How to get rid of emotions when trading

[supergorg27]

When you go in trading you should ready with your emotions and ready to take the risk whether you win or lose, do not invest all your funds, have safety for yourself.

[MMnoob]

one way to get rid of emotions when trading is you must know the risks of trading it can be a loss so when you experience it you will not emotion. and most importantly you should be able to prevent losses to avoid emotion, patience is the key to success.

[entrepmind23]

That is a common problem in here, having newbies who don't know much about cryptos. Some of they think that earning cryptos is literally easy that is why when dump happens, they are the ones who get terrified the most. For me, we can't get rid of the emotions that we get when we are doing trading but we can learn how to control it. When one is planning to do trading, he must keep in mind that emotions play a big role in making decisions. We will use analysis and of course experience when we trade but our emotions can get kind of mixed up.

We are all noobs at the beginning but there are people who get past that and excel in it while others who quit very early and stayed being noobs. Being emotionless can only be done when you are doing something over and over again that you will reach a point when you are already familiar with the situation so you are not affected by any circumstances. You can get done what you are suppose to do because you already have a plan whatever happens whether the price go up or down. In short, you just need a lot of experience to be able to control your emotions.

[ericaltm]

Seems like some people are acting like they know everything about trading. If you truly want to remove emotions you MUST do the following.

1. Setup and entry plan -> Let's say we want to get 1BTC for $5000, then we will wait until it is that price, or we can say that we just buy 1BTC at the current market price (whatever that might be at that time)
2. How much do you want to gain? Since this is an example let's assume we want to get 10%, and taking back the example that we buy 1BTC for $5000, we would calculate that we will hit a 10% gain at $5500.
3. CASH OUT THAT $5500 no matter what. This was your plan since step 1, so why not stick to the plan.

See here that I never mentioned I want $500, or I think Bitcoin will go up or down.

It is simple, just enter and exit when you have realized the gain that you wanted. (Same way goes for if the price goes lower after you buy, set up a max% that you want to lose or just HODL. However, investing is always a risk you are taking, so never invest money you cannot lose.)
This is just my strategy and has been working

Hope it helps others

[shimbark123]

It's really hard to get rid of these things in trading. I, was once a victim of my own emotions in trading. It's so hard to fight back against it. But try to step by step lessen those things. That should help it.

[newwest]

You should use the free funds to trade, do not bring all your assets into the transaction, so when the market drops as you are now worry and do not master yourself.

Their is no free funds available because somewhere somebody has earned t either through investment or it is inherited by someone. Only thing is that extra amount which you can afford to loose you should us in trading and keep it in mind that you may loose everything and you are still ok with this right from the start.

[medussa]

one has to practice emotional detachment when trading so as not to make grievous mistakes.

[Rufsilf]

You cannot get rid your emotions when trading because emotion is already there for a long time and the only thing that you can do in order to minimize the dominance of emotion is to have a self-discipline and also to have a strong plan or strategy that you can follow in order to trade very well and have a lot of successful trades.

[sheryl26]

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.

That is true we cannot take away the fact of being emotional because that is one thing that makes us human we have emotions but of course over reacting into something is not a normal thing so it is a matter of self discipline because maybe in your childhood days you've been raised like that and now you are adapting that attitude into your work then I am saying that act like a man or be matured because minding the business problem for so long is for kids. Mind for a solution to the problem much longer dude.

[Gheka]

You cannot get rid your emotions when trading because emotion is already there for a long time and the only thing that you can do in order to minimize the dominance of emotion is to have a self-discipline and also to have a strong plan or strategy that you can follow in order to trade very well and have a lot of successful trades.

Yeah, we are not robots, emotions that affect the trading process are one thing we can not avoid, everybody always has weaknesses and fears in trading, eliminating completely is impossible, and as you say, what we can do is to limit bad emotions through a number of methods. But better, I think traders should consider emotion as a friend of ours, we should get used to it and understand it more clearly, and when we do that, we will feel that every situation in trading is normal, although emotion will still exist and appear when such situations occur but we will stabilize very quickly, instead of embarrassment or panic

[emberbekas]

Doing other activities is a way that I think is effective enough to remove the stresses caused by our trading activities which usually take a while. Playing games, listening to music etc can refresh our minds from the saturation that exists. So when we return to trading activity, hopefully, we can control our emotions.

[bncbnc]

It's really hard to get rid of these things in trading. I, was once a victim of my own emotions in trading. It's so hard to fight back against it. But try to step by step lessen those things. That should help it.

Yes it is difficult to get red from emotional attitude, if it is your habit and if emotions are there in your nature, i think if a person get some experience in market and spend a lot of time in the market then we can expect that he can get control on his emotion a little bit, but still i am not too much sure about it, because it is natural and very hard to get control over it.

[PhucS]

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?

Emotional control in trade, this is a problem many traders are interested because it has caused a lot of difficulties in the trade.  Thank you for the hints, I feel it is quite convincing. However, to succeed is not easy, especially for the newbie. Theory is one thing, but practice is another, I have tried many ways but sometimes I still feel emotionally determined. In order to solve this problem, I think we need to train regularly for a long time. This is just my opinion

[Brunus]

The real problem are not emotions (you can manage them somehow), but the fact that sometimes they push us to take bad decisions.
So, the only secret is to plan a strategy with a lot of "if-then", and then respect it religiously.
Easy to say...

[Kupid002]

You cannot get rid your emotions when trading because emotion is already there for a long time and the only thing that you can do in order to minimize the dominance of emotion is to have a self-discipline and also to have a strong plan or strategy that you can follow in order to trade very well and have a lot of successful trades.

Yeah, we are not robots, emotions that affect the trading process are one thing we can not avoid, everybody always has weaknesses and fears in trading, eliminating completely is impossible, and as you say, what we can do is to limit bad emotions through a number of methods. But better, I think traders should consider emotion as a friend of ours, we should get used to it and understand it more clearly, and when we do that, we will feel that every situation in trading is normal, although emotion will still exist and appear when such situations occur but we will stabilize very quickly, instead of embarra
ssment or panic

true there is some other time that you can actually feel to be empty because of your emotions and you might think more about how this can be avoided you that nothing ever can be made for to be done cause you think that this could be the end of everything well as a person you must have to think your own strategy how you can avoid that.

[maximilian4aue]

This is very useful. My friend backed out of Crypto just at first attempt. Well, trading isn't for everyone however any business man should understand how to manage his emotions in time of loss, he or she should understand that it does happens and in gain, he shouldn't be carried away in fantasy.

This is purely psychological. Emotional control applies not just in trading but to every aspect of life.
A student who fails an examination and is not able to control his emotions, work harder and take on the course again is likely to fail again because emotions promotes fear.

[kidamazo]

About that you can read in my new book it is called "Now way", lol. I think this is literally impossible because we all are humans, we cannot get rid of emotions completely.

[totholio]

I think it just requires experience, sadly a lot of people learnt how to hodl exactly before the crash, hopefully the market will turn again.

[Qunetick]

It's really hard to get rid of these things in trading. I, was once a victim of my own emotions in trading. It's so hard to fight back against it. But try to step by step lessen those things. That should help it.

Being emotional as one gets involved in trading is normal. But allowing such emotion to take over the decision-making is destructive. Hence, one has to think wisely to minimize getting too emotional negatively. Experience and learning in trade have a huge role on this.

[XinXan]

At the end of the day no one is going to get rid of emotions entirely. Its mostly about controlling them. Best way is to have a strategy and follow it.