Topic: Getting too emotional while trading crypto - page 4. (Read 3174 times)
I think you become more emotional the more the risk, I personally found meditation to help with other stresses in life as well as it helping in crypto. I also believe too much trading can make you feel a lot worse than set times, a couple years ago I would send 12h a day staring at graphs, it is not healthy in any way. Sometimes you just have to buy and leave it for a while, maybe set some orders and come back after a week or two or even when the order expires.
I have switched to crypto bot trading and just monitoring the process and make some adjustments from time to time. I think nowadays it is impossible to daytrade manually and stay good-tempered.
Trading for me is a very challenging job and it can get a little emotional whenever we see the price that changes almost every minute and that you really need to keep an eye on it every single time because of you don’t then tendency is you either win at the end or loss instead.
I think becoming less emotional while trading can be hard most especially that there is money involve but I would really think it can help you big time if you don’t let your emotions control you because it can only result to bad outcome. I think in trading you have to focus more on understanding how you can go around with the market.
Color doesn't change anything though but I can see well with green and red candlesticks. The trick should you consider are the trading system not the platform colors. Emotions usually will ruin the judgement whether to buy or sell when sudden changes to the price. Today the price drops and when it hit the stoploss, they end up setting up again or sell in order to buy back when it starts to bounce. Personality of a trader is a big factor.
It is devastating if things didn't go in our way sometimes, that goes the same when we are Trading, especially if we are expecting a good result based on our analysis. What I'm trying to say is that our emotion is always involve in Trading, it is hard to make decisions if you can't feel a single thing. I know how frustrating it could be if what we are predicting didn't happen the time it should happen.
Like these green candlesticks you have mentioned, expecting greens that turns out red is a total disappointment because it means goodbye profits for that time.
I always feel that it's very intense to trade. I have been trading crypto for two years now, but find it's still difficult to get used to all the constant price fluctuation.
I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless
For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:
What do you think? Do you have some more tricks you use against these emotions?
Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!
I think the only tricks that would be effective is the descipline because even if you change the color scheme of your trading platfrom if you don't have any discipline then you will lose to your emotion eventually.I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless
For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:
What do you think? Do you have some more tricks you use against these emotions?
Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!
Actually, losing to your emotions is inevitable but the things make it worse is that if you let yourself engulf by emotions. We should practice how to manage our emotion inorder to minimize our loss.
emotions do not belong in day trading. It is already stressful enough, and the computers and systems analyzing charts do not have emotions like you do. So if you are crying after losing some money, just remember the computer doesn't have feelings, so it will have a big advantage over you.
Get that point and soon you'll be able to act just like how bot's doing. Emotional stress brings bad things to happen with your trading activities. Don't bother to continue if you don't have the right mindset before jumping inside the market. There's nothing left for you aside from hoping for luck to take its course and let your position to generate profit. You can trick yourself by being optimistic and continue to turn negative situations into opportunities to strike back to continue surviving. 
I don't understand how the chart on the left screams panic while the white chart calls for zen. I guess it's also a matter of perspective and instead of tricking your mind to be so presuaded by COLOR SCHEMES why don't you just train your mind to be more aware and be calm by itself?
I feel like resulting to changing color themes and all these are cheap tricks for the lazy mind. But thats just my 2 sats..
I feel like resulting to changing color themes and all these are cheap tricks for the lazy mind. But thats just my 2 sats..
I say do whatever you can do give yourself the best chance to trade without emotion.
It's just his opinion and some people and some scientists will back it up. You know there is a big reason why hospitals use only a certain color, and why in psychiatric institutes they also are careful with color schemes. Why is the world's favorite color blue? It is just the way our minds are wired by our world and how we view it.
Our brains are chemically reliant after all. We can't just trick or persuade ourselves if a chemical is affecting it.
emotions do not belong in day trading. It is already stressful enough, and the computers and systems analyzing charts do not have emotions like you do. So if you are crying after losing some money, just remember the computer doesn't have feelings, so it will have a big advantage over you.
No, emotion will belong to day trading, and even the feeling will become too high in the day trading. Imagine you search the right coin to trade, but you cannot find anything good even if the market has a good moving That will make you stress and you cannot think clearly so that will impact your day trading.
I already got that experience before, and I admitted that really annoying for me to find the right coin. But later, I realize that I need to calm down for a while so I can analyze and search the coin. After that, I think I can always calm down in searching for the coin, although the coin cannot give me a big profit, it will be okay for me.
I don't understand how the chart on the left screams panic while the white chart calls for zen. I guess it's also a matter of perspective and instead of tricking your mind to be so presuaded by COLOR SCHEMES why don't you just train your mind to be more aware and be calm by itself?
I feel like resulting to changing color themes and all these are cheap tricks for the lazy mind. But thats just my 2 sats..
I feel like resulting to changing color themes and all these are cheap tricks for the lazy mind. But thats just my 2 sats..
I think the most common factor to control emotions in any type of trading is to pre plan the trade first and manage the trade as per plan only. Suppose you buy Bitcoin at $8K and take risk till the price $7500 and target your profit at $9k so whatever side is hit, you will always be prepared for it. Even if BTC crosses $10K it will not make you regret to be in trade as you had already meet the target. By planning a trade properly and execute it as per plan makes you a professional trader.
This is very well said. Having a plan like this and NOT deviating from it is the key. You need to know before you start the trade what you're willing to risk and what you're going to take out of it potentially. If you place the buy without knowing your sells - you are in for an emotional ride..
With those plans, I think we can follow the market everywhere the market wants to go. But the most important here is controlling emotion which not every trader can do. When you can manage your emotion in trading, I guess that it will easy for you to solve every problem you might get in the future. But to control emotion will not be easy as it says because it needs strong power to do that. You have to realize emotion will take part in the trading.
emotions do not belong in day trading. It is already stressful enough, and the computers and systems analyzing charts do not have emotions like you do. So if you are crying after losing some money, just remember the computer doesn't have feelings, so it will have a big advantage over you.
For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:
What do you think? Do you have some more tricks you use against these emotions?
I really didn't get your tricks. Changing candle color or using dark/white mood, how can be a it's tricks
Emotion is a human nature. And it's really effect on traders when they lost money or profit lot of money. Sometimes i give me a break from trading to over with my emotion. Generally i don't cook but in break time i try to cook, try to meet my relatives and try to going ride with my friends. And i can tell you that those things really work for recover my emotion. 
I think the most common factor to control emotions in any type of trading is to pre plan the trade first and manage the trade as per plan only. Suppose you buy Bitcoin at $8K and take risk till the price $7500 and target your profit at $9k so whatever side is hit, you will always be prepared for it. Even if BTC crosses $10K it will not make you regret to be in trade as you had already meet the target. By planning a trade properly and execute it as per plan makes you a professional trader.
This is very well said. Having a plan like this and NOT deviating from it is the key. You need to know before you start the trade what you're willing to risk and what you're going to take out of it potentially. If you place the buy without knowing your sells - you are in for an emotional ride..
With those plans, I think we can follow the market everywhere the market wants to go. But the most important here is controlling emotion which not every trader can do. When you can manage your emotion in trading, I guess that it will easy for you to solve every problem you might get in the future. But to control emotion will not be easy as it says because it needs strong power to do that. You have to realize emotion will take part in the trading.
for advice, trading should be able to implement trading that is very relaxed, you trade at least have to do long-term trading because if you trade always use emotions then you will find it hard to get profit, indeed the most difficult is to control the emotions you have.
Yes you will have to control your emotions in trading as a good trader knows how to handle himself in even a worst situations but those who are not having any control over their emotions so they will suffer lose after wards. We only should know if the market is dumping so we can simply hold and wait but if market is getting green we can sell it to trade profitable.I think the most common factor to control emotions in any type of trading is to pre plan the trade first and manage the trade as per plan only. Suppose you buy Bitcoin at $8K and take risk till the price $7500 and target your profit at $9k so whatever side is hit, you will always be prepared for it. Even if BTC crosses $10K it will not make you regret to be in trade as you had already meet the target. By planning a trade properly and execute it as per plan makes you a professional trader.
This is very well said. Having a plan like this and NOT deviating from it is the key. You need to know before you start the trade what you're willing to risk and what you're going to take out of it potentially. If you place the buy without knowing your sells - you are in for an emotional ride..
Doesnt work for me.
Maybe it depends on how people view things.
But how did you end up making this kind of solution for you?
I have been trading a lot before and you cannot just prevent emotion overflowing when you are in a good trade and also in a bad one.
You get greedy or you get blinded.
Never did I took any suggestions to control it for there is really no way I can.
You should train yourself to deal with it. With books or articles, you should explore appropriate ways and apply them on your own. Because being emotional prevents you from doing the right analysis, which is one of the main reasons that can cause loss. Even if you have many years of experience, you can make them useless by being emotional. Maybe it depends on how people view things.
But how did you end up making this kind of solution for you?
I have been trading a lot before and you cannot just prevent emotion overflowing when you are in a good trade and also in a bad one.
You get greedy or you get blinded.
Never did I took any suggestions to control it for there is really no way I can.
I think the most common factor to control emotions in any type of trading is to pre plan the trade first and manage the trade as per plan only. Suppose you buy Bitcoin at $8K and take risk till the price $7500 and target your profit at $9k so whatever side is hit, you will always be prepared for it. Even if BTC crosses $10K it will not make you regret to be in trade as you had already meet the target. By planning a trade properly and execute it as per plan makes you a professional trader.
Doesnt work for me.
Maybe it depends on how people view things.
But how did you end up making this kind of solution for you?
I have been trading a lot before and you cannot just prevent emotion overflowing when you are in a good trade and also in a bad one.
You get greedy or you get blinded.
Never did I took any suggestions to control it for there is really no way I can.
Well, we can't do something about it there are people who can't manage their emotion and it is more likely inevitable to happen especially in surge of our emotions. For example we were enjoying too much of getting profit or maybe annoyed of getting lose all of your capital. To lessen this possibility we might risk only the money we can afford to lose just keep out of getting engulf by our emotion. We cannot fully exterminate our feelings upon handling our trade but we can somehow prevent it. Maybe it depends on how people view things.
But how did you end up making this kind of solution for you?
I have been trading a lot before and you cannot just prevent emotion overflowing when you are in a good trade and also in a bad one.
You get greedy or you get blinded.
Never did I took any suggestions to control it for there is really no way I can.
Doesnt work for me.
Maybe it depends on how people view things.
But how did you end up making this kind of solution for you?
I have been trading a lot before and you cannot just prevent emotion overflowing when you are in a good trade and also in a bad one.
You get greedy or you get blinded.
Never did I took any suggestions to control it for there is really no way I can.
Maybe it depends on how people view things.
But how did you end up making this kind of solution for you?
I have been trading a lot before and you cannot just prevent emotion overflowing when you are in a good trade and also in a bad one.
You get greedy or you get blinded.
Never did I took any suggestions to control it for there is really no way I can.
I always feel that it's very intense to trade. I have been trading crypto for two years now, but find it's still difficult to get used to all the constant price fluctuation.
I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless
For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:
What do you think? Do you have some more tricks you use against these emotions?
Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!
Actually it's not only about crypto, trading is itself a battle. A battle between you and your mind. You have to think rationally and plan before executing your moves efficiently in order to get desired results. The moment you let your inner emotions play, your survival in this market would become almost impossible. This is the sole reason why despite of a lot of traders entering market daily, only 3-5% traders are the ones who are constantly making profits and rest of them are either on break even or just blowing away their capital with no good. That is why sometimes some people say that paper trading can help but actually emotions are always involved when it comes to trading with real money. I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless
For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:
What do you think? Do you have some more tricks you use against these emotions?
Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!
I have switched to crypto bot trading and just monitoring the process and make some adjustments from time to time. I think nowadays it is impossible to daytrade manually and stay good-tempered.
Surely, the bot will be a great help here, but you should not always rely on them. Day trading is always a stress, so, probably, it is better to change the strategy and get involved in holding, choosing the most promising cryptos. However, even here, the stress cannot be avoided, especially when you get up in the morning and see that your tokens and BTC lost at least 15% of their price.
Yes,stress cant be avoided that's why you should know how to handle up your emotions and discipline out carefully on every actions you made because
one false move it would surely cost you.
And Sometimes you'll think that the right timing alone is the key in trading but yeah in that 'timing' there's a lot of process called analysis .. which I guess mostly missed that point leading to a consecutive losses.. frustration.. making another deposit aaand that's the circle of getting too emotional to make money quickly through trading which it's not right.
Everyone should get used to have some bad day losing in trading.
Jump to: