If you trade without stop loss or target you would get in this situations where you panic and don't know what to do.
When you have the stop loss and it is in good position lets say 2% of the balance you would not lose but with strategy you could predict where maybe the price will drop or get higher then. The same with the target you need to know where to take profit. Not just waiting and waiting. If you buy to hold on to a Coin is other thing.
Topic: How do you manage ur emotions? - page 43. (Read 55924 times)
Controlling emotions is another factor where you will make once you planned them with a free mind, everyone will face the situation at one point you cannot make profits with emotions because you need to analyze yourself and do some calculation to make profits on the losses.
well you need to fail hundred time till you succeed,experience really matter
when i see my coin on the red,i just convince myself it will go high again after 1 or 2 days
panic sell bring no fortune
when i see my coin on the red,i just convince myself it will go high again after 1 or 2 days
panic sell bring no fortune
Such convincing left me with zero balance countless times:) You need to have a strategy in case of a bad, losing trade. Convincing yourself that your bad trade is good is not a good strategy in my opinion.
well you need to fail hundred time till you succeed,experience really matter
when i see my coin on the red,i just convince myself it will go high again after 1 or 2 days
panic sell bring no fortune
when i see my coin on the red,i just convince myself it will go high again after 1 or 2 days
panic sell bring no fortune
Emotional management comes from having strict trading rules and trading experience. You shouldn't be buying into positions on a whim. instead you should know exactly when to buy, where to sell and where to put your stop loss at. if you do it this way, trading becomes less emotional and much more controllable because it is based on math. Good traders don't gamble, they do all the calculations before they make their move.
Trading would only like a gamble when you do jump directly without any proper plans and calculation on such trade and yes emotional management is really a big factor that do affect our trading style or pattern because this would really affect our mind on making decision on setting up on a trade. Experienced traders surely passes this kind on the past and mostly have this kind of situation are on newbies.
Emotional management comes from having strict trading rules and trading experience. You shouldn't be buying into positions on a whim. instead you should know exactly when to buy, where to sell and where to put your stop loss at. if you do it this way, trading becomes less emotional and much more controllable because it is based on math. Good traders don't gamble, they do all the calculations before they make their move.
I just like to think everytime that the price must go up. If I am down 10% I'll sell instantly and never look back for those what if moments. Strong trading rules help you out here.
Learning to keep emotions on the leash is probably the hardest part of trading. For me anyway, it took me years. It is easier to learn the market, understand it, to learn how to analyze charts or macroeconomics. And you can even be right in 90% cases. But in those 10%, when you are loosing, the emotions take control, and they can easily wipe out your whole account. I know from experience:)
we are not a machine, but you can define hard principles and keep to it. Intuition is also emotion, but it is also based on your individual experience, so emotions can have a positive value.
You are giving a general definition, what we are discussing here is the emotion that will cause a negative result in our trading, it is when we will not gonna follow our plan because we let our weakness in trading manage us. This is a common problem for some traders especially the newbie because they are too aggressive when they do not have enough experience.
we are not a machine, but you can define hard principles and keep to it. Intuition is also emotion, but it is also based on your individual experience, so emotions can have a positive value.
If a human being or a man doesn't have emotions then he's similar to a body which has lost the soul and the body is alive. Emotions are required, but in certain things people need to know the limits of the do's and don'ts to make life in a better way along with the body.
yes but those people who do not have control over their emotion and do not have sense for good and ban, then they are worst than animals. to me i think we must have control over our emotions. id we do not have any control over our emotion then gambling can be more worst for us. therefore it is too much important to have full control over our emotions. You can never have full control over your emotions, it is impossible.
No matter how tough you think you are how how much control you feel that you have certain things can either crack you up or break you down in the blink of an eye. That doesn't mean it's bad not to have full control, as we are humans we have instinct. Instinct and emotion goes hand in hand.
If a human being or a man doesn't have emotions then he's similar to a body which has lost the soul and the body is alive. Emotions are required, but in certain things people need to know the limits of the do's and don'ts to make life in a better way along with the body.
yes but those people who do not have control over their emotion and do not have sense for good and ban, then they are worst than animals. to me i think we must have control over our emotions. id we do not have any control over our emotion then gambling can be more worst for us. therefore it is too much important to have full control over our emotions.
Interesting thread. Trading indeed is a lot like gambling and is addictive. But it has a big advantage over gambling - good research and analysis can really increase your chances of winning. And here comes the problem called 'emotions'. If you cannot handle them, you can loose even if you are right in most cases.
Everyone have emotions not only in trading. Whenever we have lost our money and anything which we want to do and suddenly it is not happen then our emotions will be feel pain. That is because we are human being and have a emotions and feeling whenever we do worst mistake, Because we are not robot. But in trading, it is most risky earning source and in it when we couldn't earn as we want to do than definitely our emotions will be feel affliction.
Emotions will give us trouble when we lose our control from it. Trading is as addictive as gambling but the there is a marginal advantage of earning profits by doing in depth study of the opportunities whereas gambling wholly depends on the luck part. Trust me emotion plays big role in determining the results of our trading and we should not neglect this aspect while trading or investing.
If a human being or a man doesn't have emotions then he's similar to a body which has lost the soul and the body is alive. Emotions are required, but in certain things people need to know the limits of the do's and don'ts to make life in a better way along with the body.
This is the hardest thing - to determine the boundaries for which you can not go. I often do things wrong. This leads to negative consequences. Very often this leads to the fact that I break the planned plan and do not what I wanted
Everyone have emotions not only in trading. Whenever we have lost our money and anything which we want to do and suddenly it is not happen then our emotions will be feel pain. That is because we are human being and have a emotions and feeling whenever we do worst mistake, Because we are not robot. But in trading, it is most risky earning source and in it when we couldn't earn as we want to do than definitely our emotions will be feel affliction.
If a human being or a man doesn't have emotions then he's similar to a body which has lost the soul and the body is alive. Emotions are required, but in certain things people need to know the limits of the do's and don'ts to make life in a better way along with the body.
Keep a trading diary and write down all your emotions that you feel. it helps a lot. otherwise, the only thing that will actually manage emotions is gaining experience.
I could not understand what you're trying to mean. Listing out all over emotions might be serving us remembering those events but I could not get how it will help us for developing strong controls over our emotions. Probably you will never get time to read them again and could not recall on what situation you are getting those incidents/emotions.But I agree to manage our emotions effectively we must need handsome experience on various trading moments. When we are coming back to same types of emotion failure, out of experience we will be having control to tackle the situation for not affecting our trading plans.
Keep a trading diary and write down all your emotions that you feel. it helps a lot. otherwise, the only thing that will actually manage emotions is gaining experience.
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