Things that influence our trading decisions - page 3.

irhact

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Quote from: Franctoshi on July 15, 2023, 08:56:26 AM

You become a victim of emotion when you don't have a believed trading system or strategy that works, which guides you to know the entry and existing point of each trade. And to tackle this, one should develop a trading strategy around chart patterns because they are technical analysis simplified which tells you the time to get in and get out of the market because of its proven historical performances in the past.

Emotion trading is very wrong, any trader entering a trade just because he feel like Bitcoin is about to fall or rise will lose to the market. If you don't have a trading strategy or have read and understood the chart to determine which direction the market is heading don't trade. If you can't control your emotions, your emotions will control you and make you always enter the wrong trades or the right trades wrongly. Many individual has fallen victim to their emotions because if this.

Emotions is one of the things that influence many traders, some professional traders still struggle with their emotions at time but what makes them professional is because they can always control their emotions but as a newbie you'll find it difficult to control your emotions.

Dr.Bitcoin_Strange

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Quote from: ShowOff on July 13, 2023, 01:38:26 PM

Emotional control is also part of trading psychology. That is obviously very important for a trader as it will enable them to become successful traders later on. Experience and knowledge can support them, but as long as they are still afraid of losing, it is clear that controlling their emotions will be difficult.

Despite the fact that it's been talked about several times here, I still see some people disagreeing with it as if it doesn't really matter. Some people think that if you are just good with your trading strategy, you can begin to make profits, which I usually disagree with. There is every possibility that a trader can have a good strategy, but perhaps since we don't usually know the market direction, if a trader who doesn't have a good ability to control their emotions encounters losses, could they be able to bear the loss? Some traders will not, and that's not a good characteristic for a real trader. So, I agree with you.

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Quote from: GreatArkansas on July 09, 2023, 11:47:58 AM

Quote from: gunhell16 on July 09, 2023, 05:05:32 AM

* Emotions in trading

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

Emotions could be the best destruction in trading. Simply because people are born with different set of emotions and in every feeling that we experienced, there’s always a corresponding emotion with it. That’s why once we enter trading, controlling our emotions is of high necessity, otherwise we will consistently achieve losses and failed trading experience especially if we let our emotions decide in trading.

goaldigger

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Quote from: AicecreaME on July 15, 2023, 04:10:14 AM

Emotion is indeed plays a huge part in every decision making we have even in trading.

It has a good a bad effects, and it's gonna depend based on how strong willed a certain trader is. Mostly, especially newbie traders often to chase their trades by their negative emotions, such as frustration, depression, and ego. So the outcome is always chaotic, that make them losses a lot of money in the short term especially in the long term.

Therefore it's really important to control our emotions whether we're overjoyed or frustrated.

Trading with less emotions are more about your strategies are effective, traders have to understand this.
Self-control is a must, we should not skip learning this one because this is your fundamentals and in order to succeed in trading, you must learn the basic first and its not just about buying and selling, most of the time it talks more about yourself first. Trading is a battle of mind and emotion, always have your control and stay focus on setting your goals and achieving it. Some might get influenced by someone or a mentor, its also ok but I hope they can teach you about your emotion control.

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Quote from: AicecreaME on July 15, 2023, 04:10:14 AM

Emotion is indeed plays a huge part in every decision making we have even in trading.

It has a good a bad effects, and it's gonna depend based on how strong willed a certain trader is. Mostly, especially newbie traders often to chase their trades by their negative emotions, such as frustration, depression, and ego. So the outcome is always chaotic, that make them losses a lot of money in the short term especially in the long term.

Therefore it's really important to control our emotions whether we're overjoyed or frustrated.

Emotional decision is the root cause for the loss sometimes in the trading.So the experience traders will have an habit of holding at the critical moment.The trading is based on the experience and the earnings will increase based on the experience.The panic selling is the worst part in the trading,many people avoid such in the trading.Holding was the key used by the experienced traders at the bear market.So the bull market will give them good opportunity to earn more profit.

Franctoshi

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Quote from: gunhell16 on July 09, 2023, 05:05:32 AM

* Emotions in trading
Our emotions are part of our human behavior and it has a profound impact on our trading decisions. In the context of trading, the two primary emotions that affect our decision-making are "FEAR and GREED" Fear is a powerful emotion that will push us to think twice about entering and exiting the trade. Sometimes because of our fear of the trade, we exit immediately even though we know that it is too early to do so. And when fear dominates we become overly cautious, which also causes us to miss the opportunity for profitable trade even though we have seen the high probability set-up we should enter a trade but we don't because of fear.

You become a victim of emotion when you don't have a believed trading system or strategy that works, which guides you to know the entry and existing point of each trade. And to tackle this, one should develop a trading strategy around chart patterns because they are technical analysis simplified which tells you the time to get in and get out of the market because of its proven historical performances in the past.

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Quote from: AicecreaME on July 15, 2023, 04:10:14 AM

Emotion is indeed plays a huge part in every decision making we have even in trading.

It has a good a bad effects, and it's gonna depend based on how strong willed a certain trader is. Mostly, especially newbie traders often to chase their trades by their negative emotions, such as frustration, depression, and ego. So the outcome is always chaotic, that make them losses a lot of money in the short term especially in the long term.

Therefore it's really important to control our emotions whether we're overjoyed or frustrated.

Emotion is the common factors that enfluences decisions when it comes to trading, most people they find it so difficult to control their emotions, because of this they break every decision that was taking beginning of the trading or investment. One of the things that affect newbies a lot is greed which is the cause of not keeping to decisions. Decision making and keeping it is the secret of success in trading, emotions should never be a reason to break decision, that is why their is need for us to learn how to control our emotions.

AicecreaME

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Emotion is indeed plays a huge part in every decision making we have even in trading.

It has a good a bad effects, and it's gonna depend based on how strong willed a certain trader is. Mostly, especially newbie traders often to chase their trades by their negative emotions, such as frustration, depression, and ego. So the outcome is always chaotic, that make them losses a lot of money in the short term especially in the long term.

Therefore it's really important to control our emotions whether we're overjoyed or frustrated.

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Things that influence our trading decisions basically a lot

sometimes I do my own research and actually this is must be number one when involve money whether trading or investment. But sometimes too I have a doubt in my heart with my current decision. tho at the end my guess was right.

or I watched people on social media they called an "expert" make my decision even blurred

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Quote from: Russlenat on July 14, 2023, 05:52:08 PM

Quote from: GreatArkansas on July 09, 2023, 11:47:58 AM

Quote from: gunhell16 on July 09, 2023, 05:05:32 AM

* Emotions in trading

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

Our emotions could be the best reason why we never succeed on our trades. Instead of being patient, we tend to become more greedy for bigger profits, and end up missing some opportunities to sell for consistent profits. If we keep on tolerating that, we will never be good enough and profitable in trading since emotions could be our best enemy when trading. That’s the reason why we should separate our emotions when we decide to trade.

Emotions would be the main culprit on messing up our decisions not only limited on trading but also in other situations or conditions in life which we do really need to decide and on the time that emotion
would really be getting in the way then it would really be stirring up your mind on what are the things that should supposed to do and since we had made out some earlier plans and targets but since emotions do get in the way then everything could easily be messed up specially if you are that someone who doesnt really have that good self control when it comes to things.
This would really be requiring that strong will and discipline towards things which it would differ on each person if we do speak up on this regard.

Outcomes or results would really be determining on how we do make out decisions in life not only limited on trading or real life happenings or events.
If you cant stick then its up to yours on how you would really be handing your life.

Russlenat

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Quote from: GreatArkansas on July 09, 2023, 11:47:58 AM

Quote from: gunhell16 on July 09, 2023, 05:05:32 AM

* Emotions in trading

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

Our emotions could be the best reason why we never succeed on our trades. Instead of being patient, we tend to become more greedy for bigger profits, and end up missing some opportunities to sell for consistent profits. If we keep on tolerating that, we will never be good enough and profitable in trading since emotions could be our best enemy when trading. That’s the reason why we should separate our emotions when we decide to trade.

sompitonov

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Quote from: stomachgrowls on July 13, 2023, 06:23:51 PM

Quote from: jeraldskie11 on July 13, 2023, 06:16:33 PM

Quote from: sompitonov on July 13, 2023, 10:31:43 AM

Quote from: jeraldskie11 on July 13, 2023, 09:55:45 AM

Quote from: South Park on July 12, 2023, 07:16:36 PM

Quote from: DoublerHunter on July 12, 2023, 07:01:01 PM

Quote from: jeraldskie11 on July 12, 2023, 06:26:19 PM

~snip~
However, due to previous losses, we can become emotional, which complicates our trading. This is a hurdle to our trading strategy, and if we are not conscious, we will become victims of our own emotions. As you stated, greed is a result of emotion, most notably consistent losses. To be good traders, we must understand how to manage our emotions.

^This is definitely right and I agree with this.
Being successful traders means having a deep understanding of how to control our emotions rather than letting them control us. By developing emotional discipline and staying committed to our trading plan, we can overcome the negative impact of emotions and have successful trading decisions. Remember, managing emotions is an ongoing process that requires self-awareness and practice. Through discipline, self-reflection, and continuous learning, we can strive to become better traders and improve our overall trading performance.

Many people out there which want to become traders have the mistaken idea that if they want to become traders then they need to master all kind of different indicators and become a master of TA, and while that will help without a doubt, it also very important that people develop some emotional intelligence when they trade, as it is on those critical moments when everything hangs in the balance when the most important outcomes are decided, and if you are an expert on reading charts but you have a low emotional intelligence then you will make a mistake from which it will be almost impossible to recover.

That's what I thought before that you have to learn all the indicators to become a profitable trader. I learned many indicators but instead of making it easy for me to trade, it complicates my trades. If you're going to use an indicator to determine the trend, you can either choose moving averages or Bollinger bands, no need to use both of them in the chart because it's useless.
And yes, emotional stability in trading is very important to be successful and that's why some people says that it's 90% psychology and 10% TA.

I tried TA for several years, but it didn't show its effectiveness. So I don't use moving averages and other TA tools. I am an adherent of fundamental analysis.

Psychology really has a huge impact on trading. There are even special psychologists for traders if you want to improve your morale. But you need to be very careful when choosing them. This is a favorable area for many scammers who pretend to be a real psychologist, so you need to choose very carefully.

I heard someone like you who just trade fundamentally, but because you're not using TA you don't know where is the invalidation and where is the take profit area. In other words, you didn't put stop loss? And take profit when happy? If yes, you're likely using a spot trading because if you trade with leverage, it's so risky. Personally, I trade both TA and FA before but when I observed that the news mostly come when the price accumulate, I decided to focus more in TA.

And plus the fact....

News couldn't really pop out from time to time on which there's a specific random time on which these things do pop out like mushrooms on which means that if ever you are really that a FA trader then you would really be only having few trading sessions and most of them are really just pure random kind of positioning if you arent using some technical indicators.This is why it would be always that recommended that you should have
that both knowledge on using up indicators and using up news together if ever it is really that available.

It isnt really that needing for you to have a single choice if you could make use of both. Try all the ways and methods available as long you could be able to put yourself at advantage and this is something that you should mind on. Dont stick on a single way or method because this market is way too vast or broad and totally random on which it would really be needing that kind of approach and if its needed to make out combinations
on both ways or methods then you must do it for you to have that better picture on where are the possible ways or movement which the price could go.

I don't use leverage and only trade spot. I am well aware that many of the news feed events are created to manipulate the crowd. I trade accumulation and reset cycles so my trades are very infrequent. Perhaps some call it short-term and medium-term investments. I also track interest rates and take them into account. But I still take profits and cut losses where I consider it necessary.

I'm not saying TA is bad. But to use it, you need to understand many subtleties and use it wisely so as not to incur losses. I think many people have the illusion that they understand TA.

And most importantly, I think that owning both TA and FA is the best. Agree with you in that case.

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Quote from: GreatArkansas on July 09, 2023, 11:47:58 AM

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

You are absolutely right that emotions always have to be controlled in trading and if you cannot control your emotions despite all your experience, knowledge and analysis then trading can be a difficult platform for such people, but it cannot be denied that good and bad news have a great impact on our trading. A good trader should always keep himself informed about the news along with his analysis, because the assumptions we make are often proven wrong by bad news. The crypto currency market is always heavily influenced by news, which can make the market go up and down. As yesterday XRP won its case and it has a positive impact on the market which has led many coins to rise in price.

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Quote from: Bushdark on July 13, 2023, 06:45:05 PM

There are so many things that can I fluence our trading decisions that is why we need to have some knowledge on trading psychology that will help us understand how to trade and do things ourselves. Trading is something that if we don't get right, it can influence the way we think and do things. If we keep having a bad trades everytime, we might become so frustrated that we are not going to have interest in trading or anything that js related to trading. This is why it is very important for us to learn and understand the necessary things we need to know to make us become a profitable traders.

Trading psychology becomes very important when trading. The final decision is based on how the trader's decision.
Psychology will really be in play and if it does not have good skills then it will put a burden on their psychology.

Learning and understanding the science of trading will provide a good trading experience and can maintain profits.
There are actually many that influence decisions in trading, the decision is also based on research conducted.
But for those who do not have basic knowledge, decisions are only based on insting or just guessing.
it will even cause a lot of losses if not done correctly.

Experiencing bad trades continuously proves that the knowledge possessed about trading is not yet qualified and needs to learn again.

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Quote from: Captain Corporate on July 13, 2023, 06:30:26 PM

Mine is sudden changes in volume or liquidity. You may think that won't change too quickly, but the reality is that we are talking about a situation where defi and small cap stuff changes all the time. Even in bitcoin, sometimes liquidity changes a lot, you can see millions and millions of dollars in a single price point, hard to break down or up, and then suddenly that's withdrawn and in that case its very difficult to stay there. I believe that we shouldn't really be involved in a situation where millions suddenly go away, that's risky. There are of course other reasons like bad news and someone important speaking against it or some law etc etc, those are important too but not really predictable at all.

There are so many things that can I fluence our trading decisions that is why we need to have some knowledge on trading psychology that will help us understand how to trade and do things ourselves. Trading is something that if we don't get right, it can influence the way we think and do things. If we keep having a bad trades everytime, we might become so frustrated that we are not going to have interest in trading or anything that js related to trading. This is why it is very important for us to learn and understand the necessary things we need to know to make us become a profitable traders.

irhact

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Quote from: Kimonoe on July 13, 2023, 11:19:01 AM

I put so much hope during the ICO trend, many altcoins seemed promising, but ended in disappointment. from that I learned a very valuable lesson where personal analysis should be followed, not seduced by sweet words in the telegram group, until finally they just left, and the coins have turned to ashes. until now there is no bright spot, in fact it has been delisted from the available exchanges. large collection of owned but worthless tokens. and it seems that there is no hope anymore, because the project has stalled. but indeed not all of them were like that, I also had time to feel the sweetness of ICO, as if it was easy to make money at that time

Not all ICO projects filled, we have some that are still making good profits to investors up to this date but many ICO protect failed. The Defi coins were the project that failed the most because I still have many of them that I invested into in my wallet Some are now has no value as you can't trade them on exchanges while others has dumped to almost nothing. You can't make back your invested capital if you decide to sell them now as they have no market value.

IC0 scams thought so many indivisible valuable lesson and that's one of the reasons I can't trust any new trend just because they're popular now. I can't be influence again like I was when ICO trend was popular in 2017. Investing just because everybody is doing it is very wrong.

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Mine is sudden changes in volume or liquidity. You may think that won't change too quickly, but the reality is that we are talking about a situation where defi and small cap stuff changes all the time. Even in bitcoin, sometimes liquidity changes a lot, you can see millions and millions of dollars in a single price point, hard to break down or up, and then suddenly that's withdrawn and in that case its very difficult to stay there. I believe that we shouldn't really be involved in a situation where millions suddenly go away, that's risky. There are of course other reasons like bad news and someone important speaking against it or some law etc etc, those are important too but not really predictable at all.

stomachgrowls

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Quote from: jeraldskie11 on July 13, 2023, 06:16:33 PM

Quote from: sompitonov on July 13, 2023, 10:31:43 AM

Quote from: jeraldskie11 on July 13, 2023, 09:55:45 AM

Quote from: South Park on July 12, 2023, 07:16:36 PM

Quote from: DoublerHunter on July 12, 2023, 07:01:01 PM

Quote from: jeraldskie11 on July 12, 2023, 06:26:19 PM

~snip~
However, due to previous losses, we can become emotional, which complicates our trading. This is a hurdle to our trading strategy, and if we are not conscious, we will become victims of our own emotions. As you stated, greed is a result of emotion, most notably consistent losses. To be good traders, we must understand how to manage our emotions.

^This is definitely right and I agree with this.
Being successful traders means having a deep understanding of how to control our emotions rather than letting them control us. By developing emotional discipline and staying committed to our trading plan, we can overcome the negative impact of emotions and have successful trading decisions. Remember, managing emotions is an ongoing process that requires self-awareness and practice. Through discipline, self-reflection, and continuous learning, we can strive to become better traders and improve our overall trading performance.

Many people out there which want to become traders have the mistaken idea that if they want to become traders then they need to master all kind of different indicators and become a master of TA, and while that will help without a doubt, it also very important that people develop some emotional intelligence when they trade, as it is on those critical moments when everything hangs in the balance when the most important outcomes are decided, and if you are an expert on reading charts but you have a low emotional intelligence then you will make a mistake from which it will be almost impossible to recover.

That's what I thought before that you have to learn all the indicators to become a profitable trader. I learned many indicators but instead of making it easy for me to trade, it complicates my trades. If you're going to use an indicator to determine the trend, you can either choose moving averages or Bollinger bands, no need to use both of them in the chart because it's useless.
And yes, emotional stability in trading is very important to be successful and that's why some people says that it's 90% psychology and 10% TA.

I tried TA for several years, but it didn't show its effectiveness. So I don't use moving averages and other TA tools. I am an adherent of fundamental analysis.

Psychology really has a huge impact on trading. There are even special psychologists for traders if you want to improve your morale. But you need to be very careful when choosing them. This is a favorable area for many scammers who pretend to be a real psychologist, so you need to choose very carefully.

I heard someone like you who just trade fundamentally, but because you're not using TA you don't know where is the invalidation and where is the take profit area. In other words, you didn't put stop loss? And take profit when happy? If yes, you're likely using a spot trading because if you trade with leverage, it's so risky. Personally, I trade both TA and FA before but when I observed that the news mostly come when the price accumulate, I decided to focus more in TA.

And plus the fact....

News couldn't really pop out from time to time on which there's a specific random time on which these things do pop out like mushrooms on which means that if ever you are really that a FA trader then you would really be only having few trading sessions and most of them are really just pure random kind of positioning if you arent using some technical indicators.This is why it would be always that recommended that you should have
that both knowledge on using up indicators and using up news together if ever it is really that available.

It isnt really that needing for you to have a single choice if you could make use of both. Try all the ways and methods available as long you could be able to put yourself at advantage and this is something that you should mind on. Dont stick on a single way or method because this market is way too vast or broad and totally random on which it would really be needing that kind of approach and if its needed to make out combinations
on both ways or methods then you must do it for you to have that better picture on where are the possible ways or movement which the price could go.

jeraldskie11

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Quote from: sompitonov on July 13, 2023, 10:31:43 AM

Quote from: jeraldskie11 on July 13, 2023, 09:55:45 AM

Quote from: South Park on July 12, 2023, 07:16:36 PM

Quote from: DoublerHunter on July 12, 2023, 07:01:01 PM

Quote from: jeraldskie11 on July 12, 2023, 06:26:19 PM

~snip~
However, due to previous losses, we can become emotional, which complicates our trading. This is a hurdle to our trading strategy, and if we are not conscious, we will become victims of our own emotions. As you stated, greed is a result of emotion, most notably consistent losses. To be good traders, we must understand how to manage our emotions.

^This is definitely right and I agree with this.
Being successful traders means having a deep understanding of how to control our emotions rather than letting them control us. By developing emotional discipline and staying committed to our trading plan, we can overcome the negative impact of emotions and have successful trading decisions. Remember, managing emotions is an ongoing process that requires self-awareness and practice. Through discipline, self-reflection, and continuous learning, we can strive to become better traders and improve our overall trading performance.

Many people out there which want to become traders have the mistaken idea that if they want to become traders then they need to master all kind of different indicators and become a master of TA, and while that will help without a doubt, it also very important that people develop some emotional intelligence when they trade, as it is on those critical moments when everything hangs in the balance when the most important outcomes are decided, and if you are an expert on reading charts but you have a low emotional intelligence then you will make a mistake from which it will be almost impossible to recover.

That's what I thought before that you have to learn all the indicators to become a profitable trader. I learned many indicators but instead of making it easy for me to trade, it complicates my trades. If you're going to use an indicator to determine the trend, you can either choose moving averages or Bollinger bands, no need to use both of them in the chart because it's useless.
And yes, emotional stability in trading is very important to be successful and that's why some people says that it's 90% psychology and 10% TA.

I tried TA for several years, but it didn't show its effectiveness. So I don't use moving averages and other TA tools. I am an adherent of fundamental analysis.

Psychology really has a huge impact on trading. There are even special psychologists for traders if you want to improve your morale. But you need to be very careful when choosing them. This is a favorable area for many scammers who pretend to be a real psychologist, so you need to choose very carefully.

I heard someone like you who just trade fundamentally, but because you're not using TA you don't know where is the invalidation and where is the take profit area. In other words, you didn't put stop loss? And take profit when happy? If yes, you're likely using a spot trading because if you trade with leverage, it's so risky. Personally, I trade both TA and FA before but when I observed that the news mostly come when the price accumulate, I decided to focus more in TA.

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Quote from: ShowOff on July 13, 2023, 01:38:26 PM

Emotional control is also part of trading psychology. That is obviously very important for a trader as it will enable them to become successful traders later on. Experience and knowledge can support them, but as long as they are still afraid of losing, it is clear that controlling their emotions will be difficult.

As important as emotional control is when it comes to trading, majority of the traders can still not get rid of their emotion while trading. It's unarguable that emotion can not be utterly separate from human mind as long as there is respiration but it can be reasonable control only by a few percentage of traders. Lose and risk tolerance is the reason we think that some traders can control emotion but in actual sense it is the risk they're capable of tolerating.

Man by nature is greedy and by implication, there's no single trader who is not afraid of losing but what matter is what happen after the lose. If you can not maintain focus and allow the lose to destabilize your thoughts, then you are not ready for trading. After all, emotion remain the key factor that influence trading success and failure.

Topic: Things that influence our trading decisions - page 3. (Read 712 times)