Topic: Emotional day trading - page 14. (Read 2243 times)
I think if you want to be successful at day trading then you need to be both a fantastic analyst and also pretty lucky with your timings, also you need to be glued to a screen constantly. If you can make it work then great but that intensive activity is not for me, bounties require only a little daily effort an will pay off after a month or so.
I stopped using day trading and just buy a coin, put a stop loss and wait for about a week or more. If you grow - sell, if not - I lost only 10%. So much safer!
Easier said than done. I have also lost quite big amount in day trading. Setting aside emotions are not easy but consoling myself helps a lot. Though indicators seems happening what it shows, their are some instances that it will not go the way it used to be. Anyhow day trading is not a joke. Keep with you the beliefs that you can still get back what you lose to boost up your confidence.
To avoid large losses, you should not take risks. You do not have to deposit more than you can afford to lose on the trading platform. even if you become emotional, you are guaranteed against huge losses. IMO there's no point in suggestions to stop acting and wait as you get emotional, because it's not worth it.
I been loss more than that amount in trading, but learn from it I know my big mistake. And from this mistake I will try other new trading strategy. And hopely I can recover that my loss as soon as possible. That My big mistake is I don't use exchange that offer trigger order, and I can not monitor my open position in 24 / 7 hours so when any bad news my asset value was decrease without any cut loss functions that by automatically reduce the loss.
Do not do emotional day trading.
I have lost nearly 1500$ over one night. we think this is the best coin for day trading seeing only the chart increment percentage. then thats emotional only , no statistical investigation or research. if you do not know day please avoid from it. its better.
I have lost nearly 1500$ over one night. we think this is the best coin for day trading seeing only the chart increment percentage. then thats emotional only , no statistical investigation or research. if you do not know day please avoid from it. its better.
Thanks for sharing your experience! $1,500 is a big loss and I presume you were dealing with at least $5,000 worth of altcoins during that day. Not everyone can afford playing with such amounts, most people don't have such money in the first place. So, maybe, losing $1,500 is not a big deal for you, but nevertheless I suggest you to trade with much smaller amounts. Thus you will be able to afford even a kind of an emotional day trading you are talkng about, which is hard to avoid at all times because nobody is immune to sudden emotions.
Do not do emotional day trading.
I have lost nearly 1500$ over one night. we think this is the best coin for day trading seeing only the chart increment percentage. then thats emotional only , no statistical investigation or research. if you do not know day please avoid from it. its better.
I have lost nearly 1500$ over one night. we think this is the best coin for day trading seeing only the chart increment percentage. then thats emotional only , no statistical investigation or research. if you do not know day please avoid from it. its better.
Emotions are what the economy and business targets from individual it is very effective form of market strategy even in the cryptocurrency community and these may or not but most of the time cause us negative effect on investments but we can use these emotions as a drive to research further possible trades before actually committing to one.
I only bought coin with 3 red bricks continuously, because this signaled a very deep drop and was able to recover very quickly. Never buy coin worth constantly increasing because you will be very difficult to control your capital when you sleep
For the sake of trading today because the market has fallen. It's just a good hold, the time will come when the market will be good.
In a time of constant market fluctuations, keeping a coin in the long run is also a good option for investors who are not good at trading. I also kept a lot of coins for a few months and when the market fell sharply I bought more. Everything is going well and hopefully it will be stable by the end of the year.
I have lost a lot ,not having the patience .Sold faster than needed. Be more careful ,and patient.
Yes, it's actually not pleasant. I noticed that many people, even those who have trading experience, can lose part of their funds, because the movement of the Bitcoin price is difficult to determine with a greater degree of probability. Sometimes it seems to me that large players are deliberately playing against technical analysis by earning large sums on small players.
Emotions should not have any place in trading, it clouds your sense of judgement, Sorry for your losses.Unless you are very skilled , try and avoid using leverage position,pumps and dumps etc.
I understand how where you are coming. Are you trading 100% of your funds to only one altcoin by chance? That also happens to me before where i also lost over 30% of my funds because of focusing on only 1 altcoin and dont even bother saving some funds for buy backs. We only have to trade 20% of our funds when in day trading then 80% must be reserve for buy backs.
the trading has been a great experience as the experience gathered was helpful in the making money part of the transaction but i think i prefer the daily emotional trading more than any other
It's a lot of money to lose, but then it depends on how much you actually put in. If it's a small percentage of you holdings then you can make it back at the next bull run. Just remember not to get too emotionally attached to certain coins in order to succeed.
Emotional trading faculty just bill you almighty buck. I accept the aforesaid patience as you. So if it's day after day trading or long-term retentive, we accept to control our attitude, and just a capital attitude can flood us more profitable.
Day trading shouldn't be entertain without a clear strategy in place. Been knowledgeable and paper trading over several times should be the foundation of day trading while eliminating all emotions from your trades.
I am sorry to hear this news. As a trader, after you have a clear understanding of the knowledge in this field, what you need to do is self-control. The ups and downs of the encryption market are happening every day. What we have to do at this time is to keep calm and wait. The right time, only good attitude can make us profit
This is the fact who feared. When we do day trading, of course there will be many chances of that happening in a short time. This of course affects the condition of everyone's emotions. Moreover, if we have an emotionally unstable. Then I think it would be very dangerous. Then for the emotional thing does indeed need to be trained to do day trading.
For the sake of trading today because the market has fallen. It's just a good hold, the time will come when the market will be good.
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