When the price goes down, all you need to do is stay calm, patient and wait until the price goes up again. It will be time to go up and there will be a down time. Do not you feel panicked and immediately sell it, it is a loss. You should always remember that, if you sell it when it goes down then you lose.
Topic: how control my emotion?? - page 5. (Read 8207 times)
Controlling emotions is tantamount to patience, in all efforts it must take patience and from that patience we will reap success
You need to control your emotions when you in trading it can be due to maturity if your money loosing down dont loose hope there is a progress for your investment soon,waiting patiently and controlling your emotions to build up yourself.This is the very important attitude in trading we cannot say what happens so we need to be ready in every situation we do.
Yes do the control emotion is very important in trading. It often happens that coins and sags you don't maintain and close a position in minus and minus are good in another project but I think there is a shot there is a lull and the project from which it came starts to grow well. Often repeat to yourself the words of Buffett on the market, the winner is not active and patient.
And we need to never forget to put stop losses. Better to lose 10% of Chen for a year to go minus 90%
And we need to never forget to put stop losses. Better to lose 10% of Chen for a year to go minus 90%
To control emotion dont over trading, and buy 2-5 altcoin only, so we not confused to handle it. And before buy some altcoin, should be have good money management first, and just choose some altcoin with good fundamental only so when we wrong , the price still possible to going up.
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.
You cant use a stop loss order in an illiquid market though, so dont trade those unless your VERY confident about the coin. 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.
Controlling your emotion can be best achieved by building enough Emotional Intelligence (EI) . This helps you to acquire sufficient emotional shock absorber before going into trading, bearing in the profit and loss part of the trade.
You should try to invest to other coins other than what you have invested. There are coins which has a higher potential than the others. You should look into the brighter side that even if you lose, you are going to gain from the other. Another thing is that, you should not invest that much in one investment only, take the risk into another.
In trading there is always fluctuations in the market as there is ups and down in the market.I think it is a routine matter and one should be mentally strong enough to handle the pressure of the market.You should learn to be calm during fluctuations in the market , Specially when the prices are coming down.It is also included in the basics of trading to be learnt very soon to get profit from your investment.You should be patient. 
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 ? 
It is normal thing in trading, when we bought some coins then suddenly the price down. But it is happen because now bitcoin's price is going to up. So only buy altcoin when you have information, and secondly don't be greedy. But I aware you, if you sell your coins now then may be you have some lose, but if you could hold them then may be in future you could earn profit from them.
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.
great advise, it's always better to prepare for the worst out of every venture and that's why risk assessment is very important before starting any business/trading 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.
There are no sure bets in the world of investing; there is risk in everything. So be prepared for the ups and downs.
You have to be patient and wait for increased value of your coins. Everything will be all right at the end.....
You have to be patient and wait for increased value of your coins. Everything will be all right at the end.....
Before jump in to trading altcoin, you should be have good trading plan and risk management because like we know volatilty and fluktuasion of crypto is so high. Before trade you have to specify and decide how much % for take profit and how much % for stop loss, for example stop loss area 15% and take profit 30%,and when the price reached this price level, open potition should be done. And other thing to control emotion is dont over trading but keep focus to analysis the market.
It's epically difficult to control fomo and other harmful emotions concerning trading. As for me, better way is to leave it for some time and do other work.
Yeah! The best way of diverting your mind form losses is to get involved into other activities. The depression can be released in so many ways nowadays. There are many gadgets and activates rather exercises which are there for the sole reason of releasing depression. So may go for outdoor games such as basketball and skipping. Bitcoin is the best coin which is never going to put you into panic.
I'm having same issues nowadays. It is hard for me not to track my portfolio for price changes.
Just relax and stick to the plan you had when you started.
I do have some issues controlling myself sometimes but it is better to be patient and let time tell which have been a good decision.
Just relax and stick to the plan you had when you started.
I do have some issues controlling myself sometimes but it is better to be patient and let time tell which have been a good decision.
Emotions has really no place in work, business and especially trading. In trading you have to abide by your set strategy and do not panic if things are not going your way. Approach it mechanically, you act according to a set instruction and you will profit more if you do so than if you follow you emotion and sell when you are panicking. Oh and by the way, when everybody is panicking and selling that should be the time you are buying. Use the emotion of other traders.
To control your emotions, you will need to get a robot to do the trade for you. Many traders especially the newbie do lose money because of emotional control, when the price go against you, you need a strong emotional will to be able to be patients until you get back on track. Another way that you can keep your emotions on check during trading is to became an expert trading by developing your skills and knowledge on how coins market work.
for my emotion patience is the key and you have to practice it now that you are in trading. The more patience you have, the best you can control your emotions. Also, you have to be calm at all times and learn to not be easily affected by the results especially if you are going into longterm campaign
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 ?
My advice to you is to do some breathing exercises. I read an article somewhere in Facebook about how breathing exercises can help us control our emotions better. I tried it when I cried and it actually worked, so you should try it to. We often make drastic decisions when we are emotional, so we need to control it.
You can take a deep breath when you feel shocks or panic actions. But this only help you for temporarily. For a permanent solution, we need to solve this problem in our brains. It's not an easy task to control our emotions.
In altcoins trading, I do this on bittrex.
This is the one factor that affects our trading skill, our emotion, to control it, just try to avoid talking yourself that it a good time now to sell or buy it, habe some research on that one to gather some information so that our emotions will control to hold or sell.
Or have a specific target and stick to it. I've had many experiences when profit turned into loss because i didn't have a target and waited for what i thought would be the peak price. The dump then would come suddenly and fast so my profit would crash while i'm too dumbstruck to react quickly
This is the one factor that affects our trading skill, our emotion, to control it, just try to avoid talking yourself that it a good time now to sell or buy it, habe some research on that one to gather some information so that our emotions will control to hold or sell.
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