First hand examples of Emotional trading - page 7.

btc78

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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?

When you are so desperate to gain when its obvious that market is falling

When you wanted to gain more than 100% even that you bought a shitcoin

When you panicked even a small drops happening inyour folio

And lot more to mentioned

ufaiz50

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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?

You know you can more easily find this answer on Google because there are so many trade articles that discuss this, not only in crypto trading but in forex and other trading, not to take emotional action because it can be risky for a solid strategy, the point will damage your startegy.

D3m1r4wanti

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some of the conditions that I experienced when I traded emotionally or had a high sense of panic include:
- hurry to buy lots of coins when the price drops, even though some time later the price decreases.
- dream of getting big profits with fast trading
- Not selling when the price is high, because it already has a price target, even though the price has dropped a few moments later.

leowonderful

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The ATH with BTC near $20k was a pretty good example of greed for me personally; I didn't cash out all of my stack near there but I did cash out a good portion of it. My buy-in price was many times lower than the ATH and I'm still not in the red, but if you're trading, it's extremely important but also difficult to figure out when and where to take profits and when to accumulate coins. I still have problems with this, though I've traded quite a bit since then and I have better control over my trades now.

adaseb

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I think the main reason why most people fail at making any money trading is due to greed and fear.

Most people buy a stock, and when it goes up like 1%, they sell because its free money for them. However if it goes down 1%, they don't sell. When it goes down 5% they still don't sell, only when it goes down like 50%, they finally sell and it usually reverses then.

And this is why its difficult for most retail traders to make money. They are good at picking good trades but their risk/reward is completely messed up because they never want to take a small loss or a big loss. And it should be completely the opposite where you only take large profits instead of small profits and take small losses instead of big losses. However emotionally its very difficult for humans.

johanesrobin

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Doing stupid things, like selling your coins cheaply. Though coins have good potential according to your beliefs at the beginning.
then too quickly believe in negative issues so you panic and do carelessness.

clover12

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Quote from: 1Referee on February 12, 2019, 03:18:39 PM

Going all in with my savings back in 2013 was definitely the deepest point of my time in crypto.

I couldn't stop thinking about all the possible things that could go wrong that would make me lose my savings. Almost every minute of the day I checked the price to see if I made some money or lost money, and this continued for like a week straight. I ended up panic selling at a ~15% loss, then went all in again after the price recovered, then again sold at a loss.

Going all in is bad in so many ways, but the losing aspect isn't even the worst part if you think about it, the stress and the bad mood that comes with it is so much worse.

Saving up a decent amount of money takes a good decade, getting rekt in crypto can be done within a year.

Thanks for sharing that one Ref.

Yeah I started buying during the big bull run and had been making bitcoin buys on the way down. I lost a lot. In hindsite I would not "hold on for dear life" watching the price on a nearly constant decline, and instead just set a sell limit order.

emberbekas

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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?

When the value of our assets continues to decline day by day, it will be a difficult time for us to fight with our own fears. It would be better to leave our investment for awhile when the decline occur so our emotions won't ruin it.

1Referee

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Going all in with my savings back in 2013 was definitely the deepest point of my time in crypto.

I couldn't stop thinking about all the possible things that could go wrong that would make me lose my savings. Almost every minute of the day I checked the price to see if I made some money or lost money, and this continued for like a week straight. I ended up panic selling at a ~15% loss, then went all in again after the price recovered, then again sold at a loss.

Going all in is bad in so many ways, but the losing aspect isn't even the worst part if you think about it, the stress and the bad mood that comes with it is so much worse.

Saving up a decent amount of money takes a good decade, getting rekt in crypto can be done within a year.

Slow death

legendary

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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?

Thing that happened to me many months ago:

I did trade, but the funds I used to trade came from the signature campaign, I had little profit and every day it was very stressful for me to see that profit so little, I started thinking, "If I could have more money, I would have more profits... ". So I took my stuff and sold it and asked my parents to give me money and bought bitcoins. But even then I still felt that the profit was very small. so I started taking all my money from my bank account to buy bitcoins, greed was destroying me and I was not realizing it... I just wanted to make very high profits as soon as possible that I do not realize that in real life I did not buy anything for myself.

So I had to stop doing trade and get some rest, that's how my greed is over, and today I'm happy with every profit I have, and I know how to conserve the money to trade and the money to buy things in real life.

Supercrypt

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Last year I missed a big opportunity to gain from MTC tokens just due to my greediness. I got some big amount of tokens from few campaigns. First I sold some tokens for 250 satoshi and after few days I did see prices were trading above 1200 to 1500 satoshi but I did not sell and the prices went up to 6000 satoshi also but I waited for 10k satoshi per token but now it is trading below 500 satoshi (when I checked last) and I am still holding them. I guess 5k satoshi must be a good prices but my greediness stopped me and made to wait for months to years.

Another similar incident was with IPSX, I got some tokens worth of $1200 but did not sell them and still holding for less than $100.

I rushed to buy lisk when it was trading under 80k satoshi by last June and now it is trading around 33k satoshi. This is an example of not waiting for right price and not averaging the buying levels.

omonuyak

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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?

Sometime in 2011 when I was trading forex, I could still remember one day after analyzing the market and put a buying other and about three minutes the price stated going against my position! I quickly close the position and as if someone was seeing what I was doing I find out that the price stop at that point and reverse to favour my decision and at that time I have closed the position for fear of losing too much.

dothebeats

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Cashback 15%

This happened to me back in the heydays of the now-defunct Mintpal. I was trading Blackcoin and kept it for a few days. Then a sudden pump happened, and I was so happy my coins are getting its value for once. Thinking that it would continuously climb up, I didn't sold my coins even though I'm almost @ 200% profit from my entry point. Little did I know that it would be the last push before everything goes to shit, and instead of getting insane amount of profits, I ended up with just 20% gain which isn't that bad but still. Greediness got the better of me, resulting into a mediocre gain instead of having a hefty sum at my arsenal.

Fredomago

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Quote from: Bttzed03 on February 12, 2019, 03:09:37 AM

Based on my own experience, it is the not selling of coins and tokens when it is already at a good profit thinking it would still go up. I've also sold some coins out of panic.

Greediness affects most of the traders, forgetting to sell while the value is rising thinking that there's a lots of uptrend movement to happen, waiting for much higher value, but suddenly value start to fall and when the value is really down then emotion again influence you to sell out with a big loses.

clover12

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Quote from: Mpamaegbu on February 12, 2019, 11:50:38 AM

Not following through with your trading plan after you buy the asset is a major emotional disaster. Set your targets and stick to them. Have a plan B in case things don't go well but let that B plan not happen on the spur of the moment. Emotion is the major killer in trading.

Quote from: clover12 on February 12, 2019, 11:43:54 AM

But I am not going to just cash out and lose, because the trades that are hanging are with semi steady alt coins that should go back up...

You may want to stay on those trades because a bull run is on the way.

How do you know??

kiansantan

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Making decisions when emotions are high, often results in decisions that cause regret. One of them was selling coins in panic because they heard the news that was going to go down. The news was hoak. Without analyzing the truth.

Mpamaegbu

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Once a man, twice a child!

Not following through with your trading plan after you buy the asset is a major emotional disaster. Set your targets and stick to them. Have a plan B in case things don't go well but let that B plan not happen on the spur of the moment. Emotion is the major killer in trading.

Quote from: clover12 on February 12, 2019, 11:43:54 AM

But I am not going to just cash out and lose, because the trades that are hanging are with semi steady alt coins that should go back up...

You may want to stay on those trades because a bull run is on the way.

clover12

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Well I am sitting on a few trades (my whole account balance) and waiting for the price to reach my original stop limits, for a small profit.

I must have not read the charts well enough and bought at the wrong time. You live and you learn huh?

But I am not going to just cash out and lose, because the trades that are hanging are with semi steady alt coins that should go back up...

clover12

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Quote from: wayancrypto on February 12, 2019, 12:15:44 AM

In the end of 2017 i earned 500% from 1 trade but after that i decide to hold that coin with aim to get more profit, and i did not use stop loss but finally the price keep dow to more than 90%. This biggest my mistake ever, greedy been make me loss much money. Greedy is natural emotional thay hard to control it so important to use stop loss after you buy crypto because no body can predict the future.

How do you caluculate the best stop loss value? (When you decide to cut your losses and sell)

shirackjs

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In crypto, I think panic and fear of missing out are the two emotions that commonly mess up trades. Here some examples:
Panic: When an investor hear some bad news about the coin he has invested, he panic and dump his coin at a price lower than his buying price.
Fear: When an investor see the price of a coin pumping, he is afraid that he miss the train and buy the coin at a high price.

Topic: First hand examples of Emotional trading - page 7. (Read 1150 times)