First hand examples of Emotional trading

[clover12]

What are some examples of when emotions mess up your trades?

[logfiles]

- You feel so greedy and you want to make a profit of 150% overnight
- You take too long to decide when to sell off or buy
- Your buy or sell actions are often determined by sudden price changes i.e. Buying coins at peak price and panic selling them off at bottom prices.

[clover12]

Yeah. Emotional investing is looking for the quick fix

[glendall]

first is patience,
patience is the main key to successful trading, because without patience we will often be stressed when seeing the market go down so fast,
the second is don't panic.
do not panic is the second key to successful trading, because if we often panic then we will also often cut losses,
and learning to control both emotions is the key to success.

[matchi2011]

What are some examples of when emotions mess up your trades?

Fear when the value of your assets start to fall, thinking to quickly dumped to avoid more loses, common reactions where emotions got first inside
your minds and not to allow you to think well,

Greed when rising is ongoing and failed to sell in the right timing, when value falls regrets happened, emotion is a wild side of our mindset, we
better learn how to balance so we will be able to succeed.

[elda34b]

first is patience,
patience is the main key to successful trading, because without patience we will often be stressed when seeing the market go down so fast,
the second is don't panic.
do not panic is the second key to successful trading, because if we often panic then we will also often cut losses,
and learning to control both emotions is the key to success.

Dude, you realize what you're typing is not the answer to OP question right?

- You take too long to decide when to sell off or buy

I don't think this can happen only because you're emotional, but it might happen too if you use too many indicators. Because of this, most traders recommend to use around 4 or 5 indicators in order to guide your trade (unless you're doing fundamental trading or long-term holding).

Btw, a tip to avoid getting emotional is to always stick to your plan. Sure, you might miss big gains but you can manage risk properly with that. Instead of hoping to get 1000% overnight, you should avoid getting rekt by 50%.

[wayancrypto]

In the end of 2017 i earned 500% from 1 trade but after that i decide to hold that coin with aim to get more profit, and i did not use stop loss but finally the price keep dow to more than 90%. This biggest my mistake ever, greedy been make me loss much money. Greedy is natural emotional thay hard to control it so important to use stop loss after you buy crypto because no body can predict the future.

[sujonali1819]

What are some examples of when emotions mess up your trades?

1. Some time we become very greedy. And don't close the trade with profit.
2. Some time trying to buy quickly a pumped coin with emotion.
3. Some time sell a coin which dump heavily and again buy the same coin after sometime of sell with high price.

We should always control our emotions. And we should take a decision with cool head and without emotion. Always be cool before buying and selling a coin. And should close a trade with little bit of profit.

[yanto@1977]

What are some examples of when emotions mess up your trades?

Emotions can change your decisions, you can't think clearly again but follow your instinct with out calculation. Many people fails because can't control emotion and they always blame the market, that's wrong. Control meaning follow the strategy, reach the point cut loss and go, simple like that.

[St4yInTh3D4rk]

What are some examples of when emotions mess up your trades?

1. Some time we become very greedy. And don't close the trade with profit.
2. Some time trying to buy quickly a pumped coin with emotion.
3. Some time sell a coin which dump heavily and again buy the same coin after sometime of sell with high price.

We should always control our emotions. And we should take a decision with cool head and without emotion. Always be cool before buying and selling a coin. And should close a trade with little bit of profit.

Trading is driven by emotions so it is not controllable at most cases and it maybe identified and can restrict the losses from emotional trading when you have lot of experience to face that situation.I don't say it is wrong to buy a coin when it is bumped up but it needs to be in short term and need to close that bumped coin very soon to make profits even if you see that prices were bumping again.

[Bttzed03]

Based on my own experience, it is the not selling of coins and tokens when it is already at a good profit thinking it would still go up. I've also sold some coins out of panic.

[Yaunfitda]

What are some examples of when emotions mess up your trades?

Here are some trades that goes wrong because of myself being emotional:

- I already made 50% last 3 days, I didn't sell and thinking that the price could still go up, next thing happened it goes down again

- I didn't listen to my gut feeling, did not invest then the price goes to the moon

- I listen to someone shilling for a certain token and since he is a friend of mind, I put big amount of money, now I'm still down and the coins never goes up

[shirackjs]

In crypto, I think panic and fear of missing out are the two emotions that commonly mess up trades. Here some examples:
Panic: When an investor hear some bad news about the coin he has invested, he panic and dump his coin at a price lower than his buying price.
Fear: When an investor see the price of a coin pumping, he is afraid that he miss the train and buy the coin at a high price.

[clover12]

In the end of 2017 i earned 500% from 1 trade but after that i decide to hold that coin with aim to get more profit, and i did not use stop loss but finally the price keep dow to more than 90%. This biggest my mistake ever, greedy been make me loss much money. Greedy is natural emotional thay hard to control it so important to use stop loss after you buy crypto because no body can predict the future.

How do you caluculate the best stop loss value? (When you decide to cut your losses and sell)

[clover12]

Well I am sitting on a few trades (my whole account balance) and waiting for the price to reach my original stop limits, for a small profit.
 
I must have not read the charts well enough and bought at the wrong time. You live and you learn huh?
 
But I am not going to just cash out and lose, because the trades that are hanging are with semi steady alt coins that should go back up...

[Mpamaegbu]

Not following through with your trading plan after you buy the asset is a major emotional disaster. Set your targets and stick to them. Have a plan B in case things don't go well but let that B plan not happen on the spur of the moment. Emotion is the major killer in trading.

But I am not going to just cash out and lose, because the trades that are hanging are with semi steady alt coins that should go back up...

You may want to stay on those trades because a bull run is on the way.

[kiansantan]

Making decisions when emotions are high, often results in decisions that cause regret. One of them was selling coins in panic because they heard the news that was going to go down. The news was hoak. Without analyzing the truth.

[clover12]

Not following through with your trading plan after you buy the asset is a major emotional disaster. Set your targets and stick to them. Have a plan B in case things don't go well but let that B plan not happen on the spur of the moment. Emotion is the major killer in trading.

But I am not going to just cash out and lose, because the trades that are hanging are with semi steady alt coins that should go back up...

You may want to stay on those trades because a bull run is on the way.

How do you know??

[Fredomago]

Based on my own experience, it is the not selling of coins and tokens when it is already at a good profit thinking it would still go up. I've also sold some coins out of panic.

Greediness affects most of the traders, forgetting to sell while the value is rising thinking that there's a lots of uptrend movement to happen, waiting for much higher value, but suddenly value start to fall and when the value is really down then emotion again influence you to sell out with a big loses.

[dothebeats]

This happened to me back in the heydays of the now-defunct Mintpal. I was trading Blackcoin and kept it for a few days. Then a sudden pump happened, and I was so happy my coins are getting its value for once. Thinking that it would continuously climb up, I didn't sold my coins even though I'm almost @ 200% profit from my entry point. Little did I know that it would be the last push before everything goes to shit, and instead of getting insane amount of profits, I ended up with just 20% gain which isn't that bad but still. Greediness got the better of me, resulting into a mediocre gain instead of having a hefty sum at my arsenal.