but also said panicking is not right too , so what side can we fit in ?

suryana

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Quote from: strunberg on July 03, 2020, 11:29:08 PM

daily trading will make emotion really played by market, in short time market could dumped and pumped extremely so when our emotion unstable maybe it could be panic and sold everything they have. personally i am ever in this position and get much loss , but now it be our experience so in future i could do better.

Of course, daily trading often makes us emotional because we have to constantly monitor market conditions every day and of course it makes us bored, especially if our coins have not been sold or even lost, then I think it will make us emotional. We should still be calm, don't panic, because panic will make you more emotional.

IamAltcoinfan

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Quote from: doctor877 on June 21, 2020, 08:50:19 AM

Trading requires having a solid guidlines and discipline. One of the hardest thing to overcome in trading is emotions because it mostly lead to many losses. This is a bigger problem than trade going against you. An important thing is to only trade with what you can afford to lose, accept that trading is not getting a quick rich scheme. When you deposit money on an exchange, you accept losing it all but also you’ll do your best for it not to happen knowing how much it will take for you to get that money. Fix your risk per trade percentage and don't go all in a trade with your full capital. Do not be pushed to increase your trade stake when you are in profit to maximize it or recover your losses. This is the emotion that you should curb to make it in trading.

I completely agree based on emotion I kept lots of token or coins without sellers my got long time now it’s value is nothing best example is dimcoin it’s vslue is literally nothingn also disappeared from the exchanges . Even some other coss , camp , dropil all of these had working platform and active team . These coins or token became nothing all of sudden one day . Do emotion as well as trust doesn’t work in trading .

Horionion

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You just hit the point. Emotion a lot of people their hard earn money. Most of the time we lost not because we cannot make profit but because we cannot control our emotion. Emotion is killing if not put under check. Don't goninto trading if you are emotional.

bigcash2011

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Quote from: doctor877 on June 21, 2020, 08:50:19 AM

Trading requires having a solid guidlines and discipline. One of the hardest thing to overcome in trading is emotions because it mostly lead to many losses. This is a bigger problem than trade going against you. An important thing is to only trade with what you can afford to lose, accept that trading is not getting a quick rich scheme. When you deposit money on an exchange, you accept losing it all but also you’ll do your best for it not to happen knowing how much it will take for you to get that money. Fix your risk per trade percentage and don't go all in a trade with your full capital. Do not be pushed to increase your trade stake when you are in profit to maximize it or recover your losses. This is the emotion that you should curb to make it in trading.

I have tried to trade different markets but to be honest you just cannot put emotions to a side and i have noticed that as soon as you enter a trade a good level of stress surrounds you and you literally start checking price every minute which is not a great thing for that reason i have switched to crypto market where we can just invest and hold good coins and wait for market to give us good results.

pixie85

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Emotions make us human, you can't turn them on but you can come pretty damn close in trading if you know what to do.

The key is to not worry about money.

If you were playing with 10 USD when you have 10 thousand in the bank, would you be scared? Make sure you're playing with money you got as profit, money you're ready to lose and you will be less emotional about it.

Yatsan

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I guess it is because there is no good decision that can be made from being too emotional or being not able to handle too much emotion towards a thing that can just lead you into creating impulsive decisions that can surely affect your future actions.

As we all know, doing trading can make you feel a mixed up emotions because even you can see the flow of prices, still it is unpredictable on where and how the prices will behave so many people fall for getting into the wrong path of decision making maybe driven by too much excitement or impulsive decision because of tiring loss they get on what they think doing early or late decisions because of the outcome they have seen.

If you are experiencing emotional breakdown while doing trading, better be calm for a while and do not let your emotional imbalance to lead the way you think because you might just get stuck into creating wrong decision which you might regret once outcome sprout out in a bit. Having a healthy mind and extracting your emotions on doing trading which is logical, can somehow help you on doing trades. But still expect a matter of loss because it is still a part of the process of doing trading.

gwaposakon

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Quote from: doctor877 on June 21, 2020, 08:50:19 AM

Trading requires having a solid guidlines and discipline. One of the hardest thing to overcome in trading is emotions because it mostly lead to many losses. This is a bigger problem than trade going against you. An important thing is to only trade with what you can afford to lose, accept that trading is not getting a quick rich scheme. When you deposit money on an exchange, you accept losing it all but also you’ll do your best for it not to happen knowing how much it will take for you to get that money. Fix your risk per trade percentage and don't go all in a trade with your full capital. Do not be pushed to increase your trade stake when you are in profit to maximize it or recover your losses. This is the emotion that you should curb to make it in trading.

Discipline is very important to become successful in cryptocurrency trading. With discipline, you can control your emotion even with the rise and fall in the price of the cryptos you are holding and make you focus on your target trading prices. But experience will help you develop discipline. overtime you will develop it.

isaac_clarke22

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Quote from: doctor877 on June 21, 2020, 08:50:19 AM

Trading requires having a solid guidlines and discipline. One of the hardest thing to overcome in trading is emotions because it mostly lead to many losses. This is a bigger problem than trade going against you. An important thing is to only trade with what you can afford to lose, accept that trading is not getting a quick rich scheme. When you deposit money on an exchange, you accept losing it all but also you’ll do your best for it not to happen knowing how much it will take for you to get that money. Fix your risk per trade percentage and don't go all in a trade with your full capital. Do not be pushed to increase your trade stake when you are in profit to maximize it or recover your losses. This is the emotion that you should curb to make it in trading.

Your emotion lies on you especially depression, that's why rationality comes in place at these times especially in trading.
The thing is some people have different mindset in trading.
Some bring their emotions and some do not.
Some invest funds that's worth losing and some, at worse, even do loans just to do panic comeback to their trades.

ethereumhunter

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Emotion will be the biggest problem for every trader because without having emotion management, traders will get a trap to buy when the price is at a peak, and they will lose the chance to sell at another high price. Or the trader can get another trap by panic selling because the market can move to any price. We need to learn how to control the emotion so we can stay calm in any conditions, and we can get the time to trade without interfering of the emotion.

maxreish

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Quote from: doctor877 on June 21, 2020, 08:50:19 AM

Trading requires having a solid guidlines and discipline. One of the hardest thing to overcome in trading is emotions because it mostly lead to many losses.

Our body emotions naturally react especially when we are losing.
For example; We win 20% of fund but the other side of your mind wanted to win more so you trade again and you lose 30-50% of your balance (GREED).
Another one; You are not focused and lose your original plan and distracted because you are eager to compensate the losses in just one trade and then you enter the wrong entry and lose more (PANIC, fear and Distruction).

Emotions can actually be controlled. We just have to grip on that strong determination and strong mindset. In reality, our emotions is our enemy and prevent us to trade successfully but setting emotions aside will be a great help to focus on our goal.

cryptofirm

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Quote from: mersal on July 01, 2020, 02:08:56 PM

Most people let their emotions drive the market which the main reason why people keep losing their money from trading.So controlling our emotions is the key to be a successful trader but how can we do is the real task in it.Staying away from trading too often in short time frame can be a good choice to avoid our emotions to be getting into our trading decisions.

thats right ,
and in my opinion maybe trading in higher timeframe could be one from many way to control our emotion my friend for example daily chart

adzino

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True. Emotion does play a huge role on your trading success. Those who take decision because of some "emotional" stance, they would likely be taking a wrong decision.
Like one might see the price dip a little, or make a small loss, and they end up getting scared or hurt and take decision while panicking. This will further cause them to suffer more losses.
Though this is how they start learning. There are people who realizes that they made a mistake by not managing their emotion, which then they try not to repeat in the future.

mersal

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Most people let their emotions drive the market which the main reason why people keep losing their money from trading.So controlling our emotions is the key to be a successful trader but how can we do is the real task in it.Staying away from trading too often in short time frame can be a good choice to avoid our emotions to be getting into our trading decisions.

BitcoinTurk

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One of the biggest factors of losing money while trading is trading without knowledge and the other is not being able to control our emotions. It is possible to easily say that our feelings rule us badly and that we lose money due to our feelings, especially when we are losing and losing our feelings. In addition, it should not be forgotten that trade is never an emotional approach and the investor who acts emotionally in trade is always doomed to lose. So the best advice I can do is to control your emotions well when trading and not to emotionally link to any transaction.

Jating

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Quote from: doctor877 on June 21, 2020, 08:50:19 AM

Trading requires having a solid guidlines and discipline. One of the hardest thing to overcome in trading is emotions because it mostly lead to many losses. This is a bigger problem than trade going against you. An important thing is to only trade with what you can afford to lose, accept that trading is not getting a quick rich scheme. When you deposit money on an exchange, you accept losing it all but also you’ll do your best for it not to happen knowing how much it will take for you to get that money. Fix your risk per trade percentage and don't go all in a trade with your full capital. Do not be pushed to increase your trade stake when you are in profit to maximize it or recover your losses. This is the emotion that you should curb to make it in trading.

Yes you are right, specially for newbies, it's really hard to control our emotions when trading, specially when you see that your portfolio is going down very fast because of the dump, and you think that you are going to lose so you push the sell button right away.

That's why it is really important to learn how to manage and mitigate risk specially in crypto. Having a good entry and exit plan, stop-losses etc. And remember that crypto trading is like a marathon, so you need to be emotionally tough so that you can stay longer in the game.

Yamifoud

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Quote from: Kasabus on June 24, 2020, 06:50:13 PM

Quote from: kawetsriyanto on June 21, 2020, 06:44:21 PM

snipped...

Yes. Controlling our emotions may be easy to say but hard to do but it's not the only reason why traders end up successfully. Traders should also learn how to be smart in dealing with all the negative consequences in trading because if not, it will all fall into losing our money even how hard we try to control our emotions.

Absolutely, and this is quite normal for humans not unless if you have no feeling at all (but impossible).

But anyway, it is all about how we think right and how we make decisions. We can't actually guarantee that we can control our emotions but in a way that we have to think multiple times before we decide.

Not we are saying is a key to become successful in trading but it is has a big influence and it might be a reason for both failure and success.

Quote from: Jawhead999 on June 21, 2020, 11:07:40 AM

Wrong board, move to Trading Discussion board

Agree and Hope OP could move this or MOD.

Rengga Jati

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The worst enemy when trading is "yourself". This is what I always remember when trading. We may be able to analyze the market, control our funds, but we may sometimes not control our mental and emotion so that we can be lost because of our greediness, panic, worries (fear and also nervous), and also uncertainty.
I ever read about good sentences:

Quote

Analyzing the markets and having a good background for each trade that you’re taking can make wonders in controlling your emotions. The more you actually research the markets, the less you have a gambler’s mentality. This will also help keep your emotions under control.

It means that learning by doing, more experiences will make us much better in managing our emotions, mental, funds, and also diversity.
Sometimes, what makes us lose our emotion management is the reality doesn't meet the expectation. We may be sure that we will win and get a lot of profits this time, but the fact is that the market changing so easily and we lose it.

Whereas, there are some terms that are very influencing in trading:
- Fund management
- Emotion management
- Risk management
- Mind matters

everyone will change and be better if they do more trading..

Source:
https://www.dailyfx.com/education/trading-discipline/manage-the-emotions-of-trading.html
https://www.mytradingskills.com/trading-psychology#:~:text=Analyzing%20the%20markets%20and%20having,keep%20your%20emotions%20under%20control.

coinswebid

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Quote from: drumamat on June 21, 2020, 10:18:11 AM

Complete agreement. Managing emotions is most likely the main aspect for successful trading. Without being able to control your emotions, it will be impossible to earn money.

yes, if we can control our emotions when we trade
for sure we will discipline in our money management too
thats will be good for us, because we can manage the risk in our trading activity

Topic: Emotion management is one of the key to successful trading. (Read 429 times)