Never Trade On Emotions - page 5. | Bitcointalksearch.org

Golftech

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Quote from: ?? on ??

Crypto trading requires practical knowledge and experience. You don't need emotions to trade crypto. Before investing, you must know as much as possible about the project. Then you have to invest if you agree.

Knowledge is really needed in everything, including trading in the crypto space, because with mature knowledge, everyone can determine their steps in a better direction when investing and also trading, both in the short and long term.

Not just needed but a must before you invest your money into this business, with knowledge behind you your chance of success

is far better than those who thinks that trading is just a easy passing way to richness. emotions mostly affects you deciding so

like what the title said, trading with emotions most likely harmed your investment.

ttcsalam

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Quote from: mianvicky1 on July 26, 2021, 02:42:30 PM

I would like to give you some advice, especially for those who are new to the market. Whenever there is a pump in the market, you think you should invest in ALTs And you may benefit from it. But after your investment, the market goes down. When you see the market go down, you think you are losing money, so you sell everything. Again, when you see the market go up, you invest. This way you get hurt again and again. So whenever you have to invest, invest a small portion of your portfolio. So even if the market goes down, you have your portfolio. Never trade on emotions. Calculate well and then invest in it.

Very nice advice its should fallow all new trader from my personal experience I can say market when down this time I invest all time. when market pump then I sell it I want to add one point don't invest in selly or meme coin always invest this token or coin who have own block chin just like ETH Or TRX or Sol or DOT etc and always invest the news base token.

MSN02

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Humans are emotional beings, so it’s hard for us to be good traders. If you buy in high and watch the price drop by 600+% you obviously get scared and many times panic sell. This is why investing in long term projects that you believe will be huge in 5 years is important because it allows you to keep your money in the project and not worry to much. Obviously losing that kind of money hurts but if your mentality is that you will be profitable in a few years and having the money right now isn’t important then you will be fine. You haven’t lost money until you sell. An example of this for me is I bought NEAR at $6.50 and during the bear run the project went all the way down to $1.60. This sucked but I still believe that within the next 5 years my original investment will 10x or possibly even more, so I’m not to worried. My research strategy was solid and the project is solid so even though it sucks it’s not the end of the world. It would have been easy for me to panic sell though and then I’ve been fucked.

iged_war

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The biggest mistake any trader could make while trading is to let their emotions get the better of them. the edge that professional traders have over others is that they put their emotions in check while trading. To make good trading decisions, you have to shut out your emotions by not letting greed or the fear of losing money cloud your judgement.

to avoid our emotion explode, we must have good trade and use proper money management. most of us now didn't care about risk and money management and it is be the reason why our emotion uncontrolled and easy to be panic. if we have proper money management in each trades, i am believe it will not happen to us.

Dragonfund

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Quote from: kizlod on August 09, 2021, 09:35:16 AM

Well, it's a basic advise but it's on of the most important. And i think it need to be seen by new people and be reminded for those who are long time in crypto world. Because you can easily forget about basics at some point.

Everyone has emotion at every trade they engage in, but the we handle it differently with experience we have all gathered in trading.
I was watching a video of YouTuber who lost 100k of his leverage position, it was 3x actually but the market didn't goes as plan and he was mad that he should have listen to his body language and emotions when the market wasn't going as planned but he refused until he woke up to margin calls that his position has been liquidited, this happened when the market is usually volatile.

juanda

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Quote from: mianvicky1 on July 26, 2021, 02:42:30 PM

I would like to give you some advice, Especially to those who are new in the market. Whenever there is a pump in the market, you think you should invest in ALTs And you may benefit from it. But after your investment, the market goes down. When you see the market go down, you think you are losing money, so you sell everything. Again, when you see the market go up, you invest. This way you get hurt again and again. So whenever you have to invest, invest a small portion of your portfolio. So even if the market goes down, you have your portfolio. Never trade on emotions. Calculate well and then invest in it.

yes, your suggestion is correct. because so many people lose their crypto assets due to emotion. and many people buy altcoins when the price is rising because the popularity of altcoins is on the rise. Like Dogecoin, many people have lost assets just because some time ago Dogecoin's popularity was on the rise and it turned out to be a drastic drop in price. it all happened because of uncontrollable emotions.

zulfi125

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Emotions are very important in the crypto market, those who have patience and never sold the crypto in emotions never lost their money and those who have no patience and selling in emotions will never earn money from crypto market. so, first of all, you should get knowledge about trading after that you should trade in the crypto market so that you know the condition of the market.

Jawadu

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Investing is a very broad field and there are many challenges if you do not have investment knowledge. So it is better to learn the basics of the investment you want to make in order to avoid such investment of using emotions rather than knowledge. Personally, I have lost a lot of money on some currencies because of emotions, but now I have knowledge about investing so it is difficult to lose as often as in the past.

Rikotin

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In fact, it's easier to say than to apply it directly, sometimes there are traders who can read market movements by means of a cut loss, to make a profit by buying it back when the price drops, as a trader needs experience and project knowledge to profit in the market. but if you don't dare to take a high risk then it's better to invest in btc or other top coins and hold it for a certain period or until the coins you invest go up high

suryogandul

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Emotional control for beginners is very necessary. because if you don't use it, I think it's dangerous. beginners tend not to use emotional control well. especially if you are eager to trade. it can be one of the biggest causes of defeat. so I think emotional control should be needed by anyone

RussianEnglishTranslation

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I don't even trade anymore considering how high APY staking rewards are for Ethereum and NEAR. It's not worth risking losing your money trading.

Rimueng

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not only for new traders, usually many traders who are not observant will experience events as you say. In trading, you should be smart in reading market conditions and not prioritize the desire to get rich quick.

newwest

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Quote from: kizlod on August 09, 2021, 09:35:16 AM

Well, it's a basic advise but it's on of the most important. And i think it need to be seen by new people and be reminded for those who are long time in crypto world. Because you can easily forget about basics at some point.

Emotions in trading or investing should never come in between beacuse then your mind and heart will never be insync and at the end whatever results happened you will never be happy. Because if you invest and market falls then you will have all the reasons to blame and if other way around and you did not invest and market went up still you will blame as your heart said to invest buy mind was not allowing you to take that decision and you will remain unhappy in either ways.

m.rifki

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Quote from: kizlod on August 09, 2021, 09:35:16 AM

Well, it's a basic advise but it's on of the most important. And i think it need to be seen by new people and be reminded for those who are long time in crypto world. Because you can easily forget about basics at some point.

If someone forgets the basics of trading, it is a natural thing because human nature is the place to be wrong and forget, but what needs to be paid attention is not to get too emotional when trading, we must be more careful in reading market charts, understanding the risks of what is happening. we buy and plan neatly, maybe it can anticipate a little beginner so as not to make mistakes continuously.

Desmong

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Quote from: kizlod on August 09, 2021, 09:35:16 AM

Well, it's a basic advise but it's on of the most important. And i think it need to be seen by new people and be reminded for those who are long time in crypto world. Because you can easily forget about basics at some point.

Forgetting about some basic principles in Trading is normal but one has to get prepared and be conversant with some Trading rules which can be a good tools to one's trading journey. Like

✓Checking the Market chart regularly
✓Risk management
✓Law of Retracement
✓Trading Plan etc.

These can serve as a guide to new traders in order not to make silly mistakes.

kizlod

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Well, it's a basic advise but it's on of the most important. And i think it need to be seen by new people and be reminded for those who are long time in crypto world. Because you can easily forget about basics at some point.

aemma

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The truth is, a lot of people can't afford buying or Investing in any coin during a bad market or during a market dump, because they are afraid of what will become of their coins, well it's okay to feel that way, but also for many people that is the best time for them to invest. For instance, take a look at the market months ago, you will see that is was not encouraging but those who took the risk on good coins are already in profit now, because one good thing about good coins is that, once the market becomes favourable and pumps, people will start going after those coins they once believed in but couldn't hold, and where some will will be lucky to get in at a lower price than they sold earlier others will buy higher; this is already happening, take a look at ETH to begin with.
Therefore, in addition to not trading with emotions, it is also very important to trade or buy as at when due, if you don't buy when the price is down, don't bother chasing after it when it has grown so much.

Fredomago

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Quote from: vabchgent on August 09, 2021, 08:58:39 AM

The issue with that rule is that keeping the rule up is in itself kind of an emotional process. Cheesy

I think it also isn't distinct enough to just say put your emotions aside. Analytics and emotions aren't necessarily mutually exclusive or contrary to each other by a 100%. Not sure if I convey my thoughts comprehensibly here, but excitement also is an emotion and perhaps exactly the emotion that made you make a rational decision to get into the crypto market. I would rather say you should try to not get overwhelmed by your emotions or let it frequently lead you to make bad decisions. If that happens, you need to reiterate your approach. Emotions can also be a healthy warning signal. If the coin you are holding drops like a rock towards zero and you are sitting on your chair without any emotion, telling yourself thing will turn out to be good, haha, funny scenario to think about.

Good point, there are certain situation that you needed to consider when you are dealing with this kind of business.

The fact that emotion always influenced your decision-making if you failed to control yourself or if you failed to work with your emotions the next thing you'll see is making decision in the early stage either selling or buying your assets.

It's always better having a balance mindset, for sure it leads you to the right side in succeeding your plans within your target time.

vabchgent

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Quote from: sapnu on August 05, 2021, 10:56:22 AM

It is one of the golden rule that we fail to recognize and remember in investing, do not let your emotions take over your decision making. It will only lead you to regrettable choices which will soon be felt as you witness good things happening for bitcoin. Always make sure that it is your head that is processing or deciding for your investment may it be during a bear market or even during a bull market. Emotions tend to deceive you and highlight the current situation without even considering what may happen in the future that is why your head should always analyze all the possibilities before finally making a decision.

The issue with that rule is that keeping the rule up is in itself kind of an emotional process. Cheesy

I think it also isn't distinct enough to just say put your emotions aside. Analytics and emotions aren't necessarily mutually exclusive or contrary to each other by a 100%. Not sure if I convey my thoughts comprehensibly here, but excitement also is an emotion and perhaps exactly the emotion that made you make a rational decision to get into the crypto market. I would rather say you should try to not get overwhelmed by your emotions or let it frequently lead you to make bad decisions. If that happens, you need to reiterate your approach. Emotions can also be a healthy warning signal. If the coin you are holding drops like a rock towards zero and you are sitting on your chair without any emotion, telling yourself thing will turn out to be good, haha, funny scenario to think about.

Chathusand

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In actuality, it's simpler to say than to do; for example, there are traders who can read market movements and benefit by buying it back when the price decreases, since a trader need expertise and project knowledge to profit in the market. If you don't want to take a big risk, you should invest in bitcoin or other top coins and hold them for a while.

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