First hand examples of Emotional trading

Rufsilf

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Quote from: logfiles on February 11, 2019, 06:28:07 PM

- You feel so greedy and you want to make a profit of 150% overnight
- You take too long to decide when to sell off or buy
- Your buy or sell actions are often determined by sudden price changes i.e. Buying coins at peak price and panic selling them off at bottom prices.

Agree, these are the most common examples of emotional investing, trading is a good way to earn money but you can't get it overnight, it may take months to get profits and it is important that when you trade you have to have a sane mind meaning greed isn't taking over so that you will be able to think correctly and accurately. Also, the market price changes almost everyday so a trader should know how to carefully read the charts and the trend to know what decision to make and don't rush on things you might just regret it.

slashz9

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I want to make profits every day, too reckless, impatient, quickly panic when the market is red.
the latter always expects prices to rise immediately after I buy the coin, and always panic when the price suddenly drop Grin

Finestream

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Quote from: voltesbit777 on July 17, 2019, 06:21:42 AM

Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Emotions always came for a traders if the market especially was in stage of decreasing value. Then, worrying when the price goes down quickly also if you want to have a quick profit it is part of it too. If We are always in a hurry to get rich in trading this will give us upset in the end and regret also.

I believe it's always hard to fight with our own emotions so as much as possible we should not let our emotions rule in trading.Whenever prices go down unexpectedly,it's better to keep calm and never jump into conclusions by selling your coins before the price goes down even more.If you have that mindset,you will never lose huge amount in trading.

semobo

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

emotional trading I am not in your hand because when you are trading you will go with some intention that is the emotional today but in normal trading you have don't worry about the results of an emotional trading you will definitely worry about the results

Nellayar

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Fear and Greediness! The main reason why I initially buy and sell cryptocurrency. I thought I could be millionaire in only a day. But when I had my mistakes, I've learned that trading needs time and strategies. That is why, I gradually learn to manage this emotions. However, it is not all time that I control my emotion. So, there are still trades that fear and greed covers me.

Mpamaegbu

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Quote from: izanagi narukami on July 15, 2019, 08:20:47 AM

Believe or not, I start trading after I knew cryptocurrency.
I knew about stock trading but never interest until I made some profit from crypto especially on bitcoin.

It's was amazing !
I keep learning about TA and FA so I can go advance

How would you grade your crypto trading experience in 2018. Would you also say it was profitable or worth it? I bet everyone had a nasty experience during that year. Again, most people just buy and hodl Bitcoin and then resell when price goes up but not to the day to day trading. They hodl Bitcoin because it's the surest profitable coin to buy, no matter what happens. Even if Trump FUDS, it will definitely pick up back.

Apaxy

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first of all you never need to hurry and draw hasty conclusions. I have repeatedly deceived myself and sold coins at low prices, because I considered this opportunity to be the final offer.

Bezobraznike

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Quote from: voltesbit777 on July 17, 2019, 06:21:42 AM

Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Emotions always came for a traders if the market especially was in stage of decreasing value. Then, worrying when the price goes down quickly also if you want to have a quick profit it is part of it too. If We are always in a hurry to get rich in trading this will give us upset in the end and regret also.

Holders face with same problems! Emotions can overwhelm us, and we will make a wrong move what ever we are doing. The price dropping is usually
the trigger for most of the people, it`s the moments when most of us make mistake.
What helps is setting up a goal and not selling before you reach that goal, whatever happens. Be ready to wait and sink with it if you have too, but don`t
quit your goals.

voltesbit777

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Emotions always came for a traders if the market especially was in stage of decreasing value. Then, worrying when the price goes down quickly also if you want to have a quick profit it is part of it too. If We are always in a hurry to get rich in trading this will give us upset in the end and regret also.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

A friend of mine bought gup, I don't know which coin is that to be honest with you but the short code of it is "gup", he realized that would be going up soon because the team was good and they were actually working on the product and he said "many ICO's are done where owners just take the money and leave" so he wanted to get involved with a coin that actually worked on. That is the background of the story, now he had that coin in one exchange, don't remember which one so lets call it xchange and it was listed on another one and lets call it ychange.

The price of gup changed 400% in ychange but all his gup was in xchange so he got really hyped and excited and super pumped about it and sent all his gup to ychange instead, he even bought as much gup as he can from cheap xchange and then sent it to ychange. As you might imagine the money didn't transferred that quickly and dude was basically in debt by the time he received the money and the pump was dumped.

NathanJB

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Here is an experience that always repeats with my trades. I normally set a buy order so low to make sure that when a coin plunges deep, I can buy at the cheapest price. The ending most of the time is that my bid price will remain there at the bottom and will never be filled. The lines on the chart reverse already and I was left not able to buy anything.

Canoppo99

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Usually the emotions of trading were at the highest peak are when the trader managed to gain profit for the first time and if the trader facing a trading position with a floating value minus then the trader tend to panic then resulting in losses. Greed, overconfident and fear are emotions that we have to get rid of it. By using some tools or bot we can minimize emotional intervention.

emberbekas

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greed and fear are the first cause of emotions in trading , knowledge and experience can gradually eliminate , most of the experienced traders also have this difficulties , watching mark douglas and some books is good

When we have difficulty in controlling our emotions, especially when our assets experience a decline in value, leaving our investment for a while may help us not to be in panic. Fear of losing more money is usually because we are not ready to face the bad reality that can occur in crypto trading. Through experiences, we may get the steady mentality to face such conditions!

shoreno

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Quote from: arpon11 on July 16, 2019, 03:47:28 AM

I have been trading stocks, commodities, securities and forex in the past and when I notice that crypto currency is more profitable to trade than those assets

good for you because you have already an experience on trading using different assets before you discovered crypto trading while most of us didnt knew those stuffs . we only learn trading because of cryptos however crypto trading is more risky because its way too volatile but those assets that you listed above are less risky because they are stable though the income that you can get will also be lesser than what you will potentially earn on cryptos .

arpon11

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Quote from: izanagi narukami on July 15, 2019, 08:20:47 AM

Believe or not, I start trading after I knew cryptocurrency.
I knew about stock trading but never interest until I made some profit from crypto especially on bitcoin.

It's was amazing !
I keep learning about TA and FA so I can go advance

I have been trading stocks, commodities, securities and forex in the past and when I notice that crypto currency is more profitable to trade than those assets I have to flipped to cryptocurrency. It is far more profitable to trade cryptocurrency and many people are making money from Internet for the first time because of cryptocurrency and that is many people has interest in it more than forex and stocks market now. Emotional trading has rubbed many traders the trade that could have made them money but due to panic and fear and close that trade.

Rooster101

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Most of the traders experienced emotional trading when they are are still a beginner. Greed, fear and overconfident are the leading emotions that are often experienced by many traders. Emotions, if not controlled, will lead to some losses and stress so it is better to be managed during the trading. I also experienced emotional trading but I managed to control it after I studied some useful trading indicators and other technical analysis that can effectively reduce your losses.

izanagi narukami

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Believe or not, I start trading after I knew cryptocurrency.
I knew about stock trading but never interest until I made some profit from crypto especially on bitcoin.

It's was amazing !
I keep learning about TA and FA so I can go advance

silversurfer1958

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

My first transaction was ETH / USDT. The volume is very big in Binance and its price always fluctuates very fast, everything happens very hastily and the buying and selling tables stunned me.
bot and traders have been buying and selling continuously. I was planning to buy at $ 212.12 but in the face of real deal, its price was quite strong and I was always hesitant to buy ETH. I worry that its price will be lower than its price set and 30 minutes later, its price has increased to $ 220 and I lost the opportunity to buy because of greed.

EXtremeAEX

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Quote from: clover12 on February 11, 2019, 06:18:03 PM

What are some examples of when emotions mess up your trades?

Here are many examples.
The main problem arises when the emotions overwhelm common sense. A trader becomes addicted to feelings, fears, greed, or other emotions, depending on the situations in which he falls. This provokes him to act recklessly, which in particular leads to a bad result.
Another negative factor is the impact on the health of the trader. If a person is under the influence of emotions 24 hours a day (and with emotional trading, emotions will be with you all the time!), then this causes a huge stress. I remember the days when I could not sleep at night, I woke up several times a night to check all the prices. In fact, in those days I practically didn't sleep. It is very negative on health, both physical and psychological.

nydiacaskey01

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I already posted this experience of mine on another thread but just want to share with you when ANTS renamed to NEO, the price started to climb and I was able to buy ANTS at a good price at the time. NEO went up to I guess it was $80 and I still I didnt sell, I continue to hold on to it until the news about China ban on crytocurrencies started to circulate and everything turned red across the board.

Topic: First hand examples of Emotional trading (Read 1143 times)