New to trading? Learn to be an emotionless trading machine - page 4.

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Quote from: iMark on March 20, 2019, 11:19:37 PM

Quote from: nydiacaskey01 on March 20, 2019, 07:55:38 PM

Quote from: Slark on March 20, 2019, 07:05:16 PM

In order to become a successful trader you have to work a long way. Learning is the most important thing to start with. Without knowledge you will make mistakes. But if you learn to draw conclusions from them, everything will be fine.

I agree. Mistakes makes you learn in trading. I learned from it the hard way when ANTS change to NEO, the price skyrocket and I didn't sell when the price is at peak, I continue to hold on it. It was too late when I decided to sell when I see that price is starting to be stable and price continue to go down because of the China fake news.

Actually it is impossible for a human being to be emotionless because emotional feelings are natural and humane.
Yeah what we have to do is learn from what we have experienced and make it as lesson

It is not like having no emotions but it is like learning how to control your emotions when price falls, and being patient at the time of dip, holding is wise decision, so to avoid being emotional a new trader should learn all trading rules and get along with market condition like try to buy at low price and hold with patience.

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Quote from: whirlcoin on March 20, 2019, 04:38:16 AM

I think emotion makes a person to trade evidently because there is no motivation there will be no excitement in your life and it will not stay for a long time also so if you have some emotion it will makes you to trade with some more extra effort I think it will be good for some people to gain huge success.

Yes, sometimes emotion is good for trade, we just have to watch it and make sure we apply it secondly because when you look at bad trading, sometimes fear ha successfully gotten a lot of people out of bad trading which fear is also product of emotion.

We just need to be able to control and balance our emotion so that we can be able to apply it when necessary to avoid poor decision making but taking it out completely will not be possible. Sometimes when emotion sets in, before making any form of decision, we need to check if the loss or win is three consecutive, then if it is, we have to stop the trade immediately.

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Quote from: dante1265 on October 29, 2018, 12:59:08 PM

Good advice for new traders. I love straight to the point posts like this

While this is a helpful and serious advice the only reason that you will progress is following the steps advisedly by OP..and also read the valuable criticism and apply each for your own betterment,having here for couple of years teached me this things and now i am applying each steps and i am gaining for living(extra income for my family and love ones)

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I don't know how to be emotional in trading my opinion is putting 100% effort will give you the payback for your work otherwise emotions are not making you stronger or weaker but making some goals always giving you to put some extra effort for your goals.

iMark

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Quote from: nydiacaskey01 on March 20, 2019, 07:55:38 PM

Quote from: Slark on March 20, 2019, 07:05:16 PM

In order to become a successful trader you have to work a long way. Learning is the most important thing to start with. Without knowledge you will make mistakes. But if you learn to draw conclusions from them, everything will be fine.

I agree. Mistakes makes you learn in trading. I learned from it the hard way when ANTS change to NEO, the price skyrocket and I didn't sell when the price is at peak, I continue to hold on it. It was too late when I decided to sell when I see that price is starting to be stable and price continue to go down because of the China fake news.

Actually it is impossible for a human being to be emotionless because emotional feelings are natural and humane.
Yeah what we have to do is learn from what we have experienced and make it as lesson

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Quote from: Twinkledoe on March 20, 2019, 07:58:03 PM

Quote from: nydiacaskey01 on March 20, 2019, 07:55:38 PM

Quote from: Slark on March 20, 2019, 07:05:16 PM

In order to become a successful trader you have to work a long way. Learning is the most important thing to start with. Without knowledge you will make mistakes. But if you learn to draw conclusions from them, everything will be fine.

I agree. Mistakes makes you learn in trading. I learned from it the hard way when ANTS change to NEO, the price skyrocket and I didn't sell when the price is at peak, I continue to hold on it. It was too late when I decided to sell when I see that price is starting to be stable and price continue to go down because of the China fake news.

In that scenario, trading technical strategies won't work. It is how you will react to the current hype. You don't need to be an expert to see what's coming. You just need to open your eyes on what's happening and situations that might trigger the changes.

The most important, we should always check on the coins we have so we know if there are any changes or moving from the coins and we can make a decision later. With doing that, I think we can minimize from making mistakes because we stay alert from what is going on in the market and we don't miss a chance if the price can increase higher.

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Quote from: rickadone on November 04, 2018, 11:48:20 AM

This is the key part to become a great trader. There is no trader in the world that can make money from the gut feeling or just emotions, all those movies where the trader just has a feeling are lying. Every good trader in the world whether its in crypto or stocks or forex doesn't matter actually makes the money thanks to their emotionless trading. You need to leave your feelings out the door when coming the work and just focus on making money by the patterns that is historically done and profited everyone.

If you can achieve to become a robot that is purely trading on the indicators given to him than you will always come out as the winner and have profits. It is not as easy in crypto world since it is quite volatile but in other areas it has worked perfectly.

trading should not be carried away by emotion, but things like that are very difficult to be able to do in the real world because what happens if we get a victory and the chance to win is still available so we will not be able to leave that opportunity. so it has become human nature that is greed that always comes when the opportunity comes. so basically all existing theories cannot apply if we have entered the real world.

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Quote from: nydiacaskey01 on March 20, 2019, 07:55:38 PM

Quote from: Slark on March 20, 2019, 07:05:16 PM

In order to become a successful trader you have to work a long way. Learning is the most important thing to start with. Without knowledge you will make mistakes. But if you learn to draw conclusions from them, everything will be fine.

I agree. Mistakes makes you learn in trading. I learned from it the hard way when ANTS change to NEO, the price skyrocket and I didn't sell when the price is at peak, I continue to hold on it. It was too late when I decided to sell when I see that price is starting to be stable and price continue to go down because of the China fake news.

In that scenario, trading technical strategies won't work. It is how you will react to the current hype. You don't need to be an expert to see what's coming. You just need to open your eyes on what's happening and situations that might trigger the changes.

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Quote from: Slark on March 20, 2019, 07:05:16 PM

In order to become a successful trader you have to work a long way. Learning is the most important thing to start with. Without knowledge you will make mistakes. But if you learn to draw conclusions from them, everything will be fine.

I agree. Mistakes makes you learn in trading. I learned from it the hard way when ANTS change to NEO, the price skyrocket and I didn't sell when the price is at peak, I continue to hold on it. It was too late when I decided to sell when I see that price is starting to be stable and price continue to go down because of the China fake news.

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Quote from: Moshaid on March 20, 2019, 06:26:40 PM

I have been fighting really hard to break the barrier of being an emotionless trader. My emotions in trading has brought lot of loss to my assets which I had to quit at a point. But I hope I overcome this barrier and focus my head on my goals.

If you are a real trader you do not make losses in your trading. Because emotional traders also make profit in this platform so how you analyse your investment and how to protect our investment is the right way to save our investment. Majority of emotional traders are never selling our investment in bleeding market so you must concentrate in your future trading.

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In order to become a successful trader you have to work a long way. Learning is the most important thing to start with. Without knowledge you will make mistakes. But if you learn to draw conclusions from them, everything will be fine.

Moshaid

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I have been fighting really hard to break the barrier of being an emotionless trader. My emotions in trading has brought lot of loss to my assets which I had to quit at a point. But I hope I overcome this barrier and focus my head on my goals.

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Quote from: fullhdpixel on March 20, 2019, 04:00:45 PM

Anyone who is trader shouldn’t trade with their emotion, and whenever you make a decision and you’re very sure that your decision is a good decision, you should learn to stand by it and not have a change of mind based on what people are saying on internet. That’s also why you need to learn everything about trading so you can do everything all by yourself without having to rely on what people are saying. People will always make your emotions worst.

Sometimes emotions do really save us on some situation or shall we say that intuition/instinct do help us on making such immediate action on what
we are experiencing on point. Emotion do really affects most of the time thats why good self control and discipline towards on making orders or entires/exit
is a must.

fullhdpixel

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Anyone who is trader shouldn’t trade with their emotion, and whenever you make a decision and you’re very sure that your decision is a good decision, you should learn to stand by it and not have a change of mind based on what people are saying on internet. That’s also why you need to learn everything about trading so you can do everything all by yourself without having to rely on what people are saying. People will always make your emotions worst.

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Quote from: millensharon8 on October 29, 2018, 11:36:45 AM

I know this may sound somehow impossible for some, but really, to be successful in trading, you need to have the mind of a machine. Now, you cannot have this if you do not have a strategy and you cannot have a strategy if you do not take your time to learn

If you ask me, it is not so much impossible as it is meaningless (I mean looking for emotionless trading)

Quote from: millensharon8 on October 29, 2018, 11:36:45 AM

Let me explain myself better, for instance, when using trading robots, you input your strategy, and they do it better because there is no emotion attached to it, except that they just do exactly what they are programmed to do. You cannot do well without a strategy and you cannot do well too when you keep changing strategies over and over again

And here you seem to come to the right conclusion yourself

It is not emotions that make you fail as it is not the lack of them that make you win. It is having a good and profitable strategy, so no trading bot will substitute or compensate you the lack of such. In other words, with a good strategy, your emotions are not going to get in your way

In fact, they will only make your trading more fun and ultimately more profitable as you will be more inclined and encouraged to improve on it via a positive feedback loop that emotions provide. For that reason alone, you shouldn't turn yourself into an emotionless trading machine. Instead, you should funnel your emotions in the right direction

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Quote from: dat.ho12492 on March 20, 2019, 07:03:05 AM

Quote from: udidrone on March 20, 2019, 02:34:29 AM

Quote from: Finestream on March 19, 2019, 05:48:37 PM

Quote from: CoinChili on March 19, 2019, 11:35:46 AM

Being emotionless when doing some trading is very impossible. It's really hard to disregard our feelings but we can actually lessen the unwanted emotions. For example, let us just set a goal in our mind, we can reduce stress or even panic and regret feeling in order to become a successful trader. Remind one self that bad vibes will also lead our trading a mess one.

Exactly.We will really find it hard to trade even without emotions involved but as much as we can,we will minimize trading with emotions because it will only destruct one's trading.And yes,having positive minds will also create a positive outcome and thus will lead to make a maximal profit at the end of the day.

Maybe it will need a lot of practice to get something like emotionless in trading. Because it is all depend on our condition how we feel about market condition. That is why trading activity need skill and not only buy and hold and sell activity.

Why do we need to become an emotionless machine in trading, emotionlessness can sometimes cause us to fail in trading because our intuition will sometimes be right, intuition is always a wonderful thing in trading, we should not remove it. In addition, I think it is difficult for people to become emotionless because we are ordinary people, emotions are something very natural in each of us, so instead of trying to be an emotionless person, we should learn to control emotions, it will probably be smarter

Maybe what OP means to be emotionless machine trading is not panic in any condition of market. People sometime face market that move very fast when pumped/dumped and then make them do panic buy/sell. And then regret with what they did.

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Quote from: rose9696 on March 20, 2019, 09:40:49 AM

I think the combination of emotion and reason is the best. because rational things only bring about a trivial result.
Listen to your heart and it will guide you on the right path. But don't let greed appear, it will break your plan.
Sometimes we need to let emotions lead and give us lots of memorable lessons.

If you are following your emotions means then you are simply just another person just like all the regular crypto currency trader who are struggling to make profits,because the profits will go opposite to the emotions,if everyone selling means then it is the right time to buy and vice versa.Following your instinct is good but don't let your decisions for trading interfere with your emotions.

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Quote from: millensharon8 on October 29, 2018, 11:36:45 AM

I know this may sound somehow impossible for some, but really, to be successful in trading, you need to have the mind of a machine. Now, you cannot have this if you do not have a strategy and you cannot have a strategy if you do not take your time to learn.

Let me explain myself better, for instance, when using trading robots, you input your strategy, and they do it better because there is no emotion attached to it, except that they just do exactly what they are programmed to do. You cannot do well without a strategy and you cannot do well too when you keep changing strategies over and over again.

Learn, get a strategy, build on it, and then trade it like a pro. It is imperative that you get to see trading as a profession, which would always make you to see yourself having to let your strategy play out than letting your emotions rule you, which I believe most new traders are guilty of.

What makes you even better than a machine is the fact that you can think, you can fine tune your strategy with experience you keep gaining over time, but when it comes to never letting your emotions come before your strategy, you need to be like a trading machine.

sure, emotions can drive away all our efforts at a single moment.
developing a strategy is a hard thing but anyway one creates it as time passes by.

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I think the combination of emotion and reason is the best. because rational things only bring about a trivial result.
Listen to your heart and it will guide you on the right path. But don't let greed appear, it will break your plan.
Sometimes we need to let emotions lead and give us lots of memorable lessons.

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Quote from: ASHLIUSZ on March 20, 2019, 08:20:24 AM

Trading is the one that provides with the biggest earning depending upon the investment made. Newbies always have a thinking to make a big money out of trading. When this gets away from the prediction automatically the user gets disturbed emotionally. As the thread states one need to be emotionless to be successful through trading.

I don't think you need to be emotionless to be successful in trading. If it were so, then you don't have difference with trading bots. It's a matter on how you are going to use it. Somehow the gut feel which is caused by emotion is a great way to distinguish which market is good to trade with the help of indicators and other tools.

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