Topic: Importance of emotion while trading - page 3. (Read 825 times)

That's actually right, because we make our judgement not only into trading, but many things by using our emotions and feelings. If we combined them with using our knowledge, then that's the time we could make our judgement. Sometimes feelings and emotion would contrast to the knowledge we have, because we can't always rely into our guts if we don't have any idea into a certain thing which we can apply into trading. If we can't control our emotions and not having enough knowledge it would affect our judgement causes for us to get losses. And I agree to your statement that greediness could give you bad calls by just repeating the same method which is not applicable in trading since it's volatile.

Almost everyone cannot make the right decision in an emotional state, so it is very important not to make decisions in an emotional state because it is very likely that we will make the wrong decision and this can have bad consequences for the trades we make. If we have achieved the target we have made then it would be better for us to take the profits we have obtained and even if we plan to continue then we can continue after taking some of the profits we have obtained, you are right, we must be able to be consistent with what we have achieved. do it to achieve the targets we have set.

Emotions are always synonymous with destruction, this applies everywhere, not only in crypto trading activities, whatever is done based on emotions will have a destructive impact on the activities carried out.

My understanding:
* Taking a lot of profit when trading is not a problem for me, trading has its own tricks and strategies for making a profit, without being based on emotions.
* For this reason, trading needs to be done on one type of crypto, such as Bitcoin, other types of coins are allowed but there is no guarantee, even if it is done unemotionally or emotionally.
* This is fatal, you need to monitor the crypto you are investing in at all times, if you are trading, this means controlling your emotions or observing price movements of the crypto you are trading is important.
* There are things that need to be considered when trading from the word park, but not all of them, don't take points emotionally and rashly.
* Certainly.

That's what I know in dealing with emotions in general in crypto trading.

The first thing in trading is the emotion. Emotions are the thing that creates a headache for us. This some time fear the market not making any trade because of fear we think we will lose our funds and we maintain distance from it. Sometimes it may be greedy nature and many people encounter this type of emotion once they get profit in a single trade they do that again and again and the result is losing their fund because the market is not always the same and their greedy nature tend to do it again. And sometimes it may be anger which also causes tough consequences for traders. In short, emotions are the main stockholders and we need to control it first and then get the trading.

When excess greed works in us but we cannot take right decisions because greed prevents us from taking right decisions. Whenever we fail to make the right decision due to greed, we make mistakes. Sometimes many of our fears come into play when it comes to trading. And because fear works, we can't make the right decision in trading. We need to eliminate fear, have the influence to make the right decision and avoid excess greed, if we can follow these things, but our chances of making wrong decisions in business will be greatly reduced.

Things like this that we really have to realize, because a lot of people who fail in their trading are people who forget to apply this kind of thing in their trading activities.
Sometimes we forget when we get profits from trading, we will continue to trade even though the target profits we get have been met, well this kind of thing becomes a real problem because there we can see that the trading we do is not in accordance with the plan. Just imagine if we continue to continue the profits we get into losses? of course it will be a problem, right, and at the same time we will regret it.
The point is that we must be consistent with our plan at the beginning.

This is the most important thing in trading, learning to control your emotions. When a trader plans to start crypto trading, he must first control his emotions. For example when I first started trading I suffered losses and could not control my emotions, but later I controlled my emotions. That is why whenever a person starts his business he should control his emotions, because at any time one can face loss in business. And a trader who cannot control his own emotions will never be able to move forward in the future. In business you always have to control yourself, moreover in gambling you also have to control your emotions. All business involves risk and the person who can trade with this risk is able to control his emotions, that is why these things are most important.

I did not deny about emotional control, you are wrong if you think I deny it, I mean that other small things can affect your trade and trigger irregular emotions due to not having the right principle in trading.
Things about that I mentioned if you do not understand that, then your emotions will easily change in your trading activities, because as in general that emotions work dynamically depending on your feelings and ways of thinking, thus causing an emotions in your trade sir.
I understand that each person's emotional is different depending on the maturity of the mindset and control of a trader, and also this is influenced by a person's knowledge and experience in this business activity.

The market cannot be predicted where the direction of the movement, but when you have good analysis skills, you will be able to find the chance of chart movement that you analyze, and what we pursue is the potential for the movement to guide the direction that we usually call predictions.

If you properly have good knowledge of the position you want to entry and you know the potential I guess you need to expect to gain profit by here, but of course takes a lot of confirmation to deal to make this happen.

In my cents, still ideal to visit because even you already committed a trade and can see a good opportunity for position for example you bought already and make a TP on this market or coin and still there's a potential dump after your trade you can make a small trades with it, traders always ride with the market volatility.

Let's just accept the reality that the hardest part in trading is to control our emotions. I don't think you need to keep reminding yourself to control your emotions since the moment you decide to enter trading, then its already known that trading with emotions will never be successful. So its an initiative that you trade without involving your emotions at all, which I think will be totally hard most especially for inexperienced traders.

However, even professional traders cannot perfect their trades. There will always be inevitable losses due to their uncontrolled emotions. That's why if you think you are too emotional to trade, then never enter trading in the first place to save your funds from consistent losing.

If emotion is not controlled while trading, there will be no patience and no profit because our emotions will not enable us to see our coin's value drop and continue to hold it. As a result, in order to be a successful trader, you must work on your emotions.

Having a target aim in trading is essential so that one does not trade blindly.
Greed is the most common killer of traders; if a trader is greedy, the odds of losing money are extremely high; thus, control your emotions and be less greedy in order to be a good trader.

Emotions can be a great enemy in trading. And I realize that the real challenge in trading is not just to trade and stay in profits but to control the emotions that have already developed deep within us, the reason why it's too hard to feel less of our emotions as they can most of the time overpower our minds and end up ruining our trades. However, just like what mirakal has said, when you adopt the right strategy to use, controlling your emotions will follow as its very crucial to be successful traders.

And when it comes about mixing trading with drinking, you know this is sometimes hard to avoid especially that with online trading, you need to also feed your thirst while your mind is busy in trading. But if you can avoid it, then do your best to avoid it so you won't end up damaging your trades.

Self control and discipline neither on taking profits or holding up your position would really be that crucial specially into this trading field on which it would really be that a common approach or things that must be done for you in order to sustain or survive yourself within this market or this kind of venture which we know that the market is really that totally unpredictable and there's no way that we could really be able to tell on where it would be heading.If you do let yourself that getting affected when it comes to emotion or due to it then you are likely to fail up with this kind of venture or career. This is why proper control and discipline would really be that relevant or crucial. You should really be needing to know to assess such scenario or situation and make outright decisions whether you should sell or would be holding your position.

Success would be always be that depending on what are the things that people been doing and this is something that will really differ since we do make out different decisions and actions to be made on.
Emotion is really that a major thing that could affect out your trading decisions and if you are really that bad on handling out this thing then it would be no surprise that you would really be
ending up yourself on making a series of mistakes due for you not to be able to control up your emotion which would basically be able to affect your thinking too.

actually people often loss their money because they don't analyse the market situations and keep their profit save that it will be more profitable after few months but situations does not remain same all the time.Those who can better understand the market and can hide his emotion while trading is the one for which success is not a difficult thing.

Only using money for the purpose of trading and investment is not a major concern but I think the major concern is that how to enhance your used amount.This will only be possible if you visualise the market and take help from chart prediction.Now if there is an accurate timing of selling then don't wait more as this type of emotions can be full of risk for you.

Emotional control is important, but sometimes trading that is done does not have direction and only focuses on profit without seeing other aspects that can affect your trading activities.

Some need to add OP
like;

• Do not greedy, greedy can make someone go crazy and lose everything, the coldned profitability will disappear if we have greed, this also affects our mentality in trading so that it has an impact on emotions.
• Determine the target of defeat and target benefits in your trading activities, this will help your principle in trading so that it is not excessive either on your self -greed or on your loss, with this will make you much better in your trading.

I like to add one more important thing that you may have missed mentioning. That is the risk management. In trading, it is so important to use risk management so that you can always have the advantage. The volatile and uncertain market makes it hard to predict what's coming next. We make analysis based on many strategies and market movements in order to predict what is coming. But that's never 100% accurate and never will be. And for that reason we need to take precautions before losing all that we have.

Emotion control is hard but it could be achieved by practicing over and over. Nothing happens instantly and everything takes time. It will eventually take time too. But if we use risk management then it becomes a bit easy. Let me explain. When you do analysis and based on that you open a trade. Now the price could go up or down according to your analysis or going against it. As it is hard to predict, we can set a potential price for closing the trade manually. We need to set a Target for closing the trade with the money that we will be able to lose but continue our future trades without any issue. That way we won't lose too much. And it is important to not look at the trade too often so that you don't get affected by your emotion. When you leave it like that with a stop loss if the analysis fails then the trade will be closed at that targeted price. As it is happening automatically, your interference won't be necessary and you won't get emotional for that. This is why it is so important for emotional control to use risk management.

Then you should tell your friends that the success of trades stands and falls with good risk management. If you bet on high multipliers and take very high risks, then this is no longer trading but normal gambling, your friends can then also go to the casino and bet everything on one color in roulette.

To use risk management successfully, you need a lot of experience - and a large portion of understanding about your own actions and weaknesses during trading.
By the way, a very good book on this subject is the following: The Ultimate Trading Risk Management Guide

trading is not as easy as 123 like what others think , that they can learn trading and earn from it shortly but ending ? they just lost and then blaming this cryptomarket for their stupid attitude.

some of my friends even took years before they can call themselves trader because of what they need to go through .
Yet the fruits is very great because you can make multiplier but of course need to risk sometimes truly big.

but always remember that trading needs no emotion but perseverance and dedication , that will bring you to gaining.

If you are just involved in trading then it is very natural, you will panic when you see the value of the assets you own go down, but if you persist, believe me, you will get through all this comfortably. Forming mental resilience in trading takes quite a long time, it can't be done. completed in just 1 year or 2 years so that's for all beginners, you have to be patient if you want to become a professional and reliable trader, everything will never be instantaneous.

This why bots or scripts are created in trading so that it helps the trader to resist their emotions. Humans having an emotion is still helpful or much better than being like a robot, but that is if we are talking about outside the trading world. When we are losing, we need to calm down so that we won't do a revenge and lose evenly.

If we are winning, we need to calm down as well so that these winnings won't turn into losses due to too much greed of wanting more profits. You can't compare pro traders to the amateurs. Of course they have the upper hand because they already have an experience and lots of knowledge. But maybe some of them are over-confident and it screws them badly.