Do you trade based off emotions?

[Ceizer54]

To be honest,yes sometimes i do trade based on emotions but i never trade big amounts..Usually i trade for fun and see if ny predictions are correct
In most cases,my trading strategy is i look at trade history of others and simply buy bitcoins when i think it's the lowest it can go but i lost most of the times so yes emotions are involved.
My advice to others would be if you are not good at trading but still want to practice then trade low amounts and use mind more then emotions

[--Encrypted--]

yup. 60% of the time. which what made stop doing alt trading in the first place. now I just do it when I'm sure (kind of) that the price will drop/rise.

[HydroThunder]

I'm not sure if the poll was needed. I feel that when I see other people (on these forums, comments on articles, troll box) are excited I have a hard time refraining from excitement. That isn't a problem for me, unless I start making trades in that state of euphoria.

[Nami]

To the poll; have emotions influenced your trading decisons before?  I'm curious to see how many if us have fallen for our own mind games. Do not look at it from the lens of now. But think back to the time and try and figure out if it was an panicked choice, or a logical one.

Did you sell while the prices were falling from the ATL because of panic? Did you buy LTC at 30 dollars? Try and differentiate between sound choices and pure emotional speculation. This may be a good thread for people to reflect and see if they are making their trades wisely or not. Although someone's best logical choices might be worse than someone's best emotional choices.

No cant do that I have to investigate first before investing my money.

[NorrisK]

I have to admit that in the start I did some FOMO buying that I regret now. (luckily, it was not too much)

Currently I have most difficulties with selling some of my coins due to emotional attachments..

Atleast I recognize it and therefore I'm not going to start any daytrading or investing in new coins anymore.

[tokeweed]

To the poll; have emotions influenced your trading decisons before?  I'm curious to see how many if us have fallen for our own mind games. Do not look at it from the lens of now. But think back to the time and try and figure out if it was an panicked choice, or a logical one.

Did you sell while the prices were falling from the ATL because of panic? Did you buy LTC at 30 dollars? Try and differentiate between sound choices and pure emotional speculation. This may be a good thread for people to reflect and see if they are making their trades wisely or not. Although someone's best logical choices might be worse than someone's best emotional choices.

Always.  I love revenge trading.  It makes me a lot of manies.

[spazzdla]

I have strong holding hands,

very weak buying hands.. I like my coins... I buy coins lol.

[NoRespect]

Yes, 1-3 times maybe...but I often hold until prices rise

[fuddudle]

One of the hardest things about being a trader is keeping your emotions in control. The market maker will do everything he can do sway you but if you made a good decision, then don't let short term freak you out.

[Soros Shorts]

Of course I do. I trade based of greed, fear and hunches.

1) Hunch - tells me which direction the market will go.
2) Greed - makes me open a position that is too big. Also makes me hold on to a winning position about to turn bad when I should be selling it and moving on.
3) Fear - the fear that I will "loose everything" makes me close my losing position at the worst possible time.

Oh yes, I forgot anger, the most important emotion.

4) Anger - after my trade starts going south, if anger overcomes fear then I capitalize on this emotion to do Revenge Trades, where I use borrowed funds to double down on losing positions.

[doublemore]

To the poll; have emotions influenced your trading decisons before?  I'm curious to see how many if us have fallen for our own mind games. Do not look at it from the lens of now. But think back to the time and try and figure out if it was an panicked choice, or a logical one.

Did you sell while the prices were falling from the ATL because of panic? Did you buy LTC at 30 dollars? Try and differentiate between sound choices and pure emotional speculation. This may be a good thread for people to reflect and see if they are making their trades wisely or not. Although someone's best logical choices might be worse than someone's best emotional choices.

Yes i bought when the hype was at high points before but oh well thats what you do when you aren't a pro trader.  Im up overall for being in bitcoin and litecoin so looks like i did ok.

[YuginKadoya]

I do my Research I don't let emotions take over my decisions about trading, but I know you can't control emotion
sometimes, but I research more often and taking to account a suggestion of other peoples thought about what is
good or bad! 

[ajrah]

If you received you pay from signature campaigns or if you received a notice that payment has been credited to your account and you go straight to your favorite trading platform, you are already trading based on emotions because you are excited to invest your earned Bitcoins right?

[victoryboy]

Yes,quite a few times I did trade which were based on emotions and panic.Now I have learned from my bad decisions and doing better than past but still sometimes it happens because we are driven by emotions most of the times.

[mordekaiser]

To the poll; have emotions influenced your trading decisons before?  I'm curious to see how many if us have fallen for our own mind games. Do not look at it from the lens of now. But think back to the time and try and figure out if it was an panicked choice, or a logical one.

Did you sell while the prices were falling from the ATL because of panic? Did you buy LTC at 30 dollars? Try and differentiate between sound choices and pure emotional speculation. This may be a good thread for people to reflect and see if they are making their trades wisely or not. Although someone's best logical choices might be worse than someone's best emotional choices.

Maybe I might trade based on how I feel, I trust my instincts for somethings and it didn't get me wrong and I think I can also applied it when investing.

[tmfp]

Of course I do. I trade based of greed, fear and hunches.

1) Hunch - tells me which direction the market will go.
2) Greed - makes me open a position that is too big. Also makes me hold on to a winning position about to turn bad when I should be selling it and moving on.
3) Fear - the fear that I will "loose everything" makes me close my losing position at the worst possible time.

Oh yes, I forgot anger, the most important emotion.

4) Anger - after my trade starts going south, if anger overcomes fear then I capitalize on this emotion to do Revenge Trades, where I use borrowed funds to double down on losing positions.

So, you'll be one of the poor side of the Soros' family then?
 

[bitmarket.net]

Emotions always plays a part in every trade. The experienced traders learn to suppress emotions and base decisions on charts, signals and market developments. Some people just can't be traders because they are too emotional, and some are born successful because of his personal traits.

Emotions are almost impossible to supress - after all we are human beigns and not machines.
The trick is to learn to listen to what your emotions are telling you.

[jt byte]

Sometimes yes, if i am happy maybe i risk up to 1BTC at once.
But sometimes when i am sad, i also trade but in less amount.
Since i am a human and not a trading bot, the emotions affect to trade or not to trade.

[bitmarket.net]

I recommend a very good book on how to use emotions in your trading:
Market Mind Games: A Radical Psychology of Investing, Trading and Risk by Denise Shull

[LMGTFY]

Sometimes yes, if i am happy maybe i risk up to 1BTC at once.
But sometimes when i am sad, i also trade but in less amount.
Since i am a human and not a trading bot, the emotions affect to trade or not to trade.

A technique I found helpful is to wrote down what would need to happen in order to trade, and only trade when the criteria were met. For example: "(1) if BTC/USD reaches $300 and then falls below $300 then I'll go short. (2) If BTC/USD reaches $200 and then rises above $200 then I'll go long." Anytime I'm tempted to trade I check my criteria, and if they've not been met I know I'm just trading on emotion. It forces me to think through what likely scenarios are, and how I can profit from them (and, equally, avoid losing scenarios).