Getting too emotional while trading crypto - page 7.

stomachgrowls

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Quote from: WickCrypto on September 24, 2019, 11:51:38 AM

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!

It doesnt matter on what kind of set-up would be using.I remembered on using that plain white and black colored candlesticks plus that having no background on an mt4
but those are the times when i do trade up with forex. Simple and clean from indicators but you can still able to read up when you do put up imaginary support and resistance and trend lines.

So far in concern with emotion it isnt a new thing yet we are dealing with money here.Its normal for a human being to react and being disturbed on what we are doing.
If you dont know how to handle up your emotion then it will cause sudden change up of decisions that will heavily affect your trading.

WickCrypto

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Quote from: cabron on September 24, 2019, 12:57:03 PM

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.

Oh personality is a huge factor! Not to mention the discipline you need to keep going when you are making some serious losses (a time that will come). I'm surprised you feel that the colors don't change anything, it made a big difference for me personally

cabron

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https://www.betcoin.ag

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.

Not_A_Rocket_Scientist

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tradingbot.info

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.

WickCrypto

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Merit: 4

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: https://steemitimages.com/p/EEEoA8oLaAxsTkPYAARp78o5cJA1o6Chv9x98TzCFT6v5J3pxJNE2bCkuMwZesHWaA1xiTWjfTgQfvzPnUu5b8eNrotvovE7v8GuLGCTSFuEfDitKRY1iigMYXuSW2fQYCvzWNtykPzSY12JwNUAA?format=match&mode=fit&width=640

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!

Topic: Getting too emotional while trading crypto - page 7. (Read 3198 times)