Experience might be the best remedy.
After incurring losses due to emotions you might think it wise to ignore your nature (easier said than done)
You can also get a bot to do the trading for you.
Topic: How to get rid of emotions when trading - page 21. (Read 3922 times)
If I think emotions are very difficult to control. What else is in effect in trading as well. Maybe we need to know how to control it. I think the only way for us to not have emotions is to keep ourselves constantly looking at their Bitcoin or Altcoin prices. It is best to have a strategy.
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?
I liked your analogy with 'fighting lions in the Savannah'
Still... yes, we should control our emotions during trading, but worrying is a part of human nature. We can't eliminate that totally. We can only learn how to behave in one or other situations, or suppress our emotions for a while. At the same time it is quite possible to control ourselves. For example I only trade when I’m in a good mood and nothing bothers me, it increase chances that I’ll keep on being calm. We can't really get rid of emotions because we are human beings and its a part that of us. But for me the best way to do is try to relax,chill a little bit and don't over think too much and don't risk everything. Keep calm,control your emotions.
Yes in trading we have to deal everything wisely and slowly, because being in rush can pull all your profit to the loss, being a trader, it is good to keep your emotions and over thinking away, think positive in the negative situation of fallen price, it will be good if we will keep on buying even when the price will be almost zero. Well being emotional is natural but don’t let your emotions hold your trading and investing strategies.
We can't really get rid of emotions because we are human beings and its a part that of us. But for me the best way to do is try to relax,chill a little bit and don't over think too much and don't risk everything. Keep calm,control your emotions.
I think you would not be able to succeed in that, no human can not get rid of emotions even the professional players in poker, they're trying so hard, but sometimes they fail. Even those guys.
Yes, we cannot able to justify everything in minutes, so it is impossible to control the emotions and it will lead to losing. Even though they very good experience at trading we have to control our emotion in order to efficient in future trading.
As strong as holding back emotions in trading can not be endured unless we do have to realize we do not get greedy in this Cryptocurrency trade.
Just like Cats who given fish 1, then when given a second fish must be the cat will eat it until his stomach hurts. We are human and Cryptocurrency can not be guessed, so hold up your emotions and always be grateful when luck in this Cryptocurrency trade.
Just like Cats who given fish 1, then when given a second fish must be the cat will eat it until his stomach hurts. We are human and Cryptocurrency can not be guessed, so hold up your emotions and always be grateful when luck in this Cryptocurrency trade.
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?
I agree, before you trade you have to make a plan on what to do. Emotions are very hard to deal with, specially when losing money. That's why it's better not to trade when you are not 100 focus and not have a backup plan.
For me it's just impossible, maybe I can just cut a small amount of my negative feeling, but not more...
If it is impossible for you to overcome your emotions when you are trading then it is a good idea that you never become a trader, and if you are, it could be a good idea to leave it, while this may seem like too much for some members of the forum the fact is that the ability to keep your cool under very difficult circumstances is what determines the winners from the losers in most aspects of life. To get rid of emotions when you are in trading, be ready for yourself whatever loss will happen, target the price you want to get in through, more learnings on the project you want to trading in.
We can't totally control such emotions cause we are humans unlike robots. The only thing we could do with that is to try and learn to be strong in times of crisis happen. And it is better to enjoy our self doing other stuffs and forget crypto for awhile to lessen stress coming from looking market trend continuously dropping. I think we’ve all experienced panicking and and closing our trades into unfavorable markets. I get used to it as i trade almost everyday eventually i lost my emotions. I guess that's one thing how to get rid of our emotions. Well mostly new traders are emotional but you will get used to it as you trade actively.
hard to avoid we cant control our emotion how we can be avoid some panicking we can actually all experience that for that so learn to handle it at first of course you cant be able to know everything on it unless you may have some strategy well an experience can be your guide on it.
To get rid of emotions when you are in trading, be ready for yourself whatever loss will happen, target the price you want to get in through, more learnings on the project you want to trading in.
We can't totally control such emotions cause we are humans unlike robots. The only thing we could do with that is to try and learn to be strong in times of crisis happen. And it is better to enjoy our self doing other stuffs and forget crypto for awhile to lessen stress coming from looking market trend continuously dropping. I think we’ve all experienced panicking and and closing our trades into unfavorable markets. I get used to it as i trade almost everyday eventually i lost my emotions. I guess that's one thing how to get rid of our emotions. Well mostly new traders are emotional but you will get used to it as you trade actively.
I think you would not be able to succeed in that, no human can not get rid of emotions even the professional players in poker, they're trying so hard, but sometimes they fail. Even those guys.
At the end of the day no one is going to get rid of emotions entirely. Its mostly about controlling them. Best way is to have a strategy and follow it.
Exactly, no matter how professional you work as a trader, there will be always those times when you will lose hope because the market price is dumping very hard and the only thing you can do is to hold your coins to avoid losing more of your investments.
Well since it's given that emotions will always be in play whethet we like it or not, it's how you deal with it that matters. Avoid doing things that could trigger an emotion-based decision, like constantly checking the market and your assets. Do other things when the market is down. These actually are things you should've expected and prepared for even before buying your first btc and alt
The emotional person cannot become a successful trader. He can start to panic very easily and make some serious mistakes. Some docs even recommend these guys taking antistress pills but better to deal with the problem yourself.
I always try to focus and do something different whenever I experience a bad mood and feel like I am in tilt mode. Meeting my friends, eating some snacks usually make good sense .
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?
I think getting rid of emotions when trading is very difficult and you have to practice it often and for a long time. The market is constantly fluctuating and feeling fear always makes you unable to succeed in the transaction.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?
I think the best solution is to analyze it carefully and to come up with a specific plan and to comply with it so that you can minimize the risk and get the profit you want. You also have Stoploss in your plan.
Do not check your investment from time to time because we already knew how our investment goes at the moment
. I guess it wont help since all are down but instead get busy by joining in any bounty.
. I guess it wont help since all are down but instead get busy by joining in any bounty.
You need to try control you emotional. But it doesn't mean that you need to turn off it totally. I think you must be positive emotional when you trade but you need to control some negative vibes.
Learn by your mistakes. Get mad if someone cheats you!
That way you will still be able to smile when they catch fire.
That way you will still be able to smile when they catch fire.
Controlling emotions is usually seen as next to impossible, but in reality you CAN take control, although it is by no means easy and takes a lot o time to master.
One of the best ways to start off is to learn not to get your emotions involved in ANY aspect of your life and first of all try not to react in any way even when something good happens. Having mastered that, it will be way easier to keep calm with some negative events... This is like a general idea
Works for me!
One of the best ways to start off is to learn not to get your emotions involved in ANY aspect of your life and first of all try not to react in any way even when something good happens. Having mastered that, it will be way easier to keep calm with some negative events... This is like a general idea
Works for me! 
To get rid of emotions when you are in trading, be ready for yourself whatever loss will happen, target the price you want to get in through, more learnings on the project you want to trading in.
We can't totally control such emotions cause we are humans unlike robots. The only thing we could do with that is to try and learn to be strong in times of crisis happen. And it is better to enjoy our self doing other stuffs and forget crypto for awhile to lessen stress coming from looking market trend continuously dropping. Jump to: