Topic: How to get rid of emotions when trading - page 4. (Read 3935 times)
In my opinion when i invest in the crypto market. We should be able to control ourselves when markets are down. Having entered the crypto market is facing asset loss situations. At this time we should be patient and wait for maturity. The loss of composure and confusion will lead to our stupid decision.
Whatever emotional factor has been minimized, you need experience of trading. The more transactions you make, the more stable your emotional state will be.
but if the market goes down again do you want to make transactions continuously? to get rid of emotions in trading it must be able to control ourselves in order to avoid losses when trading because most traders at the loss cannot control the enormous emotions in themselves Before you deal in trading be sure that you must know how to trade to avoid excessive lost during trading even an expertise has lost their money.during trading time be calm and dont be panic if you loosing your investment
Keeping your emotions steady in investing is extremely important because it can directly affect your results. Feeling unsettled in financial investment is extremely dangerous so always keep your mind relaxed before undertaking a transaction or investment.
one of the most important rule that must be observed is: to trade for those funds that you do not mind losing. In this case, you will avoid stress.
Do not start trading on a live account until you test your knowledge on the demo version (at least one month).
Why would you do that? Demo account is shit like most of demo account is rigged I'd say because you will probably only get a good result when you trade it with demo account. Use live account is the only way to feel the experience and also it doesn't look good when you only do it with demo account and get nothing. 
Trading in cryptocurrency is not a ‘get rich quick’ scheme. Some people have had tremendous success in this area, but they are the exceptions, not the rule. If you are considering trading and you don’t want to be taken for a ride, chewed-up and spat-out after a few short months, you need to approach it with a healthy amount of intrigue and passion. There is an inherent joy to be found in the journey; learning about the tech, growing with the projects and getting involved in new communities. Taking the steps outlined above is a great way to get yourself prepared. Ask questions, never stop learning and keep making those small but consecutive steps forward toward your goals.
The importance of emotions in trading you can only realize after trading on a real account. However, it is better to try the demo first, and do not immediately rush to sell your deposit.
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?
You need to be hard at yourself at the time of selling because greed always takes over your mind.Patience and steady mind is the most important thing that is required for the trading.Taking wise decision at the time trading depends on how compose you are at that time.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?
Greed is the cause of failure
Discipline is the crux of the trading
To practise the psychology firmly when the trading is really difficult
I can state that you can't free of your feelings while accomplishing something, much the same as exchanging. I can state that you ought to expect less with regards to wage, don't expect huge, you'll just feel pressure in the event that you haven't got what you anticipate. It's smarter to have something that you don't anticipate. And furthermore be shrewd and careful with regards to exchange, so you won't be tricked effortlessly.
Whatever emotional factor has been minimized, you need experience of trading. The more transactions you make, the more stable your emotional state will be.
Having opened the position and having placed a protective stop-order and the level of take-profit, close the terminal and deal with your affairs. To get rid of emotions in trading it is possible, if you just do not expose yourself to their influence. There is no point in sitting and looking at price fluctuations. You can look at the situation, but do it periodically, and not every five minutes.
Do not start trading on a live account until you test your knowledge on the demo version (at least one month).
Life is full of trials, disappointments and losses. Life is full of adventure, happiness, comfort and wonder. We can all choose how we handle the challenges and losses. We can make the changes we seek.
Do not start trading by being in debt and credit. The mistake of many novice traders is the fact that they want to earn quickly and a lot, pay off their debts and loans, but alas. As practice shows, this desire ends with the sale of the deposit, because the person begins to violate the rules of mani management (unjustified risks). Emotions will play against you.
The best way to get rid of emotion is to set a trading plan from day one of your trading life and make sure you stick to it no matter the situation of every day. What are the integral parts of trading plan? You must first and foremost decides how much you want to take as profit per your trading day. Also how much will you lose if the trade goes against you. You will set your take profit (TP) according to your plan. Set your stop loss (SL) Decide how many trades you will enter per day and never revenge trade once the day's trading is against you. Just follow your plan. Emotion will be far from you.
for beginners, i think have to keep learning to be like that. but in my opinion long-term trading is the answer to controlling emotions, with us not often seeing charts, we will be calm without panic with price fluctuations 
The best way to get rid of emotion is to set a trading plan from day one of your trading life and make sure you stick to it no matter the situation of every day. What are the integral parts of trading plan? You must first and foremost decides how much you want to take as profit per your trading day. Also how much will you lose if the trade goes against you. You will set your take profit (TP) according to your plan. Set your stop loss (SL) Decide how many trades you will enter per day and never revenge trade once the day's trading is against you. Just follow your plan. Emotion will be far from you.
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.
You maybe right on that way dude, that we cannot skip it or disregard our emotions but we can manage and control our emotions honestly speaking. That's there is called " Self-discipline ". So this things is the good way unto it, we may not get rid of it but we can apply self control about it.
For me what have worked for me is just taking two simple steps,
1. I trade with money i can easily forget when i lost it
2. When trading I always think long term, which means I choose only good coins, so even when the price is going down, my mind is still fixed on the long term, plus i can easily forget the money
Better to hold your bitcoin because trading is bit risky and can change your mood. Always invest in right coins with right strategy. 1. I trade with money i can easily forget when i lost it
2. When trading I always think long term, which means I choose only good coins, so even when the price is going down, my mind is still fixed on the long term, plus i can easily forget the money
For me what have worked for me is just taking two simple steps,
1. I trade with money i can easily forget when i lost it
2. When trading I always think long term, which means I choose only good coins, so even when the price is going down, my mind is still fixed on the long term, plus i can easily forget the money
Great post and Idea !. I know Getting rid of emotional is the hard thing ever while doing trade. We have to handle and control it. 1. I trade with money i can easily forget when i lost it
2. When trading I always think long term, which means I choose only good coins, so even when the price is going down, my mind is still fixed on the long term, plus i can easily forget the money
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.
You maybe right on that way dude, that we cannot skip it or disregard our emotions but we can manage and control our emotions honestly speaking. That's there is called " Self-discipline ". So this things is the good way unto it, we may not get rid of it but we can apply self control about it.
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