Trading, emotions and your fine selves - page 3.

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: AnonBitCoiner on June 27, 2018, 10:36:22 AM

From my point of view ,we need more knowledge in trading then holding.Because in trading,we have to analysis the market very deep and buy at the maximum low price then the market price.Then only you will get more profit from it.If you have patience ,you can easily hold the bitcoin.

Knowledge actually helps a whole lot to help rule out any form of emotion when it comes to trading. I only got caught up in emotions in my early years of trading but as time goes on, when I realized emotion never helps in anyway and I would be doing better if I stick with what I know than trying to assume for the market, then I tend to do better.

As the confidence started building, emotion started becoming the last part of me when it comes to trading but in the first few year and when it comes to not having much knowledge, it is just one thing you cannot run away from.

BabyBoss

full member

Activity: 462

Merit: 100

Quote from: gentlemand on June 20, 2016, 07:27:01 PM

Who here feels they have a handle on their emotions when it comes to trading or holding?

I think it's an area that many people like to feel that they've mastered, but if they saw playbacks of their actions a while down the line it would be screamingly obvious that they haven't.

To give a personal example I have a few XEMs. A few months back I was looking to consolidate all the crypto threads I had lying around so looked into selling a sizeable chunk as they'd been pretty stagnant for a while.

Being a bit dim and easily distracted I forgot about it and so stuck around for a 20-25x rise. Had my concentration held I probably would've gotten rid of them and would now be wailing and puking. In that particular case boredom and impatience nearly got the better of me.

There are countless examples on this forum of people declaring things dead or emphatically stating that such and such price will never happen again and giving up. Same goes for people going all in at the peakiest of peaks.

Have you yourself found your emotions tripping you up or are you an emotionless trading terminator?

Yes we can feel emotions when we finally take it as our lose. Like after selling it will go up more then you are on your emotion “what if it will never go back on low price?” So you will going to buy higher than what your price on selling it. Very wrong move when you are overtaking with your emotions. Wait and you’ll see.

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: fudster on June 27, 2018, 10:58:33 AM

Emotions are hard to battle with when you see you are losing money. There are books about this which is mainly for foreign exchanges traders but have not read any for crypto traders. One thing that I always remind myself when losing money due to small investments that I did is that, I am an early investor in crypto, in time this investment of mine will grow and it don't matter when.

Emotions are not hard to battle if you are confident in your decisions and accepting that you cannot be right all the time as the market can move as it pleases.

All the above, with good knowledge and experience, it is something that can be discarded. Making decisions in the market out of emotion will never lead anywhere but mistakes, but making decisions based on knowledge of what you are trading and what to expect from your analysis and plotting out your strategies, will always give you that confidence and most of the time, you will be right and better than when you let emotion come to play.

TanteStefana

full member

Activity: 280

Merit: 100

The Future Of Work

I found for myself one useful thing in Trading, I just consider this digits on the screen as opportunity to have money, and not as actual earned money, and so it is easier for me to trade them.

Balmoon

newbie

Activity: 118

Merit: 0

I think it is very important to control emotions in such trades because investing in crypto takes patience and risk, antrara holding or selling it must also have the right predictions.

tee-rex

hero member

Activity: 742

Merit: 526

Quote from: gentlemand on June 13, 2018, 05:21:53 PM

Quote from: trumper on June 13, 2018, 05:18:10 PM

I can handle my emotions on holding but when trading it is impossible for me to always keep calm and be fine. Trading is much harder than hodling.

Yet it's looked down upon by these pinheads who think they're heroes getting caught up in some scumbag's pump.

I'd love to see the stats of people who got in a couple of years ago who did nothing but hold versus people who started trading two years ago. My suspicion is the vast majority of traders will be miserable failures.

That would be meaningless statistics. Yes, the prices in June 2016 were around $600 per bitcoin. They had been rising through the first half of 2016 but right before the halving, which occurred on July 10th (if I'm not mistaken), there was a major correction. That means that even with today's prices of $6k, profits are really good for a 2 year-long holding. These are solid figures and I don't expect anyone to challenge them.

Nevertheless, while they definitely are, there's the second part of the equation, which is traders. And thus you can't draw any definitive conclusion as some traders made a lot more than that (compared to simple holding), while the others couldn't probably even make it into the green zone at all. It means that even if the majority of traders failed miserably, which is itself a tricky question as no one would be trading for 2 years seeing only losses, you can't make such a comparison.

alminium

jr. member

Activity: 112

Merit: 1

Yes panic is your worst enemy every time you see a downward movement from Bitcoin You can not help yourself to sell instead of waiting for the descending trend to end and wait to recover. You can say that you are just an ordinary merchant who puts aside his emotions while trading. So you can still fall.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Quote from: needtor22 on June 27, 2018, 10:24:40 AM

For the current market development is unpredictable, because the average Alt prices fall, I think we are patiently waiting for higher price increases, so we will generate a lot of profits at high prices.

No one should ever blame themselves if they ever let emotion get the best part of them in trading but the thing is to always learn from the outcome of such emotions and make better decisions next time. After learning a lot about trading and I thought I was ready to go, emotion was just the first problem I had, but over time, I got used to the idea of just sticking to what I know and not what I feel.

When I feel the signal to get out is there, I do with a stop loss or alarm believing the market can still change course, and same applies to when the market is going up as well. We cannot always be right 100% of the time, but knowing how to play one's card without emotion helps a whole lot.

charlotte04

full member

Activity: 504

Merit: 102

Quote from: gentlemand on June 20, 2016, 07:27:01 PM

Who here feels they have a handle on their emotions when it comes to trading or holding?

I think it's an area that many people like to feel that they've mastered, but if they saw playbacks of their actions a while down the line it would be screamingly obvious that they haven't.

To give a personal example I have a few XEMs. A few months back I was looking to consolidate all the crypto threads I had lying around so looked into selling a sizeable chunk as they'd been pretty stagnant for a while.

Being a bit dim and easily distracted I forgot about it and so stuck around for a 20-25x rise. Had my concentration held I probably would've gotten rid of them and would now be wailing and puking. In that particular case boredom and impatience nearly got the better of me.

There are countless examples on this forum of people declaring things dead or emphatically stating that such and such price will never happen again and giving up. Same goes for people going all in at the peakiest of peaks.

Have you yourself found your emotions tripping you up or are you an emotionless trading terminator?

I do also believe that when it comes to trading the biggest problem we are always encountering is our selves and our emotions. I truly lost a lot from that but now I do learned my lessons.

minairia3

sr. member

Activity: 1498

Merit: 326

SecureShift.io | Crypto-Exchange

Emotionless state is when you see money as an object not as a thing to change your life. But the money is really one thing. And the other factors would be pride, greed, addiction etc. It just requires a good practice and discipline.

Aris novianto

full member

Activity: 448

Merit: 100

if trade is never emotional, because if our minds are emotional we would definitely lose, if you want to trade must be patient and also must be careful in choosing the coins that we will invest.

fudster

sr. member

Activity: 1190

Merit: 255

Emotions are hard to battle with when you see you are losing money. There are books about this which is mainly for foreign exchanges traders but have not read any for crypto traders. One thing that I always remind myself when losing money due to small investments that I did is that, I am an early investor in crypto, in time this investment of mine will grow and it don't matter when.

AnonBitCoiner

sr. member

Activity: 1428

Merit: 326

Eloncoin.org - Mars, here we come!

From my point of view ,we need more knowledge in trading then holding.Because in trading,we have to analysis the market very deep and buy at the maximum low price then the market price.Then only you will get more profit from it.If you have patience ,you can easily hold the bitcoin.

needtor22

copper member

Activity: 294

Merit: 0

For the current market development is unpredictable, because the average Alt prices fall, I think we are patiently waiting for higher price increases, so we will generate a lot of profits at high prices.

captaincomet

full member

Activity: 420

Merit: 100

Trading is mostly about dealing with emotions. I found very helpful a book by Alex Elder called "Trading for a living". There is a chapter about psychology.

foaman

full member

Activity: 274

Merit: 100

Quote from: gentlemand on June 20, 2016, 07:27:01 PM

Who here feels they have a handle on their emotions when it comes to trading or holding?

I think it's an area that many people like to feel that they've mastered, but if they saw playbacks of their actions a while down the line it would be screamingly obvious that they haven't.

To give a personal example I have a few XEMs. A few months back I was looking to consolidate all the crypto threads I had lying around so looked into selling a sizeable chunk as they'd been pretty stagnant for a while.

Being a bit dim and easily distracted I forgot about it and so stuck around for a 20-25x rise. Had my concentration held I probably would've gotten rid of them and would now be wailing and puking. In that particular case boredom and impatience nearly got the better of me.

There are countless examples on this forum of people declaring things dead or emphatically stating that such and such price will never happen again and giving up. Same goes for people going all in at the peakiest of peaks.

Have you yourself found your emotions tripping you up or are you an emotionless trading terminator?

I am feeling very intense and concentrated, when I am trading a lot... some times I even tend to drink a mint tea, in order to keep some more calmness...

Altcoins enthusiast

member

Activity: 490

Merit: 17

In trading we cannot completely wiped out emotions but we can make some trading decision that is going to help our emotions and put us in advantage. You cannot really make money if your emotions is the decisions making in the trading then you are going to get frustrated but if you allow your knowledge to decide for you there is no how you will not make it.

perfect999

sr. member

Activity: 1652

Merit: 299

Quote from: gentlemand on June 13, 2018, 05:21:53 PM

Quote from: trumper on June 13, 2018, 05:18:10 PM

I can handle my emotions on holding but when trading it is impossible for me to always keep calm and be fine. Trading is much harder than hodling.

Yet it's looked down upon by these pinheads who think they're heroes getting caught up in some scumbag's pump.

I'd love to see the stats of people who got in a couple of years ago who did nothing but hold versus people who started trading two years ago. My suspicion is the vast majority of traders will be miserable failures.

This field is totally defend from others. You can’t just be determined over something that is natural to everyone. There have been so hard hearted and feeling less people been in trading but when it comes to your investment that is on stake, those people were scrummed so many times. But still we always true to remove this insecurity from ourselves and try to move forward.

MrMac1000

newbie

Activity: 36

Merit: 0

It depends. Sometimes I tend to go with the flow of my emotions, other times I am patient and don't let downswings affect my mood.

Best Dreams

full member

Activity: 1008

Merit: 101

Quote from: redsun114 on June 13, 2018, 03:26:50 AM

Quote from: DirtMcGirt36 on June 10, 2018, 03:38:39 PM

Acting like a robot seems to work out quite well. No emotions, only profits

Like a business theory, we can also consider this option. There is a saying according to that theory, we only want a pair of hands that must not have any connection with brain. Here in trading as well, we might say we can be robots who don’t have any emotions. Those who would just do work for getting profit according to the best strategy. This would help us to make good results.

In trading you will have to control your emotions as anything can happen, price often rises often it falls but it does not mean you take too much stress and compel yourself to sell it at panic, I think now a day best thing is holding, keep your emotion away while you are trading as this is thing which can destroy all your profit, as you said in trading there is no of heart and brain, just use your skills and your luck will help you get success.

Topic: Trading, emotions and your fine selves - page 3. (Read 1496 times)