How to get rid of emotions when trading

[jmaresca]

The more experienced a person becomes at trading the least likely their emotions will get in the way. It’s natural for a newbie or even an intermediate trader to get emotional. The more experienced a trader becomes the more confidence they have in their trades, the more they learn how to off set losses, the better they are at reading charts and know how to hedge their trades but even more importantly they become use to any losses because they know trading is a game of ups and downs, wins and losses.

[hisuka]

Reality checks, being emotions is always happening in everything we do in our trading. We cannot get rid of burst emotions but we have to control it and focus on our goal to take profit from crypto trading.

[cryptokitty]

As you go on with the trading,  you will experience a lot of mistakes and will learn to keep your emotions whenever the price keeps falling. We will be able to learn how to keep our feelings and wait for the marker recovery.

[mr_enoc]

Do not check your investment while the market is getting lower each day. For you will be feeling down and too emotional because of the losses that you will be able to see.

[SkvorNyc777]

I guess that it is impossible to rid out of emotions "completely", but experience and knowledge training can give here a great result, best traders are calm in the deciding points.

[tuljan]

Do not check your investment while the market is getting lower each day. For you will be feeling down and too emotional because of the losses that you will be able to see.

When that happens I only remind myself that this is just temporary and that I should look at the bigger picture. It helps a lot.

[gilad215]

The best way is to trade with the money you can afford to lose. If you are trading so that you can pay for your bills, then it is tough to take out emotions out of trading. Only play with the amount which if lost won't make a difference in your life. People who are full time traders are professional enough to keep emotions out of their work. But part time traders usually for FOMO and panics.

[Davinus]

I don’t know any trader who doesn’t struggle at times with their emotions. Likewise, I don’t know any trader who doesn’t wish that they could control their emotions better. What if you stopped holding on, resisting, and fighting the emotion? What if you welcomed it instead? I can tell you from extensive experience that this can be one of the most powerful practices you can undertake. Welcoming the emotion is the equivalent of letting go of the kid’s wrist. You’re no longer holding on for dear life and resisting so much. For instance, if you feel anxiety and panic when entering a trade or when trying to hold for a large profit exit, instead of fighting that feeling and trying to control it, try welcoming and letting the anxiety and panic be there while you sit in a place of still awareness.

[Rodeo02]

The best way is to trade with the money you can afford to lose. If you are trading so that you can pay for your bills, then it is tough to take out emotions out of trading. Only play with the amount which if lost won't make a difference in your life. People who are full time traders are professional enough to keep emotions out of their work. But part time traders usually for FOMO and panics.

and not set aside also that you cant have the chance to make it back the money that you have been lose for cause there is always a possibility that you can make it again back as long as you believe for your self that you can do anything.

[minairia3]

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?

Good read. I wonder what are your references for those. I like the "focus on the process and not on the outcome" one. Even if you win $100k, it doesn't matter to you that much as you see it as numbers in the actual trading. But you find joy and savor it if you think of the system and the way you get those. Those are the things that you should rejoice about.

[george888055]

There are some powerful emotions that mess with trader head, like greed, exuberance, fear and the fear of missing out. And the only way to get rid of them is to have a solid trading plan, excellent discipline and years of experience.

[natka]

There are some powerful emotions that mess with trader head, like greed, exuberance, fear and the fear of missing out. And the only way to get rid of them is to have a solid trading plan, excellent discipline and years of experience.

many people still recently could not suspect about such opportunities of earnings, which gives them a crypto currency. Therefore, many people are attacking this activity and from the side it seems that everything is very stupid. But I will not think so, Because I know the problem from the inside. most of the world's population lives below the poverty line. And today's life is very expensive.

[apimembership]

It is not possible to get rid of all emotions, you just need to listen your mind than your emotions. like if you emotions ambitious to earn sth, dont listen to it and try to be reasonable and trade whenever it makes you think it is reasonable.

[tesla80]

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?

You need to be hard at yourself at the time of selling because greed always takes over your mind.Patience and steady mind is the most important thing that is required for the trading.Taking wise decision at the time trading depends on how compose you are at that time.

Greed is important emotion to be stopped in right time. The main reason of loss is greed.

[marsmyname]

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.

You are not a robot and you can not control your emotions, in my opinion the best way is after buying your pennies, you should relax by playing games, hangout with your friends and don't forgot stoploss for your coin

While being there in the world of the trading, keeping a good control over your emotions is something which is nearly impossible to achieve and that the ones who manage to do so end up making a huge amount of money which then helps them in becoming the richest persons in the world. All you need to do is to practice this thing in order to master yourself in a way which can help you in staying stronger.

[Blackpanther399]

Emotions are always part of humanity especially when it involves personal funds. Trading requires one to make certain decisions and emotions are also one of the things a professional trader needs to put in place as well.  This article was helpful and I appreciate it.

[joulion86]

Good read. I wonder what are your references for those. I like the "focus on the process and not on the outcome" one. Even if you win $100k, it doesn't matter to you that much as you see it as numbers in the actual trading. But you find joy and savor it if you think of the system and the way you get those. Those are the things that you should rejoice about.

Very good point and something I haven't done enough, posting my sources. In this case, most information came from 2 articles I read with some things thrown in from myself as I trade sometimes but I am really not particular good at it. But what I notices is that I lose way more then I would need because I get emotionally attached to trades, and do really stupid mistakes that would be easy to avoid if I just kept to a few basic rules. That's why I collected info on the topic and posted in for everyone else.

[Maxpips]

You can't get rid of your emotions when trading, it's impossible.

If you're getting too emotional about trading and keep making emotional mistakes, like closing a trade too early, placing trades out of anger, not setting a stop loss etc, you need to lower the amount of Crypto you're buying.

Your emotional state is tied to the amount of money you have at risk.

The more that's at risk, the more emotional you're going to be about losing it, and the more likely you are to make mistakes.

Think about it like this.....

If you had 1 million USD and had invested $2000 in Crypto, would you care about losing the $2000?

No, right, because $2000 is basically nothing when you have a 1 million.

But what if you only had 2000 and had put 1000 into Crypto, would you care then?

Of course you would, because if you lose the 1000 a significant portion of your money would be gone.

So the key to lowering the effect emotions have on your trading is to buy less Crypto.

[FalcoonRed]

it is something that is difficult to control, most people fail to trade for failing to control emotions, may have to be a lot of patience.

[tuljan]

Greed is important emotion to be stopped in right time. The main reason of loss is greed.

Well my friend I agree with you but if it was that easy nobody would lose money.