Topic: How to get rid of emotions when trading - page 10. (Read 3922 times)
It is something that depends on person to person and if you an emotional being then you can’t do much.
Practise! Practise Practise! The more you associate the happenings in cryptocurrency with your emotion of fear, sadness or happiness, the more you are control by them! See your trading as numbers and relate with it that way!
I think emotions are treated in trading and because it is a form of living things that are natural if we have emotions. I read what you wrote but I don't really understand which part you meant to get rid of emotion, because in my opinion the 4 things you wrote were not including emotion rid. Some article writers say fear and greed are things that are a failure in trading, but that depends on how your strategy applies, even though there are still some emotions that can lead you to got profits from trading.
It is always good to stay away from the market in order to control the emotions, because when the market is going done we have to keep silent until where the price are going. In this way, we can buy them at very low values in the market.
control over emotions is very important in trade and not everyone can manage emotions. you need to train hard on this.
When you are trading consider what you do as a job which aim is to make money or to be profitable in the long run. We do not use emotions their because most likely this emotion will only lead us to wrong decision making, whales are making the weak hands dump, we should not belong to the weak hands in order to survive in this risky game but rewarding one.
It is difficult to get rid of emotion when trading.
Every human is bound to have emotion but it's how
we deal with it that matters a lot and when it comes
to trading bitcoin and cryptocurrency there are no
exception.
To me, dealing with emotion when trading is to understand
that trading can go side ways and you are aware of that.
Secondly, is that you don't get greed when trading otherwise
your emotion will take the most of your trading and will result
to you losing your trading.
Always know your limit and how much are willing to lose.
Learn from yours and other traders mistakes. Hopeful
these few points will help you deal with emotion when
trading.
Every human is bound to have emotion but it's how
we deal with it that matters a lot and when it comes
to trading bitcoin and cryptocurrency there are no
exception.
To me, dealing with emotion when trading is to understand
that trading can go side ways and you are aware of that.
Secondly, is that you don't get greed when trading otherwise
your emotion will take the most of your trading and will result
to you losing your trading.
Always know your limit and how much are willing to lose.
Learn from yours and other traders mistakes. Hopeful
these few points will help you deal with emotion when
trading.
control over emotions is very important in trade and not everyone can manage emotions. you need to train hard on this.
No emotional person ever become profitable in trading. Trading requires discipline and patience which emotions is against. The first step in getting rid of emotion is to realize that two things are inevitable: either you lose or you gain. When the former happens, risk management is the cure and not emotions.
yes it is very difficult to accept defeat and realize that trading risk is part of the risk that must be faced. This emotion always says "I have to get a profit" this may be something that must be resisted.Emotion is an important part and I can't control it, it's very difficult to get rid of panic when prices fall.
The best way which works for me personally is to consider those as just a game you should not think about those numbers on the screen as you're actually turned or lost money, only money which is earned is the vipers that you're holding in your hands.
know the risk of losing and successful trading in crypto first, it will help you regulate emotions.
Our brain is hardwired to go into a fight or flight mode under stress, resulting in emotional responses like greed (taking too large risks), anger, fear (panic-closing) or fear of missing out. While this is a good thing when fighting lions in the savannah, it is a horrible thing when trading, and you need to make smart decisions and keep to your plan to keep making profits.
This topic will focus on how to get rid of emotions while trading, or at least make the best decisions which are not based on emotional responses of our ape brain. So how can we achieve that?
1 with good preparation
2 with checklists
3 with process orientation
4 with active emotional detachment
Good preparation:
If you watch a Football game or a Boxing match usually the team or player wins that has done the better preparation. The same goes with trading. Accumulate knowledge about the subjects of trading as much as possible. Start with small amounts and small leverages until you really know what you are doing. Be consistent, create good habits early on and keep them up. Make sure that you are mentally fit, live healthy, eat well, sleep enough and regularly, and exercise enough. Have a schedule. Track your preparation, track your results and analyse them. What were mistakes you could avoid in the future?
Checklists:
When things go down and away, it is always good to have a checklist. For example: surgeons usually have checklists that prevent them to go off the rails while performing a complicated procedure. Their checklists makes it absolutely clear in which order they need to perform what step, which frees up mental brain power for the actual process. So from your past make checklists what made your trades profitable and focus on those kind of trades that have done well in your past.
Process Orientation:
With the checklist, we should be able to make good trades more often than not. All we need to do now is focus our metal brain power on the process and not on the outcome. As we have built enough expertise and a checklist that we follow, we focus on rules and our discipline, not on the outcome of a single trade, because as we all know one trade can always be good or bad, independent of how well it was thought out.
Active emotional detachment:
There is something called Tilt in Poker. Some players will actively try to insult players after bad beats to make the go tilt, or "emotional". This will result in very bad decision making. Maybe you remember Zinedine Zidane in his very last World Cup Game, head butting the italian player and getting sent of the pitch with a red card. The worst possible outcome. TILT.
If you still feel like you get emotional about trades, there are a few things you can do: Lowering your margins, lowering your leverage, take a break, breathing exercises, watch your favorite series or listen to music. Get a little distance to your trades, before continuing. NEVER trade on TILT.
How are you dealing with your emotions? Anything to add or to take away from this?
This topic will focus on how to get rid of emotions while trading, or at least make the best decisions which are not based on emotional responses of our ape brain. So how can we achieve that?
1 with good preparation
2 with checklists
3 with process orientation
4 with active emotional detachment
Good preparation:
If you watch a Football game or a Boxing match usually the team or player wins that has done the better preparation. The same goes with trading. Accumulate knowledge about the subjects of trading as much as possible. Start with small amounts and small leverages until you really know what you are doing. Be consistent, create good habits early on and keep them up. Make sure that you are mentally fit, live healthy, eat well, sleep enough and regularly, and exercise enough. Have a schedule. Track your preparation, track your results and analyse them. What were mistakes you could avoid in the future?
Checklists:
When things go down and away, it is always good to have a checklist. For example: surgeons usually have checklists that prevent them to go off the rails while performing a complicated procedure. Their checklists makes it absolutely clear in which order they need to perform what step, which frees up mental brain power for the actual process. So from your past make checklists what made your trades profitable and focus on those kind of trades that have done well in your past.
Process Orientation:
With the checklist, we should be able to make good trades more often than not. All we need to do now is focus our metal brain power on the process and not on the outcome. As we have built enough expertise and a checklist that we follow, we focus on rules and our discipline, not on the outcome of a single trade, because as we all know one trade can always be good or bad, independent of how well it was thought out.
Active emotional detachment:
There is something called Tilt in Poker. Some players will actively try to insult players after bad beats to make the go tilt, or "emotional". This will result in very bad decision making. Maybe you remember Zinedine Zidane in his very last World Cup Game, head butting the italian player and getting sent of the pitch with a red card. The worst possible outcome. TILT.
If you still feel like you get emotional about trades, there are a few things you can do: Lowering your margins, lowering your leverage, take a break, breathing exercises, watch your favorite series or listen to music. Get a little distance to your trades, before continuing. NEVER trade on TILT.
How are you dealing with your emotions? Anything to add or to take away from this?
Nice list. But no.4 only applies to me
the way to get rid of emotions when trading is that you must still feel grateful even if you get a little profit, the right way to get rid of emotions is always grateful.
I think that is natural, I do not think that it is so easy to get rid or to control your emotion while you are trading, you can partially control your emotion if you have good experience in trading, for new comers I do not think that it is so easy to control their emotions. 
Don’t be attached to the money that you are putting in for the bitcoins.
This is easy to say than done. Well if this money came from your hard work, extended overtime pays, and etc. This is hard not to be attached to it. We all know that trading requires a lot of courage since we are talking about money and risk. *Not unless the money that you are putting is not yours, or you are one hell of a millionaire*
Emotions are indeed a hindrance or an obstacle in this type of industry, Honestly you can't literally get rid of these emotions while trading, hence you can only limit it. It's impossible for a person to be emotionless in dealing such activities.
In my opinion and based from experience as well, I normally do this:
1. Preparing myself in every situations that might possible to happen - Having that said, before I started trading I did study the industry first and literally written down all the possible outcome whenever this happen and etc. In tagalog I call or we call it "Advance ako mag-isip" or advance thinking, well It's better to be cautious or extra careful than to be sorry.
2. Study the market (depends on what market you are trying to penetrate with) - This relates on the first one, After studying the industry, I now study the market I wanted to invest with. Knowing the pros and cons of it will give you an advantage.
3. Making strategies (Plan A-Z) - In relates to 1st and 2nd, whenever let's say you landed on the market you wanted to invest with. It's now the time to make the strategies, on how you will survive and earn from it. A personal advise, don't just settle for Plan A and B. Like what I've said be prepared for the possible things to happen, If I were you, I would literally set a Plan up to Z. *Better be prepared than to be sorry*
That's just some of the things I do, when I started trading. Emotions will always plays a big part in this industry. Just don't let it get in your way, prevent it or stop it by setting plans, organize every move, and feeding yourself the proper information and maximize every tool available.
This is gained with experience. Only people who can control their emotions achieve real success in trade.
the emotions will always be there when your money is involved, I think planning and working with a set target will go a long way
Usually I am preparing myself to the process of trading, I listen to the calm and positive music, usually I am drinking green tea with mint. You can think that I am kidding but this is real, I'm trying to be as calm as it is possible.
Your plans are quite interesting. But in my opinion you are thinking in terms of getting out of the deal, you relax for the stress you are dealing with. In my opinion, looking at the price, doing the right things, considering the transaction is a serious job, that is the right choice The most important thing for the investor is to have patience. Many newcomers rush to make a profit and are mistaken on this.
The safety rings only be suitable with the field is currently in the restoring phase, the kien ring in the loss of the stage lossed the ro ro. Failed to wait to take it added the number of you have already in, do you should not be nhẫn and waiting when the price shrinking the weak, you should truncating
Don’t be attached to the money that you are putting in for the bitcoins.
it is one of my obstacles also in regulating emotions learning to get used slowly so that you don't have greediness.
If you want to be a professional cryptocurrency trader so it is very important to control your emotions because emotions are very sanative part of trading. I'm always trying to trading ten times in a day if I lose again and again that means ten times lose on that time I stop my trading and after one later I start my trading again.
Jump to: