How to get rid of emotions when trading

[blackandred]

people's emotional response to the rise and fall of bitcoin prices. this is a normal reaction. my strategy is: i don't rely on intuition, when trading. i believe in data analysis.

[1714844032]

1714844032

[1714844032]

1714844032

[GeniusAko]

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?

I have self control and it is the reason why I can easily handle my emotions. I can make better decision because I am aware that controlling emotion is important for me to avoid loss and make profit.

[Kahoy01]

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 should know yourself well, there are many traders who losses their money because they can't control their emotions that are causing panic. You should be knowledgeable person for you to avoid panicking.

[zack_young]

This is a very great article that everyone into business of trading like cryptocurrency should read. I have found this very helpful for my trading carrier. I had learned earlier this month not to trade impulsively but after giving all level of rational I pick my trade. No matter how well I had done my analysis before picking my trade, I still don't trade with an amount I can't lose. Bottom line is, never allow your emotions or greed enter you while trading. 

[gudrun]

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?
How are you dealing with your emotions? Anything to add or to take away from this?

Each person's emotions are different. I think that getting rid of emotion in every transaction is impossible. The best way is to forget about it and focus on a job other than the transaction

[gerald246kru]

Reduce the time spent watching the price of coins you keep, if you regularly watch them, you will worry and stress. So you will not be patient.

That is also a good way to control emotions. Do not open the trading floor every 5 minutes. If he trades on a daily candle, then check that price once a day and do not forget to put stoploss

[FalcoonRed]

one of them is proposing yourself to accept if you lose and never give up because you start trading with a loss. keep learning until you get used to it

[MiningDog]

You touch on a really important topic. When you rely only on your emotions, you tend to make poor decisions. Unfortunately, our emotions often lack logic. The key is to set rules. You need to decide in advance what to do. You may decide that you'll buy if ____ happens. Then you'll sell if ____ happens. You may get slightly lower gains then you could have theoretically gotten, but it'll keep your money safer.

[GawirZZ]

the way to get rid of emotions when trading is that you must still feel grateful even if you get a little profit, the right way to get rid of emotions is always grateful.

[Adrin]

If you want to be a professional cryptocurrency trader so it is very important to control your emotions because emotions are very sanative part of trading. I'm always trying to trading ten times in a day if I lose again and again that means ten times lose on that time I stop my trading and after one later I start my trading again.

[MMnoob]

it is one of my obstacles also in regulating emotions learning to get used slowly so that you don't have greediness.

[YYYtupil]

Don’t be attached to the money that you are putting in for the bitcoins.

[gudrun]

The most important thing for the investor is to have patience.  Many newcomers rush to make a profit and are mistaken on this.

The safety rings only be suitable with the field is currently in the restoring phase, the kien ring in the loss of the stage lossed the ro ro. Failed to wait to take it added the number of you have already in, do you should not be nhẫn and waiting when the price shrinking the weak, you should truncating

[bosimpson54]

Usually I am preparing myself to the process of trading, I listen to the calm and positive music, usually I am drinking green tea with mint. You can think that I am kidding but this is real, I'm trying to be as calm as it is possible.

Your plans are quite interesting. But in my opinion you are thinking in terms of getting out of the deal, you relax for the stress you are dealing with. In my opinion, looking at the price, doing the right things, considering the transaction is a serious job, that is the right choice

[sleekie]

the emotions will always be there when your money is involved, I think planning and working with a set target will go a long way

[Missterio]

This is gained with experience. Only people who can control their emotions achieve real success in trade.

[markdario112616]

Don’t be attached to the money that you are putting in for the bitcoins.

This is easy to say than done. Well if this money came from your hard work, extended overtime pays, and etc. This is hard not to be attached to it. We all know that trading requires a lot of courage since we are talking about money and risk. *Not unless the money that you are putting is not yours, or you are one hell of a millionaire*


Emotions are indeed a hindrance or an obstacle in this type of industry, Honestly you can't literally get rid of these emotions while trading, hence you can only limit it. It's impossible for a person to be emotionless in dealing such activities.

In my opinion and based from experience as well, I normally do this:
1. Preparing myself in every situations that might possible to happen - Having that said, before I started trading I did study the industry first and literally written down all the possible outcome whenever this happen and etc. In tagalog I call or we call it "Advance ako mag-isip" or advance thinking, well It's better to be cautious or extra careful than to be sorry.

2. Study the market (depends on what market you are trying to penetrate with) - This relates on the first one, After studying the industry, I now study the market I wanted to invest with. Knowing the pros and cons of it will give you an advantage.

3. Making strategies (Plan A-Z) - In relates to 1st and 2nd, whenever let's say you landed on the market you wanted to invest with. It's now the time to make the strategies, on how you will survive and earn from it. A personal advise, don't just settle for Plan A and B. Like what I've said be prepared for the possible things to happen, If I were you, I would literally set a Plan up to Z. *Better be prepared than to be sorry*

That's just some of the things I do, when I started trading. Emotions will always plays a big part in this industry. Just don't let it get in your way, prevent it or stop it by setting plans, organize every move, and feeding yourself the proper information and maximize every tool available.

[loverets45]

the way to get rid of emotions when trading is that you must still feel grateful even if you get a little profit, the right way to get rid of emotions is always grateful.

I think that is natural, I do not think that it is so easy to get rid or to control your emotion while you are trading, you can partially control your emotion if you have good experience in trading, for new comers I do not think that it is so easy to control their emotions.

[BitCoinTa|k]

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?

Nice list. But no.4 only applies to me

[FalcoonRed]

know the risk of losing and successful trading in crypto first, it will help you regulate emotions.