How do you manage ur emotions? - page 40.

Boov

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Quote from: tylerDjack on January 20, 2017, 03:27:25 AM

Greetings!

While trading sometimes I drop back from my original plan. Such emotional decisions often bring loss cuz I tend to change orders on panic or when I mistakenly expect more potential income. How do you deal with that if you feel the same way?

Emotions and gut-feels can either work for you or destroy you in time of decision making. Expecting the best or worst is not healthy. You have to stick to your goal but must also have a back-up plan. The best way is to not make decision when in the hype of emotion, breathe and be calm.

gsrcrxsi

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i just accept the fact that i made a mistake. making a mistake can be changed or you can make it as a good experience. but sometimes when theres a big opportunity and you just miss it because you make a huge mistake, we cant handle it, but it might be a big lesson for you. that big opportunity can come again by times 2. so you are already prepared by the next time that came again.

BunnyShibe

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Quote from: n0ne on June 11, 2017, 11:02:14 PM

Managing of the emotions were the one that is required in the trading of bitcoin as well other cryptocurrency related activities. Emotions play a big role, because the more you are emotionally down more you'll lack in the development of good trading aspects. So possibly as we expect so we need to be, only then the profit will be ours.

i think one of the most important role of our emotions is in gambling. our emotions really play important role in gambling. for most of the time when we play gambling, we lose our emotions, which some time cause a big lost for us, those people who have good control over their emotions, they can really show good result in gambling, in fact for most of the time we do not have good control over our emotion and therefore we most lose money. specially when we are loosing or making money, in both conditions we want to continue playing gambling and in the last we lose everything.

Gaff

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I'm a kind of person who is firm of making decisions whatever I want, I make it sure that it will happen. Regarding of how I manage my emotions, I am holding oon to something even if I take a risks of it most especially in trading because it is already a big business and it will be my loss if I don't do something about it. As much as I can I have to find ways and take control of it because in the end I know that everything has a way to get your goal in the future now that many people are globally competitive. So I really manage my emotions through focusing on something and disregard that will ruin my focus on trading.

riskthebiscuit

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Knowing that the market is bigger than you, and knowing that winning at the financial markets is a process. It does not happen overnight, but will slowly manifest itself through hard work, dedication, and persistence. Only then will you know how to manage your emotions. It will suck losing the first time, or making a big score the first time. It is how you proceed afterwards that shows your true character. And how you master your emotions that will determine how far you make it in these waters

8Habits

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Quote from: Kray on June 12, 2017, 05:49:59 PM

Just relax Grin

and dont put big order whit unclear price. for me it's better to get profit $1-$3 rather than get huge profit but just once, in a trading you need to confirm everything and play with clear mind

Simple, direct, and to the point advice. That is true, $1-$3 profit on a rinse and repeat manner is better and achievable than one time aim of big profit. When you profit $1, you just rinse and repeat your strategy ten times and you got $10. compared to aiming automatic $10 profit - usually this will take long to reach versus just $1-$3 profits.

Kray

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Just relax Grin

and dont put big order whit unclear price. for me it's better to get profit $1-$3 rather than get huge profit but just once, in a trading you need to confirm everything and play with clear mind

MMysterious

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Bear season or just the beginning

Yes, occasionally I do end up having a low outcome. At first I was constantly panicking especially if the coins I bought would suddenly drop down and tend to sell them without any profit. But good thing I changed that attitude and controlled my emotions, what I would do now is to just hold the coins for long term and close the tab of the trading site so I won't be tempted to sell them at a low cost. And I was surprised it worked well for me, I have been holding a certain coin for 3 months now.

Bowly88

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Quote from: magmar on June 11, 2017, 09:54:55 PM

Quote from: tylerDjack on January 20, 2017, 03:27:25 AM

Greetings!

While trading sometimes I drop back from my original plan. Such emotional decisions often bring loss cuz I tend to change orders on panic or when I mistakenly expect more potential income. How do you deal with that if you feel the same way?

I don't do the same way as you do for a reason. The main reason is that, you won't get panic if your original plan works perfectly. However, if it didn't worked fine, you don't have to stick with that plan but go to the other plan instead. For this reason, I always make an alternative plan.

Certianly going back to original plan would just trigger on person to make his control in emotion more difficult. It would be better if we have a support plan si that there is no panic will occur if sudden things happen for us to do a better trade.

candidpurge

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In trading, skills and knowledge are not the only things important. We must be aware too of our risk tolerance and discipline when we are into it.

Japinat

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Quote from: n0ne on June 11, 2017, 11:02:14 PM

Managing of the emotions were the one that is required in the trading of bitcoin as well other cryptocurrency related activities. Emotions play a big role, because the more you are emotionally down more you'll lack in the development of good trading aspects. So possibly as we expect so we need to be, only then the profit will be ours.

It's very vital to know how to control ourselves, it is what we need in order to effectively implement our method in trading, even if we did so much research that made us knowledgeable in gambling, we will not be able to achieve our goal since we are weak in taking it all into actions.

n0ne

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SecureShift.io | Crypto-Exchange

Managing of the emotions were the one that is required in the trading of bitcoin as well other cryptocurrency related activities. Emotions play a big role, because the more you are emotionally down more you'll lack in the development of good trading aspects. So possibly as we expect so we need to be, only then the profit will be ours.

magmar

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Activity: 476

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Quote from: tylerDjack on January 20, 2017, 03:27:25 AM

Greetings!

While trading sometimes I drop back from my original plan. Such emotional decisions often bring loss cuz I tend to change orders on panic or when I mistakenly expect more potential income. How do you deal with that if you feel the same way?

I don't do the same way as you do for a reason. The main reason is that, you won't get panic if your original plan works perfectly. However, if it didn't worked fine, you don't have to stick with that plan but go to the other plan instead. For this reason, I always make an alternative plan.

8Habits

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Activity: 756

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Quote from: mariahh on June 11, 2017, 03:39:04 PM

According to defination emotion is an instinctive or intuitive feeling as distinguished from reasoning or knowledge.This means that the emotion is something spontaneousness and based in our experienxe.Most of the times you can't choose how do you feel or to remove a special emotion, but you can control your reaction if you are experienced and mastered in practise.

Good point Mariahh! Our emotion is just right there, now our prime duty is to know how to control it for our benefits. This is especially true to soldiers in the battlefield - they feel fear and terror of the war and yet, they choose to fight on. Hence, just like soldiers, we can also control that fear and emotions towards our desired goal.

bravehearth0319

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Quote from: xuan87 on January 20, 2017, 10:04:09 AM

Knowledge and experience will help you to manage your emotion, when you master the skills, your prediction of price movement will increase and when things is more predictable you won't be panic anymore, panic selling is the worst emotion when it comes to trading, it can cause your profit to decrease and even lost your money

This is true and correct, through experience we can have an idea how to control it.
And most often happened in managing emotions newbies always fall on this things because majority of them
got panic on it, when the price immediately drop.

mariahh

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According to defination emotion is an instinctive or intuitive feeling as distinguished from reasoning or knowledge.This means that the emotion is something spontaneousness and based in our experienxe.Most of the times you can't choose how do you feel or to remove a special emotion, but you can control your reaction if you are experienced and mastered in practise.

yakushev

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Quote from: bitllionaire on June 11, 2017, 08:58:29 AM

Quote from: planfox on June 10, 2017, 04:06:56 PM

I do not have strong emotions. I understand that this is work and there may be disappointments and losses in it. But I do not risk big sums. I do not have an aggressive strategy. Better stable and fewer than many but at great risk

but for the most of the time my emotions create problems for me. i have very less control over my emotions. specially when i am playing gambling. in fact while playing gambling when i make money i want to continue the the winning for next bit also and from time to time i become excited and invest even the winning amount again agan, which some time cause to lose even my own money in gambling.

Gambling is not a way to make money. They are for entertainment. And so you do not need to be angry playing them. If you came to gambling you should be ready to lose.

bitllionaire

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Quote from: planfox on June 10, 2017, 04:06:56 PM

I do not have strong emotions. I understand that this is work and there may be disappointments and losses in it. But I do not risk big sums. I do not have an aggressive strategy. Better stable and fewer than many but at great risk

but for the most of the time my emotions create problems for me. i have very less control over my emotions. specially when i am playing gambling. in fact while playing gambling when i make money i want to continue the the winning for next bit also and from time to time i become excited and invest even the winning amount again agan, which some time cause to lose even my own money in gambling.

crazycatwoman03

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Quote from: Kevin77 on June 10, 2017, 04:43:37 AM

Quote from: crazycatwoman03 on June 10, 2017, 04:31:30 AM

Quote from: mmj on June 08, 2017, 07:11:24 AM

To manage your emotions while trading , set goals , put your orders and close the trading station

To be honest, your answer is very confusing. Should emotions be managed while trading? What I mean is that trading can be worrisome and exciting at the same time but how helpful is managing your emotion will be? What do you mean by put your orders and close the trading situation? Please explain it further and more clearly. Maybe you can site an example of this for us to understand what you have said. Thank you!

Most probably he is trying to say "do not watch market" in order to control your emotions. It is common when a trader is watching his position fluctuating ups and downs, he will lose control over his emotions.

You can trade in two different ways :
1. You enter a position and you can closely watch it and you can take decision based on market movements.
2. You enter a position with predefined target and stoploss levels. Put orders for both target and stoploss and leave off your trading for sometimes.

I guess the second way of trading is suggested by @mmj here, so that you will never need to watch market movements and you will never lose your control on your emotions.

Thank you for the further explanation. I am just new in trading and I honestly did not get what he just stated. Thank you explaining it more clearly to me.

You are both right that I should not watch market while trading. Trading is really a big gamble in this crypto world. It is not just easy to entrust your bitcoin and just wait for the profit to come. Watching the market and worrying if some unlikely changes happened could really make someone freaked out. For a newbie trader like me, I haven’t experienced losing my control over my emotions and I wish that it would not happen to me.

planfox

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I do not have strong emotions. I understand that this is work and there may be disappointments and losses in it. But I do not risk big sums. I do not have an aggressive strategy. Better stable and fewer than many but at great risk

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