How to get rid of emotions when trading - page 24.

sheryl26

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Quote from: Koro-Sensei on June 12, 2018, 06:10:34 AM

Getting emotional for your money is normal but minding it for so long isn't. Getting rid of your emotions while trading might broke you. The right way to manage it is to control it example trading dedicate yourself into giving you heart and mind to pick the best suited for you being emotional on your loss won't give you knowledge instead learn from your mistakes and strong dedicate yourself from learning and soon controling your emotions will be natural.

That is true we cannot take away the fact of being emotional because that is one thing that makes us human we have emotions but of course over reacting into something is not a normal thing so it is a matter of self discipline because maybe in your childhood days you've been raised like that and now you are adapting that attitude into your work then I am saying that act like a man or be matured because minding the business problem for so long is for kids. Mind for a solution to the problem much longer dude.

Rufsilf

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You cannot get rid your emotions when trading because emotion is already there for a long time and the only thing that you can do in order to minimize the dominance of emotion is to have a self-discipline and also to have a strong plan or strategy that you can follow in order to trade very well and have a lot of successful trades.

medussa

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one has to practice emotional detachment when trading so as not to make grievous mistakes.

newwest

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Quote from: Rollkal on June 24, 2018, 07:06:47 AM

You should use the free funds to trade, do not bring all your assets into the transaction, so when the market drops as you are now worry and do not master yourself.

Their is no free funds available because somewhere somebody has earned t either through investment or it is inherited by someone. Only thing is that extra amount which you can afford to loose you should us in trading and keep it in mind that you may loose everything and you are still ok with this right from the start.

shimbark123

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It's really hard to get rid of these things in trading. I, was once a victim of my own emotions in trading. It's so hard to fight back against it. But try to step by step lessen those things. That should help it.

ericaltm

jr. member

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Seems like some people are acting like they know everything about trading. If you truly want to remove emotions you MUST do the following.

1. Setup and entry plan -> Let's say we want to get 1BTC for $5000, then we will wait until it is that price, or we can say that we just buy 1BTC at the current market price (whatever that might be at that time)
2. How much do you want to gain? Since this is an example let's assume we want to get 10%, and taking back the example that we buy 1BTC for $5000, we would calculate that we will hit a 10% gain at $5500.
3. CASH OUT THAT $5500 no matter what. This was your plan since step 1, so why not stick to the plan.

See here that I never mentioned I want $500, or I think Bitcoin will go up or down.

It is simple, just enter and exit when you have realized the gain that you wanted. (Same way goes for if the price goes lower after you buy, set up a max% that you want to lose or just HODL. However, investing is always a risk you are taking, so never invest money you cannot lose.)
This is just my strategy and has been working

Hope it helps others

entrepmind23

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Quote from: crazycatwoman03 on June 24, 2018, 05:20:37 AM

That is a common problem in here, having newbies who don't know much about cryptos. Some of they think that earning cryptos is literally easy that is why when dump happens, they are the ones who get terrified the most. For me, we can't get rid of the emotions that we get when we are doing trading but we can learn how to control it. When one is planning to do trading, he must keep in mind that emotions play a big role in making decisions. We will use analysis and of course experience when we trade but our emotions can get kind of mixed up.

We are all noobs at the beginning but there are people who get past that and excel in it while others who quit very early and stayed being noobs. Being emotionless can only be done when you are doing something over and over again that you will reach a point when you are already familiar with the situation so you are not affected by any circumstances. You can get done what you are suppose to do because you already have a plan whatever happens whether the price go up or down. In short, you just need a lot of experience to be able to control your emotions.

MMnoob

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one way to get rid of emotions when trading is you must know the risks of trading it can be a loss so when you experience it you will not emotion. and most importantly you should be able to prevent losses to avoid emotion, patience is the key to success.

supergorg27

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When you go in trading you should ready with your emotions and ready to take the risk whether you win or lose, do not invest all your funds, have safety for yourself.

Rollkal

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You should use the free funds to trade, do not bring all your assets into the transaction, so when the market drops as you are now worry and do not master yourself.

napi

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you better when trading more can keep the emotions you have and better you can control your patience to be able to generate profits very much.

crazycatwoman03

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Quote from: bncbnc on June 24, 2018, 04:46:08 AM

Quote from: george888055 on June 22, 2018, 11:32:17 AM

Emotional trading can blow up your account so you must get your emotions under control.

That is something natural, and one cannot get control over his emotion so easily, may be it can only be possible if you will spend some time in market. If you are new and do not know too much about the nature of the market, you will remain as careless and will never try to control your emotion, but with the passage of time you may be able to control your emotions.

That is a common problem in here, having newbies who don't know much about cryptos. Some of they think that earning cryptos is literally easy that is why when dump happens, they are the ones who get terrified the most. For me, we can't get rid of the emotions that we get when we are doing trading but we can learn how to control it. When one is planning to do trading, he must keep in mind that emotions play a big role in making decisions. We will use analysis and of course experience when we trade but our emotions can get kind of mixed up.

Semosuchi Tesongrato

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In theory we should proceed in a rational way, and not be overwhelmed by emotions, using strategies that minimize losses and maximize earnings.
In practice, especially now, panic is always lurking.

bncbnc

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Quote from: george888055 on June 22, 2018, 11:32:17 AM

Emotional trading can blow up your account so you must get your emotions under control.

That is something natural, and one cannot get control over his emotion so easily, may be it can only be possible if you will spend some time in market. If you are new and do not know too much about the nature of the market, you will remain as careless and will never try to control your emotion, but with the passage of time you may be able to control your emotions.

kidamazo

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Quote from: cydrix on June 19, 2018, 12:42:07 AM

Even with preparations you can't get rid of your emotions your anhuman being you can still worried from your own money. But if your with silver spoon i think even investing millions you can't even feel it because you don't work hard for it. Well after all it depends if you worked for it or not.

I have invented a way to get rid of emotions, simply you can became a robot, lol. Because otherwise I never cannot do that. I even drink some seductive sometimes in order to be more Pacific.

muratdur

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I can say from my own experience that it is almost impossible to do because you are trading your own money that you have earned with hard work you just cannot be calm in this moment.

Omega Weapon

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Quote from: Missterio on June 19, 2018, 12:36:41 AM

A good way is to use a small amount that you do not mind and you can afford to lose it and for you it will not be catastrophic. and then you will feel much better and experience less.

Unless you are awfully rich this is not a good strategy to implement after all if you want to earn profits that can change your life then you need to invest an amount of money that is meaningful to you and that can only be done by investing most of your capital in cryptocurrencies, which means you need to find a way to deal with your emotions or you will surely lose money when you lose control of them.

george888055

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Emotional trading can blow up your account so you must get your emotions under control.

cryptobluemoon

newbie

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this is well-written article i really liked all the points mentioned here we should utmost patience while trading bitcoin and altcoin trading and follow the rules given thank u for sharing ur views

mrclark

newbie

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One solution is to keep the feelings. It is by hold the coins as long as possible. When this is usually someone can not stem their feelings and emotions. You started to trade just try to think positively. Trading is not something that can be rushed into as you keep learning every day. I would be worried too because my hard earned money is on stake. We are getting greedy because you are planning for your future so stop thinking about the future. Well after all it depends if you worked for it. You will feel much better and experience less. If a trader already has experience of his activity.

Topic: How to get rid of emotions when trading - page 24. (Read 3922 times)