How to get rid of emotions when trading

[helenmitchell44]

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.

[Manyak]

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?

Well you cant rid your emotionally that fast . first your emotion will be exaggerating and nervous but for me just calm yourself when you trade . you can inheal and exheal .

[5DChessMoves]

Good plan... I think the best thing one  can do is to trade with a small amount of money and think of it as a gamble (5% or less) of your worth. The bigger the risk, the more attachment you have to the decision which definitely involves your emotions.

[yndye]

Good plan... I think the best thing one  can do is to trade with a small amount of money and think of it as a gamble (5% or less) of your worth. The bigger the risk, the more attachment you have to the decision which definitely involves your emotions.

If you start with small amount and you would be able to get used to trading then you would be able to get rid of your emotions eventually. Of course at first when you are just starting then you wouldn't be able to immediately get rid of it but then as time goes by, no matter how much your capital is and as long as you have a trading plan and focus on it then you would be able to trade rationally. If you know when to buy and when to sell then your emotions will not count as long as you are firm with your decision.

[coinfinger]

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.

There is no such way using which you can get rid of emotions and that they are part of your life and they have a strong influence over your personality. All you can do is to teach the techniques which can then help you in staying patient even if things are not going the way you want them to be and that you must deal with the situation calmly so that you may not make any such decision which can result in loss of money.

[Hallmader]

It is hard to curb emotional responses when trading. But we need to stick to the plans no matter what. Even now, I am still struggling to control my emotions whenever hard pumps and dumps are happening. That is the time I am starting to lose my patience. But I always tell myself to remember the days when failures happened simply because of a very strong emotional urge to stray from the earlier plan, mostly out of greed or panic.

[bastian466]

humans do have a high emotion. greed that makes emotions high when the seller at the price point but in the near future the price continues to rise it will also emerge emotional remorse

[capoeira]

at the end only expirience will teach that.
the key is to always analize yourself.
in Poker they have the term "tilting". everytime you cach yourself tilted you have to take a deap breath and analize why this happned

[connexus]

We really cannot get rid of emotions it is already part of every trading. We should learn how to accept the risks that we are going to face and keep in mind that the crypto market is volatile that anything can happen it can result as well to big losses.

[capoeira]

one mentality I find very usefull:
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future

[icecream sandwich]

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?

We truly can't dispose of feelings it is as of now part of each exchanging. We ought to figure out how to acknowledge the dangers that we will face and remember that the crypto showcase is unstable that anything can happen it can come about also to huge misfortunes.

[btcrich2020]

Trading profits are completely based on patience because if you buy a coin at a high value and then suddenly the price drops lower, at this condition it will test your patience because we cannot able to sell them for cheap and the best option is to hold the coin until the price starts increasing again.

[Herressy]

one mentality I find very usefull:
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future

most of it you will be learn by your own experience that you may ever have to encounter with. You may know that when you are out of your emotions yet and you follow what your emotion you have to do some are may result of loses so being the way that you know how are you may control this based on your experience you can be able to control it for.

[capoeira]

one mentality I find very usefull:
When you lose money you actualy invested in the future. you payed for a lesson. this expirience will make you money in the future

most of it you will be learn by your own experience that you may ever have to encounter with. You may know that when you are out of your emotions yet and you follow what your emotion you have to do some are may result of loses so being the way that you know how are you may control this based on your experience you can be able to control it for.

yep. control is everyting. never get into a trance like trading state

[VBCryp@]

Try to forget, do not worry too much about the current market, maybe they will make you stress. If you do not try to forget them, or can play the sport to reduce stress.

[MMnoob]

stifling emotion when trading is difficult for beginners because trading in crpto you must be able to manage the emotions and the key to successful trading in crypto is patient.

[george888055]

You must be prepared for a variety of emotions so that you can monitor them, instead of letting them control you. And keep in mind you are your biggest enemy because of your emotions.

[Gufeng]

There are many possible ways to do that but I can say that you cannot fully get rid of emotions because you're not a robot. The only 100% way is to write a bot, lol. He would trade instead of you without any emotions.

[loveinberlin]

I think you should do your best to avoid negative emotions because it is very important for a successful trader and you should do your best not to feel negative emotions in order to reach your goal

[Sengoko]

In my opinion, I have been reading articles about discipline and how to control your emotions when trading. From experience, the best way to get rid of your emotions when trading is to have a strict and effective trading strategy and you have to be disciplined about it to the core. This is one of the ways to detach emotions from trading

Every traders will always felt something when the market prices are dropping so there's no way for people to get rid of emotions because it was necessary to felt it, the best thing to do is just hold your coins to avoid losing your investments.

Well I do not think that should be the mind set of a real and true businessman to get detracted by his emotions and loose money in the crypto market by making a foolish decision. Such people cannot earn for sure. One has to have a business mind setup and make rational decision to earn and keep rising in crypto. People with a weak heart and imperfect knowledge should rather stay away from crypto.