Topic: How do you manage ur emotions? - page 65. (Read 55934 times)
As an average level of trader. We can't deny that sometimes our emotions takes control of us but if we want to become a successful trader and also good trader at the same time, we need to manage our emotion. But your question is how?, Based on my own experience. I manage my emotions by sticking to my plan and just always remembering that all my loss is always part of the game and it is also part of what we called "fee to become a good trader", I don't care if I loss small or big amounts because it doesn't matter for me because "experience" is very priceless and if you treasure those experience then it will give you a lot of ideas and somehow it will help you to recover those losses and after those hard or dark times you can master managing your emotions. Don't feel sad or angry if you loss, it is all part of the game just be careful and be smarter next time
Although trading for many years, I still have this threshold when emotions start to get the better of you. Usually when your entry position size is very huge or very high leverage and the market is very volatile.
So learn first where your threshold lies.
So learn first where your threshold lies.
Since you're trading for many years as you say, it should be no surprise that you as trader must be able to benefit even when the price is going down. I see a lot people here focus too much on the upswings, where they go completely nuts when the price is going down, and sell in panic as result. Regardless of the amounts you are trading with, the focus should be pointed towards taking benefit from every market movement, instead of only focusing on the price going up. If you get nervous just because you went in with a position being too large, then you probably should lower the quantity (value) of your entry points to a level you feel comfortable with.
good point. you dont need to have high earnings in trading. if you have good expirience in trading, you should know when to buy and when to sell. knowing the graph is a plus point, knowing when will be the peak, when will rise, or when will drop can be learned by experience. knowing such thing will conditions your mind and your emotions.
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?
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?
Usually it is hard to manage the emotions when we are trading with hight amounts of coins(bitcoins or any other coin)
But what we should do is to take a glass of water and think more than twice what are we going to do and re analyze it.
The worst part is that we need to finish this in a hurry which could lead making panics and probably fail.
The only way to effectively manage your emotions is to trade over and over and over again.
With time you will develop a hard skin, know when to jump in and when to fly out.
With time you will develop a hard skin, know when to jump in and when to fly out.
it is hard to manage our emotions even we are doing trade over and over again because we can not make profit everytime and we can see the price is down and up. for me, i think to manage our emotions is we don't have to get panic if bad thing is happen in the market and we can calm ourself and find the answer to solve our problem.
Yes at first it is hard to managed emotions in trading but if you are trading everyday or on regular bases, you will used to it and time come yo don't mind already.Based on my experience, I am excited and nervous at my first trade and in panic when my coins loses value.But now,I used to it already.Trading is like gambling you may lose or gain anyway.Just spend an amount you can afford to lose.
It is true emotions are hard to manage, it takes time to manage it unless you were trained since you were young. At most cases there are factors that affect the person easily no matter how professional he is on that stuff. These are what we called weaknesses. And uncontrolled emotion is the greatest weakness of traders, to overcome it first we need to acknowledge it. Then study or learn how to overcome it. By knowing what to do in case something unknown to happen is the best way to controll our emotion. As others said, learn from mistakes, study and research every situation and be ready so that we will not be caught unprepared.
Very well, I understand it clearly; thanks for this. To control our emotions we should always remember to keep calm. We don't need to rush in trading because it is non-stop process. Well, the risk is always there since prediction is still exist even we analyze it.
The only way to effectively manage your emotions is to trade over and over and over again.
With time you will develop a hard skin, know when to jump in and when to fly out.
With time you will develop a hard skin, know when to jump in and when to fly out.
it is hard to manage our emotions even we are doing trade over and over again because we can not make profit everytime and we can see the price is down and up. for me, i think to manage our emotions is we don't have to get panic if bad thing is happen in the market and we can calm ourself and find the answer to solve our problem.
It is true emotions are hard to manage, it takes time to manage it unless you were trained since you were young. At most cases there are factors that affect the person easily no matter how professional he is on that stuff. These are what we called weaknesses. And uncontrolled emotion is the greatest weakness of traders, to overcome it first we need to acknowledge it. Then study or learn how to overcome it. By knowing what to do in case something unknown to happen is the best way to controll our emotion. As others said, learn from mistakes, study and research every situation and be ready so that we will not be caught unprepared.
Very well, I understand it clearly; thanks for this. To control our emotions we should always remember to keep calm. We don't need to rush in trading because it is non-stop process. Well, the risk is always there since prediction is still exist even we analyze it. Emotions is sometimes hard to manage. When trading with emotions you gets losses we dont know how to manage our eagerness in selling the coins. These panic selling and overflow of enjoyment when trading are the big impact in trading your money. However, continous learning, knowledge can help us a lot not to trade with emotions.!
It is true emotions are hard to manage, it takes time to manage it unless you were trained since you were young. At most cases there are factors that affect the person easily no matter how professional he is on that stuff. These are what we called weaknesses. And uncontrolled emotion is the greatest weakness of traders, to overcome it first we need to acknowledge it. Then study or learn how to overcome it. By knowing what to do in case something unknown to happen is the best way to controll our emotion. As others said, learn from mistakes, study and research every situation and be ready so that we will not be caught unprepared.
The only way to effectively manage your emotions is to trade over and over and over again.
With time you will develop a hard skin, know when to jump in and when to fly out.
That at best is simply playing the Ostrich! No matter how far you go in a wrong direction, you will never get it right until you go right back and correct the source of the error. Trading is an act and takes time and right training to perfect. A great portion of the training is learning how to manage our ever changing emotions in changing market conditions. A trader does not go there to play macho man, because it is a guarantee, such a trader would have to leave empty pocket again and again. With time you will develop a hard skin, know when to jump in and when to fly out.
As you become more confident and prepared for both winning and losing streaks, you'll make less mistakes, profit more and lose less.
When we will be having maturity to have both winning and losses as same things then we will be able to manage our emotions effectively. When we start treating meaning and losses without getting any emotions out of them, we can follow our trading plan to make more profits.This maturity will be only possible after having more experience in trading.
I know, when we are able to make more profits with our strong analysis then we may get greedy to keep on trading but that also will be good as long as our analysis will be supporting it.
Panic selling is probably the worst thing a trader could ever do with BTC. That happens because people invest and buy more then what they can afford to lose because If they didn't buy more , they simply wouldn't care , have patience and wait whatever time It takes until It raises again.
People who bought more then what they can afford to lose are always in panic and the least drop in the price could make them panic sell and that could result into losses , however If they waited , It could've go up again.
When i was a new trader, i followed my emotions , got panic frequently and finished the trade in loss. My major mistake was i bought coins whose price has almost reached high and sold immediately in panic when its price started to fall resulting in huge loss. But then i learnt the basic lesson, buy when the price starts to fall and sell wit a calculated profit margin when price starts raising. People who bought more then what they can afford to lose are always in panic and the least drop in the price could make them panic sell and that could result into losses , however If they waited , It could've go up again.
As you become more confident and prepared for both winning and losing streaks, you'll make less mistakes, profit more and lose less.
When we will be having maturity to have both winning and losses as same things then we will be able to manage our emotions effectively. When we start treating meaning and losses without getting any emotions out of them, we can follow our trading plan to make more profits.This maturity will be only possible after having more experience in trading.
Emotions is sometimes hard to manage. When trading with emotions you gets losses we dont know how to manage our eagerness in selling the coins. These panic selling and overflow of enjoyment when trading are the big impact in trading your money. However, continous learning, knowledge can help us a lot not to trade with emotions.!
As you become more confident and prepared for both winning and losing streaks, you'll make less mistakes, profit more and lose less.
When we will be having maturity to have both winning and losses as same things then we will be able to manage our emotions effectively. When we start treating meaning and losses without getting any emotions out of them, we can follow our trading plan to make more profits.This maturity will be only possible after having more experience in trading.
I usually try to change what I'm doing if I'm feeling like
my judgement is affected by emotions,be it fear of loss or too much agitation,greed,panic etc.
Means you are not successful with your trading ? my judgement is affected by emotions,be it fear of loss or too much agitation,greed,panic etc.
I do not see any possibility of making profits by not controlling your emotions. You need to have some strict plans for your trading and you need to follow them regardless of whatever feeling you will be getting in market hours.
Changing your plans according to some sudden feelings, might ruin the chances of making profits in trading.
it doesn't mean I'm unsccessful in trading,not at all
I control my emotions as I mentioned above,also those who say: "hey I don't care if the position I just entered with 90% of my deposit is going to lose me all of my money if I'm wrong"
are plain lying,even if to themselves
you got to know yourself well and make sure you have techniques to control your emotions,not to pretend you don't have them
know your limits and know your reactions-this is the key to be a successful trader IMHO
The only way to effectively manage your emotions is to trade over and over and over again.
With time you will develop a hard skin, know when to jump in and when to fly out.
With time you will develop a hard skin, know when to jump in and when to fly out.
Although trading for many years, I still have this threshold when emotions start to get the better of you. Usually when your entry position size is very huge or very high leverage and the market is very volatile.
So learn first where your threshold lies.
So learn first where your threshold lies.
Since you're trading for many years as you say, it should be no surprise that you as trader must be able to benefit even when the price is going down. I see a lot people here focus too much on the upswings, where they go completely nuts when the price is going down, and sell in panic as result. Regardless of the amounts you are trading with, the focus should be pointed towards taking benefit from every market movement, instead of only focusing on the price going up. If you get nervous just because you went in with a position being too large, then you probably should lower the quantity (value) of your entry points to a level you feel comfortable with.
Although trading for many years, I still have this threshold when emotions start to get the better of you. Usually when your entry position size is very huge or very high leverage and the market is very volatile.
So learn first where your threshold lies.
Every business has its secrets, not getting to know them before venturing into the business is an express invitation to chaos and confusion.The psychology of a trader, which is where emotions falls in, is pivotal to what a trader ends up accomplishing. As for a way to manage emotions, many a trader are now quite comfortable with delegating authority to robots, since these are devoid of emotions as does humans. So learn first where your threshold lies.
I never let my emotions get the best out of me when it comes to my investment because I'm sure that I'll regret it big time later after everything's done and after I have lost money on what I'm doing. Also, if you want to get big money out of something you need to have balls and nerves of steel before proceeding into any plans of yours.
As you become more confident and prepared for both winning and losing streaks, you'll make less mistakes, profit more and lose less.
When we will be having maturity to have both winning and losses as same things then we will be able to manage our emotions effectively. When we start treating meaning and losses without getting any emotions out of them, we can follow our trading plan to make more profits.This maturity will be only possible after having more experience in trading.
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