How to control your emotions while trading?👨🏼‍💻 - page 2.

drachman

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Quote from: Slow death on November 13, 2019, 05:20:23 PM

Quote from: coinmatics on October 10, 2019, 06:31:36 AM

Don’t be looking at the charts all the time;❌

⠀
And how can you do price analysis if you are not constantly looking at the chart? I understand that emotions cause us to suffer many losses. But that's why it's necessary to have a strategy, to know the point of purchase and selling, and to know what money the person can lose if something goes wrong.

By only looking at the charts for long enough to make that analysis and then forget about them, many traders have the tendency to look at the markets for too long even when they have no intention of making any trade, I know about that because I have the tendency to make that mistake as well, but that is something that I'm trying to change because it seems that I am unable to do my normal activities without checking my portfolio every other hour.

Slow death

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Quote from: coinmatics on October 10, 2019, 06:31:36 AM

Don’t be looking at the charts all the time;❌

⠀
And how can you do price analysis if you are not constantly looking at the chart? I understand that emotions cause us to suffer many losses. But that's why it's necessary to have a strategy, to know the point of purchase and selling, and to know what money the person can lose if something goes wrong.

Quote from: coinmatics on October 10, 2019, 06:31:36 AM

Follow your own plans, don’t compare your results with results of other traders too often.

I made that mistake in sports betting. But in the case of this crypto market. It is very good that the person observes various opinions of others in their technical analysis

bitzizzix

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Emotion in investing or trading is the worst enemy that can destroy and become a loss quickly, and must tighten in self-control and increase discipline in trading.
conduct trade research when you have experienced losses before and learn from mistakes and need to be corrected, make good calculations and analysis and involve choices with strong feelings to convince your choices and at least it will control your emotions and do it casually.

Blackdeath

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It is really hard to control your emotions in trading, especially if you are a beginner in trading that you can't handle the risk and if the coin that you are holding is starting to fall down badly. I think for you to control your emotions and to avoid panic selling while trading is you need to have patience and learn to set up your goal, so no matter what happened you are aiming on your goal and not thinking about panicking.

onrise

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Quote from: dioanna on November 11, 2019, 10:54:25 AM

This one is really hard bcoz of greed and FOMO, I admit this is one of my flaws
but I know it is possible if you have set your attitude right and have self-discipline.

If you believe in yourself you will be able to overcome it easily as you will have discipline in life and not be greedy that you want more and more . This will help you to restrict yourself and have a fixed goal for yourself and once you achieve it you will stop it.

adzino

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Emotion is something natural. Trying to suppress/control your emotion is trying to do something "unnatural". Instead of doing that, the better thing to do is to learn to reach in a proper way when trading instead of letting emotions take your decision.
The best way to react naturally is to "look ahead" for all possible outcomes when trading. This way you will always be prepared when anything happens even if it is something that is really bad.

wildan88

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Quote from: logicgate on November 13, 2019, 08:37:18 AM

Quote from: dioanna on November 11, 2019, 10:54:25 AM

This one is really hard bcoz of greed and FOMO, I admit this is one of my flaws
but I know it is possible if you have set your attitude right and have self-discipline.

Both these emotions could be controlled and reduced effectively with the help of meditation and yoga. FOMO is anxiety that makes you take decisions which probably you would not have if you were in right senses. As far as greed is concerned, this is evil trait of human beings which always makes us take wrong decisions with a hope of making big money. In order to avoid greed, we can set targets and simply stick to them.

I think to control emotions while trading, we have to be good at analyzing. because people who can analyze them have patience, besides that they also know when in and out. because actually people who can't control emotions are people who have no direction. because they are easily provoked, like FOMO.

LouVandetta

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Quote from: pant-79 on November 12, 2019, 01:20:13 PM

There is a telegram channel that I am in, the name is ekt pens and all they do all day is to forward messages made by investors/traders/hodlers who has lost money in the Cryptocurrency space, that is a pretty powerful FOMO killer in my opinion because anytime I get excited about an overhyped project, all I need to do is visit the group and read some terrible sob stories and I would remember to make every single trading decision with the utmost caution and extensive research.

Good idea actually, lmao. Seeing others' suffering or losses could make us remember how to be cautious and grateful about every little things. Controlling our emotions is by far one of the hardest thing a trader could control. Especially if one cannot bear to hold their horse's when it comes to trading. Especially fomo and fud, it's not a thing a newbies could pull it off especially under pressure. Don't let your emotions get the better of you.

PuertoLibre

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Quote from: dioanna on November 11, 2019, 10:54:25 AM

This one is really hard bcoz of greed and FOMO, I admit this is one of my flaws
but I know it is possible if you have set your attitude right and have self-discipline.

Being greedy is not bad at all. I mean who on earth does not want to have money. It is the only thing that can fulfill our basic needs and eventually desires. You should always desire for the most instead of more. That will solve the issue of losing control for little gains. As far as the FOMOs are concerned, this issue can be handles with knowledge. Just research about your coin and trust in it.

Humans tend to be greedy but in trading, the lack of emotional control will definitely have negative consequences. The effect of emotional trading will make the profit curve of trading account up-down and the stability will stay away from the trader under these psychological conditions. FOMO is a useless feeling unless there is no chance to catch the lower price in the future and in most times the price reverses back to the level which it started to climb higher.

samuraijin

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Quote from: coinmatics on October 10, 2019, 06:31:36 AM

⠀
Follow your own plans, don’t compare your results with results of other traders too often.👨🏼‍💼

this often happens in almost every trader, so that the emotions to get more profit cannot be controlled, because they always see the results of other traders and will never be satisfied until finally harming themselves, usually I every trade when I feel hungry , I will immediately eat something and if I am lustful I quickly go to the room to make love with my wife. if emotions are usually I prefer to be silent and aloof avoid trading

logicgate

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Quote from: dioanna on November 11, 2019, 10:54:25 AM

This one is really hard bcoz of greed and FOMO, I admit this is one of my flaws
but I know it is possible if you have set your attitude right and have self-discipline.

Both these emotions could be controlled and reduced effectively with the help of meditation and yoga. FOMO is anxiety that makes you take decisions which probably you would not have if you were in right senses. As far as greed is concerned, this is evil trait of human beings which always makes us take wrong decisions with a hope of making big money. In order to avoid greed, we can set targets and simply stick to them.

pant-79

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There is a telegram channel that I am in, the name is ekt pens and all they do all day is to forward messages made by investors/traders/hodlers who has lost money in the Cryptocurrency space, that is a pretty powerful FOMO killer in my opinion because anytime I get excited about an overhyped project, all I need to do is visit the group and read some terrible sob stories and I would remember to make every single trading decision with the utmost caution and extensive research.

makolz26

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Quote from: Asmonist on November 12, 2019, 08:17:33 AM

Well its really unevitable to feel mad or disappointed in trading. Sometimes you are most likely to be very aggresive and excited to invest in. You seem to be excited of your possible gains. Most likely you cannot control it. But eventually, after so many mistakes and struggles in trading you'll become mature to it. You can control your emotion and gain strategies on how to work on it. I think its just a matter of time.

That is normal as we know the market is so much unpredictable sometimes, as there were times when we did our part by doing a research, we did technical analysis, fundamental analysis and we are sure of what we are doing and we are sure of our entry but then all of the sudden it switch the wrong way, so it's really kinda stressing especially if you forgot to put stop loss.

Asmonist

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Well its really unevitable to feel mad or disappointed in trading. Sometimes you are most likely to be very aggresive and excited to invest in. You seem to be excited of your possible gains. Most likely you cannot control it. But eventually, after so many mistakes and struggles in trading you'll become mature to it. You can control your emotion and gain strategies on how to work on it. I think its just a matter of time.

Mumbeeptind1963

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Quote from: DeathProxy on November 10, 2019, 03:09:37 PM

Fear of missing out (Fomo) is what i have suffered from in times past and i learnt in the had way. So this day am very careful not do the mistake again. Any coin i missed out of buying when the price was low, i don't jump on it when the price is pumping. Once i don't find a good entry point before the punp i wait for another correction and good entry point before i dive in. This has affected many traders but once traders can keep their emotions in check they can maximize profit

We tend to feel this everytime we make a trade because of what happen in our past , we should make this painful memory into a motivation for us to look forward for us not to make it happen again. Our emotion is our biggest enemy , if we learn to handle it we can be a tough trader we cannot be easily get affected by bad news about crypto and everything and we can accept lose sometimes.

dioanna

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This one is really hard bcoz of greed and FOMO, I admit this is one of my flaws
but I know it is possible if you have set your attitude right and have self-discipline.

Lecam

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Quote from: coinmatics on October 10, 2019, 06:31:36 AM

One of the most popular emotions among traders is a notorious fear of missing out,
or simply FOMO, which picks when the market is high.📈
⠀
Watching the price of an asset soaring higher and higher, while out of the deal,
a trader often feels even worse than in case of losses.⚠️
⠀
So, what exactly can you do to prevent emotion-connected issues?
⠀
Accept the fact that you can’t buy at the lowest and sell at the highest prices;☝🏻
⠀
Don’t be looking at the charts all the time;❌
⠀
Use a trading plan ruling how to deal with profits and losses;📝
⠀
Follow your own plans, don’t compare your results with results of other traders too often.👨🏼‍💼

There's a lot of emotions when get into trading especially when you are buy coins in a high amount then after that coins will slowly goes down you can now feel the fear because you can lose your money. But one i tell once you in trading try to think positive and choose the good coins that you can trade and get a profit. Like ether you can buy ether now because the is goes down then set the price what you want to sell on it. Don't be afraid of your lossing because once you have good strategy you can get it back what you lose. Your emotions can lose all your money.

Yamifoud

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Emotions make people dead as well, not just in trading but in all aspects of our life. It comes into the moment when we try to test how strong we are and be reactive to a certain scenario. If we are in emotional trading, it surely our life in trading ended pretty quick and this is what it happens to some of us here. Our emotions can be control but not to think that it can be instant, it changes gradually if we work on it seriously.

Trading is sometimes stressful when we are an in-depth challenge, especially during the bearish season. Some traders quit because of this because they can no longer handle the stress and even bothered with their decision to take.

Visbay

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Quote from: Shimmiry on November 09, 2019, 11:39:06 PM

Quote from: febriyana on October 10, 2019, 08:54:35 AM

Before control emotions, firstly i already lose so many Bitcoin on trading. I am really mad and sad at that time.
I always try to learn from my lose. Every time i get lose from trading i learn something experience.
That is patience. We need some research before join in trading. Reading some news, studied what project we want invest, etc. That tips might help you.

Your 4 tips i think not all right.
I always see the chart too much. If i think that time is good, i will buy at the lowest price.

There are a lot of traders who can't control their emotions while trading. Most of them got feared because they were afraid to choose the right decision if they will proceed or not. The first-timer in trading felt excitement for the profit and taking the risk to earn on it, not all the time we win all those trade and not to gain benefit and realizing the regretting we did because we experience too much greed to the money.

Quote from: Hypnosis00 on October 10, 2019, 09:24:43 AM

Quote from: sheenshane on October 10, 2019, 07:00:59 AM

Great stuff, but this has been already discussed here in the forum. That is basic tips and nothing new on this trading tip.
I would suggest improving more your OP thread and the unbolded line would be fine.

Your references: Do You Need To Put Your Emotion in Trading ?
Trading tips
Four steps to successful speculation(2) and etc.

It sounds like it is already discussed at this thread https://bitcointalksearch.org/topic/getting-too-emotional-while-trading-crypto-5187272

But anyway...I have to add something in here...
The most common mistake of a trader is because they allow their trades driven by their emotions which it likely has a negative result. Losing what I meant to say. Maybe people could think that it was easy to control our emotion but you can find it hard when you tried to become a trader.

There is a lot of pressure to your self when it comes in trading, and you may be paranoid always to alert your self just checking the chart if the price is right to better trade, all of us are afraid to lose our assets but not all the time we can also win and gain profit. Make a goal that even a small amount of profit is good too because it increases your money.

I don’t think that a trader should take such tension or @ pressure about the market check. A trader should remain calm and not worry too much because it can cause loss to them. Just chill and learn about trading, you can check the market price randomly during break or while taking tea so just relax and trade for the long term if you find day trading stressful for you.

DeathProxy

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Fear of missing out (Fomo) is what i have suffered from in times past and i learnt in the had way. So this day am very careful not do the mistake again. Any coin i missed out of buying when the price was low, i don't jump on it when the price is pumping. Once i don't find a good entry point before the punp i wait for another correction and good entry point before i dive in. This has affected many traders but once traders can keep their emotions in check they can maximize profit

Topic: How to control your emotions while trading?👨🏼‍💻 - page 2. (Read 2036 times)