s0beit
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 11:53:30 AM |
|
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 with you. We should know how to handle our emotions during the dip because it might affect our decisions in trading. Our handling of emotions would also affect our decisions on when to sell our hodling so we should just keep calm during this kind of situations.
|
|
|
|
XinXan
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 02:43:45 PM |
|
Create a strategy and follow it always, 100% of the times. You can tweak it, backtest it but once you have your strategy, do not ever do something that's not in your strategy. This is the only way to get rid of emotions. Your strategy is mathematical, it's based on technical or fundamental analysis and other patterns, as long as you follow your strategy, you are not using your emotions. Obviously the hard part here is to actually follow your strategy. It's not as easy as it seems but it's the best way to do it.
|
|
|
|
joinfree
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 1246
Merit: 260
1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 04:04:54 PM |
|
The only way of doing so, is just to be relax while you are trading and just try to think on the profit that you are going to make per trade, that is the only way after all, i am 100% sure.
|
Crypto Enthusiast supporting innovative ideas for the Liberalization of the world from the Centralized Institutions.
|
|
|
vinbentrob
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 210
Merit: 10
“Tackling Climate Change Using Blockchain”
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 04:08:03 PM |
|
As long you are not a robot you can not separate yourself from your emotion, you can only grow up and take charge of your emotion by controlling it rather than allowing your emotion to control you.
|
|
|
|
cardo
Newbie
Offline
Activity: 65
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 06:31:14 PM |
|
Also don't depend on other opinions about their guess price and criticizing the coin. always believe on your coin and don't make panic selling. don't let emotions controls your strategies.
|
|
|
|
XinXan
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 07:05:36 PM |
|
Create a strategy and follow it always, 100% of the times. You can tweak it, backtest it but once you have your strategy, do not ever do something that's not in your strategy. This is the only way to get rid of emotions. Your strategy is mathematical, it's based on technical or fundamental analysis and other patterns, as long as you follow your strategy, you are not using your emotions. Obviously the hard part here is to actually follow your strategy. It's not as easy as it seems but it's the best way to do it.
Unpredictable things might happen along the way, just be attentive and knowledgeable, we should know what we will react in every situation that may come in trading. Not really, though. What can really happen? If you are trading using a strategy, you have stop losses set and you also know when to take profits on the way up, even if the market randomly crashes 20% it doesn't matter because you have your stop losses. A strategy is the best way to trade, almost no one can do it though.
|
|
|
|
matej451
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 203
Merit: 14
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 07:14:16 PM |
|
I think experiance is the best way to put your emotions aside when trading. There is no such thing you Will not have emotion at your first trades.
Best thing is for you to establish a system that suits you and than stricly follow it for entry trades and out trades. When you stricly follow the rules no mather what then emotions are no longer playing so important part of your trading.
Good trades to all…..
|
|
|
|
boy130
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 07:14:57 PM |
|
Sometimes you need emotions when trading, as it allows you to understand the emotional market sentiment, however for the most part, it leaves you hanging onto bags which you would otherwise have dumped at the first sign of trouble. The truth is, you should keep a balance between the two, particularly when trading more volatile coins. You probably don't need to use much emotion when trading Bitcoin or Ethereum for example. That's probably why it's best for emotional people to try hands off approaches, so they don't screw themselves over.
|
|
|
|
Kate Beckett
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 280
Merit: 28
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 07:27:06 PM |
|
Do not look at the charts all day. now I know that most of the mistakes I made at these moments, without doing anything useful, I watched the price of my investments - it made me worry and make unnecessary deals, and this is exactly what you shouldn`t do. Sometimes the best thing to do is put a limit order and close the terminal. Trust your strategy and remember - to trade without strategy means just playing roulette.
|
|
|
|
milewilda
Legendary
Offline
Activity: 3220
Merit: 1147
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 07:35:45 PM |
|
Agree on these 4 things you had mentioned.
1 with good preparation 2 with checklists 3 with process orientation 4 with active emotional detachment
This is effective but totally be messed once your mindset would be broke out by a particular thing.If you do follow a protocol and you failed it up then negativity will surely be molded up.
|
|
|
|
NeverSop
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 518
Merit: 11
HODL
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 08:09:40 PM |
|
I think experiance is the best way to put your emotions aside when trading. There is no such thing you Will not have emotion at your first trades.
Best thing is for you to establish a system that suits you and than stricly follow it for entry trades and out trades. When you stricly follow the rules no mather what then emotions are no longer playing so important part of your trading.
Good trades to all…..
In order to be able to control the emotions, investors need to have a proper investment strategy and distribution plan so that investors always take the initiative in making the right investment plan. The market is very volatile so long-term investment plans are needed at this time.
|
|
|
|
totholio
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 294
Merit: 17
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 09:19:54 PM |
|
It's so sad that a lot of people finally learnt how to hodl/trade well and then suddenly the market crashed for months ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
|
|
|
|
XinXan
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 09:47:50 PM |
|
Sometimes you need emotions when trading, as it allows you to understand the emotional market sentiment, however for the most part, it leaves you hanging onto bags which you would otherwise have dumped at the first sign of trouble. The truth is, you should keep a balance between the two, particularly when trading more volatile coins. You probably don't need to use much emotion when trading Bitcoin or Ethereum for example. That's probably why it's best for emotional people to try hands off approaches, so they don't screw themselves over.
I don't know what's your definition of emotion but you certainly don't need emotion to understand market sentiment, you need knowledge. There is no such thing as using emotion here. In other fields it can work, like rage or anger in combat sports for example. I don't see how you can use emotions in this field, though.
|
|
|
|
Everandi
Newbie
Offline
Activity: 47
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 09:49:03 PM |
|
Always try to have a break for hour or two, when market acts weird and when im starting to loose my investments, cause when you loose some, you train to gain it as soon as possible, thats a wrong strategy
|
|
|
|
Anandhi
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 10:02:14 PM |
|
I think experiance is the best way to put your emotions aside when trading. There is no such thing you Will not have emotion at your first trades.
Best thing is for you to establish a system that suits you and than stricly follow it for entry trades and out trades. When you stricly follow the rules no mather what then emotions are no longer playing so important part of your trading.
Good trades to all…..
In order to be able to control the emotions, investors need to have a proper investment strategy and distribution plan so that investors always take the initiative in making the right investment plan. The market is very volatile so long-term investment plans are needed at this time. The volatility that crypto has indeed makes the plan hard to implement. Emotions mostly will take control. Through experience we may able to reduce our emotion while meet the bad market conditions.
|
|
|
|
godfredmanu
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 266
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 10:03:43 PM |
|
The only strategy it work for me is to remove all speculations from my trading mind. When I sit to trade, I focus on what is before me and not what I want the market to be. With this in mid, I am able to make maximum profit or minimize risk, as early as possible.
|
|
|
|
Xising
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 10:07:24 PM |
|
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. Money and the idea of gaining or losing it does carry some emotion to it that is surely normal for any human or person to deal with. So, I think that the better word is not 'get rid' but control. When trading, one should keep his emotions in check to avoid getting too worked up with any one trade. Instead, one should see sny venture with an objective eye to help him decide what is the better plan of action is.
|
|
|
|
bbcolex
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 10:11:43 PM |
|
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?
Had to control myself on not watching the price now and then so that I won't be triggered to some circumstances that would lead me to wrong decision. I don't wanna see the current price and kept telling myself everything will be fine.
|
|
|
|
Vannie12
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 10:22:44 PM |
|
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. No one can take away emotions. And hell there is no trader that have not lost anything. Pro traders definitely got their skills by experience and I mean with losses too. The only thing you can do is prepare your self and gain any knowledge you can have to make a sound decision. If you fail once, it does not mean you can not try anymore. Trader always takes risks either they do this in years or newbies. The difference is that they already know how to adapt and newbies can suffer depressions at first fails.
|
|
|
|
XinXan
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2018, 11:06:41 PM |
|
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. Money and the idea of gaining or losing it does carry some emotion to it that is surely normal for any human or person to deal with. So, I think that the better word is not 'get rid' but control. When trading, one should keep his emotions in check to avoid getting too worked up with any one trade. Instead, one should see sny venture with an objective eye to help him decide what is the better plan of action is. Using an amount of money that you don't mind losing can help tremendously with emotions. Sticking to your trading strategy also pretty much gets rid of emotion as long as you are following 100% of the times, which you should, it's really the only way to make money.
|
|
|
|
|