being just an ordinary person, i usually fall victim to greedness. there are plenty of times where i should cashout when i didn't, thinking that my investment portfolio will continue to be profitable.
another thing with me is the feeling of loyalness. once i invested in a certain crypto project, i tend to stay in for better or worse. it makes me feel unfaithful to leave the project. this attitude is very wrong.
i suggest that we take regular breaks from crypto world to enjoy the things around us better. and coming from these breaks, we can be more focused and have positive mindset during decision-makings.
Topic: How to get rid of emotions when trading - page 8. (Read 3936 times)
Every trader have experienced panicking, or sometimes taking on more risk, or even letting our emotion fluctuate with the markets.
And we sometimes blame our emotions, for a bad trade. Then we try to suppress them and distance ourselves from them. Which is impossible because we are human, and emotions are one of the key defining traits of being human.
But trading well is all about making better decisions. What we actually need is to make better decisions, which will ultimately lead to improved profits.
Rather than becoming a robot, if we approach our trading with the steps explained by author, we can make better decisions.
I will like to add; Just stay calm, know when to trade or walk away and you will be good.
And we sometimes blame our emotions, for a bad trade. Then we try to suppress them and distance ourselves from them. Which is impossible because we are human, and emotions are one of the key defining traits of being human.
But trading well is all about making better decisions. What we actually need is to make better decisions, which will ultimately lead to improved profits.
Rather than becoming a robot, if we approach our trading with the steps explained by author, we can make better decisions.
I will like to add; Just stay calm, know when to trade or walk away and you will be good.
To get rids emotions when you are in trading industry is act professional only don’t mix your emotions or problems in this business because it can’t help you to be successful in this business.
Agree with you, only professionals can totally get rid of emotions while trading. In the most breathless moments I make myself coffee and have a small brake. But this doesn't always work. To get rid your emotions when trading, you need to convince yourself that everything is under control. Do not be anxious that bitcoin or other cryptocurrencies will be forever low.
Of course this is what the most special thing that you to do for being as a person that are not to take emotional with some thing else that you have to be on , well it was hard to control at first but when you have to say that this could be then a better version of you is a must. 
I think emotions are treated in trading and because it is a form of living things that are natural if we have emotions. I read what you wrote but I don't really understand which part you meant to get rid of emotion, because in my opinion the 4 things you wrote were not including emotion rid. Some article writers say fear and greed are things that are a failure in trading, but that depends on how your strategy applies, even though there are still some emotions that can lead you to got profits from trading.
Exactly that is what I told others that you will find every second in the crypto world as a benefited time you spend. It gives you experience, source of income and lots of profits so you have to stay in the Bitcoin due to these main benefits even in its low market you do not have to change your mind.
Some people get panic in low market that takes a lot of time to recover but their benefited strategy is to get rid of emotions and to focus on buying more coins. When we cannot do anything about down fall market then keeping our emotions tight alone we may do instead of panicking or going aggressive. Because these emotions always lead to bad decisions making.
To get rid your emotions when trading, you need to convince yourself that everything is under control. Do not be anxious that bitcoin or other cryptocurrencies will be forever low.
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?
Exercise, eating well, and yoga work best for me. Otherwise, your list looks quite exhaustive. Can't add anything
the emotions will always be there when your money is involved, I think planning and working with a set target will go a long way
Setting a target and then focus on it is a difficult task but those who do it can avoid the unnecessary emotions and this way they will lose less because of wrong decisions by the emotions.
Trading with emotions would warrant you to make a lot of nasty decisions that would hurt your investment account. You must remove emotions when trading in this market. This is a helpful article you posted.
Emotions can affect the decision of the trader. I always controlling my emotions because I know that I can make wrong decision if I do not have self control. All of the successful trader have the characteristics of self control.
For me to get rids from emotions when trading you must learn how to be professional in this kind of business and separate those emotions about business to prevent from conflicts or problems in business matters.
If you are a very emotional man, stay away from the crypto trading. This business requires not only your time and effort but your patience and calmness. Try to control yourself.
how to get rid of emotion when trading by never investing with a lot of capital, because if we trade with a lot of capital we will definitely experience emotions or even a huge loss, now I have not dared to invest in the trade market.
In my own opinion, you will never be able to rid of your emotions because the market prices are volatile so you should be having more patience to wait for the price to grow before selling.
how to get rid of emotion when trading by never investing with a lot of capital, because if we trade with a lot of capital we will definitely experience emotions or even a huge loss, now I have not dared to invest in the trade market.
In my own opinion, you will never rid of your emotions in trading because everyone who are investing in the market are having a hard time when they saw their coins dropping.
During trading, emotions should be turned off otherwise you can lose control over the situation. To get rid of the need to get a lot of information from different sources and practice control over yourself.
To get rids emotions when you are in trading industry is act professional only don’t mix your emotions or problems in this business because it can’t help you to be successful in this business.
how to get rid of emotion when trading by never investing with a lot of capital, because if we trade with a lot of capital we will definitely experience emotions or even a huge loss, now I have not dared to invest in the trade market.
Sadly to say but emotions are part of the Trading. We have to connect with the process and feel it, as prediction can't work good any other way then just trough emotions. But we can try to control the way we feel, when things don't go the right way.
Emotions are one of the factors in cryptocurrency trading, we can easily control our emotions if we will improve our self control. I can now avoid loss because I can easily handle my emotions.
Just consider it like you are gambling away your money on it. If you are trading with money you can worth to lose than there is no problem, worse it could happen is you would lose your money that you already didn't need, if you are trading with money you need than there is no point because you are doing something very dangerous anyway and you should know the consequences of doing something so silly.If you can't leave the emotion out of way I purchased "gunbot" last year and it has an "emotionless" strategy which I use to this day and it doesn't really make amazing returns but at least on a bad market it is helping me out. I bought it from my friend and told him I wanted conservative results and little risk and he helped me setup the emotionless strategy, its not making me rich but considering we have been in a bear market for the past 6 months, I have been doing better than most other people.
Emotions are one of the factors in cryptocurrency trading, we can easily control our emotions if we will improve our self control. I can now avoid loss because I can easily handle my emotions.
Even extremely prepared people can't handle it when it comes to critical situations, believe me. As for me it's just impossible to control emotions because no matter what you do your mind understands very well the bets of trading.
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