Topic: How to Keep Emotions in Check and Maintain Strategy as a beginner (Read 277 times)

These looks easy but are actually hard to practice. Whether you accept it or not, your emotions will always be your worst enemy when trading. So just learn to deal with it along with patience, as you can't stop from feeling your emotions in everything you do. But as you grow as a trader, you will learn to adjust and control your emotions most especially when the market does not favor your trades.

I'd say experience is the key. If you can't control your emotions as a beginner trader, then let yourself experience all those various emotions when trading. Do not be afraid when you lose as losing is part in trading. But learn to overcome your losses gradually and when that happens, your emotions will also be more likely to be controllable.

These points will absolutely help. Now, if I may add, picture this: in the trading world, it's crucial not to let panic or greed take the wheel. Imagine you're on a roller coaster, when it dips, don't panic; when it climbs, don't get too greedy. Being a wise trader means keeping a cool head and not rushing decisions when things get shaky. Panicking can lead to hasty choices, and greed might make you overreach. It's like finding the right balance on a seesaw, steady and mindful. So, remember, in the trading game, keeping calm and staying grounded is your winning strategy.

As many have said already, Education and patience are the keys to controlling emotions when trading.
The education factor includes understanding the Bitcoin market, its 4 year cycle for example, understanding
the trading signals and how to read charts.

Patience will teach you not to make the wrong trades and the wrong time, this goes hand in hand with the
educating points above. just me 2_satoshis

I would also like to say that as a beginner at trading it will almost be certain that you will fail in the short
term because beginners have no experience.

Here is an article from 2019 which we can be certain is still relevant to today, its an interesting read.

Day Trading Bitcoin: Why 95% of Traders Lose Money and Fail

https://cointelegraph.com/news/day-trading-bitcoin-why-95-of-traders-lose-money-and-fail

Yes legend the user have been banned maybe he should recreate the thread

Richbased - I'm sure you already have a good understanding and strategy in trading, but you don't have to build on this thread that has been off for more than 3 months. Meanwhile you should also note that the OP has been banned and will no longer hear what you have to say - so next time you should be more selective in choosing threads especially if you have more knowledge for other users to hear.

I will report this thread to lock because the discussion may no longer be relevant - so it would be better to suppress spam. I hope the mods agree with my assumptions.

It is important for a beginner not to invest or trade with emotions and at a time that you're experiencing losses you just have to know that you didn't follow some important rules that stand as tools needed for investment.

 Tools like knowing when the right signal comes up for one to start trading and these signal must be noted despite how the market might turn out to be. So in trading, it is advisable to remove whatever that will make you to be emotional by following the rules of the system.

You don't need to be too anxious of anyone who offers to give you ideas on how you can make profits while trading as if it was that easy i believe they will rather prefer sharing those ideas with their close ones. Although some of their ideas do work but its dependent on how focused they are in following the exact rules that will enable the system to work.

Instead of paying someone that claims they know about how the system works its rather you use that money and start investing then follow the rules and basic techniques that the system requires that's sure the right way to go.

I know that almost everyone goal is centered at making huge amount of money in trading but that shouldn't be your most priority yet as you need to know the things that are more important in trading as quick as possible because if you ain't able to identify how the market is going on time then you might likely lose out at a time when the market would have been favourable to you.

And again do not allow your attention to be divided while trading and at a time when you are looking for the best time to invest you should be able to identify the wrong signals from the right ones.

Your list is good for a watchlist on oneself in his trading but like many have said experience plays a pivot role in trading more than all else meanwhile one of such experience is that we shouldn't be trading when we are angry or having a distorting disturbance in our head giving us an unbalanced thoughts, it creates a divided attention and distraction which can cost us a colossal loss. Anger doesn't work with trading, it's an emotion and at that moment a trader can be making trading decisions out of the anger he's hosting instead of reasoning and logic based on analysis.  And this is as a result of anger taking control of the better part of him.

Experiencing the hardest is always the best teacher.

I always believe that experiencing it first hand will teach you. When I was a beginner, I might call myself lucky because I didn't get scammed a huge amount of money, and it's because I didn't let my emotion decide what I will do and instead, I did some research first, and decide after doing that. With that kind mindset, I managed to dodge some of the scam projects that I initially wanted to invest my money in. Though there are times that I got scammed, it's just a small amount (probably around $5 to as high as $10).

After all, experiencing making mistakes will make you a better person not only in investing, but in real life. Experience will make you adjust, will help you to control your emotions, and to come up with a better strategy.

Whatever pointers you remember but if you don't have any experience dealing on certain scenarios you will never execute all the words posted.

But if you able to deal with the risk then learn on all experiences you encounter then provably that can make you aware on everything and can put good decisions on every position you enter.

Experience is a best teacher so I guess you really need to engage with people who trade and to situation what occur.

Learning every thing about trading and investing theoretically is not enough,  thus can't give out the main outcome of what we desire. That is why one can spent good time in learning trading but yet still having some Challenges concerning about trading.  The experience in trading is so important that it can never be looked down. The experience from trading and investing can reduce the rate at which one can be at lose, and it can also increase the chances of gaining profit.  Experience can never be neglected in trading and investing,  it gives good directions and to make better decisions.

Thank you for sharing your information and knowledge OP and I think some of the points you convey are true, but believe me these are just a few points that only refer theoretically and sometimes when we really get into trading we won't be able to easily control ourselves and think clearly to follow the advice. As you have said and conveyed because everyone has different influence factors and conditions.
As other members have said, the most important thing is that we really understand and know how to trade and find strategies that are suitable and comfortable for us to use. If we are tired or have a lot of thoughts, don't let us trade but we have to rest. If you experience a loss, don't give up easily and have to evaluate what went wrong after that let experience guide us to be better.

Op all you have pointed out is correct and applicable for a beginner who's new to the crypto space but don't you think you need more of what you just said? I think it is only a beginner who just got registered today in the forum will be the only one who isn't aware of all this advice because it has been repeated severally here. There's no way you won't find things difficult or get emotional over certain things when you don't know the basics of what you are doing and there is no amount of advice that can help a beginner who isn't ready to learn from the experience of others so long story short, encourage anyone who's interested to learn about anything not just the crpto investment to get the proper knowledge and follow the due process so they won't end up as lossers or gamblers.

As a human being with interest in learning how to trade or already a trader, one thing you have to master before you become successful at trading is controlling your emotions because when you're not able to control your emotions you can't stick to your trading plans and that would become an issue when you want to trade. All the tips you mentioned are good but they can't just be executed without been able to control your emotions first. Making plans and following it up without breaking then can only be possible when your emotions are already under your control and so is only investing in what you do understand because when you don't have your emotions under control you'll be easily be distracted with trends in the market

Investing with money you that you can afford to let go will help you with your emotion management because one reason why traders aren't at peace with the market is because they invested so much capital into the market that it begins to worry them but when the capital invested is in the category of spare money, you won't be bothered much about the market. Another important thing to always do as a trader is to take break, it doesn't matter if you're winning or losing but always take breaks as it gives your brain rest and time to think which will be helpful for future decision that you'll have to take when you're resuming your trading.

I highly agree, but it would be nice to be smart by learning from the experience and failure of other people.  This way we won't have a first-hand experience of everything.  Second-hand experience through observation and internalizing the failure and success of other people can also teach us what is good and what is a bad move.  That is why other people look for mentors that can guide them avoiding failures and mistakes.

Though nothing beats a personal experience, life is too short to experience all those things. It will save us resources and pains if we are able to acquire how to learn from others' experiences.

That's true, because the quest to feel your curiosity can never be fully rested until one have experienced all the happenings by yourself and made all the errors and mistake so as to know the proper way and right corrections to follow up these mistake. If we go into trading having a mentor and he teaches us all the up and down that's there in crypto trading it's wouldn't count vividly as to the knowledge you gather yourself through self experience doing what you are curious about although there is the part where you can learn greatly from other people mistake to avoid making those same mistakes too .

For this reason only, maybe this thread should be suggested to be moved to trading discussion board.


All this your suggestions are vital enough to help newbies have a good start and since tgis is trading discussion thread, i will also like to give my own contributions in this little way.

1. Learn how to trade and do it by yourself
2. Know the type of trades we have and their categories
3. Decide of which trading type you're going for and have your reasons
4. Know the difference between long and short term trades with different positions
5. Get used to trading indications and be ready to take risk no matter how little.

If you use all capital you have for your trading, when you fail with your first trading positions, you will lose all or most of your capital. You surely will gain some sort of experience from your tradings, losses but as a trader, no capital, nothing to work with and it's game over.

So if you are carefully and think that you will have to learn with market, trading positions and losses, you will have to use very small capital to start and avoid using all capital for trading. After getting loss, if you still have capital, you can learn more, analyze your mistake and come back, of course with rest of your capital.

No pain no gain but no capital, game over!

When it comes to the world of trading, you can't become a better trader or succeed without that experience, so it is good we make those mistakes in the process of trading, so it can serve as a lesson to us, experience does come as a result of the accumulated number of mistakes we do or see with our eyes happen to us that helps become that profitable traders if we learn from it and avoid them when next we encounter those errors.

I liked the last line.
What do you think the OP, to whom and why should your text help?  You didn't say anything new. The whole theory, and even not complete, this information is full not only on the Internet but also here on the forum.
Dry rules. Say: Don't worry; go for a walk or meditate. You know, who knows how to meditate? He knows how not to worry.
A person who connects his activity with finances will worry, and he must do it. The next step for him is to accept mistakes, build a strategy, and not focus on just one. To understand what is happening to you, you need to experience all emotions, and only after gaining experience will you be able to manage them.
Talking about going out and chatting and taking a walk doesn't work.

It seems like you're also one of those individuals who comment on threads and say the same things, like questioning why someone doesn't explain how something was helpful or how it aided their trading. It's kind of funny, hoping for a favor maybe? But not all threads are meant for everyone; they provide information to specific audiences. Even if I were to explain how it helped me, you might still find something else to comment on. If you don't find this thread useful, feel free to move on to the next one and please avoid telling me what I should share.

Thank you.


You make a valid point, although I don't entirely agree that experience is the best teacher. That's what they commonly say, but it doesn't align with my perspective. In my opinion, learning is the best teacher. The more you learn and practice, the closer you get to becoming an expert. This is what ultimately leads to gaining experience. You don't necessarily have to make mistakes to become skilled. There are valuable experiences shared by experienced Bitcoin traders, both here and elsewhere, that you can learn from.

After reading the OP and a few different answers, it seems that some people value the theory (the short set of rules in the opening post) while others value experience the most. I agree that the best way to learn is to feel yourself the emotions linked to trading/hodling, but for those few able to take an advice from a stranger and follow it, I liked the ones given by the OP, specially the first one about "a man with a plan", although reality will almost inevitably force you to update it on the go.

I know that all the other advice is important, but security is also very important. You can invest a lot of money into crypto, but if you don't treat your security very seriously, you will just lose your asset to scammers or hackers. Some people, after putting in a lot of money in some important investment, experience some misfortune that results in losing everything that they have laboured for, and that's the reason why every beginner should treat security as important as their asset. Some people fall victim to scammers more often because they are looking for a way to make quick profit in the crypto market, not realising how easy it is to be scammed if they are looking for a quicker way to earn more profit.

Keeping emotions in check especially when you see your portfolio down by 80 to 90% is something hard to calm and be at peace. Or course we could try to remedy that and make ourselves familiar with how to handle those emotions. But no one can ignore it like a simple problem at all.

As a beginner you must try it out to be confident and experiencr how to lose so you could feel the actual on the matter. For sure by that time youll definitely see and find ways to have confident to surpass that fear.

All these can be carefully taken into account if you have trading experience. Someone who was just introduced to bitcoin or crypto trading cannot understand all you have mentioned above, which is why the first foundation is learning about bitcoin and the crypto itself before thinking of trading.
It will be good for everyone who is just new to cryptocurrency to keep these aside and focus on having basic fundamental knowledge about the whole thing before going for any trading strategy.

In my opinion, the advice you give is very appropriate and very good. Because the advice you provide does contain basic points to start investing or starting trading in the crypto world. But believe it or not, even though a beginner in the crypto field knows the advice like you gave, in reality all the suggestions are still difficult for beginners to implement when they start investing or trading in crypto, especially mental matters. Therefore, material knowledge alone, in my opinion, is not enough. But you have to be trained as the trading or investment itself progresses, so the point is that you have to be able to learn from direct experience. Because what I feel personally, when I first started trading and investing in crypto. My mentality was really tested, even though I had learned all the basic knowledge about investing/trading in crypto. But for some reason I always feel tense and anxious when I see the crypto market, especially when the coin I buy experiences a price drop, even if it's a slight decrease. The point is that in my mind there is anxiety or excessive anxiety. So if I can't stand the anxiety, I will immediately sell the coin that has decreased, even though I am experiencing a loss. Because in my mind, I'm afraid the coin will go down even more.

But fortunately I was able to get through this difficult phase, and now I can control my emotions or thoughts more. So in conclusion, studying science in investing or trading in crypto is mandatory, but that doesn't mean that you feel you have enough knowledge is enough. Because the real test will occur, when you have started and run your trading or investment. So it is in that phase, in my opinion, that the knowledge and knowledge about crypto that has been studied must really be used. In order to subside the anxiety and anxiety that will surely be overshadowed. And if you can get through that phase, then you will realize that this is an experience that can be learned.

Afaik OP is just repeating which has been discussed here multiple times. Rather repeating what most of us know why not tell us how these points helped you in your trading journey. Share your experience and do tell us how you improved your trading outcome with help of those points. It doesn't matter some of them did good or bad I would like to know how it all went. If you don't have anything practical to share then don't bother creating such topics in the future.

OP, stop advising when you are to be reading and learning on cryptocurrency (bitcoin). Trading needs experience for you to be able to make profit and hodling of your bitcoin also need experience for you to understand bitcoin price movement, so that you don't panic and sell at the wrong time. If you don't have a bitcoin,I will advise you to buy a little fraction and learn on how to hodli and see how this will teach you a lot on bitcoin price movement.

Absolutely right. People will never be motivated to learn unless they start experiencing their own struggles. That way, they won’t wait for answers, but they will eventually look for solutions to solve their problems and get rid of their current situation.

Emotions are the hardest to control, but if you know your emotions will only worsen the situation, I think people are already smart enough to control their emotions and stick to their solutions wherein they can be productive and profitable at some point.

With regard to emotions in trading, this point is difficult for beginners to do, maybe even some people who have been trading for a long time.
the rules made by beginners are quite simple, buy low and sell high. but to remain consistent in such a plan is quite difficult for beginners whose analytical skills may still be lacking. Just a little market movement in the opposite direction to the plan is enough to make beginners panic.
just do it with the flow, even though losing sometimes it makes the psychology of the trader better in emotional terms.

When it comes to trading experience helps to make one a better trader. For instance, if you have bought a token or coin at a top price and your end up losing your money because you bought it at ATH. Next time if you want to buy a token again you will first check the all-time low and all-time high to know if you're buying it at a low price. Making and following your trading strategies is an important thing to do

Yes, experience is the best teacher in most things in life,  just like what you said you don't need to tell a child the food is hot especially when they are old enough to feed themselves when they feel the hotness they will adjust along the line.
Same with trading and investment,  personal experiences are what matters, and doing your own research and taking personal steps along these lines is what matters in the long run.

I really liked your all points but the attractive is fourth one because once you calculated the profit you could make on your investment plus how much risk you might have to bear. All other problems and factors solved by themselves like the time to book profit and which mindset should one have before booking profit. These all points are useful when one is doing holding instead of trading.

Because I as a holder if follow all these rules (instead If i want to add some more rules) then I will be more than OK.

But still as you said, we all have different mindset and different life hurdle like one could bear the market's bearish cycle but other might not. This current dip has refreshed the memory or fact that we should remain calm and not always so optimistic about something because as life is so unpredictable market is also.

Bla bla bla common sense.

Stop talking about "how to live in this world" instead talk about your trading experience and explain which one is better, which one isn't.

Trading always need exchange, talk about why Binance is good/bad, what's the best exchange and why etc. What's the best strategy, explain the analysis you've learn and how big is the percentage of your analysis are correct etc.

The simplest way for most people to learn is to simply experience being burned. No matter how much you teach people on how not to do it(by learning based on history), experience will almost always be the best teacher — most especially in the context of trading and investing.

Everyone is different, and every situation is special. So, what might work for one person might not work the same for another, and it might not work all the time either. Here are some tips to help you set aside your emotions and stay focus on your trading stratgy.

Make a plan and follow rules you set without breaking them.
Only invest in things you understand and believe in.
Always do your own research and think carefully.
Think about how much you could gain compared to what you could lose.
Try meditation and mindfulness to stay calm.
Only invest money you can afford to lose.
Keep a journal of your trades and feelings, so you can learn from them.
Take breaks when needed.
Find other good things to do like reading, being outside, or spending time with loved ones.
Notice if your actions are causing stress and talk to someone you trust if you're having problems.

Hope this helps!