Top Three Emotions to Check to Succeed! - page 12.

michellee

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Quote from: wahyu wida on July 18, 2019, 12:23:47 AM

I personally sometimes feel afraid to buy or sell it, even though I already have a clear analysis. I think it takes confidence to be consistent in the analysis, it takes courage to turn it into practice

Maybe you need to control your afraid and try to buy or sell in some amount and then let see the result. If everything goes right, then you can continue to buy or sell and don't forget to stop if you think you can reach enough profit. If you can not stop, then you probably will get a loss because you are too greedy to chase the profit.

Kemarit

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These emotions are overly emphasize already. But why are people still falling for it? It's because it is really hard to check as people are know to always involved emotions. Specially in the market where we live in, tons of money and there is a lot of 'what if' in our mind. I also a victim of this as well, that's why I tend not to spend a lot of hours in front of my pc. If I hit my goal then I exited and not thinking of those "what if" moments because it will really affect me negatively in the end. At least we live another day and continue as compare to doing all trades in a day that could really impact your logical thinking.

hatshepsut93

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Emotions is not the only reason why people make bad trades, often times it's simply the lack of experience, and this is especially common in Bitcoin because there are so many first-time investors here. You can blame emotions if you are experienced trader and become nervous and make bad trades, or when you become emotionally attached (with either negative or positive emotions) to some asset and no longer analyze it objectively.

wahyu wida

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I personally sometimes feel afraid to buy or sell it, even though I already have a clear analysis. I think it takes confidence to be consistent in the analysis, it takes courage to turn it into practice

sheenshane

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I am related to confidence right on this statement, last week the market had a good condition and upward situation that's why I didn't sell my token from the project that I participated and I am felt a confidence that it will go up a little more. But now, s**t almost 40% from holding had lost but I'm not losing hope and confidence that it will back to normal situation. I am not greed but isn't bad if we looking more profit than we expected.

OP, maybe make it top 4 of emotions to check to succeed. Cheesy

4. PATIENCE - patiently wait and the right timing is also considering though.

peter0425

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Ah, the dreaded emotions that everyone should control. It is really difficult in the beginning in learning how to control it though. It takes time and even practice. People responded different, others succumb very fast while there are people who are really good at it. So this is a good advice for newbies, just track and write down everything at the beginning of your journey so that you will have something to look back and can correct your mistakes. So that as you go along, those can be check and you can grow your emotions to be more positive on your end.

Jating

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Quote from: Darker45 on July 14, 2019, 07:14:56 AM

Quote from: FanEagle on July 14, 2019, 05:31:32 AM

I think we can add a fourth one but that could be diluted between these three as well if you want. Its hype, I don't know if hype is an emotion or if we could rename it like something to "rush" or "excitement" or whatever but when people see bitcoin or any other currency going up like 50% then they want to get in as well, that is a wrong type of thinking and hurt many people over the years.

Oh yes, there is that kind of feeling. It is not fear for sure but it is that kind of feeling that you don't want to miss something, a feeling of wanting to be with the crowd, of joining the party with the rest. This is a little bit similar with bandwagon mentality. Most often, it is fun to go with the flow of excitement and adrenaline. At the end of the day, you are doing it without much thought and you end up losing. That is always the end when reason is left out.

That's pretty much FOMO. I know that it's part of human nature, but I do think that we can all control. We should always think of the consequences of our actions. I mean if you jump on the bandwagon, how you can exit? Do you have plans?

And that is why we really need to be perform, otherwise we might end up losing. Of course that is not our goal in this market so we should really learn how to control, specially our human greed.

Gibreil

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Actually, we can never control them instantly.
As Sigmund Freud stated on his 3 components of personality, we have id, ego and superego.

Id is our subconscious, we are dreaming of the thing or event that we really want to happen. Just like dreaming to be a millionaire in just one moment trade. With that case, we becomes greed. We will just control it if we our superego reacts. That happens when we balance our emotions and satisfy our desire.

el kaka22

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This reminded me the speech from wall street movie with Michael Douglas who said "greed is good", it kinda is true, because what we talk here about greed being bad is actually being too greedy and not greed itself, a bit of greed is good.

A person with no greed at all won't buy bitcoin to make more money, a person with no greed will not look to arbitrage between altcoins-btc-usdt to make more profit, a person with no greed will not be really trading full stop. That is why I think a bit of greed is definitely required to become a bitcoin investor, it is just that you have to find that mid level for greed, if you are too greedy then you may end up losing more than you earn, if you are not greedy at all then you may get out too quickly, find that great spot of greed where it fuels you to make money but also not too big to make you lose as well.

Ridwan Fauzi

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We know all these things are bad for our trade/invest (although I guess it depends on someone) but we will do it sometimes and never know what must be done to solve it.

Moreover, the habit thing especially in our emotions is not easy to change even we have read a lot of the strategy of trade/invest but sometimes you should know just a few strategy who suitable with our fashion.

But for myself I have a strategy to set profit that I want before I start to trade/short term/long term investment, so I won't change my strategy in any situation. I don't care if the profit that I wanted will be long to reach even its price just continue to down. Such as last week I bought X altcoin and I set price to sold and until now the price hasn't reach it even the price altcoin continue to down, but it was my risky that I must be faced.

Darker45

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Quote from: FanEagle on July 14, 2019, 05:31:32 AM

I think we can add a fourth one but that could be diluted between these three as well if you want. Its hype, I don't know if hype is an emotion or if we could rename it like something to "rush" or "excitement" or whatever but when people see bitcoin or any other currency going up like 50% then they want to get in as well, that is a wrong type of thinking and hurt many people over the years.

Oh yes, there is that kind of feeling. It is not fear for sure but it is that kind of feeling that you don't want to miss something, a feeling of wanting to be with the crowd, of joining the party with the rest. This is a little bit similar with bandwagon mentality. Most often, it is fun to go with the flow of excitement and adrenaline. At the end of the day, you are doing it without much thought and you end up losing. That is always the end when reason is left out.

gentlemand

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You need to get rid of all emotions, not just those but they are indeed the prime ones that'll drive you to ruin.

I think you're either born with it or you're not. It's conceivable you could train that stuff out of yourself but by the time you manage that you'll probably be living in a storm drain.

Lanatsa

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Greed- Part of human nature yet we do easily react on things that do involves money yet we do see this as the main part of our lives.
So acquiring or losing it does really affect our actions.

Fear- This is inevitable but experience would be the the thing that will gradually overcome this problem.

Confidence- Anything which is considered over is already been bad.Dont be too confident in all sorts of things yet theres still much thing to be known about.

xSkylarx

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Quote from: Darker45 on July 13, 2019, 12:16:04 AM

Admittedly, I am also struggling. But I guess we really need to control them. What do you think?

We must really need to control those 3 and I think it's normal that everyone experience that. It is not easy to control but it will really help to become successful.

Confidence is ok if you have wide knowledge of what you do. And fear, it challenges yourself if you are strong enough to risk. Controlling your greed would be the greatest challenge.

BitHodler

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Quote from: rosezionjohn on July 14, 2019, 06:01:34 AM

A lot of my previous trading mistakes were also due to those listed in the OP. I am not sure if there is really a top three emotion because all kinds can affect your trading. If you are angry or annoyed at something, it will be hard to focus.

There is always more to it. For example, if you haven't had enough sleep your trades will suffer because you're less likely to make well thought out decisions. This has nothing to do with greed/fear/confidence. It's just a bad decision.

One of my main mistakes in the past was that I ignored the charts and just went with what I thought the market would do. I think this fits more in the category of being naive or ignorant, maybe even confidence.

What I have noticed in the last couple of years are people thinking that it's easy to make a fixed percentage in profit every day by trading. I'm not sure where they got that from, but they obviously haven't done any trading themselves.

Even the best traders in the world don't make profit on a daily basis. More precisely said, they quite often tend to close daily trading sessions with a loss, but manage to note a profit at the end of the month.

mirawantirinjana

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Greed is the first, especially for beginners. seeing very volatile price movements they are usually carried away by their emotional atmosphere and greed.

FanEagle

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I think we can add a fourth one but that could be diluted between these three as well if you want. Its hype, I don't know if hype is an emotion or if we could rename it like something to "rush" or "excitement" or whatever but when people see bitcoin or any other currency going up like 50% then they want to get in as well, that is a wrong type of thinking and hurt many people over the years.

I have seen people buying bitcoin at 20 thousand dollars as well, I mean when something goes up so much you should be staying away and watching what will happen, buy it when it goes down and sell it when it goes up because if you buy when it goes up in the end you will be disappointing eventually. That is why I think we can add that 4th one and make it be hype or whatever we can name it.

jossiel

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Everyone I guess struggle with these emotions and even I've been into trading for quite awhile, I'm still feeling those things. When I was new to crypto trading, I usually think of ceiling price before selling and that made me broke because my plan wasn't executed properly.

And there's feeling that whenever I sell, I'm feeling the 'what if?'. What if the price goes higher afterwards and then I removed this question to my mind and started to become contented with each sale that I do. With the confidence, I'm confidently holding bitcoin and I think this will be my best bet of my life.

1982dre

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Also a lot of greed when I started trading. Even after a few year I was still greedy so I just decided to stop trading.maybe I will try it in a few years .

jrrsparkles

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Quote from: samputin on July 13, 2019, 05:32:48 AM

Greed really is number 1. I know a friend who has a good signature campaign. But, because it doesn't pay that much, he applied for a different campaign and was accepted luckily. But it only lasted for several rounds which left him with no source of income for a while. And he told me that his reason for changing a campaign was greed.

Our hunger for more sometimes lead to disaster, that instead of gaining bigger, the tendency is we lose bigger. That's why in any aspects, we must always be mindful. 'Think deeper, know better' kind of mind set.

Signature campaigns will not make you rich please understand what is the meaning of rich and success.

OP these things also needed to be successful but for me most important thing is smart thinking and need to be different when we compared to the common man's mindset but we need to understand what others think then themselves

Topic: Top Three Emotions to Check to Succeed! - page 12. (Read 2427 times)