How to get rid of emotions when trading

[Pasnik]

Emotions during trading will brings you failure better have a self confidence and control your emotions when trading. Focus on your goal to earn profit. Always comes in the mind to earn profit and dont be too emotional accept the risks in trading.

[Ailmand]

Getting emotional for your money is normal but minding it for so long isn't. Getting rid of your emotions while trading might broke you. The right way to manage it is to control it example trading dedicate yourself into giving you heart and mind to pick the best suited for you being emotional on your loss won't give you knowledge instead learn from your mistakes and strong dedicate yourself from learning and soon controling your emotions will be natural.

I would agree that it's normal, and you can't really stay away or be a rock and not be emotional about doing things, I think the better term is not to "get rid" but to control it in such a way that it would not have any significant effect on how you decide on things, whatever the situation is, especially when you are losing some investments or even after losing a trade. The more you can handle and control your emotions, the better your eyes can see things objectively, and having that keen and open eye, could guide you to choose better deals that nonetheless would be difficult if you are blinded by emotion.

[Ayiranorea]

With cryptocurrency trading one needs to learn the methods that help in overcoming the emotional failure. Because when a trader takes a decision with a emotional force and in a relaxed mood has got difference. Probably the decision taken with emotional force most of the time leads to fall than growth.

[capoeira]

next topic:

"How to get rid of grey hair as a hodler?" lol

[Pattart]

The most important thing for the investor is to have patience.  Many newcomers rush to make a profit and are mistaken on this.

Yeah, I think the key is to be patient because patiently you can keep yourself from doing cutlose or selling at a low price,
without patience, of course you will play emotionally and it will cause losses like easy to panic..

[doch]

Emotions during trading will brings you failure better have a self confidence and control your emotions when trading. Focus on your goal to earn profit. Always comes in the mind to earn profit and dont be too emotional accept the risks in trading.

Do you have any tips which can be helpful in controlling my emotion. in fact i do not have any control over my emotion, which really effect my trading so badly.i really want to have good control over my emotion while trading or investing money in crypto currencies or even when i am playing gambling.

[okocrypto]

No emotional person ever become profitable in trading. Trading requires discipline and patience which emotions is against. The first step in getting rid of emotion is to realize that two things are inevitable: either you lose or you gain. When the former happens, risk management is the cure and not emotions.

[asyakashi]

No emotional person ever become profitable in trading. Trading requires discipline and patience which emotions is against. The first step in getting rid of emotion is to realize that two things are inevitable: either you lose or you gain. When the former happens, risk management is the cure and not emotions.

yes it is very difficult to accept defeat and realize that trading risk is part of the risk that must be faced. This emotion always says "I have to get a profit" this may be something that must be resisted.
Emotion is an important part and I can't control it, it's very difficult to get rid of panic when prices fall.

[thresher]

Usually I am preparing myself to the process of trading, I listen to the calm and positive music, usually I am drinking green tea with mint. You can think that I am kidding but this is real, I'm trying to be as calm as it is possible.

Its look like easy to control our emotion but not so easy. I think it need a good experience in trading which can make you able to control yourself and take a right decision in a right time. So having good experience in trading can enable you to take a correct decision on time.

[FXTradingPro]

You need to first differentiate between trading and investing. They are completely different. Investing is spreading your risk around so you are not dramatically impacted by specific market moves.

Trading is where you define the asset that you will speculate on. That comes with a plan and preparation. Emotions play less a role when a plan is put into place and if the trader has established a clear plan with entry and exits. Risk parameters should be adhered to.

This can help remove some of the emotional stress when trading.   

[gabmen]

Usually I am preparing myself to the process of trading, I listen to the calm and positive music, usually I am drinking green tea with mint. You can think that I am kidding but this is real, I'm trying to be as calm as it is possible.

Its look like easy to control our emotion but not so easy. I think it need a good experience in trading which can make you able to control yourself and take a right decision in a right time. So having good experience in trading can enable you to take a correct decision on time.

Lol that sounds like being meditative in trading. I think it would not be so easy though for most people especially when you're actually seeing your money slowly but surely dropping in value. But worth a try for those nervous newbies 😛

[gunungkembar]

in my opinion it should be able to trade with ease and confidence and must be able to control the patience that you have not to be lured and not to be easily emotional.

[legenduim]

To my mind, this is the best way to trade-when you don't have many emotions as they may prevent from thinking logically. you should do your best to avoid any kind of emotions, especially those which are too strong

A very emotional person cannot be a trader. IMHO. You have to be a rationalist, the man who uses his logic, not emotions. You must be ready to bear the stresses from losses and be very patient always.

[capoeira]

To my mind, this is the best way to trade-when you don't have many emotions as they may prevent from thinking logically. you should do your best to avoid any kind of emotions, especially those which are too strong

A very emotional person cannot be a trader. IMHO. You have to be a rationalist, the man who uses his logic, not emotions. You must be ready to bear the stresses from losses and be very patient always.

the rationalist will have a hard time understanding mass psicology though.

[heninur]

to control emotions when trading, you must be aware of the risks that you will face when working in crypto.
we also have to be patient with rising and falling market prices not in accordance with our predictions, if we are impatient our emotions will not be controlled.

[GreatArkansas]

Emotion is the main enemy of every trader nowadays. Specially when bear market, when you can't control your own emotions, you may lost your money in just a seconds. As a trader, we should know how to control our own emotions before anything else.

[tailwate07]

Usually I am preparing myself to the process of trading, I listen to the calm and positive music, usually I am drinking green tea with mint. You can think that I am kidding but this is real, I'm trying to be as calm as it is possible.

Its look like easy to control our emotion but not so easy. I think it need a good experience in trading which can make you able to control yourself and take a right decision in a right time. So having good experience in trading can enable you to take a correct decision on time.

It is not possible to get rid of your emotions entirely and that it is better to practice the ways which can then help you in controlling your emotions as it is the only thing which can then save you from any such kind of decision which can result in loss of money. It is the most difficult thing to do but you have to master yourself so that you can get what all you expect to have.

[Clavulanic]

Emotion is the main enemy of every trader nowadays. Specially when bear market, when you can't control your own emotions, you may lost your money in just a seconds. As a trader, we should know how to control our own emotions before anything else.

Experience plays a big role in handling emotions in trading. It can't be taken away entirely, we just need to handle it out well. I guess it still has a purpose as it guards us from being too comfortable. The thing is we just need to be knowledgeable enough to utilize it effectively and wisely.

[Karmakid]

Getting emotional for your money is normal but minding it for so long isn't. Getting rid of your emotions while trading might broke you. The right way to manage it is to control it example trading dedicate yourself into giving you heart and mind to pick the best suited for you being emotional on your loss won't give you knowledge instead learn from your mistakes and strong dedicate yourself from learning and soon controling your emotions will be natural.

I agree, if you want to get rid of losses then you should better get rid of too much emotions during trading. It is just like another way of professionalism where we could still work under pressure. We might face uncertain situations but we should know how to handle it and must have more patience.

[KnightElite]

Our brain is hardwired to go into a fight or flight mode under stress, resulting in emotional responses like greed (taking too large risks), anger, fear (panic-closing) or fear of missing out. While this is a good thing when fighting lions in the savannah, it is a horrible thing when trading, and you need to make smart decisions and keep to your plan to keep making profits.
This topic will focus on how to get rid of emotions while trading, or at least make the best decisions which are not based on emotional responses of our ape brain. So how can we achieve that?

1 with good preparation
2 with checklists
3 with process orientation
4 with active emotional detachment

Good preparation:
If you watch a Football game or a Boxing match usually the team or player wins that has done the better preparation. The same goes with trading. Accumulate knowledge about the subjects of trading as much as possible. Start with small amounts and small leverages until you really know what you are doing. Be consistent, create good habits early on and keep them up. Make sure that you are mentally fit, live healthy, eat well, sleep enough and regularly, and exercise enough. Have a schedule. Track your preparation, track your results and analyse them. What were mistakes you could avoid in the future?

Checklists:
When things go down and away, it is always good to have a checklist. For example: surgeons usually have checklists that prevent them to go off the rails while performing a complicated procedure. Their checklists makes it absolutely clear in which order they need to perform what step, which frees up mental brain power for the actual process. So from your past make checklists what made your trades profitable and focus on those kind of trades that have done well in your past.

Process Orientation:
With the checklist, we should be able to make good trades more often than not. All we need to do now is focus our metal brain power on the process and not on the outcome. As we have built enough expertise and a checklist that we follow, we focus on rules and our discipline, not on the outcome of a single trade, because as we all know one trade can always be good or bad, independent of how well it was thought out.

Active emotional detachment:
There is something called Tilt in Poker. Some players will actively try to insult players after bad beats to make the go tilt, or "emotional". This will result in very bad decision making. Maybe you remember Zinedine Zidane in his very last World Cup Game, head butting the italian player and getting sent of the pitch with a red card. The worst possible outcome. TILT.
If you still feel like you get emotional about trades, there are a few things you can do: Lowering your margins, lowering your leverage, take a break, breathing exercises, watch your favorite series or listen to music. Get a little distance to your trades, before continuing. NEVER trade on TILT.

How are you dealing with your emotions? Anything to add or to take away from this?

Controlling your emotions are of the best way for you to avoid losses. If you can't control your emotions then there is a big possibility that you can experience. You should really improve your self control.