How to get rid of emotions when trading

[marine4u]

Emotion in investment has a huge impact on trading results because when the market fluctuates too much psychological instability will cause investors to be very affected. Emotional control is essential so investors should train themselves before they actually invest.

[Noa_Amable]

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?

trading crypto or trading forex/stocks/commodities is always quite a nervous thing for anybody.
still I follow certain rules when trading:
1. create a trading plan (number of deals, required profit)
2. follow this plan
3. do not overtrade
4. trade only those trading instruments which you understand and which are in your trading plan
5. ready to get losses and understand how much you can lose
6. leave trading for some time if you are stressed or under any other emotions which are not even related with trading

[entar pasar]

I think the best thing I've ever done to get rid of emotions while trading is just to keep thinking positively, because when I got a loss, I will still optimistic to get a profit even though I have to be patient

[Sanitough]

I think the best thing I've ever done to get rid of emotions while trading is just to keep thinking positively, because when I got a loss, I will still optimistic to get a profit even though I have to be patient

Trading is way better than gambling, if you loss on short term you can still have a chance to wait for long term, as long as you do not sell
lower than your purchase price, you will last in crypto. Stick with your strategy and learn to control your emotion, the whales will manipulate the price in order to cause panic but with proper understanding, we won't be affected at all.

[marketone]

If you cannot control your emotions while trading then you will be in loss. So always try to learn the market when it is going down and when the price is increasing. Otherwise, stay away from the market in order to control your emotions.

[putrii]

to be able to get rid of emotions when making a transaction you might be able to do it by listening to pop music which might make your mind relax and calm, don't panic easily so you don't get emotional when trading so you don't suffer a lot of losses.

[Cherylstar86]

If you cannot control your emotions while trading then you will be in loss. So always try to learn the market when it is going down and when the price is increasing. Otherwise, stay away from the market in order to control your emotions.

Most of the traders were loosing lots of money because of their emotions that tend to fail. If they're not acquiring good knowledge then they're prone to panic, and if that happens with them? Situation got worst and regrets will fall after wrong decisions takes place because of trading losses.

[Otsu]

If you cannot control your emotions while trading then you will be in loss. So always try to learn the market when it is going down and when the price is increasing. Otherwise, stay away from the market in order to control your emotions.

Most of the traders were loosing lots of money because of their emotions that tend to fail. If they're not acquiring good knowledge then they're prone to panic, and if that happens with them? Situation got worst and regrets will fall after wrong decisions takes place because of trading losses.

Yeah, you're right. So it's better to have a enough knowledge and accurate informations in doing crypto trading so that every move that we takes will always be base in our skills and understanding. Never take an action that is behind our knowledge because most of the common results will be not good.

[ningrumxxi]

we must always prioritize security in trading, for example we must not be too greedy to pursue profit that sometimes we forget the logic that is happening, trading slowly looking for a little profit because this patience can save us from the abyss of destruction that can destroy us unpredictably, in business crypto with a potential price that very quickly changes the accuracy and patience that will win us so as to keep emotions from controlling us.

[rhomzkie26]

Emotions is being right there always, we cannot skip it or disregard but we are humans and more powerful on this. You don't need to turn your intentions into other matters because it will not going to solve your problem with emotions when you are in trading instead adjust it slowly as you can.

You maybe right on that way dude, that we cannot skip it or disregard our emotions but we can manage and control our emotions honestly speaking. That's there is called " Self-discipline ". So this things is the good way unto it, we may not get rid of it but we can apply self control about it.

[promich21]

For me what have worked for me is just taking two simple steps,

1. I trade with money i can easily forget when i lost it

2. When trading I always think long term, which means I choose only good coins, so even when the price is going down, my mind is still fixed on the long term, plus i can easily forget the money

Great post and Idea !. I know Getting rid of emotional is the hard thing ever while doing trade. We have to handle and control it.

[centimentalking]

For me what have worked for me is just taking two simple steps,

1. I trade with money i can easily forget when i lost it

2. When trading I always think long term, which means I choose only good coins, so even when the price is going down, my mind is still fixed on the long term, plus i can easily forget the money

Better to hold your bitcoin because trading is bit risky and can change your mood. Always invest in right coins with right strategy.

[KenChanYu]

Emotions is being right there always, we cannot skip it or disregard but we are humans and more powerful on this. You don't need to turn your intentions into other matters because it will not going to solve your problem with emotions when you are in trading instead adjust it slowly as you can.

You maybe right on that way dude, that we cannot skip it or disregard our emotions but we can manage and control our emotions honestly speaking. That's there is called " Self-discipline ". So this things is the good way unto it, we may not get rid of it but we can apply self control about it.

  Absolutely mate, self-discipline is a great feature to restrain the emotions that has built a nonpossesions deliberance and it will be a relief using the good aspect and optimize behavior. The ulitimate hindrances will depend on you if you listen some inaccurate FUD spliiting in this forum. And only you can manage the feelings and contour it as possible. But if you can not take this inconvenience matter, then it is your big losses. As soon as possible adjust your emotions while you have'nt make mistakes.

[rudox]

The best way to get rid of emotion is to set a trading plan from day one of your trading life and make sure you  stick to it no matter the situation of every day. What are the integral parts of trading plan?  You must first and foremost decides how much you want to take as profit per your trading day. Also how much will you lose  if the trade goes against you. You will set your take profit (TP) according to your plan. Set your stop loss (SL)  Decide how many trades you will enter per day and never revenge trade once the day's trading is against you. Just follow your plan. Emotion will be far from you.

[bangkit tri]

The best way to get rid of emotion is to set a trading plan from day one of your trading life and make sure you  stick to it no matter the situation of every day. What are the integral parts of trading plan?  You must first and foremost decides how much you want to take as profit per your trading day. Also how much will you lose  if the trade goes against you. You will set your take profit (TP) according to your plan. Set your stop loss (SL)  Decide how many trades you will enter per day and never revenge trade once the day's trading is against you. Just follow your plan. Emotion will be far from you.

for beginners, i think have to keep learning to be like that. but in my opinion long-term trading is the answer to controlling emotions, with us not often seeing charts, we will be calm without panic with price fluctuations

[Kira_lapa]

Do not start trading by being in debt and credit. The mistake of many novice traders is the fact that they want to earn quickly and a lot, pay off their debts and loans, but alas. As practice shows, this desire ends with the sale of the deposit, because the person begins to violate the rules of mani management (unjustified risks). Emotions will play against you.

[quandong]

Life is full of trials, disappointments and losses. Life is full of adventure, happiness, comfort and wonder. We can all choose how we handle the challenges and losses. We can make the changes we seek.

[Andrey13101991]

Do not start trading on a live account until you test your knowledge on the demo version (at least one month).

[canej]

Having opened the position and having placed a protective stop-order and the level of take-profit, close the terminal and deal with your affairs. To get rid of emotions in trading it is possible, if you just do not expose yourself to their influence. There is no point in sitting and looking at price fluctuations. You can look at the situation, but do it periodically, and not every five minutes.

[LeetPoolsOP]

Whatever emotional factor has been minimized, you need experience of trading. The more transactions you make, the more stable your emotional state will be.