Topic: Emotions dealing - page 7. (Read 1506 times)

A lot depends on the person, not everyone can make a profit in trading, the same applies to gambling. I think there is no need to start a debate about where it is more difficult to earn money, since both directions are very difficult. It’s easier for me to make money in trading, but this is possible because I spent much more time on trading, and medium-term and long-term trading brings me the main profit, on day trading I get more losses.

What you said is true and correct; we can control our emotions if we want to, but since this is part of our nature as human beings, we must always use our emotions at the right time when we do any trading activity in the field.

It's just that the emotions of the majority of the community here are often used in the wrong way, and in order for us to use our emotions appropriately in crypto trading, our understanding of bitcoin or cryptocurrency trading must also be broad.

Controlling emotions is very important in trading, I tried trading one month with real money and  one month by demo balance. The result was i was chasing my losses when trading with real money, while chasing the losses I was taking high risk.
And in demo account I was not chasing losses instead I was waiting for next opportunity after a losing trade.
 
When trading with real money, emotions take control of  us.  Which causes wrong decisions making and losing.

The less you remain obsessed with trading more then chances of being in profit with a stable mindset. The major risk of mental problem from trading comes with being stuck on the screen for long with an increasing debt. These are the things that generate bad emotions and need to be minimised is possible.

Avoiding loans, avoiding HYIPs, and altcoins are basic things while having a day job with stable income is a cushion. These things are often overlooked but are of utmost importance to any trader specially the new ones

Well said. Emotions are actually hard to control especially if you don’t highly understand what you are doing. Trading is all about making yourself profitable by taking some risk and overcoming them. And as long as you trade in order to chase for profits, emotions will always be present. For me, that’s normal. But the challenge to control your emotions is quite unusual simply because emotions are part of a human being, and trying to control it takes more of our skills and strategies to make it possible. While it’s quite easy for others to control their emotions because of their long trading experience, most of those who start to trade fail to control and end up seeing theirselves ultimately losing their funds.

Emotions are a big obstacle in trading, You will not be a successful trader if you are emotionally weak and do not control it which makes it difficult to make a rational decision. This will lead to commenting mistakes like taking profits too early or holding on to stop position for too long. I think the tips you provide are very valuable and good ways to avoid emotions in trading. Using stop loss and take profits order will help you to take emotions out of the decision and know when to come out of the trade. Also, being involved in other activities will help you to relax your mind and make a good decisions.

Lastly, emotions are great weapons that make your trade difficult but I belive that you can manage it by using your mention tips also there are many other tips to follow to become a successful trader.

Professionals definitely know what they are doing because they gained experience, I would prefer someone who has been doing this for 10 years in an amateur setting, like not really a big trader, to someone who is working at one of the top firms in the world but it's their first day.

It is not professionalism that makes you richer, it's the experience but you gain a lot more experience if you are doing it professionally since that means it's your job and you spend hours on it and you end up learning a lot more about it from people around you. This gives you experience quickly and you do as well as you hope for and it doesn't really feel like it's going to end up being that much of a big deal, you shouldn't really care about it.

I support this. If possible, let him do the easy DCA everyone knows. Even if he won't be checking his laptop to check his chart, fine just use Dual Investment. It works like DCA but in an automatic format. Less high blood pressure, easy living

Emotions play a critical role in every aspect of life because they influence our decision-making and the way we think. Just imagine you are in a stressful situation. You tend to think quickly to resolve that situation, but you are not looking at the long-term solution, which makes you sometimes make bad decisions. How much more in trading that emotion play a great role in it.

You have a great strategy, it is really proven that it is working, and you have a high percentage of winning if you follow that, but because of emotions, like not having patience on trades, you do not follow your strategy and skip some processes that will lead you to losses. Also, even though you have already reached your daily target, you still continue to trade because you are now greedy to earn more profit, which again can lead to losses.

Emotions are really a big factor in trading, and they decide whether you win or not. That is why other traders are really trying to learn how to control themselves, as that is their number one enemy in trading.

Most of the negative emotions that a trader may feel come after suffering a bad loss, so a great deal of those measures will not work as they are mostly geared towards preventing a negative emotional state to happen, something relatively easy, and they do not focus and how to deal with that state once it has appeared, something way more difficult.

I really think that after a bad loss the best thing a trader can do is to stay away from the markets, otherwise they may try to recover their money on the next trade and they will instead just lose more money as a result of their negative emotions.

Those people who have said that emotions and psychological aspects arent involved on trading is basically that shows or means that those people didnt actually have that trading session ever since. No one would really be to those people who do have actuial experience in trading will really be able to say up such words which is really that totally impossible since these things are the main reasons on why you would really be making out some decisions basing up on the analysis that you had made. You would really be needing to set up some back up plans if ever one of the analysis you had made did turn out to be wrong because of that sudden market changes which we know that its always been that unpredictable and random.

Therefore, it would really be that resulting into such condition which it would really be mixing out your emotions and might really be that resulting into alterations of your earlier analysis
which might lead into that more losses and this is something that you should really be needing to control. If you dont have that kind of discipline towards self then you are really that prone to lots of errors and mistakes just because did make out some change basing up on what you had encountered. Well, this isnt something new and there's always a chance that you do alter out your earlier
decisions just because you do become that impulsive.

I see the term professional as used there and it sort of reminds me of a post made by Ratimov some time ago to correct an impression. An impression on how the term professional is used with respect to trading and traders. The term mainly describes traders to be individuals who work for a firm, be it a large organization or something of that nature who are paid for there skills to take trades and create different market conditions such as market movers by virtue of there positions in a trade.

Emotions is a part of human nature, one that isn’t going to go away and no matter how we could try, it would always come surfacing every now and then but, the longer you play with it, the better you would be at handling it when it pops up your mind every now and then while on a trade.
It’s a need to master skill for every trader as it defines the point where you get to cut lose or be contented with your trade profits.

That's right, how can someone say that emotions are not involved in trading, I don't understand that statement. We must remember as you said that mental and psychological is very necessary, what is the use of it? discuss a little, mental and psychological will greatly help you in finding the right decision, okay you have a strategy that is 100$ accurate for example, but still if you do not have a good mental and psychological how can you dare to open a position, and obviously it will help you to minimize hesitation or fear when you want to open a trade. First you have a strategy that is believed to be effective and to perfect it you also need a calm mentality and psychology to be able to turn the trading results into profits. As you said it is absolutely true, this is not a matter of mathematics but also very involved with the mental and psychological of a person who can minimize your emotions to stay guarded,
it is not uncommon for people to make the wrong decision because they may be late opening a trade because of doubt.

So yes, the point is that emotions are very involved in trading and if you have a strong mentality and psychology to always remain calm then you will be able to minimize your emotions because if I let it maybe you will experience MC, that case has happened a lot.

I don't think it's pure math as your trades can actually be different based on your emotions and mental condition. You won't be able to make the right decisions and make the correct trades if you are mentally unstable and vice versa. So, you can't say that emotions have nothing to do here, It's emotions that make someone panic and sell their assets, and it's also emotions that make someone FOMO and buy a token at a very wrong time and lose their investment or a part of it.

Your emotions can always make the best of what you do and it can also ruin everything, so emotions play a great role in anything that you do in life. Those who have control over their emotions will usually get success in whatever they do while others will have to face a lot of failures in life.

Trading is similar to gambling and you don't need to allow your emotions to control you if not you will end up in a big loss. The difference between trading and gambling is that a trader ends up being an expert and will start making profit with time which is certain. But gambling will only lead to more loss as time goes on. Don't give up to your emotions when trading because it isn't a good factor to a successful trader. It is better that when you have been taken by your emotions,you quit trading for sometimes and trade again when you are in a good mood. Skill and concentration on the market will not come to play no matter how good you are in trading if you let yourself to be controlled by your emotions.

Emotions is not easy to overcome and it takes a lot of work for us to make sure that we don't keep making the loses we have been seeing. Emotion can damage our morale and make us look like a newbie in the market because it will make us scared and unable to trade the market in the proper way even though we can analyze the market very well without issue. Trading cam be very frustrating with emotions if we don't know how to fix ourselves or do to make us make profits from the market. We ought to trade in the right way or emotions will deal with us.

Well that's right, people are basically the same they have personalities that are not much different, such as greed or maybe a sense of fear that tends to be high and also a sense of emotion is definitely there but with different levels. Yes, I also won't say that mistakes are only for beginners, but even for professional traders it can really happen, especially for emotional problems. I think it depends on something that is happening to them, for example a trader who has personal problems outside of trading then it can really interfere with them in trading, emotions can occur there and also especially make wrong decisions.

Well and I think this can be the difference between beginners and professionals, those who are professionals will obviously at least know the various conditions that exist in the market and also the habits of the market, such as understanding price movements and being able to read some indications that signal the movement will go where. While those who are beginners are very limited as we know in general. Planning in trading with various self-control limits such as it has become a very mandatory thing that traders have, and also in my opinion all of this they can get when they already have high flying hours in trading, risk management will always be the thing they focus on (professional traders), because only that can help them, I mean minimizing losses there.

Yes, everything will go well if they can control everything well, and their profit target can also be achieved according to the target that has been determined.

Some of the points you provide are quite relevant to the real situation in trading. But a few points too, in my opinion, are very ineffective for controlling emotions when trading crypto.
Then in my personal opinion, to be able to control emotions when transacting in the crypto market. Actually there are many factors that can make our emotions stable. One of which is:

• Experience
By having deep experience in trading crypto every day, such as gaining experience when experiencing losses caused by various things. So in my opinion mentally and psychologically, people who have experienced this will definitely have a stronger mentality and be able to control their emotions better.

• Knowledge
This is very basic stuff. Just try to do some research, that traders with less knowledge have a greater potential for not being able to control their emotions when transacting in the crypto market.

• Use cold capital (money)
And finally, it is this factor that plays a very important role, to be able to control emotions more when trading crypto, namely using cold capital. Why does this have such a big impact? Because if trading and capital use hot money. There will definitely be some feelings that haunt you while trading. This is anxiety, fear and restlessness. I'm sure it must be there. Even though I've never used hot money as trading capital, chances are the feeling will definitely emerge.

Traders who can't control their emotions are not only those who are beginners in trading, but some of them are also quite professional traders.
Emotions that cannot be controlled will result in many losses, especially in strategies that have been made and will fail when emotions are uncontrollable and go off the track.

Not just focus, traders must also master the crypto market, understand chart reading for technical analysis, understand fundamental analysis, and be able to make predictions for future trends.

And also good management will provide good trading too.
There will be no panic when risk management, and financial management can apply.

Saying emotion is a weaponed used against traders makes me wonder who is wheeling this weapon against them traders. If it’s the exchange against them traders or it’s the market against traders.
There isn’t any other party to this most times as, it’s always traders against traders and the result of your trade is based on either good or bad decisions on your part. You get to decipher what is or what could be from your analysis, develop a trading plan and be disciplined enough to go with it.

I think that was the only point as it concerns trading that you mentioned in this thread. The rest were simply how to stay distracted from getting back to the charts and watch the proceedings of your trade.

TP and SL does help you to stay on course with your trading plan and that does keep emotions off alright. Still, it’s not always an easy to archive as, your surely going to be conscious of the activity in the charts no matter what.