Keep proper distance but not losing passion

[Oilacris]

keep your distance from trading can be one of the strategies to get peace in trading so you can get new courage and clear mind in doing the next trade.

Maybe you mean on keep some distance on particular scenarios or situations when you do trade.If you do see that

you are making some loss or wont able to perform well on your trade then its wiser to stop or pause for a while and
make yourself calm and relax and analyze on how to do the next move.

[iMark]

keep your distance from trading can be one of the strategies to get peace in trading so you can get new courage and clear mind in doing the next trade.

Maybe you mean on keep some distance on particular scenarios or situations when you do trade.If you do see that

you are making some loss or wont able to perform well on your trade then its wiser to stop or pause for a while and
make yourself calm and relax and analyze on how to do the next move.

I don't think it will become some loss, keeping distance is important in trading, especially if you are in a state of stress due to loss, keeping your distance will make your mind clear again, and even when market conditions deteriorate, keeping distance is also important

[Aivaryamal]

Frankly speaking, everyone will have their own result in trading, because it is influenced by a huge number of factors, the time when a person started doing this, how much he can devote to this activity, whether he calculates well and sets goals in numbers

[Rufsilf]

Traders should use what works for them.  I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.

I agree on this because not all strategy or method that a successful gambler use may work on the other gambler, in my opinion, it is more difficult to follow what others are doing it is better to make a strategy own your own because it has higher chances of positive results.

[FanEagle]

I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results.

However, trading during crazy crypto markets when it goes up or down a lot due to volatility could be depending on how good you are, if you are a good trader you can make profit at anytime, if you are not then it is risky. Those are very different two things and should not be mixed.

[deisik]

I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)

[SquallLeonhart]

I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)

There are so many people that are being controlled by external emotion always, and that is why they are weak and when they go through any bad trade, instead of taking it as a lesson for them to amend and make it perfect, they allow emotion to rule the, get angry with the market and then exit without the intention of coming back, while someone who is good at controlling his or her emotion would see such mistake in trade as a lesson and then use it to better their skill and even if they have to exit the trading market temporarily, they do so with the intention of staying back to go learn the more before coming back to the market to become stronger. This is not only the area where emotion destroys people, there are still so many other areas too, but we just have to learn to control it.

[omonuyak]

I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)

In July, over confident makes me lose over $300 though I later make it back. I hardly depends on external factors but last month I was reading some speculations on Twitter and I became very confident that bitcoin is going down until in three minutes it recovered from $9325 to around $10,500 and that makes me force the trade to close. Currently I am seeing the same thing play out again and it is clear that we are going to see more of news and speculations this days as par what is next.

[deisik]

~

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)

I think that emotions would be what the OP is referring as like a garbage knowledge that he should get rid of. It's like an innate knowledge we always have in doing every single things in life anyway

There's another catch though

And this catch is what ruins not just wannabe and armchair traders but also seasoned and experienced ones. Long story short, we are not hard-wired for trading. We are made in such a way as to react quickly without a lot of thinking based on "innate knowledge" (read, a set of beliefs about something). But the problem is, in the majority of cases that leads to rash trading decisions resulting in the loss of money, and that is when you are still forced to act and react as quick as possible. It is this decision-making machinery that we are equipped with by default that ruins many a trader since it is simply inadequate for trading and it can't be easily changed or substituted (if ever)

[katerina5643]

I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)

I agree with you guys and think that emotions shouldn't take precedance over cool head. Also you should determine the enter and exit point properly. Just don't give up if you lose. If you are a beginner it's hard to control your emotions.But without self-control you won't gain a profit.Also it'd be good to use support and resistance in trading. Recently i have read an article provided by Monfex where they state "A good rule of thumb is to set your stops at support since if the price falls to consolidate at the break and fall back to the resistance, you now know that there was no demand at that price and that supply is growing.". Do you guys agree with it ?

[Aaronpp]

Not all traders should act in the same way as the best way to progress and learn from the market is by failing, those mistakes often train us not to make the same mistakes over and over again. Maintaining distance results in minimal failures and therefore equal learning, maintain distance but make effective movements that generate money only the most specialized traders because they already have all the necessary experience to know when it is the exact time to make a move.

[Mahanton]

Not all traders should act in the same way as the best way to progress and learn from the market is by failing, those mistakes often train us not to make the same mistakes over and over again. Maintaining distance results in minimal failures and therefore equal learning, maintain distance but make effective movements that generate money only the most specialized traders because they already have all the necessary experience to know when it is the exact time to make a move.

Quitting or taking some distance do have some advantage actually.You cant afford to just let yourself continuous on losing until you out source of funds.
Making some space isn't a bad decision rather the important thing is that you do know how to utilize that time to realize things or the mistakes you had done.
Losing passion is for those people who do easily give up when experiencing failures.

[sana54210]

I agree with you guys and think that emotions shouldn't take precedance over cool head. Also you should determine the enter and exit point properly. Just don't give up if you lose. If you are a beginner it's hard to control your emotions.But without self-control you won't gain a profit.Also it'd be good to use support and resistance in trading. Recently i have read an article provided by Monfex where they state "A good rule of thumb is to set your stops at support since if the price falls to consolidate at the break and fall back to the resistance, you now know that there was no demand at that price and that supply is growing.". Do you guys agree with it ?

I started trading as a Forex trader, and when I started it was really quite very difficult for me to control my emotion and I kept failing virtually in every trade that I do and what you said now made me remember how I started controlling my trade which is to first deal with the entry and exit point, this is where emotion usually play the most.

I simply just started making use of my stop loss and take profit tool, and when I set my trade, I try to be very reasonable and not too greedy, and with time, as I watch my profit grow, I learn never to play with those tools, they are every important if we really want to control our emotion. So dear, I totally agree with you that we should always set our stop loss for any trade that we make for us to trade without emotion.

[whyrqa-1]

The fact is that the main thing is not only to strive to realize your goals, but also to feel your abilities.  You can say a lot, but trading in the cryptocurrency market is not as easy as it seems.  Trading carries a huge risk and becoming an experienced professional will be possible only after a long time of practice and study of this activity.

[Thanasis]

Making profits is the ultimate goal of a trader it can happen in minutes or even years depends on many factors but how much we are trying to get into that place is important.First we need to manage our funds and need to minimise losses from trading then you can feel that you are here for some profit sooner or later.

[TheUltraElite]

Making profits is the ultimate goal of a trader it can happen in minutes or even years depends on many factors but how much we are trying to get into that place is important.First we need to manage our funds and need to minimise losses from trading then you can feel that you are here for some profit sooner or later.

The ultimate goal? More like the necessary goal. Although some people trade for a part time method or a side job of making a few bucks some do take it a real job and they are doing their own technical analysis being an investment banker. Although there will be bad losses and mistakes people do learn from them and make sure not to repeat them.

Managing funds is important but it is also important to take a break. Sometimes it all goes against you and you need to take a time out from trading and focus on other things before coming back. It is similar to a refreshment which is often productive.

[katerina5643]

I agree with you guys and think that emotions shouldn't take precedance over cool head. Also you should determine the enter and exit point properly. Just don't give up if you lose. If you are a beginner it's hard to control your emotions.But without self-control you won't gain a profit.Also it'd be good to use support and resistance in trading. Recently i have read an article provided by Monfex where they state "A good rule of thumb is to set your stops at support since if the price falls to consolidate at the break and fall back to the resistance, you now know that there was no demand at that price and that supply is growing.". Do you guys agree with it ?

I started trading as a Forex trader, and when I started it was really quite very difficult for me to control my emotion and I kept failing virtually in every trade that I do and what you said now made me remember how I started controlling my trade which is to first deal with the entry and exit point, this is where emotion usually play the most.

I simply just started making use of my stop loss and take profit tool, and when I set my trade, I try to be very reasonable and not too greedy, and with time, as I watch my profit grow, I learn never to play with those tools, they are every important if we really want to control our emotion. So dear, I totally agree with you that we should always set our stop loss for any trade that we make for us to trade without emotion.

Agree with you. I also set up stop loses in order to control my losses and minimize risks.

[sana54210]

Making profits is the ultimate goal of a trader it can happen in minutes or even years depends on many factors but how much we are trying to get into that place is important.First we need to manage our funds and need to minimise losses from trading then you can feel that you are here for some profit sooner or later.

The ultimate goal? More like the necessary goal. Although some people trade for a part time method or a side job of making a few bucks some do take it a real job and they are doing their own technical analysis being an investment banker. Although there will be bad losses and mistakes people do learn from them and make sure not to repeat them.

Managing funds is important but it is also important to take a break. Sometimes it all goes against you and you need to take a time out from trading and focus on other things before coming back. It is similar to a refreshment which is often productive.

If you take time from trading, it will make no difference if you still come back and has not taking the opportunity to learn more, rather than focusing on other things because sometime when you get yourself too involved in something, you will lose focus, it is better to still focus on that one thing that you wishes to get better on.

I think anyone that is taking a break from live trading should take such break for the purpose of gathering more skills and strategies through proper practice, and then also picking the mistakes he made from the journal that he is using to investigate and see where the lapses came from for him to really adjust and get better, so that when he comes back, he would trade differently and like a professional.

[Julien_Olynpic]

I think that means this. Do not let emotions control you. Relaxation allows you to connect with intuition and take a fresh look at things. Perhaps this will achieve great success in trade.

[TheBusstop]

the crypto trading platform is a little bit similar to the forex. one needs to practice and learn the market before taking a step out. practise they said make perfect. it is a matter of time for whoever that wants to trade to bend down and learn the basic of trading. Another issue that attracts most traders close to the market is fear of missing out.