Never Trade on Emotions - page 8. | Bitcointalksearch.org

Bananington

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Quote from: King GK on March 03, 2023, 03:53:44 AM

also the type of people who lose in trading the et are the ones who"
- panic
- Doubt
- Hurry
- Fomo
- Angry
- worried
A major key for a trader is your enemy is always his emotions.

Happiness and excitement are also forms of emotions and although they are positive emotions, they can still be very dangerous emotions to trade with. While making analysis to set up a trade, you have to be as clear headed and minded as possible, Happiness and excitement can make you make wrong decisions just as the other emotions that you have mentioned. An over excited trade is very prone to making mistakes out of too much uncontrolled excitement. To be a good trader, you must know how to balance and keep your emotions controlled when making analysis.

Munir575

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Without emotional control, trading will undoubtedly fail because emotions have a manipulative effect on our thinking and can result in poor conclusions. Due to their too emotional nature, many traders that came only failed and placed the responsibility on themselves. I'll admit that occasionally I have trouble controlling my emotions and it had cost me alot, sometimes you can't help it but let the emotions get in the way. When trading Bitcoin or any other cryptocurrency we should never let our emotions get in the way no matter what.

Viscore

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Quote from: Woodie on March 06, 2023, 07:50:05 PM

If entering the markets will be based on you to first see some green candles or anything in those lines,am sorry you aren't ready for the markets and this will hurt you in the long term.

You best option to give yourself a winning chance and an edge over the markets is build a solid trading strategy this will help eliminate any emotions that get you to doubt your positions and will also allow you to apply good risk management to protect your capital.

Ultimately we also need to agree that we can't win all trades no matter how good of a strategy we have, let's accept losses to be part of the trading game!!

Trading is not an avenue to make you an instant wealthy with less than a year. It does not guarantee consistent profits, but it’s even more visible in making you losses most of the time. Most especially if you enter trading without knowledge and little bit of skills in trading, then you will never be profitable from your trades. And also trading with emotions is never advisable. If you feel that you find it hard to control your emotions in everything you do, particularly in trading, then it’s certain that you will hardly make profits from trading.

Rockstarguy

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Quote from: Sorryfor on March 10, 2023, 10:58:11 AM

I think new investors tend to be very emotional. Because they have never invested in cryptocurrencies before and have not faced losses due to which a fear remains inside them. When newbies invest without realizing it, they are very happy to get a small profit. Then it was seen that after investing a little more money, if they faced loss, they broke down a lot. And this collapse reduces the risk to their investment altogether. But if you invest, you must acquire knowledge and analysis about the market, then you must invest in Bitcoin, then you will not be prone to losing money.

Most newbies expect to make money in trading in the first time that is why whenever they loss they feel very emotional and beginners don't don't develop their mind that trading at the beginning stage it is easy to lose money. If beginners prepare their mind and expect that losses can occur in the first time of trading it will be very easy to pass through or overcome the emotional stress, beginners will keep going emotional if they think trading is all about making. It is just simple understanding that can make one not to be emotional in trading.

irhact

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Quote from: goinmerry on March 10, 2023, 02:39:12 PM

You can't avoid being emotional in doing trades. That was human nature and just a common and usual thing in everyone.

Emotions can come in when you're trading but been able to control those emotions are what makes you a professional and you'll need that ability if you want to be successful at trading. If you aren't able to control your emotions then you have to stop trading immediately. Emotions are what makes traders end an ongoing trade and finally ends in loss.

Both traders and investors surfer from emotional decision as you see investors pull out from an investment they had just because they lose patience from holding it or become fearful due to rumours about the project that most times aren't true.

Oilacris

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Quote from: goinmerry on March 10, 2023, 02:39:12 PM

You can't avoid being emotional in doing trades. That was human nature and just a common and usual thing in everyone.

Even professional traders today are dealing with their emotions when doing trades. There's no perfect trader where being emotional can be set aside.

What matter here is, being still responsible and having a calm state of mind even during an emotional breakout due to some trading-related problems.

We are really just humans and we know that even how discipline or having good control you do have on which there are moments or times which you would really be making yourself that impulsive or

really that emotional basing up on what you are doing or specially with trading.It cant really just be that avoided for you to have those kind of reactions since we dont really like on losing money.

This is why we do really still make out those impulsive actions which arent supposed to be done or with in line with our plans because its been affected
with our emotions.The good thing about on having experience is that you do able to control such manner compared to those who dont actually have real experience.

goinmerry

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You can't avoid being emotional in doing trades. That was human nature and just a common and usual thing in everyone.

Even professional traders today are dealing with their emotions when doing trades. There's no perfect trader where being emotional can be set aside.

What matter here is, being still responsible and having a calm state of mind even during an emotional breakout due to some trading-related problems.

bettercrypto

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All of us traders use emotions, there are no traders here in cryptocurrency who do not use emotions. Maybe the right thing for us to do as an individual trader is to have self-control and sell-discipline.

Then we must find out for ourselves what kind of trader we are, because if we don't do this, in the end for sure we will be really emotional as a trader because we will use our emotions incorrectly in which it is supposed to be used for the right purposes.

huu78

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people are going to be stuck with that for quite a while.
You know a gambler might spend years playing gambling, they know they have to stop but their emotions push them to keep playing, maybe in the end they stop after running out of money and they realize, even though it takes a long time.

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Quote from: Silberman on March 10, 2023, 11:20:43 AM

Quote from: Sorryfor on March 10, 2023, 10:58:11 AM

I think new investors tend to be very emotional. Because they have never invested in cryptocurrencies before and have not faced losses due to which a fear remains inside them. When newbies invest without realizing it, they are very happy to get a small profit. Then it was seen that after investing a little more money, if they faced loss, they broke down a lot. And this collapse reduces the risk to their investment altogether. But if you invest, you must acquire knowledge and analysis about the market, then you must invest in Bitcoin, then you will not be prone to losing money.

This is like a boxer which is having their first fight, they may have all kind of plans about what they are going to do above the ring, but suddenly they are punched on the face and they feel injured for the first time, some boxers know how to deal with the situation but there are many others that panic and forget their training and get destroyed in the process, something which is very similar to what we see in the markets with those newbie traders.

Experience is a big factor that could help to control ourselves. Newbies without experience could easily change their minds and quit when suffering difficulties because they are not quite prepared enough and it was not told that trading is difficult. Because what they know from online promotions, from those influencers is they can easily make money and multiply their money fast - everything has been easy but unfortunately, it is far different from actual trading. In this case, emotions are usually triggered and lead to making bad decisions.

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Quote from: Distinctin on March 09, 2023, 05:37:40 PM

Quote from: hyudien on March 03, 2023, 05:59:25 AM

This comes from myself, no I mean this can be overcome with the passage of time when we start trading. That's why we must have basic knowledge about trading first before really entering the real world of trading. How can we control our emotions if we have no knowledge of what we are doing. If we have a friend who has the same activity, it is better to learn from them. Because with the experiences they have that are shared with us, it will be very helpful.

Doing something against our emotions or trying to control our emotions is the hardest path to take when trading. That is why if we can learn from someone who is also a long term trader and has already experienced trading in different market conditions, then it would help open our minds that if we trade with emotions, we will only anticipate losing in the long run. That is a clear fact in trading, the more you chase your losses in trading, the most likely you will become an unproductive trader. So always manage your emotions everytime you decide to trade.

yes this is interesting, I agree with you, and there is a little addition in my opinion that trading is not easy, where a trader must be able to control his enemy, namely his own emotions and must be firm in his stance, you cannot just open a trade because there are so many points that attention must be paid to minimizing losses, such as carrying out market analysis that is right at a certain time technically and fundamentally, a trader must have limitations in trading such as loss limits and profit targets, requiring high flying hours to become a professional trader.

Huppercase

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If you are the kind that gets scared quickly and gets anxious when the market crashes, you should work on that before you begin your trading career. You cannot live that way if you are emotional in trading; you will always wind up with losses and losses at the end of the day. Practise what is known as dummy trading, become familiar with the major indicators, and subscribe to excellent channels where you can watch good video lessons and put it into practice. You will overcome your anxieties without even realizing it, and your trading ingredients will be very good.

Silberman

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Quote from: Sorryfor on March 10, 2023, 10:58:11 AM

I think new investors tend to be very emotional. Because they have never invested in cryptocurrencies before and have not faced losses due to which a fear remains inside them. When newbies invest without realizing it, they are very happy to get a small profit. Then it was seen that after investing a little more money, if they faced loss, they broke down a lot. And this collapse reduces the risk to their investment altogether. But if you invest, you must acquire knowledge and analysis about the market, then you must invest in Bitcoin, then you will not be prone to losing money.

This is like a boxer which is having their first fight, they may have all kind of plans about what they are going to do above the ring, but suddenly they are punched on the face and they feel injured for the first time, some boxers know how to deal with the situation but there are many others that panic and forget their training and get destroyed in the process, something which is very similar to what we see in the markets with those newbie traders.

Sorryfor

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I think new investors tend to be very emotional. Because they have never invested in cryptocurrencies before and have not faced losses due to which a fear remains inside them. When newbies invest without realizing it, they are very happy to get a small profit. Then it was seen that after investing a little more money, if they faced loss, they broke down a lot. And this collapse reduces the risk to their investment altogether. But if you invest, you must acquire knowledge and analysis about the market, then you must invest in Bitcoin, then you will not be prone to losing money.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: King GK on March 03, 2023, 03:53:44 AM

- panic
- Doubt
- Hurry
- Fomo
- Angry
- worried
A major key for a trader is your enemy is always his emotions.

Funny enough all the above qualities you mentioned are qualities of man and they are manifested at different times due to certain condition that the fellow is in.
There is one you didn't include and that is excitement. Maybe because your trade is going well, you can no longer stick to your budget or stop trading at the appropriate time until you blow your portfolio.

To be sure that you have mastered the act of trading, you must be able to control these emotions and also develop a reasonable degree of patience. Trading is more about emotional manipulations mosh times and that is why it is sometimes likened to gambling.

carlfebz2

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Quote from: Distinctin on March 09, 2023, 05:37:40 PM

Quote from: hyudien on March 03, 2023, 05:59:25 AM

This comes from myself, no I mean this can be overcome with the passage of time when we start trading. That's why we must have basic knowledge about trading first before really entering the real world of trading. How can we control our emotions if we have no knowledge of what we are doing. If we have a friend who has the same activity, it is better to learn from them. Because with the experiences they have that are shared with us, it will be very helpful.

Doing something against our emotions or trying to control our emotions is the hardest path to take when trading. That is why if we can learn from someone who is also a long term trader and has already experienced trading in different market conditions, then it would help open our minds that if we trade with emotions, we will only anticipate losing in the long run. That is a clear fact in trading, the more you chase your losses in trading, the most likely you will become an unproductive trader. So always manage your emotions everytime you decide to trade.

Not something that someone could easily deal off with but it would really be that challenging or something that cant really be that easy if we do speak about controlling on someones emotion.It would really be

taking lots of time and effort and engagement if we do speak about attaining something specially on controlling on someones emotion.On the time that you do able to bare out those situations where it causes

out those impulsive reactions and on the time that you are really that good on handling out your emotions then it would really be that an advantage since you could be
able to mind up and act accordingly basing up on what you had experienced back in the past.

Distinctin

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Quote from: hyudien on March 03, 2023, 05:59:25 AM

This comes from myself, no I mean this can be overcome with the passage of time when we start trading. That's why we must have basic knowledge about trading first before really entering the real world of trading. How can we control our emotions if we have no knowledge of what we are doing. If we have a friend who has the same activity, it is better to learn from them. Because with the experiences they have that are shared with us, it will be very helpful.

Doing something against our emotions or trying to control our emotions is the hardest path to take when trading. That is why if we can learn from someone who is also a long term trader and has already experienced trading in different market conditions, then it would help open our minds that if we trade with emotions, we will only anticipate losing in the long run. That is a clear fact in trading, the more you chase your losses in trading, the most likely you will become an unproductive trader. So always manage your emotions everytime you decide to trade.

beerlover

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Quote from: justdimin on March 06, 2023, 11:26:29 AM

I think it's really not that much of a difficult thing to be fair. If you see it high, you avoid buying, if you see it low, you avoid selling it. It's literally that simple and I have been doing it for many years and I have met some super smart people here, I am not even at top 10% of all the people I know in this community, so if I can do it, then most other people should be able to do it.

It means that it's a bit more about emotions and lack of being able to control them, and that is not just a crypto thing, people who fail to understand or even understand but fail to practice the simplest of trading mechanisms due to lack of emotional control, could probably have the same issue in regular life too.

Yeah, OP has named some bad emotions that could be sad to have, but you never named the good ones which could be equally bad if you are not careful. Being happy, excited, hyped, joyful, greedy, and many other things could actually end up costing you money as well. You should be very careful what you wish for because it could end up being something quite terrible if you are not careful.

I personally ended up with some sort of situation where I made a lot of profit on something, x4 my money and thought that I could actually make a lot more from it as well. What ended up happening was the price going back down again and I barely survived with breaking even.

Obari

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Emotions has really been the greatest enemy of a trader as most times the market tends to play some silly tricks on our emotions making traders swing into emotions.
I've always been on the opinion that trading should be done by people who are both mentally, emotionally, financially because trading is already a very risky business.

There have been stories of persons who only trade when they feel happy or excited because it helps to build and boast their confidence and there are some other persons who feel it is best to trade when angry as it helps to get them focus and judging from all of these, I think getting a working strategy no matter how odd it is, is best as emotions also has it's role to play with skills

JoyMarsha

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It's in our tendency to respond when expectations don't pan out. Due to this, when the price of bitcoin or altcoins drops, the majority of investors start acting emotionally. It will be necessary to note that every crypto investor needs to have an aim for their bitcoin investment. I don't know why certain people are so eager to invest in bitcoin without first establishing a specific investment objective. They forget that If a target is not established, the market price can easily hurt them.

Before newbies invest in cryptocurrency, it will be beneficial for us to warn them that it is a risky investment and that they shouldn't do so unless they can be patient, the market is volatile, invest with spare money, and learn not to be greedy.

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