Topic: Never Trade on Emotions - page 4. (Read 1458 times)

That is just the way humans are designed We always want success every time not wanting to fail but as far as am concerned failure is inevitable and most newbies investing in crypto don't want to lose money and at the same time want to enjoy the benefits that it comes with, and one thing have noticed is that before you can learn very well there is no way you won't lose money once you want to trade, and it takes a lot of effort to kill emotions when you want to trade, i have a friend once he purchase bitcoin the next thing is to delete his wallet since is private key his with him 

Of course that's already a given, you need to learn the fundamentals before getting into anything, I mean isn't that how everything that we do should start, no one gets in something doing it right the first time. Trading because you've become emotional and you want to take back your losses so quickly without rethinking your approach or strategy is a natural thing, the real skill is keeping that emotion in check and not hinder your next move.

Well maybe that way can also be done. But me personally when I feel my emotions start to peak and start to dominate my mind. then right then and there I will leave trading for a while. i sometimes divert it by going out and buying some snacks. or any way that can make my mind relax a little and my emotions subside. after my emotions subsided then I returned to trade.

if emotions rule our minds then FOMO is the thing that most people experience who force themselves to trade when emotions are unstable. so taking a little break is sometimes very necessary.

When traders make the mistakes of selling their coins at low price is because they don't know what they doings and many didn't learn how to trade but just started trading. A professional trader understands that the market can recover anytime and instead of selling, they can keep holding that coin and waiting for the season that the price of the coin will increase again.

As a trader you have to distance yourself from your emotions or you'll become unprofitable because of selling or buying a coin just because you have a feeling of the coin increasing or dumping. Emotions make you make very bad decision that can make you lose all your capital.

The main purpose of being emotional is high loss.  Anyone who wears high-quality losses becomes emotional, be it a new trader or a professional. So in order to control or ignore emotions, traders should first trade with a limit and instead of investing the entire fund on one coin only, they should invest 5-10% of the entire fund in each coin among multiple coins. then it is possible to get profit from trading by controlling emotions

A good understanding of fund management and limits along with technical analysis and proper knowledge of buying and selling at the right time is required for successful trading. and to protect ourselves from emotions, we need to trade with less amount so that emotions cannot attack us even if we lose.

When emotion do kicks in then it is really that something that hard to be controlled specially on the time that your mind isnt really that hearing up on what are the things that you must done.Easy to say for other

people to say that we should really be that emotionless but since we are just humans then it is really just that normal that we would really be that having those kind of impulsive approach and reactions
whenever we do see our portfolio is really that having reds or declining situation. Im aint saying that it do always have that con's yet there are moments or times which our emotions do really save us
from that total wrekt or lose on a position that we had been able to make.But most of the time making impulsive decisions or alterations do really result on error and losses.

That's why it is not advisable to trade or to gamble when you are not feeling well or you are down because you might do some impulsive things, there's a lot of people who made a thousand to millions of losses because they uses trading, futures and gambling as their coping mechanism to their lives they make it as their comfort but then they end up losing and more frustrated than before. Emotion has a very large impact on this thing.

Trading based on emotions will simply results to lots of losses.One should trade based on sound knowledge on trading,have good technical analysis and finding the best trading setups in the markets.One should also learn to control his emotions when it comes to trading in general and trade based on what the market present at that moment.

I tell my friends, never be a motivated trader. Be an intentional trader. A motivated trader is driven by his emotions. He is unstable. He lacks discipline and strategic thinking and makes or changes his mind on the spur of the moment. Doesn't always follow through. However, an intentional trader is the person in charge. Doesn't let FUD and all so-called bad and scary rumors stop them. They stick to their strategy irrespective of market fluctuations. Their decision is based off of - technical analysis, fundamental analysis, and intuition.

Related to trading that is influenced by emotions, it is not only beginners who can experience losses, even experienced traders sometimes fall into their emotions.
I talk like this because my friend is a reliable trader. he consistently earns even more from the daily trades he is used to. but one day he got a problem in his family. and he seems to be in a bad state psychologically. he looks a little stressed. and unlike usual he even traded in a state of emotion that seemed mixed. and as a result he experienced defeat or loss on that day. because he can't focus on analyzing the market because his mind is thinking about problems in his family. but fortunately he was not much in the loss. because he is still disciplined in determining the amount of loss he can accept.

But from that incident I observed that we must avoid entering the market to trade when we are having problems that can break our concentration in trading. because emotions will dominate in such conditions. even if usually we can analyze properly but we are having a lot of problems in our mind then our analysis will not be good. because our focus will decrease.

So that in trading besides we have to master the knowledge of trading such as various analysis. so it is also important for us to enter the market when we are truly in a clear state of mind. so that we can control our emotions in trading even better.

Those who are new investors and have little knowledge about Bitcoin or Crypto often think that investing here will surely make them profit and they will get it in a very short period of time.  And thus they are emotional and with that they face a big risk by investing a high amount in a single coin and if they are lucky and that coin goes pump then they get a good profit but it rarely happens. And for this reason, to invest in any place, it is important to first have a good idea about that thing and to know about the risk of investing there.  And should be invest there coldly without being emotional. this is the key strategy to make a profit in every business

"We cannot get rid of it" I'm really believed that trading is mastering your emotions, it is about being aware on what and how you feel. We are not a robot to feel no emotions so it is normal to feel something whenever we trade. For me emotions is considered as signal, if you feel negative emotion then it is a signal that something is off, something is wrong and you are the one who will find it. Ask yourself if you really followed the plan, if you execute your orders without hesitation and if you really accept and embrace the risks. There is a big misconception in trading because people think that you don't need emotion when you are trading. It is a wrong mistake because you cannot get rid of it. What you need to always observe and be aware to certain emotions that you currently experiencing.

Trading is mental game, that is why a lot of people are failing and it is one of the difficult job because only few people who are being aware to their mental analysis and trading psychology. Majority of the traders are just focusing on technical analysis and do not give any time to learn something about psychology. The key for trading success is basically mastering your trading psychology and everything will fall in line. You will find something incredible and you will see that your performance in trading will improve.

You have a good point in terms of meeting people who have an on-hand experienced with the market, though those who write the books mostly also have experienced and they are sharing the possibilities but with a real person who can guide you in how you can deal with the market/business it will help you a lot as they can give you hint and tips in each time you needed to adjust with your position and with every possible action that you may have experienced real-time.

A piece of advice that may add up with your knowledge in learning how to anticipate and how you can analyze the right pattern to follow with your short-term or long-term trading position.

Reading books,is it really going to help? I just think meeting people that are experienced in the field is the only thing that can really help here.Sometimes,to learn something,you don't really have to learn it through reading,you can also learn it from people that have been in the field before you started,they may know about it more better than you do.Practical approaches to things like this is much more better than the theoritical approach.And for the case of trading without emotions,I don't really think man can ever make an investment or trade without thinking about the money spent.The money he has spent must always remain in his heart.Humans are not robot,so therefore must react as humans,that is to say they must always have emotions no matter what.The only thing we just need to do is to have double feelings,which is anything can happen,either you'll lose or gain,one must happen,when you don't expect too much,you will not be too hurt when you lose.

so true. and the advice you convey is also the same advice that I received from my friend when I first started trading. i.e. I started and tried with a small fund. My first focus even at that time was not profit but first getting to know the market situation along with all the indicators that are commonly applied in the market. I familiarize myself with the market first. so I'm getting used to seeing every chart pattern that forms on the market. and gradually I started to enter with actual trades. and actually to be more able to control emotions in trading, we have to master more fundamental analysis. so that we don't feel anxious about the trades we enter. and only enter in coins that do have strong fundamentals. and avoid coins that only rely on hype, namely coins that are pumped and then dumped. most newbies get their psychologically disturbed after they enter into a trade in a new project that relies solely on hype. maybe for those who are experienced it is not a problem. but for beginners it is not recommended.

Well, humans by nature are emotional,  and emotion are basically a conscious mental reaction that common between everyone, it means we cannot get rid or live without it. In fact, we should learn how to control our emotions especially in tough situations. As you see the crypto market is always unstable, and to be honest, trading crypto is not an easy field to gain large money specifically in short term. Having a good self control is essential in trading especially when it comes with taking decisions.

Moreover, there is a plenty of characteristics that affect negatively  on traders such as greediness and hastiness. Also, it is really important to invest in yourself at the beginning, , it could be by learning the essential  elements  of trading, I advise beginners to read books and start practicing with low budget to avoid the risk of loss .

That is very true, what happens is that it is very difficult for a novice not to get carried away by emotions, especially when they are lucky because of their hunch and they do Well, this can sometimes become a double-edged sword because by doing so They themselves believe that they have a good grip on the market and things are Not like that, they are quite the opposite, because trading is not like gambling that you can play and bet on luck,here in trading you may have luck,but then when luck runs out things will not be very good,and therefore much trader who fails early.

The value of that statement is on how you percept the potential outcome if you are okay with short-term rally and with the amount of profits then it's good to go, it's your own opinion and own understanding on how to work with this investment, there are people who aim for long term as they are expecting a good return while others are good with short-term and small profits but they will continue to chase and repeat it over and over to make also decent benefits.

Like with how you think about it, more on your self assessment that will bring you the profits that you desire to earn from the business.

There are many new investors in crypto who take losses while trading and later become very emotional. But I think those who are raw in investment must first understand the investment well before trading. There are many people who invest in various scam schemes to get more profit and later face huge losses. they are not interested in investing in the future so I would tell those who are new to trading to invest in Bitcoin first. And when you invest in Bitcoin, you don't have to have the the risk of money and you don't have to be emotional.

You should exercise caution because your feelings and impulses could skew your judgment. Going into the market to trade requires having a clear head, analytical thinking, and a strategic mentality. As traders, we are well aware of how harmful it is to operate with an emotion-clouded head, know that doubt, anger, anxiety, concern, and the fear of missing out are the offspring of this. Control your emotions if you want to be a profitable and successful trader. Be a trader with discipline.