How to get rid of emotions when trading

[Uppound]

I can state that you can't free of your feelings while accomplishing something, much the same as exchanging. I can state that you ought to expect less with regards to wage, don't expect huge, you'll just feel pressure in the event that you haven't got what you anticipate. It's smarter to have something that you don't anticipate. And furthermore be shrewd and careful with regards to exchange, so you won't be tricked effortlessly.

[withlove99]

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 need to be hard at yourself at the time of selling because greed always takes over your mind.Patience and steady mind is the most important thing that is required for the trading.Taking wise decision at the time trading depends on how compose you are at that time.

Greed is the cause of failure
Discipline is the crux of the trading
To practise the psychology firmly when the trading is really difficult

[izza123]

The importance of emotions in trading you can only realize after trading on a real account. However, it is better to try the demo first, and do not immediately rush to sell your deposit.

[Catswold]

Trading in cryptocurrency is not a ‘get rich quick’ scheme. Some people have had tremendous success in this area, but they are the exceptions, not the rule. If you are considering trading and you don’t want to be taken for a ride, chewed-up and spat-out after a few short months, you need to approach it with a healthy amount of intrigue and passion. There is an inherent joy to be found in the journey; learning about the tech, growing with the projects and getting involved in new communities. Taking the steps outlined above is a great way to get yourself prepared. Ask questions, never stop learning and keep making those small but consecutive steps forward toward your goals.

[sulendra12]

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

Why would you do that? Demo account is shit like most of demo account is rigged I'd say because you will probably only get a good result when you trade it with demo account. Use live account is the only way to feel the experience and also it doesn't look good when you only do it with demo account and get nothing.

[criptouser]

one of the most important rule that must be observed is: to trade for those funds that you do not mind losing. In this case, you will avoid stress.

[Commotheon]

Before you deal in trading be sure that you must know how to trade to avoid excessive lost during trading even an expertise has lost their money.during trading time be calm and dont be panic if you loosing your investment

Keeping your emotions steady in investing is extremely important because it can directly affect your results. Feeling unsettled in financial investment is extremely dangerous so always keep your mind relaxed before undertaking a transaction or investment.

Trade can makes your emotional into panic.I really appreciate your thoughts and your ideas.We're human we can be broken but we learn from our mistake.

[avarnet]

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

but if the market goes down again do you want to make transactions continuously? to get rid of emotions in trading it must be able to control ourselves in order to avoid losses when trading because most traders at the loss cannot control the enormous emotions in themselves

[thuthanh]

In my opinion when i invest in the crypto market. We should be able to control ourselves when markets are down. Having entered the crypto market is facing asset loss situations. At this time we should be patient and wait for maturity. The loss of composure and confusion will lead to our stupid decision.

[sulendra12]

one of the most important rule that must be observed is: to trade for those funds that you do not mind losing. In this case, you will avoid stress.

Nah, even though you do that. There is still a chance you will get stress because you lost your money especially if it's a big number of money that you regret to spend into trading. I mean yeah emotional is a human thing that you can't remove from your body and it's really difficult to control your emotion when that thing happens.

[Akoldi_ibk]

What a great post on emotion management!

Something to add: Just being able to get rid of your emotions or have good emotional management when trading doesn't guarantee profits at all times. The market is still very volatile and things can go other way even in sound mind. How you manage your emotions after each trade irrespective of the outcome matters as well. I would love it if the poster can share something on emotion management after trading. Thanks

[kaineh]

Emotions are the most powerful thing in us. We can't control them, they control us. But they are relater with breath and body in general, this is the way we can do smth. When we breathing very deep and slow it affects our emotional state too

[Satuki]

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

[Visteryy]

In my opinion, it is not advisable to keep track of the price, as a continuous decrease in pennies will cause you to disperse your thoughts, thereby making incorrect market decisions.

[rhodelmabanal]

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

but if the market goes down again do you want to make transactions continuously? to get rid of emotions in trading it must be able to control ourselves in order to avoid losses when trading because most traders at the loss cannot control the enormous emotions in themselves

But if those traders will fail to manage emotions, I don't think they could get rid of it. Panic is the final resort of everything and in order to neutralize their fears, we must motivate ourselves for the visions that we wanted for bitcoin. As of now it started to gain proper momentum and the recovery of the market starts to battle the bull trap which has been attacked by bearish sellers.

[monster2]

Ofcourse i get some emotions when im entering in trading.Its hard to become a successful trader as now so many altcoins are dropping its price so my emotions not a good at all if I always see the potential of a coin has not enough value.

[redsun114]

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.

These are the tricks you learn in the business school but it does not mean that you cannot get rid of emotions crossing your way if you are not in the business school.

I think one should amplify ones understanding about the market and only then you would be able to strategically speculate the next phase of the market. Besides, exploring what options are you left with before selling your coins is the most important step to make when you are loosing value. In such situation, all you do is to hold your assets and let the market recover.

[Rooster101]

I think it better to control your emotion during trading than to get to get of it. Emotion will always be there and no one can detach from it. Learn to manage your emotions first before going to trade and learn also on disciplining yourself. Prepare your mind for any eventuality in your trading, accept whatever the result and learn from it. Every loss is a part of a learning process that will eventually make you wiser in your next trade.

[therwtonn]

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.

You can think that emotional people cannot make money not only from cryptocurrency but from any field of life. Emotions and business are two different things. Just as in court decisions, there is no effect of emotions on the verdict of the case. Keep your emotions aside when you trade in crypto, otherwise you will lose your investment due to emotional decisions.

[clarkgeneral86]

In my opinion when you trade, you must determine and lose. You have to practice with the familiar feeling when the market down and feel it. Acceptance may be lost but sometimes successful. Little see the fortune and forget a time after that rascal.