Topic: Experience of failure and success can help us control the emotions. - page 3. (Read 577 times)

Nah. Not really just positive emotions, justdimin.
I had day traded before and one particular example from my experience was that I am feeling a bit nervous and a bit of fear as well. From that negative emotion, I just started to increase my capital slowly and not entirely committing my whole savings to it. It turned out to lessen my losses after I did the stop loss strat. It was not a profitable experience (leading me to quit day trading), but at least I managed to lessen the losses I got from that where it might potentially cost me thousands of dollars in the long-run.

I think the number one enemy in cryptocurrency trading is accepting the fact that crypto is always come with risk and the only way to avoid the risk is to choose a good coin and it the market is not in your favor hold it for the long term since the coin will relevant in the market

I can tell they really want to get rich as fast as possible by trading but they don't know much about how the market works. This seems trivial, but trading like this seems to be more emotionally draining for traders due to price volatility. After all trades for relatively short time frames are very likely to lose, especially if they activate a cutloss strategy. Obviously each time they lose will allow more emotion to be used in later phases to be able to make up for the loss.

The point is experience still matters. It is your experience that let you know when to enter market and when to back off. People new to trading lack those experiences and that result in the negative outcome. It is to be noted also that despite your experience, you're not guaranteed a loss free trade. You can experience loss some days as well but the chances of your success is high if you are truly experienced and willing to abide by.

The reason while new traders get lost in most of their trader might be as a result lack of understanding the scenarios of Trading, because when you know when to be in trading market and when to go out of the market their's every tendency that you come up with profit, but a situation whereby a new trader is inquisitive to join trading without understanding the rudiments of trading, theirs is every tendency that it may end up venturing into negative side of Trading,  its very obvious.

When emotion do kicks in, then this would really be that tough on which there's no way that we could be able to avoid on making out decisions on the time we've felt something.If you dont have sufficient experience

then you would definitely be changing up your course which is totally opposite or different on what you had planned earlier which we do know that it is really that bad.Being that impulsive could alter things out
where it could give out positive or negative results most of the time.If you do come into a time where you are already gaining experience and awareness on what you are doing then you would
definitely be able to mold up that kind of control which would take overtime.

Many traders experience losses because they struggle to manage their emotions, which can have a significant impact on their decision-making process and even lead to substantial losses.

experience plays a critical role in decision-making. This could be why many new traders experience losses, as they may not have enough experience to effectively manage their emotions and make informed decisions.

There's no such thing as perfect trading so it is normal to fail in crypto trading especially if we are just at the beginning of our journey. Failing doesn't mean that you won't succeed but rather it can be a big motivation for us to learn and be better. If we have experienced failure, we already know what to expect and through that, we can handle our emotions. Dealing with our emotions is quite hard sometimes because trading could give us a roller coaster ride of emotions so we should be firm in handling what we feel.

This is one of the biggest factors for experiencing losses in the world of crypto trading, experience and knowledge of crypto trading is relatively minimal or does not understand how to trade at all.

But emotion is not a new thing that has been felt by many crypto trades, including me, the first time I traded I always put my own emotions forward, without wise and mature consideration.

Between 4-6 I do crypto trading, I learn a lot in terms of crypto trading, where I have to really understand and set aside my emotions, and I control and I trade with a wise mind and without emotion.

That is why it would be a lot better if someone starts trading after they learn some stuff. There are a million resources to learn from and there are a lot of people who do not learn from them at all, they end up losing a lot because of this. Just learn, study and be better than a newbie and then you can start trading and you should be fine.

Definitely isn't the best feeling in the world, after all people rather see profits right away and not spend 6 months studying for something they are not entirely sure if it will make any profit for them at all. Maybe you will study for 6 months and end up with nothing? But I guarantee you, you will end up with nothing if you trade with zero knowledge.

This is why you have to be ready to take the risks and stop thinking that everything is a win. I'd prefer to suffer a loss in early runs to know how does it feel so I'm not that surprised if I encounter the same scenario again in the future. Keep winning is great but in the other hand if you can't handle one small mistake and ruined your emotions then what's the matter? Failure is a part of success

I disagree that it is not everytime that uncontrolled emotions lead to wrong decisions, there are times we become confused to make decisions, it is that fear of making lost that make us to exit the market fearfully and when the market crash, you will thank your uncontrolled emotions that made you to live the market but it most not be done everytime, uncontrolled emotion consstently will only give you loss but I as I said, it have its own advantage and also disvantage, it depends on when you use it at their appropriate time.

Emotion is not only for newbie trader but it cut across all trader from professional to newbie or learner, the difference is that the professional has a better knowledge of the market and can move on easily to wait for another opportunity but the newbie may not have such capacity of understanding so may be aiming to fight his emotion to revenge the market which is dangerous.

Of a truth, it does. I got to understand why employers would always have "years of experience" included in job requirements as part of their criteria for picking new intakes. We may think it's high-handedness to do that but it's not. There's a part for experience in anything we do in life. Those with experience often go far ahead of their counterparts without experience.

On the part of failure and success, we learn from failure than we can do from successful. Failure gets us into adjusting our strategies and trading plan whereas success gets us excited and ego bloated. With it we conclude that we've accomplished and "arrived".

Experience does have a big role in discussion making but not as much as having the right information or education which is why you can  see a very young trader been been profitable than the experience traders that have many years in the market. The young trade could have been taught well and since he has the right information his decision are always accurate.

Experience also has its role to play but that's when you have the right information already, experience only can't make you a successful traders or you might have lost alot before you start getting trades correctly. When it comes to experience, it's best you learn from others mistakes than yours.

without direct experience, it will be very difficult for a newbie trader to get good skills in trading. I see a lot of people who admit they really want to start trading but the intention they have is so little that their plans always fail to become a trader.

after all, winning and losing is a natural thing experienced by every trader around the world, no trader wins 100%, that is nonsense. be consistent and make every moment when trading an experience so that in the next few years you can have good emotional control when trading.

In addition many people losses in trading because of greediness and I believe that its the emotions you are referring to, when you are crypto minded you will know exactly what is obtainable in trading, so I believe that trading have to do with mechanism and if you don't have the mechanism of Trading you won't know when is right time to take decision and when not to take decisions.

Most of the newbies start their trading journey in order to get big profits and become rich overnight. This is the main reason they lack patience and without any proper knowledge, they jump into play the big game. Putting all in one trade is also a mistake seen in many newbies.
Even with proper knowledge, if one doesn't have control over their emotions, they can lose. And experience of failure and success does help to get a control over one's emotion but if you continue to do the same mistake over and over again, thus making more losses thinking you may learn from your mistakes. You are making a regrettable decision.
Even the pros make mistakes too, but because they have good control over their emotions, they can point out their mistakes and avoid it from happening again.
It is always advised to start small, learn the proper knowledge, have faith over your analysis and not make decision based on your emotion. It's also vise-versa when it comes to success/profits. If you keep making profits, in the long run you keep doing the same thing and not focusing on the chart and analysis.

Even though both can help us learn, it could encourage us. But if not used properly, it could mislead us too.

It's true, but we have to know that the reason for this is that most people learn day trade, but the day trade and forex course, then when they start operating in the cryptocurrency market nothing works, especially when there is a big drop in price , they look at the chart and there is a cadle of a hammer, with a lot of volume, in the next candle there is a marubozu, the technical indicators show that there will be a trend reversal, so the person buys and places a stop - loss, but then the price drops again, the person buys again thinking it will go up and the price drops again. this cryptocurrency market is different from other markets


man, this is not the reason why people lose money in this market, as I said above, the problem is that markets are different and people learn to day trade in forex and in this market day trading ends up being unprofitable


actually having experience on this market is something important because people can realize that doing day trades will only be wasting time and money, in this market the only way to get profits is doing hodl, I know that patience is something that not all people have, but if you want to make a profit in this market you will have to learn to be patient, because doing hodl is the only best solution to make a profit

While growing up, we were made to understand that experience is the best teacher..
It is very possible for newbie traders to lose big in the trading market due to inexperienced.
Trading is like an art that must be mastered, and mastering trading is not something that can be achieved in a short time, one have to give themselves to learning everyday, and also be ready to lose some money in the process of learning, this is how experiences are made, which in turn, guides the trader to significantly reduce their chances of trading at a loss in the long run.