Even though it might seem strange, I like to track the "emotions" of my "fellow" traders: https://enroyd.com/btc_sentiment/
When I see that the long-term sentiment trend is positive, I hodl even if the price goes down. I cannot guarantee that it works, but....
does it make sense?
Topic: How to get rid of emotions when trading - page 13. (Read 3935 times)
In trading there are gains and losses. That is normal. No need to get emotional for any loss. It will surely not change anything and it will not change at all. To get rid of emotions, set your boundaries and limits in trading. Do not focus or think of big profit in a short period of time. That is very risky. Look for good long term investment.
You have to focus and control your emotions when you are doing trading because if your emotion controls you then you will lose what you have invested. You have to study first how you can control your emotions because if you do not study how to control your emotions then it will lead you to lose your coins. So when you plan to trade you have to study how to play with the price so that you will not put some emotions in trading so you will not lose.
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?
...Be that as it may, shouldn't something be said about enormous outcomes? You can't simply accomplish anything greater as yield on the off chance that you input isn't that much correspondingly greater. For greater outcomes, there is enormous push to be put and for it you need to hold onto greater unsafe choices also. Great merchant dependably fined best decision and receive it when he thinks that its appropriate for profiting. Try not to get anxious of overwhelming dangers. 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?
at the end it's all about commitment. you have to constantly analize and work on yourself
Good plan... I think the best thing one can do is to trade with a small amount of money and think of it as a gamble (5% or less) of your worth. The bigger the risk, the more attachment you have to the decision which definitely involves your emotions.
But what about big results? You can’t just achieve anything bigger as output if you input isn’t that much correspondingly bigger. For bigger results, there is big effort to be put and for it you have to embrace bigger risky options as well. Good trader always fined best choice and adopt it when he finds it suitable for making money. Don’t get afraid of heavy risks. Emotions is being right there always, we cannot skip it or disregard but we are humans and more powerful on this. You don't need to turn your intentions into other matters because it will not going to solve your problem with emotions when you are in trading instead adjust it slowly as you can.
I agree with you. We should be the one to control our emotions to get rid of uncertain wrong decision making. It is important that we'll know how to handle our mind set towards the goals that we would want to reach. We must learn how to get rid of too much emotions in trading through it is normal. Our ability to make right decisions depends on how we control the things around us.
it is an important thing when trading, holding back emotions when trading is very difficult therefore many traders who fail because they can not restrain their emotions.
This is not like deciding during the course of red market to stay calm. One should be wise and learned enough to know important things before investing in crypto.A business mind set matters a lot. If you have a business mind set, you will be able to overcome emotions while trading and this will help you a lot. The red market should not be taken so serious because it does you no harm, but only requires you to hold your assets and wait for the right time to collect profit.
It is very hard to control your emotion when you trading. But remember, practice make a man perfect. So you can try this. Select your target both for-profit and loss. Make sure about your sixth sense what it said while you trade. Hear the sound and command from your mind. Meditation can be the best doctor for emotion control. Stop trade always immediately if you face two lose continuously. Don’t over trade and always avoid to increase your amount to trade if it goes loose. It means if your first trade seems 2$ goes lose then never trade more 3$ or 4$.
In my opinion, I have been reading articles about discipline and how to control your emotions when trading. From experience, the best way to get rid of your emotions when trading is to have a strict and effective trading strategy and you have to be disciplined about it to the core. This is one of the ways to detach emotions from trading
Every traders will always felt something when the market prices are dropping so there's no way for people to get rid of emotions because it was necessary to felt it, the best thing to do is just hold your coins to avoid losing your investments.
I think you should do your best to avoid negative emotions because it is very important for a successful trader and you should do your best not to feel negative emotions in order to reach your goal
There are many possible ways to do that but I can say that you cannot fully get rid of emotions because you're not a robot. The only 100% way is to write a bot, lol. He would trade instead of you without any emotions.
You must be prepared for a variety of emotions so that you can monitor them, instead of letting them control you. And keep in mind you are your biggest enemy because of your emotions.
stifling emotion when trading is difficult for beginners because trading in crpto you must be able to manage the emotions and the key to successful trading in crypto is patient.
Try to forget, do not worry too much about the current market, maybe they will make you stress. If you do not try to forget them, or can play the sport to reduce stress.
one mentality I find very usefull:
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future
most of it you will be learn by your own experience that you may ever have to encounter with. You may know that when you are out of your emotions yet and you follow what your emotion you have to do some are may result of loses so being the way that you know how are you may control this based on your experience you can be able to control it for.When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future
yep. control is everyting. never get into a trance like trading state
one mentality I find very usefull:
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future
most of it you will be learn by your own experience that you may ever have to encounter with. You may know that when you are out of your emotions yet and you follow what your emotion you have to do some are may result of loses so being the way that you know how are you may control this based on your experience you can be able to control it for. When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future
Trading profits are completely based on patience because if you buy a coin at a high value and then suddenly the price drops lower, at this condition it will test your patience because we cannot able to sell them for cheap and the best option is to hold the coin until the price starts increasing again.
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?
We truly can't dispose of feelings it is as of now part of each exchanging. We ought to figure out how to acknowledge the dangers that we will face and remember that the crypto showcase is unstable that anything can happen it can come about also to huge misfortunes. 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?
one mentality I find very usefull:
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future
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