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Author Topic: Being a good trader must be able to maintain emotions  (Read 119 times)
akihikohideaki
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February 03, 2019, 02:03:02 PM
 #1


Being a trader is not easy. Many people want to become successful traders, but forget that being a successful trader requires a process and several steps that must be passed by a trader, and also not only focusing on which indicators are used, but also managing emotions and thinking discipline. Therefore, to overcome this, the law of learning to map emotions is mandatory.

Important to remember, the success of a trader is not only determined by how the trading strategy does, but also determined by its ability to control emotions when trading and when we have an understanding that the discipline of the trading system must be applied, then we no longer need to worry or panic if prices move beyond initial expectations.

The fact of a trader's success cannot be separated from discipline and mindset, so don't let yourself be affected by emotions for a moment when making a decision.

Here are tips for maintaining emotions when trading :
-   When you see price fluctuations, don't panic and follow the market mindset that can actually be predicted. Try using an analysis of your ability one step ahead of other market participants
-   Don't rush into the market, take a little time to analyze market rumors before making a trade transaction. This is to find out the clarity of the direction of the market waiting for more confidence and calm.
-   Don't force yourself to participate in transactions, if you are unsure about the direction of market movements. It's better to wait or move to transact from the wrong position and psychology is approved.
-   Try to build a winning psychology, Create a daily target, Close the position if targeted. This is to build a winning psychology, not a loser.
-   Always in situations as calm as possible when entering the market. Humans are blessed with 3 virtues given by the highest creator, namely, the mind to think, the heart to pray, and time. For this reason, use these three gifts from God as best you can.
-   Accept sincerely when you accept defeat and don't get discouraged


Conclusion
When going to the trading market besides using technical analysis, fundamentals and sentiment analysis the psychological aspects of trading are very important because this supports the success of a trader. To achieve this we must be disciplined in thinking and able to express emotions, so that we will walk straight in success.

Please give your tips on how to maintain emotions when entering the trading market.

Thank you, hope it's useful




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February 03, 2019, 02:11:25 PM
 #2

Controlling emotions in trading is important but also not easy you have made some great points but to add to it.
This issue of emotions in trading has been discussed here
https://bitcointalk.org/index.php?topic=4459858.0

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February 03, 2019, 02:46:09 PM
 #3


Thank you for the information,
before I wrote this, I actually checked the list of posts, but I apologize because I'm not careful.

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February 03, 2019, 03:11:11 PM
 #4

<...>

Please avoid using preformatted text when putting up points in such posts. It will make readers uninterested in reading your text as one has to scroll from left to right just to read a single line on top of scrolling up and down.
This would be better
Quote
-   When you see price fluctuations, don't panic and follow the market mindset that can actually be predicted. Try using an analysis of your ability one step ahead of other market participants
-   Don't rush into the market, take a little time to analyze market rumors before making a trade transaction. This is to find out the clarity of the direction of the market waiting for more confidence and calm.
-   Don't force yourself to participate in transactions, if you are unsure about the direction of market movements. It's better to wait or move to transact from the wrong position and psychology is approved.
-   Try to build a winning psychology, Create a daily target, Close the position if targeted. This is to build a winning psychology, not a loser.
-   Always in situations as calm as possible when entering the market. Humans are blessed with 3 virtues given by the highest creator, namely, the mind to think, the heart to pray, and time. For this reason, use these three gifts from God as best you can.
-   Accept sincerely when you accept defeat and don't get discouraged

That said, the points you put across are really great, I would love to add the more important thing that usually causes a lot of unnecessary stress which can lead to trading with emotions.

It's trying to trade with money that you cannot afford to lose. This is usually very dangerous and can always keep the trader very anxious and depressed.
Always trade with what you can afford to lose. In the event things do not turn out as expected, you won't have to make silly and panicky decisions so as to try and recover what you have lost in the shortest time.

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February 03, 2019, 03:36:50 PM
 #5

This is why people are using bots and algorithms to do automated trading.  Most humans lack the patience and emotional detachment that is necessary to make consistent profits.

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February 03, 2019, 05:34:40 PM
 #6

Not only trading, you need to control emotions on every job to be successful. You cannot be surgeon and emotional during operation. Even emotion need to be controlled in bringing up the child.
Most of the people jump in trading without any research or study that's why they are fooled by emotions.

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February 04, 2019, 06:44:56 AM
 #7

I agree with the OP on this. A sound emotional check is very vital to surf the cryptocurrency world.
The market can be really unpredictable and sometimes frustrating and if you have a poor emotions you can fall victim of panic moves

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February 04, 2019, 11:18:48 AM
 #8

Most of the people jump in trading without any research or study that's why they are fooled by emotions.

Currently we have a lot of growth in crypto trading and generally you can see peoples reactions to crypto are wild.  Its pretty impressive growth though during a bear market, a good time to get involved in trading.
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February 04, 2019, 12:21:59 PM
Merited by CryptopreneurBrainboss (1)
 #9


Here are tips for maintaining emotions when trading :
-   When you see price fluctuations, don't panic and follow the market mindset that can actually be predicted. Try using an analysis of your ability one step ahead of other market participants
-   Don't rush into the market, take a little time to analyze market rumors before making a trade transaction. This is to find out the clarity of the direction of the market waiting for more confidence and calm.
-   Don't force yourself to participate in transactions, if you are unsure about the direction of market movements. It's better to wait or move to transact from the wrong position and psychology is approved.
-   Try to build a winning psychology, Create a daily target, Close the position if targeted. This is to build a winning psychology, not a loser.
-   Always in situations as calm as possible when entering the market. Humans are blessed with 3 virtues given by the highest creator, namely, the mind to think, the heart to pray, and time. For this reason, use these three gifts from God as best you can.
-   Accept sincerely when you accept defeat and don't get discouraged


Adding few points that I think are worth:
1. Maintain a PnL ratio of 7:3. If this ratio is distured then please take a break and analyse the mistakes.
2. Which even strategy you are good at and you can trust on try to automate it and improve the bot.
3. If your bets are going in loss. Take a break, analyse what we did wrong.
4. Do not get carried away by Greed i.e., keep booking profits.
5. Meditate Wink
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February 04, 2019, 06:45:00 PM
 #10

Staying as calm as possible when trading is very vital and can contribute a lot to the success of the trade.
Emotions and stress can affect the cause of trading and put the trader off balance,hence failures in trading.
We need to keep emotions under total control when trading,and use trading strategies which will keep us ahead and in line for profits

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February 04, 2019, 06:50:54 PM
 #11

The one item I'm missing here, and that is crucial before applying the other (great) tips is:
Learn to know and accept yourself.

You need to accept that you will panic and you will rush in, before you can coop with these behaviours.
If you are in denial ('I never panic') you will fall hard. First on the whole panicking, closely followed by a feeling of failure ('How did that happen?')

If you know what triggers your panic, you can find and train coping mechanisms.

Just my two cents...

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February 04, 2019, 08:59:34 PM
 #12

I think that inability to control emotions is one of main reasons why traders lose money. But even if you have solid head and know how to control your emotions and don't act expressively we still can't exclude this factor. We are humans and no matter how well you're trained we still make mistakes. We tend to make risky decisions, act based on emotions. We aren't robots without any emotions. And sometimes risky and emotional decisions are needed to reach best result in trading. But like in gambling you shouldn't lose your head and stop when it's needed.

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February 05, 2019, 08:50:16 PM
 #13

Emotion trading is key strategy in trading crypto asset in exchanges . The market is driven sentiment .so  trade effectively using emotional strategy you need fundamental analysis via crypto news channel.like some trade that use bot for trading is control by bot  but emotions of trader that drive the fluctuation of price
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February 06, 2019, 03:18:07 AM
 #14

Emotion trading is key strategy in trading crypto asset in exchanges . The market is driven sentiment .so  trade effectively using emotional strategy you need fundamental analysis via crypto news channel.like some trade that use bot for trading is control by bot  but emotions of trader that drive the fluctuation of price

This is true for all trading. When you are trading crypto you are a commodities trader. If that is important to you then you must learn your trade.
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