Thank you for this information and advise as many of us has been placing and closing trade because of panic and emotional imbalance. Understanding the nature of cryptocurrencies market and illiquid assets trading will help us ride our emotions during trading. Many traders has loose bitcoin because of panic selling. If you know how this market work it is easy to control your emotions. Bitcoin market has it own mind and you should always follow it trend if you want to succeed.
It seems to me that any person is subject to emotions and he will show them in any situation, Let it be either joy or irritation. It seems to me that all thoughts interfere with focusing and realizing their opportunities for trade. Although to behave in the hands is also a great art, like to have a huge experience in trading. 
Topic: How to get rid of emotions when trading - page 28. (Read 3922 times)
Thank you for this information and advise as many of us has been placing and closing trade because of panic and emotional imbalance. Understanding the nature of cryptocurrencies market and illiquid assets trading will help us ride our emotions during trading. Many traders has loose bitcoin because of panic selling. If you know how this market work it is easy to control your emotions. Bitcoin market has it own mind and you should always follow it trend if you want to succeed.
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.
Getting emotional is not normal as long as you know what you are doing. With full confidence that you are making the right decision, buying, selling or stopping loss, you will not place emotion by the side anytime you are trading at all. This is one important thing to always take note of as trading is not a child's play and you will need a lot of skill and knowledge to pull you through and without that, emotion is bound to always take a hold of you anytime any day with silly mistakes you would not have done normally if you had taken the time to learn. 
Akcepting loss is also important. Knowing that in trading nothing is certain. There is not a single trader that have 100% profitable trades. Thats why when you are trader you should consider your trading as a work and lost trades as a money spend on fuel to get to work. That will help you get over it without emotions, skip loosing trades and move on to next trade because you can do everyfing correct, made best analysis but still fail. Thats how it works.
Accepting loss as quickly as possible based on your strategy is always one thing to always know how to do in trading and that would help a trader hugely. That is where the main challenge of any new trader has always been most of the time even after learning and they tend to find out that if they had made decisions to stop loss at where they should have based on their knowledge without any emotion, they will do better.It is normal but that is where experience now gradually comes in as one gets better making decisions without any form of emotion in the long run.
basically all you need is a good plan ahead of yourself so that you can stick to it and know what you must do under different circumstances.
for example when you buy an altcoin named X you should set 2 price levels for yourself. 1 for when price rises (everything goes according to plan) and you want to sell. during pumps it can be any percentage for example 10% profit or 30% profit is the most common ones but you can sometimes go as high as a 100% profit during a pump. sometimes setting a time frame also helps like saying 10% in 3 hours or 100% in 24 hours.
another 1 for when things don't go according to plan and price falls under the level you bought altcoin X at. this is known as Stop Loss. in a highly volatile market it is hard to set this but it is a good thing to have. somewhere around 5 to 10% is a good place for me.
for example when you buy an altcoin named X you should set 2 price levels for yourself. 1 for when price rises (everything goes according to plan) and you want to sell. during pumps it can be any percentage for example 10% profit or 30% profit is the most common ones but you can sometimes go as high as a 100% profit during a pump. sometimes setting a time frame also helps like saying 10% in 3 hours or 100% in 24 hours.
another 1 for when things don't go according to plan and price falls under the level you bought altcoin X at. this is known as Stop Loss. in a highly volatile market it is hard to set this but it is a good thing to have. somewhere around 5 to 10% is a good place for me.
Sounds like a real trader dude the question is 'are you really a trader'?
Emotions is part of being alive and anything we deals our mind for sure will react unless youre in comatose so function is not necessary.
In trading mix emotions are part of thrill what we only need to prevent is panicking because this is the only mistakes you might commit if didnt controls
Emotions is part of being alive and anything we deals our mind for sure will react unless youre in comatose so function is not necessary.
In trading mix emotions are part of thrill what we only need to prevent is panicking because this is the only mistakes you might commit if didnt controls
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 would suggest you feel the emotions which come up under these circumstances, rather than act on them. As the reactions you are feeling are in you for a reason (stored up and not felt)
You judge emotion quite strongly in this post, if you allowed yourself to experience some of the fear/grief etc WITHOUT acting on it i.e executing a trade - you will come out the other side much more level headed and with the understanding of what was driving you to take that action in the first place.
Good luck!
I can say that you can't rid of your emotions while doing something, just like trading. I can say that you should expect less when it comes to income, don't expect big, you'll only feel stress if you haven't got what you expect. It's better to have something that you don't expect. And also be wise and mindful when it comes to transaction, so you won't be fooled easily.
I'm not trying to spoil the party, but if after hundreds of years of traditional trading history people still haven't figured out how to deal with emotions, they never will.
Markets consist of 90% emotion based traders, 5% skilled traders, 5% market makers not needing anything other than their capital and technological advantage to profit. The percentages are rough numbers since it can't be measured precisely, but it is somewhere along these percentages. Average joe type of people just need to accept that they inherently are destined to lose.
The only way for average joe people to profit is by luck.
Markets consist of 90% emotion based traders, 5% skilled traders, 5% market makers not needing anything other than their capital and technological advantage to profit. The percentages are rough numbers since it can't be measured precisely, but it is somewhere along these percentages. Average joe type of people just need to accept that they inherently are destined to lose.
The only way for average joe people to profit is by luck.
Just focus yourself and try to do not be greedy, because you are going to lose all your money because of that. Remain relaxed, and you will be fine if there is a bulltrap
The question to this is that, is there a way that emotion can be taken out of human life? And the answer is no because in every thing we do, emotions are involved both in decision.
Talking for trader, I just think that what makes the difference is our trade experience. An experienced trader knows how to deal with emotional issues in trade. For instance, such trader would not trade or stake what he can't forgo. This is one way we can check our emotions.
Talking for trader, I just think that what makes the difference is our trade experience. An experienced trader knows how to deal with emotional issues in trade. For instance, such trader would not trade or stake what he can't forgo. This is one way we can check our emotions.
No matter what your status is in trading, emotions are always there. But to get rid of negative emotions is a hard thing to do. The best solution I can advice to you is not to look at any trading aites when the market is down because that can cause some massive emotional stress and frustration to you as a trader.
That's a big frustrations when seeing our investment going down and would lead to emotional stress. You are right when you say is to focus only on your investment and neglect the market when you are seeing red to avoid emotional stress.
In business dealings it is impossible to let emotions decide. Need to understand who deals with and how transactions, how to do? Once wrong, it can lead to undesired loss. I was very nervous when I made a deal and waited for success.
No matter what your status is in trading, emotions are always there. But to get rid of negative emotions is a hard thing to do. The best solution I can advice to you is not to look at any trading aites when the market is down because that can cause some massive emotional stress and frustration to you as a trader.
You just need to be offline from all the markets, you just need to concentrate in what you are trading, the news of that pair, and nothing else. Only the stuff that you are trading.
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 don’t think so that any of the human can get rid of this emotional stuff as this is quite natural and that we all must master ourselves in a way which can then help us in keeping our emotions under our control especially at time when things are not going the way we want the, to be. Loss of control over your emotions simply mean that you are going to lose most of your money. 
People will just be confused on reading too much about getting rid of emotions when doing trading. Just learn the basic thing about it and let their experienced teach them how to deal with emotions on the way. That's the challenge.
Just take a look at it, most professionals traders today still suffer a battle against their emotions but they know how to deal on it. What does this mean? Meaning it's already in our nature. Now let those newbies in trading experienced loss on the way because without any losses, they can't build a good fundamental on their trading journey. That losses will teach them to deal with their emotions and because they are used to it and knows what will be the result if they will allowed their emotions to overcome themselves, they will know how to control it so that no such things as losses because of emotions.
I never read such advices back in my newbie days and today I gained lots thru trading. Again experiences will teaches us. People just have to be serious if they really wants to pursue their goal of doing trades.
You are right, if you have the guts and all those characteristics for sure that you will gonna win the market, not everyday might be a happy day but at least almost all your trading career will do if you will just have the right combination of skills and of course patience.
To control your emotion you need to be calm and compose.You need have proper knowledge about the specific trade that you are doing.One needs to be very clear in his mind of what he wants to do or double mind will lead you to take any harsh decision which will be regreted latter.
Most will never manage it. Everyone should start off paper trading which would at least give you a glimmer of whether you can actually handle it, even then there's nothing at stake so it would be easy to convince yourself when in reality with real money you'd be a headless chicken.
If you have some forked BTC at least that's free money to trade with so perhaps you'd be less sentimental.
If you have some forked BTC at least that's free money to trade with so perhaps you'd be less sentimental.
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