How to control your emotions while trading?👨🏼‍💻 - page 3.

Shimmiry

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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.

cryptothreads

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Quote from: TRONTON on November 09, 2019, 05:37:21 AM

Quote from: ?? on ??

That emotion of yours could either be from sudden reaction that will also disappear at a sudden and you'll get back to your own rationality in trading or you're driven by emotion that easily and that's a bad thing. Your emotion won't have a price in any market so you should be better of eliminating it. Set your mindset in a "Reason over emotion" while trading.

This is not always true if traders face huge panic losses, especially when playing margin, must always be disciplined with money management. No matter how bad our emotions are, we still need to know the limits of signing out in a state of not opening a position anymore. Time cannot be measured when we remember about profit targets, but we must cut losses immediately without any reason, especially when high emotions to cover losses arise.

Margin trading needs to be calm in any situation and if you panic all of that investment will soon disappear because margin is the riskiest trade in this market. In my opinion, psychology greatly affects investors and it takes a lot of time to practice. In fact the number of investors making a profit from margin is very low and it is impossible to predict the value of the coin in this market.

Before margin I usually have a very specific strategy and have to follow that plan because if there is no clear plan, you will soon lose all your assets when joini.

Triffin

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Quote from: tambok on November 07, 2019, 12:12:22 PM

Quote from: fullhdpixel on November 07, 2019, 05:24:13 AM

Quote from: aysg76 on November 02, 2019, 11:16:39 AM

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Once we wanted or we are currently doing trading, we must be very careful and aware that our emotion or our self is our biggest enemy. If this day, we are in a bad mood as something happened at work, or at home, then let's relax our mind first, let's clear things, we must not do trading at the moment, let's make time to recover our mood first. Once we are fine, then we can go on with it again.

Bad mood makes your mind dull which leads to awful decisions. Emotions make you unstable and decrease your concentration whereas trading is a job that demands hell of concentration in order not to miss any chance of buying or selling coins. I will never try trading especially day trading with bad mood. I will go for nap or some exercise to convert negative energy into positive and afterwards will start trading.

kanayaTabitha

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Quote from: ?? on ??

yes ; i think looking the prices or charts every moment not good at all because bitcoin is a global business with a large number of traders from all over the world.for this reason prices not stable . the good trader is who dont belive fake news too ; everyone should not worry about prices in short term

It's because bitcoin is decentralized and the bitcoin possesion is not even, so the old bitcoin buyer will have so much bitcoins right now and they can control the market movement. That's why it's become useless if we always watch the market because the market movement is controllable by the whales, we better prepare to chase market in any condition and don't have to play with our emotion so we'll live happily and our trades on going well

qwertyup23

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Quote from: Renampun on November 07, 2019, 04:01:41 PM

controlling emotions when trading will be very difficult if we don't set a limiting point
for example, we set in how much % the increase we do Sell, and how much % decrease we make a Buy or Cut loss
and one more thing we must remember, do not think to be rich in 1 night, greedy is the destruction all traders.

As someone who knows people who use trading as their main source of income and does it on a daily basis, I can conclusively say that trading really involves experience and skill at the same time. You have to be ready to risk a percentage of your capital and devote time in order to realize income. Although the risk may be high, the rewards are surely worth it especially if you successfully recover your winnings.

The main problem with trading revolves around the inexperience of people. Most usually trade using large amounts of money without even knowing the basics and fundamentals of it. Better to start and take things slow.

Edraket31

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Quote from: TRONTON on November 09, 2019, 05:37:21 AM

Quote from: ?? on ??

That emotion of yours could either be from sudden reaction that will also disappear at a sudden and you'll get back to your own rationality in trading or you're driven by emotion that easily and that's a bad thing. Your emotion won't have a price in any market so you should be better of eliminating it. Set your mindset in a "Reason over emotion" while trading.

This is not always successful if a trader experiences a large loss, especially when playing margin, must always be disciplined with money management. No matter how bad our emotions are, we still need to know the limits to signing out in a state of not opening a position anymore. Time cannot be measured when we remember about profit targets, but we must immediately cut losses without any reason, especially when high emotions to cover losses arise.

Exactly, I've known some and red some book that they lost some amount yesterday, and for them to be able to recover the loss, they were too aggressive today hoping and thinking they can recover it today too, so their emotion is too high, and what happened most of the time they are losing again, so trading with high emotion will not help you at all, better if you lost yesterday and you think you can't control your self then better to relax first today and come back in trading when ready.

TRONTON

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Quote from: ?? on ??

That emotion of yours could either be from sudden reaction that will also disappear at a sudden and you'll get back to your own rationality in trading or you're driven by emotion that easily and that's a bad thing. Your emotion won't have a price in any market so you should be better of eliminating it. Set your mindset in a "Reason over emotion" while trading.

This is not always true if traders face huge panic losses, especially when playing margin, must always be disciplined with money management. No matter how bad our emotions are, we still need to know the limits of signing out in a state of not opening a position anymore. Time cannot be measured when we remember about profit targets, but we must cut losses immediately without any reason, especially when high emotions to cover losses arise.

befriendmywater

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The problem is quite simple for veteran traders. In order to control your emotions when trading, you need to be in good health and a good spirit before trading. Besides, always have to set yourself the rules in the transaction and follow it in every transaction.
It is the best way to keep your mind on trading because you already have a plan in advance. That's the way I used to trade and I still have a good day to enjoy.

Best Dreams

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Quote from: tambok on November 07, 2019, 12:12:22 PM

Quote from: fullhdpixel on November 07, 2019, 05:24:13 AM

Quote from: aysg76 on November 02, 2019, 11:16:39 AM

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Once we wanted or we are currently doing trading, we must be very careful and aware that our emotion or our self is our biggest enemy. If this day, we are in a bad mood as something happened at work, or at home, then let's relax our mind first, let's clear things, we must not do trading at the moment, let's make time to recover our mood first. Once we are fine, then we can go on with it again.

Yes, self control is our biggest success as a trader as when I was new so at every price change so Many things started to come in my mind, these kind of thoughts can be positive and negative so in this time we should only stay stable and hold our coins to let things normal instead of taking stress and making wrong decision and also important not to let your other affairs spoil your trading earning.

Darooghe

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There are so many traders that are trading well in a demo account but when they trade in live account, their performance gets affected. To be a successful trader, you need to be financially as well as psychologically ready to bear the loss.

I think keeping a journal of your trading activity will help you understand where you went wrong as well as what you did well. this will help you rationalize your decisions better and keep your emotions in check. Ultimately, if emotions drive your trade, and tend to drive it poorly, automate you strategy. the technologies available today provide for ease of development for simple to complex automated trading strategies.

doomloop

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Quote from: alexsandria on November 03, 2019, 10:04:00 PM

Pretty hard to overcome specially if you're really devastated of what had happened. The only thing I can think of possiby to somehow control your emotion is that take a little break, go away from what you're currently doing, look outside, eat something. Emotions are pretty tough to control but you can somehow aid it with a little break, so that, it won't have a huge effect in your trading.

Usually day traders face this problem of staying under the strong influence of emotions. In my opinion, both extremes of emotions that are ecstasy and stress are bad for traders because under both situations they are unable to make decision by staying neutral. I often suggest pausing trading when you experiencing any situation by involving yourself into activity that uses your energy physically.

Renampun

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controlling emotions when trading will be very difficult if we don't set a limiting point
for example, we set in how much % the increase we do Sell, and how much % decrease we make a Buy or Cut loss
and one more thing we must remember, do not think to be rich in 1 night, greedy is the destruction all traders.

panganib999

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Quote from: palle11 on October 10, 2019, 07:36:08 AM

Comparison is really killing the trade business. Most traders have left their trading plan because they feel they are not making enough money but forgetting that they are suppose to believe in their skills and gradually develop the capital.

People are busy comparing theirselves to other people about where they are right now and where other people are. Thinking and seeing that the grass on other garden is greener thamntheirs but isn't doing their thing to make their own grass greener, instead they would copy other's planting strategy without knowing that there is healthier, greener and so much abundance waiting for them with their own strategy and just needs time to develop but then they would abandon it and try what might not suit them, this analogy is very much suited for trading. How jealousy and wanting other people's luck could ruin what has been planned and awaits you.

tambok

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Quote from: fullhdpixel on November 07, 2019, 05:24:13 AM

Quote from: aysg76 on November 02, 2019, 11:16:39 AM

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Once we wanted or we are currently doing trading, we must be very careful and aware that our emotion or our self is our biggest enemy. If this day, we are in a bad mood as something happened at work, or at home, then let's relax our mind first, let's clear things, we must not do trading at the moment, let's make time to recover our mood first. Once we are fine, then we can go on with it again.

fullhdpixel

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Quote from: aysg76 on November 02, 2019, 11:16:39 AM

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Cherylstar86

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Quote from: kanayaTabitha on November 04, 2019, 11:33:16 AM

Quote from: Clark05 on November 04, 2019, 10:10:36 AM

We are people and we are emotional and that's normal for us for being emotional. But applying it to the trading is not a good Idea and help to you because a trader who are emotional cannot avoid losing more money because if they are emotional they will be panic and sell the coins even that is not a good price or very low value.

Controlling emotion in daily activities is an easy task, but when it related to wealth or money, i think most of people will blind and follow their lustness. So controlling emotion on trading needs much experience of tradings and need much experienced of losses so they can feel the lost and feel the pain. If they never feel the pain of losing opportunity to get profits they will not able to control emotion because they always want more and hoping their coin can go up further

Base on my own sayings "experienced is the best learning". Each and everyone of us experienced such emotions like to be happy of our profits and to disappointed of our losses in which will become more attentive and aware the possibility to be loss again. Also, we can't deny the fact of our greediness that may lead to our losses and might our emotions is uncontrollable.

wajik-tempe

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Quote from: vintages on November 06, 2019, 06:54:31 PM

Quote from: Karmakid on November 03, 2019, 11:52:19 PM

One of the effective ways for me to control my emotions while I am trading is I don't look at the charts that often. I just set my take profit target and also the stop loss and after that I just do the other tasks that I needed to do. I always do this in order to avoid getting so emotional because the more you look at the chart, the more you will stressed out your brain and that is when you tend to make inappropriate decisions.

This will be very hard for some traders, especially during trading.
Though, when you aren't trading, looking at the chart is mostly not advisable and can be easily withstand. When trading many traders use the chart as a way of checking if they are selling low or selling high: especially about selling low. Thus us more reason it is inevitable.

But always looking for the chart means we're not determined our strategy first before we enter a trade. As a good trader we're not always to looking at the chart because we already know when to sell and when to buy.
Always looking for the chart is making our emotion not stable, more over we'll see another coin's chart that we're not investing in pumped out, and we will have desire to move our trade to that coin and that is a bad thing to do as a trader.

vintages

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Quote from: Karmakid on November 03, 2019, 11:52:19 PM

One of the effective ways for me to control my emotions while I am trading is I don't look at the charts that often. I just set my take profit target and also the stop loss and after that I just do the other tasks that I needed to do. I always do this in order to avoid getting so emotional because the more you look at the chart, the more you will stressed out your brain and that is when you tend to make inappropriate decisions.

This will be very hard for some traders, especially during trading.
Though, when you aren't trading, looking at the chart is mostly not advisable and can be easily withstand. When trading many traders use the chart as a way of checking if they are selling low or selling high: especially about selling low. Thus us more reason it is inevitable.

Hippocrypto

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Quote from: Btc_1856 on November 06, 2019, 01:54:15 AM

Quote from: kanayaTabitha on November 04, 2019, 11:33:16 AM

Quote from: Clark05 on November 04, 2019, 10:10:36 AM

We are people and we are emotional and that's normal for us for being emotional. But applying it to the trading is not a good Idea and help to you because a trader who are emotional cannot avoid losing more money because if they are emotional they will be panic and sell the coins even that is not a good price or very low value.

Controlling emotion in daily activities is an easy task, but when it related to wealth or money, i think most of people will blind and follow their lustness. So controlling emotion on trading needs much experience of tradings and need much experienced of losses so they can feel the lost and feel the pain. If they never feel the pain of losing opportunity to get profits they will not able to control emotion because they always want more and hoping their coin can go up further

The person will get much experience only when he loses money in trading and I think it is completely wrong because I have seen many traders who lost lots of money but still, they were afraid about the trading. Of course, the experience is one of the major criteria in trading sometimes even an experienced person will face the loos, he needs to implement his trading analysis in order to control the loss, it will easily help to control your emotions.

Our analysis is not a 100% guarantee to fulfill our trading successfully, it only contributes a little percentage but I don't think so that it would generally provide us the full package to withstand our struggles. When experiencing loss, don't be discourage, move on and find another options for the other coins. Diverting with other asset might be suitable, if we see more potential rather than present holdings then do it for your own benefit.

OgNasty

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Instead of trying to control your emotions, learn to profit from them. You feeling really good about a trade? Instead of bragging about it, sell and take some profits. The same can be said for the inverse situation. Mostly you should have a plan when you make a trade (entry and exit points), and stick to it so long as the fundamentals remain in place. The market gyrates, but long term trends are usually pretty easy to spot.

Topic: How to control your emotions while trading?👨🏼‍💻 - page 3. (Read 2036 times)