laravuemaster
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When Football meets Crypto
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July 28, 2018, 10:03:00 AM |
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In order to be optimistic and objective you need to focus more on your preparation and selfishness, you can prepare the content of the transaction and do not let anything beat yours not stress
Emotions are necessary to feel every time you are trading because it always good to have a doubt but the best thing to do is always study about the market situation before doing some drastic decisions.
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jerowacik
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July 28, 2018, 03:13:41 PM |
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Best way to get rid of emotions lies in the planning process of trading in advance as much as possible before entering them and each time put the type traded briefly why you put it
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acener
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★Bitvest.io★ Play Plinko or Invest!
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July 28, 2018, 04:23:44 PM |
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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?
Getting too emotional in trading might affect your way of decision making. It is better that you know how to handle or control your emotions because if we'll depend our emotions on the changes in the market, it would be too risky. Let's just be hopeful about the market.
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BestSSS
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July 28, 2018, 05:29:50 PM |
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The condition of each person during trading is difficult to describe and even more difficult to understand. Each of them is individual and in the same situation 2 different people will act quite differently - it is the law. In addition, emotions are affected by the amount of capital which is controlled by a person if 100 dollars he is ready to lose that amount of 1000 dollars no one wants to lose and in the same situation managing different amounts even one person will act differently. This process is difficult to control but you need to learn to manage your emotions because it affects the strategy of your trade.
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tesla80
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Full Stack Engineer
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July 28, 2018, 10:00:53 PM |
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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.
Usually I'm trying to get out of my personal computer going into park or something like that might be on the roof, because I need to spend some time with myself trying to keep calm and passive. Well you are providing basic and practical solution to this problem. This thread has been covering up since long time but very few times people talk about solution. They always talk on it and then it goes under a big mountain of misunderstanding. So yeah whenever there is a loss, you must go into parks and hilly stations to make your mind clear and fresh. Good luck to you. This thread contains good advices for everyone who are excited to sit on their computer and watch what is happening all the time.
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Cyber Security, Mobile Security, Web/Desktop/Embedded Programming, Electronics, M2M, IoT
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Firefox07
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July 28, 2018, 10:23:09 PM |
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I think we need to tighten our mind and feelings when trading. Don't let our emotions dictate what we will do. And don't easily go with the flow in the market.
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nelson4lov
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July 28, 2018, 10:27:51 PM |
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You simply can't get rid of those emotions. That's the honest truth. Emotions are part of who we are abd you simply can't do a keep it away. The only thing you can do is to manage the disappointment you would feel. Naturally, you're bound to have feelings. However, to minimise the feelings, you should do well not to become too attached or sentimental about a particular Cryptocurrency.
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feelingfroggy
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July 28, 2018, 10:31:00 PM |
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You need to control and harness your emotions nor get rid of them. Getting rid of your emotions is not only impossible its probably dangerous. I think the more experience you gain from trading will help greatly on the emotional issues that one faces while trading.
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lunaelucemauram
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July 28, 2018, 10:40:21 PM |
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Also having an expectation that either you will lose your capital or make more from it, doing calculated risk is also a part of getting your emotions in check while trading. Studing the market and getting to know how to analyze it to see the possible downtrend and uptrend can be the defining factor for you and learning the market movement is a necessity for a trader.
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XinXan
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July 28, 2018, 10:52:09 PM |
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You simply can't get rid of those emotions. That's the honest truth. Emotions are part of who we are abd you simply can't do a keep it away. The only thing you can do is to manage the disappointment you would feel. Naturally, you're bound to have feelings. However, to minimise the feelings, you should do well not to become too attached or sentimental about a particular Cryptocurrency.
You can and the best way to do it is by developing a winning strategy that works for you. Once you have a strategy, the only thing you have to do is follow it, always, every single trade you make has to be made using your strategy, after a while this will basically allow you to get rid of emotions. Eventually when you make more money than you lose, following your strategy is going to be much easier.
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Hanazawa
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July 28, 2018, 11:12:50 PM |
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In trading you can't deny that losses is always attached in any circumstances when you are in crypto world. The one thing to do when your emotions are telling you just need to focus on what your decision makes. Don't hesitate if you're feel uncomfortable and unwanted with your decision, trading is risky when you don't have enough knowledge on the other hand trading is only for a person who have a higher intelligence not emotional.
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2@abcdeeply
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July 29, 2018, 02:14:13 AM |
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In my opinion, forget about the price at the present time and reduce the number of checks on the price of the penny you hold, which will make you more anxious and I know that waiting for a long time will bring in income. high for you
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cryptodigitz
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July 29, 2018, 03:04:08 AM |
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It is a well known fact that good decisions are not made with intense emotions because emotions cloud the brain and prevent it good judgment trading is not different either, we need to avoid being emotional while focusing on good judgment in our trades
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Winto
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July 29, 2018, 08:06:17 PM |
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One simple but very effective thing you can do before you pull the trigger is think about the reasons why you want to do this trade and whether is inline with your principles (assuming you have some). It's like when you're addicted to shopping...best thing you can do before buying another pair of shoes is ask yourself: Do you really need those? If you let yourself doing impulsive decisions - you'll be broke in no time
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Yamifoud
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July 29, 2018, 09:28:11 PM |
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I think we need to tighten our mind and feelings when trading. Don't let our emotions dictate what we will do. And don't easily go with the flow in the market.
That is very challenging especially when you never knew how market works and still have doubts on crypto. We knew people will easily get loss their mind when market goes down and do panic selling. I've never think it would be stop since we have different in views and u. understanding.
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tuljan
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July 29, 2018, 11:35:50 PM |
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I think we need to tighten our mind and feelings when trading. Don't let our emotions dictate what we will do. And don't easily go with the flow in the market.
That is very challenging especially when you never knew how market works and still have doubts on crypto. We knew people will easily get loss their mind when market goes down and do panic selling. I've never think it would be stop since we have different in views and u. understanding. You can't do anything about it if you're that kind of person. Crypto is for iron willed people.
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chichigirl
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HELENA
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July 29, 2018, 11:57:43 PM |
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Do not put your emotions in trading specially during those times when the market is not doing well. For how many months we are holding our coins just to keep the investment and not to get any loss. Keep in mind that in trading there is always a best time for buying, holding and selling.
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yohan09
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July 30, 2018, 12:58:30 AM |
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I do agree with the points you are making, but still it is hard to deal with emotions when trading, honestly you have chill more, and not risk everything.
Consistently successful traders understand that emotions are a potential hurdle to overcome, rather than an insurmountable obstacle, They're aware of their emotions by continually asking themselves what is making them want to start or stop an action. If they can't reasonably justify their trading decisions, Then their emotions may be in charge, not in logic.
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Coin-1
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July 30, 2018, 02:42:50 AM |
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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. Honestly, I can't imagine how some trader can tilt or insult other traders. Usually he/she sits on his chair or sofa and trades a crypto currencies using his laptop, tablet, phone, etc. I guess that you say about the creating a FUD threads on the special forums or about the scolding in a chat of some exchange. Yes, some traders use this tactics but I think it is not fair. How are you dealing with your emotions?
I personally try to follow my trading strategy. I get an experience on the crypto exchange markets day by day. But if I make a mistake, I become distressed, so I can't to fully get rid of emotions when trading.
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helenmitchell44
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July 30, 2018, 02:53:27 AM |
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You've gotta suck up your emotions in the business world. You don't get rich by crying and sobbing. You get rich by working really hard. But if you are stressed then do something to relief stress. Don't just sit on a couch and make yourself feel bad by thinking about all the mistakes you've made. Personally for me, I workout to get rid of stress. You need to have a clear mind to make better decisions which will get you better results and better results mean better emotional condition.
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