How to get rid of emotions when trading

[Bubblestonemax]

Trading with emotions would warrant you to make a lot of nasty decisions that would hurt your investment account. You must remove emotions when trading in this market. This is a helpful article you posted.

[henlity87]

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

Setting a target and then focus on it is a difficult task but those who do it can avoid the unnecessary emotions and this way they will lose less because of wrong decisions by the emotions.

[Troubleshoot]

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?

Exercise, eating well, and yoga work best for me. Otherwise, your list looks quite exhaustive. Can't add anything

[bentong talong]

To get rid your emotions when trading, you need to convince yourself that everything is under control. Do not be anxious that bitcoin or other cryptocurrencies will be forever low.

[noah tall]

I think emotions are treated in trading and because it is a form of living things that are natural if we have emotions. I read what you wrote but I don't really understand which part you meant to get rid of emotion, because in my opinion the 4 things you wrote were not including emotion rid. Some article writers say fear and greed are things that are a failure in trading, but that depends on how your strategy applies, even though there are still some emotions that can lead you to got profits from trading.

Exactly that is what I told others that you will find every second in the crypto world as a benefited time you spend. It gives you experience, source of income and lots of profits so you have to stay in the Bitcoin due to these main benefits even in its low market you do not have to change your mind.
Some people get panic in low market that takes a lot of time to recover but their benefited strategy is to get rid of emotions and to focus on buying more coins. When we cannot do anything about down fall market then keeping our emotions tight alone we may do instead of panicking or going aggressive. Because these emotions always lead to bad decisions making.
 


[Hassan02]

To get rid your emotions when trading, you need to convince yourself that everything is under control. Do not be anxious that bitcoin or other cryptocurrencies will be forever low.

Of course this is what the most special thing that you to do for being as a person that are not to take emotional with some thing else that you have to be on , well it was hard to control at first but when you have to say that this could be then a better version of you is a must.

[ValerKat]

To get rids emotions when you are in trading industry is act professional only don’t mix your emotions or problems in this business because it can’t help you to be successful in this business.

Agree with you, only professionals can totally get rid of emotions while trading. In the most breathless moments I make myself coffee and have a small brake. But this doesn't always work.

[omali]

Every trader have experienced panicking, or sometimes taking on more risk, or even letting our emotion fluctuate with the markets.

And we sometimes blame our emotions, for a bad trade. Then we try to suppress them and distance ourselves from them. Which is impossible because we are human, and emotions are one of the key defining traits of being human.

But trading well is all about making better decisions. What we actually need is to make better decisions, which will ultimately lead to improved profits.

Rather than becoming a robot, if we approach our trading with the steps explained by author, we can make better decisions.

I will like to add; Just stay calm, know when to trade or walk away and you will be good.

[hardinero007]

being just an ordinary person, i usually fall victim to greedness.  there are plenty of times where i should cashout when i didn't, thinking that my investment portfolio will continue to be profitable.

another thing with me is the feeling of loyalness.  once i invested in a certain crypto project, i tend to stay in for better or worse.  it  makes me feel unfaithful to leave the project.  this attitude is very wrong.

i suggest that we take regular breaks from crypto world to enjoy the things around us better.  and coming from these breaks, we can be more focused and have positive mindset during decision-makings.

[iron talon]

being just an ordinary person, i usually fall victim to greedness.  there are plenty of times where i should cashout when i didn't, thinking that my investment portfolio will continue to be profitable.

another thing with me is the feeling of loyalness.  once i invested in a certain crypto project, i tend to stay in for better or worse.  it  makes me feel unfaithful to leave the project.  this attitude is very wrong.

i suggest that we take regular breaks from crypto world to enjoy the things around us better.  and coming from these breaks, we can be more focused and have positive mindset during decision-makings.

This is very hard honestly. You can get rid of emotions but when trading, it's really hard to get rid of them. We are human beings and we can't control our brain and mind 100% even if you really want it do so.

[Pattart]

To get rids emotions when you are in trading industry is act professional only don’t mix your emotions or problems in this business because it can’t help you to be successful in this business.

Yeah emotions in trading can hurt you because you won't use your clear mind to do research. all you have to do is calm down. a calm attitude can really help you to regulate your emotions so as not to get messed up. and patient, you need it to get a good chance  by wait it...

[bots1]

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

Your opinion is good, but sometimes people choose to trade by controlling the emotions of other traders. the key to trading is in your emotional, therefore emotional is used as a weapon of commerce for some people.
First, crypto trading is difficult to study technically. technical will be in accordance with the situation when there is a strategist makes many followers to follow the method of trading. so emotionally they become a trading team. then, who was sacrificed?
small traders and newcomers.
Second, the way to control the emotions of traders is to create issues and rumors. we know that 2014 is almost the same as in 2018, many control emotions through issues and rumors. so, the key is in the "buy rumors and sell the news".

[manggis97]

In trading we should be have maximum target profit in monthly and when that target reached just close open potition and withdraw the profit.  By this way we can avoid greedy that usually greedy only bring to big loss. And when the open potition not reached the target profit because the price side away, we should wait patiently for that and also use stop loss to avoid loss when the trend of market  change to bearish. Other way to control emotion is dont over trading.

[Madara_Uchiha]

You must be prepared for a variety of situations and emotions. Such readiness gives the possibility of control. Still no one managed to suppress emotions or completely get rid of them. Internal readiness for stressful situations allows you to monitor and manage your emotions.

[Ms.Anna]

It is important to focus on the long-term perspective. Most traders assess the results of their trading every month, while it is much more effective to do this at least once a quarter. If you sum up the daily results, you can simply go crazy with stress.

[thichtieuthuong]

You can not get rid of your emotions while doing something, like dealing. You will feel stressed if you do not have what you expect. It's better to have something you did not expect. And be wise and attentive when it comes to dealing, you will not be fooled easily. You will need a lot of skills and knowledge to shape, but emotions will always keep you anytime at any time with mistakes you will not normally do if you do not take the time to learn.

[Kimi80]

Sometimes we are more nervous, full of some negative energy and that reflects on our behavior. Whether we are waiting in the line in shop, find ourselves in a traffic jam, playing poker, trading... we will make decisions and react the way we feel at that moment. Tilt is the worst thing that could happen to anyone trading and it is very hard to avoid that whole scenario where you are losing and losing and repeating all in a loop.
Only thing that works for me is taking a break. I think that most important thing is to recognize the moment where you are not yourself and not even starting with trading because it is very difficult to stop when you are tilting. It just drive you around and you become aware of it when damage was already done. Recognize your energy and skip trading until you get calm.

[richcorner100]

Emotional like greedy and not patient is natural thing and this emotion hard to control it. Many trader who first jump in to trading has been loss alot money because this emotion, but should be from this case we can learn more how to manage that emotion to make better profit. When emotional still exist in trading activity, we will never get maximum profit and can be loss much money.

[farukahmed]

Trading is the best platform in the crypto market. The advantage of futures trading will depend on the market's upward and downward line. Future trading can be beneficial for many times. When you see that the current market conditions are not good and you are facing losses in this situation, you can keep futures trading, this will reduce your thinking and you will be more likely to benefit from the past. In that case, you have to have a lot of knowledge about futures trading. So be sure to look at the face of your investment gains. Currently futures trading are very popular that it is trading for futures trading a year ago and after one year the market will be lifted when trading is upwards. It is very beneficial for the traders.

[developer101dev]

Emotional like greedy and not patient is natural thing and this emotion hard to control it. Many trader who first jump in to trading has been loss alot money because this emotion, but should be from this case we can learn more how to manage that emotion to make better profit. When emotional still exist in trading activity, we will never get maximum profit and can be loss much money.

For people who are just newly starting in cryptocurrency, it was actually normal for them to sell their coins when the market prices are dropping because they are still trading base on their emotions.