how control my emotion?? - page 16. | Bitcointalksearch.org

haroldtee

sr. member

Activity: 644

Merit: 299

Quote from: Targusluxe on October 30, 2017, 12:30:57 AM

That's something i need to work on. Im also carried away when i was trading specially when my coin is droping. I need to work on it too to become a good trader.

You really do not need to get carried away when trading. Before you start trading, you should have known what you are dealing with, what you expect, what to do incase something goes wrong which is why we have stop loss which usually is always below the point when a price breaks below support and if all this is something you can do pretty effectively while making decisions based on the chart and some news, then you will have no problem with keeping your emotions in check.
You will keep panicking, making decisions blindly and making mistakes if you don't know what to do and which is why you must learn first before you start trading and then believe in yourself to do a great job after that.

moneycrypto

newbie

Activity: 17

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Quote from: hridoyb on October 24, 2017, 01:41:56 AM

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ? Cry

Just take a chill pill and take a break for 3-4 months at least.
Come back in 2018 and see where you stand.
I am very sure you will stand at a very good ground unless you have invested coins that are not in top 20 right now.

Smarty14392

sr. member

Activity: 560

Merit: 286

Quote from: Targusluxe on October 30, 2017, 12:30:57 AM

That's something i need to work on. Im also carried away when i was trading specially when my coin is droping. I need to work on it too to become a good trader.

Being a trader, the most important thing which you need to consider is nothing other than controlling your nerves not only at the hard times but almost every time. If you will not have control on your emotions, then you can never make some good decision and which can even result in huge amount of loss as well. You really need to develop this habit of remaining cool and calm.

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Quote from: wuvdoll on October 31, 2017, 04:04:57 AM

Quote from: Coin12 on October 29, 2017, 11:46:17 PM

Its too difficult to control emotion. More experience you are more understand how to control it. Actually we can not control 100% of emotion.
Try to planning everything you do is one of way to control emotion.

Controlling emotion is really not something very difficult. The truth is that if you are good and you know what you are doing, you see every of your move as the perfect move to make and you will never regret them. I understand that we cannot control 100% of our emotion and there would often just be some bad days, but over time, these emotions fade off in trading once you grooming into professional trader.

Emotion control is a not just a lesson to be learned within one or two days. It must be a practice, should be heart-learned over time.

I think you first have to understand fully the emotions and ethics and functions that how trading works and the coin on which you are trading you have to be first done research on it. you need to understand all the terminologies and where to get the information to analyze the coins you are trading.
Everything can be read online and it could be the basis of our decision making, if you are lazy reading to update yourself, you won't succeed in trading. Time is too fast and every thing changes very quickly so, you have to go with the flow.

bitgolden

legendary

Activity: 2926

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Leading Crypto Sports Betting & Casino Platform

Quote from: zokizuan on October 30, 2017, 10:37:02 AM

I sell mostly at the top of pumps!

How do I know the tops ?

Its simple I start panicking that the price will go down while the price is still going up and the a few moments later i sell and soon after that a dump come

Whats the Secret?

we all are emotion driven humans what I am feeling are being felt by many others like me so they are just waiting for a trigger to sell and take profit...like me

Well, it is one thing to sell at pumps and wait for it to get back down and then it is one thing to think you are buying at the right position and then it keeps coming back down. These are what every traders should always expect and not just pumps. There are always dumps and there are sometimes more dumps, it is just to plan an exit strategy as well which involves stop loss and not just entry point.

BabyBoss

full member

Activity: 462

Merit: 100

Quote from: hridoyb on October 24, 2017, 01:41:56 AM

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ? Cry

First, before you enter the world of trading you must be ready to wait, wait patiently is the key for you to profit more. But if you already sell it in low price you got lose your money. So, now you entered the trading world you must face it and survive from it.

malah

full member

Activity: 518

Merit: 100

Quote from: hridoyb on October 24, 2017, 01:41:56 AM

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ? Cry

sometimes trading with results that are not in accordance with what we want it makes us become unable to control the emotions but do not make you so emotion, if you start emotions better stop and refresh your mind

justdimin

hero member

Activity: 3122

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www.Crypto.Games: Multiple coins, multiple games

Quote from: PointHope on October 30, 2017, 12:15:37 AM

Relax, play small at first, play established coin, be patient, make a mistake or two, learn from the mistakes, be patient, watch learn..bank some small profit, feel good.
Don't worry be happy, be snappy!
Cheers

I wonder why a newbie would be trying their hands on shit coins instead of learning with established coins as you have said. The thing with established coin is that you can still have some little bit of patience while you are still learning at some moves you could have made to prevent some situations but would not be that bad.

But for a shitty coin, man! that is like playing with fire when you know you do not have enough strength or resources to deal with the fire. Mistakes are always bound to happen and learning from it and making right decisions later on is what would simply make a trader better.

cr_liev

full member

Activity: 364

Merit: 101

Do you have some background in risk management? May the knowledge be the base for you which would take emotions away and leave you with profit. Intuition is good, but there are some general rules you should follow

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: Coin12 on October 29, 2017, 11:46:17 PM

Its too difficult to control emotion. More experience you are more understand how to control it. Actually we can not control 100% of emotion.
Try to planning everything you do is one of way to control emotion.

Controlling emotion is really not something very difficult. The truth is that if you are good and you know what you are doing, you see every of your move as the perfect move to make and you will never regret them. I understand that we cannot control 100% of our emotion and there would often just be some bad days, but over time, these emotions fade off in trading once you grooming into professional trader.

Emotion control is a not just a lesson to be learned within one or two days. It must be a practice, should be heart-learned over time.

diskodasa

sr. member

Activity: 337

Merit: 250

Alta coin is so a great coin. Maybe you should wait a few months. It will recover soon. Good luck to you!

Allan Ramanda

full member

Activity: 462

Merit: 100

if the altcoin price you trade is down, then all you have to do is hold it. actually you do not have to worry about altcoin price down. because the price is never stable, but if you do not dare to take big risks, then you sell more now.

d1ceplayer

sr. member

Activity: 686

Merit: 277

Quote from: Sony.UK on October 28, 2017, 09:06:32 PM

Quote from: hridoyb on October 24, 2017, 01:41:56 AM

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ? Cry

Don't feel bad on it. It's common to have lose and profit in a business journey. But I understand it affects your normal life as you seem to be new to this field. My advise would be, try to get your money back before you loose much. Earn from other sources where investment is not required. Accumulate as much for can, learn more about the business a lot, then get into it to profit a lot. All the best.

He should follow your pieces of advice and moreover, as you said this is nothing new. Business and even life is a combination of losses and profits, you should just learn from all your mistakes to be a better person or professional.

It is a nice idea of investing into thinks that do not demand investment such as working hard by joining signature campaigns. They will surely help you in getting back your money.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: zarados on October 29, 2017, 09:01:04 PM

Quote from: RoommateAgreement on October 24, 2017, 01:48:11 AM

sometimes a loss is better than a big loss. in technical terms use a stop loss order which is practically doing this for you. it triggers when price falls lower than your "tolerance" so you automatically dump the coin and prevent further losses.
it doesn't have to be a stop loss and automatic either. you can do it manually too. you just have to plan for these things ahead of time. for example you buy ETH at 0.07BTC and decide that you don't want to lose more than 5% of your money so you dump it as soon as ETH got dumped hard down to 0.0665BTC and prevent losing more money when it was really dumped hard down to 0.046BTC and then buy back at the bottom.

I agree, determining a stop loss is one wise way that can be done to reduce the risk of greater loss. By setting the limit, we can then buy it back at the lowest point, and when the price goes back up, our previous losses will be covered because we get very low entry poin. and this is indeed a basic strategy done by stock traders, forex, and the like. It is possible that this strategy can also be used in cryptocurrency.

It is really funny some newbie traders do not really understand the importance of stop loss and then they keep watching as the trend keeps bleeding until they have realized they have lost so bad and now want to sell at that point.

Shits get real when you are losing but loosing extremely bad is always the trader's fault. However, there is no point selling for anyone with a huge loss now, than to look for more funds to buy in more at dips and compensate the losses they have had when the dips come back better.

PancherBitCoin

sr. member

Activity: 812

Merit: 317

Quote from: Dudeperfect on October 30, 2017, 01:32:12 PM

Let me share my similar story here, a few years ago I invested in one altcoin after doing significant research for the same. However, in less than a couple of weeks after investment, the price went down and I was in 35% loss for the same. However, since I had my research to support my investment decision, I kept it as it is and within few months, I saw about 10% to 20% profit for the same investment and that means it not only covered 35% loss but also made 10%+ profit. Moral of the story: If you have any research behind your investment decision then don't get panic.

if a person must control their emotions, then first of all this person must learn to control their actions. Only if you are sure of what you are doing, you can really avoid panic in certain situations.

Greenkarki

member

Activity: 420

Merit: 19

Quote from: hridoyb on October 24, 2017, 01:41:56 AM

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ? Cry

90% of business men go through failures at the beginning. This is common to loose. Dont give up. Learn to balance your emotions when you are in business. Find out the solutions to come out of the issues. Consult with the experts. Get ideas. All the best.

Mumbeeptind1963

hero member

Activity: 1190

Merit: 568

Sovryn - Brings DeFi to Bitcoin

Quote from: zarados on October 29, 2017, 09:01:04 PM

Quote from: RoommateAgreement on October 24, 2017, 01:48:11 AM

sometimes a loss is better than a big loss. in technical terms use a stop loss order which is practically doing this for you. it triggers when price falls lower than your "tolerance" so you automatically dump the coin and prevent further losses.
it doesn't have to be a stop loss and automatic either. you can do it manually too. you just have to plan for these things ahead of time. for example you buy ETH at 0.07BTC and decide that you don't want to lose more than 5% of your money so you dump it as soon as ETH got dumped hard down to 0.0665BTC and prevent losing more money when it was really dumped hard down to 0.046BTC and then buy back at the bottom.

I agree, determining a stop loss is one wise way that can be done to reduce the risk of greater loss. By setting the limit, we can then buy it back at the lowest point, and when the price goes back up, our previous losses will be covered because we get very low entry poin. and this is indeed a basic strategy done by stock traders, forex, and the like. It is possible that this strategy can also be used in cryptocurrency.

To control your emotion is Don’t react right away, reacting immediately to emotional triggers can be an immense mistake, it is guaranteed that you’ll say or do something you’ll later regret. Just like in trading, dont get panic when you know that the price of bitcoin is going down or up.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Let me share my similar story here, a few years ago I invested in one altcoin after doing significant research for the same. However, in less than a couple of weeks after investment, the price went down and I was in 35% loss for the same. However, since I had my research to support my investment decision, I kept it as it is and within few months, I saw about 10% to 20% profit for the same investment and that means it not only covered 35% loss but also made 10%+ profit. Moral of the story: If you have any research behind your investment decision then don't get panic.

BitcoinPC

hero member

Activity: 812

Merit: 500

Quote from: Coin12 on October 29, 2017, 11:46:17 PM

Its too difficult to control emotion. More experience you are more understand how to control it. Actually we can not control 100% of emotion.
Try to planning everything you do is one of way to control emotion.

Although it is difficult to control emotion, but if you want to really succeed in bitcoin trading you really need to control your emotions. If you re are not able to control emotions then believe me , it is too much difficult to be able to succeed in real life and also in bitcoin trading world. Decision make from heart often not as much successful as decisions made from mind.

zokizuan

member

Activity: 112

Merit: 12

I sell mostly at the top of pumps!

How do I know the tops ?

Its simple I start panicking that the price will go down while the price is still going up and the a few moments later i sell and soon after that a dump come

Whats the Secret?

we all are emotion driven humans what I am feeling are being felt by many others like me so they are just waiting for a trigger to sell and take profit...like me

Topic: how control my emotion?? - page 16. (Read 8207 times)