Getting too emotional while trading crypto

[jazmuzika217]

Believe it or not emotion has a big factor amd the huge competitor here in crypto industry. You need to control your emotion even it is fear investment or even your eagerness to make a huge investment. You need to use your mind over your emotion because all we know that we need to decide right in our investment because every decision we make is risky.

[Superalgos]

A bullet-proof technique to prevent emotions affecting your trading is switching from manual to automated trading.

I'm not talking about getting some magical bot from some random guy out there. I'm talking about automating your own trading strategies. When you do that, the creative aspects of trading (building strategies including all decision-making logic) is disconnected from the daily acts of trading (executing trades), which is ultimately handled by your bot.

Not only that. Automating your trading also forces you to be a lot more structured in your work. You work on a strategy, backtest it over historical data, do some paper trading and forward testing before actually going live. It's a long process, but it is that kind of structure that allows the pros to become profitable, unlike most amateurs who loose money all the time, due to their improvised, emotional actions.

This article explains how to make that switch, and you don't need to be a programmer to do it: Switching From Manual to Automated Crypto-Trading in 3 Steps

[ReiMomo]

Well, I think it's normal since we are talking about earnings or income the reason why we felt emotional sometimes. Especially when the price drops down we almost decide to panic selling but still, we are able to manage our emotions when it comes to trading crypto. You should follow what your brain says not on relying on your emotions because sometimes it will drag you down from your business in trading. I appreciated on what OP's stated.

[Google+]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

[KnightElite]

I always feel that it's very intense to trade. I have been trading crypto for two years now, but find it's still difficult to get used to all the constant price fluctuation.

I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless

For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:

What do you think? Do you have some more tricks you use against these emotions?

Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!

I will probably lose my money too if I will consider my emotions while I'm trading. It is better if we will not consider our emotions when we are trading because there are times that we can make bad decisions through considering emotions.

[jrrsparkles]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

Emotions can be profitable if you know how to use it,especially emotions of others.

Trading should be done with patience and much awareness,if you just take it as job with no effort then you will be start losing your capital in long term.

[panganib999]

I always feel that it's very intense to trade. I have been trading crypto for two years now, but find it's still difficult to get used to all the constant price fluctuation.

I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless

For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here:

What do you think? Do you have some more tricks you use against these emotions?

Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!

Cryptocurrency market has lots of ups, downs, twists and turns therefore as a crypto activist, enthusiast, trader and investor you need to stay still and remain unshaken by the changes that occured and may occur, And being too emotional is the last thing you need to carry with you upon entering cryptocurrency space. The only time you're gonna make a profit out of emotions is if the emotions you're going to use is other's to convince them do things that will go your way.

[South Park]

I always feel that it's very intense to trade. I have been trading crypto for two years now, but find it's still difficult to get used to all the constant price fluctuation.

I decided to write an article about this topic, including solutions to make sure your trading becomes more rational: https://steemit.com/cryptocurrency/@wickcrypto/an-emotional-guide-to-crypto-trading-why-paper-trading-is-useless

For example, using some simple tricks you can remove a lot of the emotion out of your trading. I trick that helped a lot was as simple as changing your color scheme in Tradingview. I don't think I am allowed yet to post pics on this forum, but you can check it out the big difference here: snip

What do you think? Do you have some more tricks you use against these emotions?

Also, it was the first post I made on Steemit so far, I'm very open to hear any feedback about it!

The most simple trick to avoid using your emotions when you are trading is to device a strategy that tells you when to get in the market and when to get out and to develop the will to follow it no matter what, that way you can get out of a losing position automatically without any drama, you must remember that the devastating losses that many traders suffer come from the fact many of them hold their positions for too long hoping for the market to recover when what they should be doing is to sell their coins to protect their capital.

[djselery]

Getting too emotional while trading cryptocurrencies isn't good and it will affect badly your physical and mental health too. You have to control your emotions while trading, because the market is unstable and the prices always are volatile, so there is always a possibility of losing, even if you are really an experienced trader.

[yvesp110]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

Emotions can be profitable if you know how to use it,especially emotions of others.

Trading should be done with patience and much awareness,if you just take it as job with no effort then you will be start losing your capital in long term.

Trading is just like any other jobs rather it demands more energy and work than any other physical or day job. You have to sit in front of desktops for hours keeping an eagle eye over the graphs of our crypto coins. In day trading, you cannot afford to miss even an hour because prices are volatile and getting emotional under such conditions make things even worst.

[Murat]

It's too bad to continue trading in any platform, don't take any decision based on emotion, I think there are some ways to recovering from these emotional issues. If you have proper education on this issue then you could gain a lot of confidence regarding more trading and then you couldn't depend on your other's advice or self emotion, so accurate information is must when you start something, another thing is that a market prediction is really a good tool in this crisis, If you have proper knowledge then you must have a good market prediction and then you could follow your vision, Don't think too much, think yourself rationally and try to get a solution by scrutinizing very carefully.

[ice098]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

Emotions can be profitable if you know how to use it,especially emotions of others.

Trading should be done with patience and much awareness,if you just take it as job with no effort then you will be start losing your capital in long term.

Trading is just like any other jobs rather it demands more energy and work than any other physical or day job. You have to sit in front of desktops for hours keeping an eagle eye over the graphs of our crypto coins. In day trading, you cannot afford to miss even an hour because prices are volatile and getting emotional under such conditions make things even worst.

We need to make our emotions stable, so in that case we will not be able to make a mistake, being too emotional can lead to many market losses I mean you can be distracted easily in different fud that you may see and it can cause you to sell in lower price

[Polar91]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

Emotions can be profitable if you know how to use it,especially emotions of others.

Trading should be done with patience and much awareness,if you just take it as job with no effort then you will be start losing your capital in long term.

Trading is just like any other jobs rather it demands more energy and work than any other physical or day job. You have to sit in front of desktops for hours keeping an eagle eye over the graphs of our crypto coins. In day trading, you cannot afford to miss even an hour because prices are volatile and getting emotional under such conditions make things even worst.

You actually don't have to do that since every movement could affect your emotion. I would rather plan the execution of my entry trade and then once I found the opportunity, I'll enter it with risk management. Through setting stop loss, you won't need to watch the market at the very long time. It'll save your time and possible losses.

[Hippocrypto]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

Emotions can be profitable if you know how to use it,especially emotions of others.

Trading should be done with patience and much awareness,if you just take it as job with no effort then you will be start losing your capital in long term.

Trading is just like any other jobs rather it demands more energy and work than any other physical or day job. You have to sit in front of desktops for hours keeping an eagle eye over the graphs of our crypto coins. In day trading, you cannot afford to miss even an hour because prices are volatile and getting emotional under such conditions make things even worst.

You actually don't have to do that since every movement could affect your emotion. I would rather plan the execution of my entry trade and then once I found the opportunity, I'll enter it with risk management. Through setting stop loss, you won't need to watch the market at the very long time. It'll save your time and possible losses.

Having gradual checking for price of your holdings could make us paranoid, specially that money is your source of income for daily living. You can't avoid being emotional, though setting stop loss could give you the confidence of hitting the target without stressing yourself watching the real time movement of the market.

[Dr.Osh]

being emotional when trading is something that cannot be eliminated. sometimes people get too excited, or sometimes people get greedy when trading. it's something that can't be avoided, especially when you've found the plot of trading.

I just feel there is no trick to get rid of things like this. even when you are patient. some people try to do it, but they are increasingly interested in trading because of his victory, or because of his defeat.

[Ashong Salonga]

Well it is normal for a trader to became too emotional while doing trading but off course i am advising all the trader  not to be greedy at all, i believe that to became a great trader we should first learn  not to panic when we are  on a sutuation that our cryptos is dumping it's value. Being calm in trading is the best thing to do.

[Webetcoins]

emotions can never be profitable, trading must be patient and relaxed, enjoy the cryptocurrency price movements and as much as possible do not let you be affected by a variety of bad news that can affect your emotions because it will only make you panic and can not think clearly.

Emotions can be profitable if you know how to use it,especially emotions of others.

Trading should be done with patience and much awareness,if you just take it as job with no effort then you will be start losing your capital in long term.

Trading is just like any other jobs rather it demands more energy and work than any other physical or day job. You have to sit in front of desktops for hours keeping an eagle eye over the graphs of our crypto coins. In day trading, you cannot afford to miss even an hour because prices are volatile and getting emotional under such conditions make things even worst.

We need to make our emotions stable, so in that case we will not be able to make a mistake, being too emotional can lead to many market losses I mean you can be distracted easily in different fud that you may see and it can cause you to sell in lower price

We need to understand that crypto is nothing fun, it is something that involves money and money is real power these days. We can never take things so lightly involving currencies; we are never suggested to take emotional decisions. Emotions are the ones that shall be reserved for relationships. Stick to your vision and never ever follow your emotions.

[mdzahed134]

I think emotions is mainly responsible factor for the loss trading in cryptocurrency. If you can't control it than you will lost. Market movement up and down is important thing in trading. Bad news will be affected in trading and you get emotional. So that i think daily trading is better to protect your emotions. Because for long trading make you panic and emotional. But i think it will happen in experience and beginner both of the traders                         

[Mumbeeptind1963]

Emotions can affect too much in every trade that we are doing, we need to stay calm and make our emotions stable so that it could not affect our trades, we can make a panic selling in that case we may lose a lot of money, we can easily be distracted by some many things and fud.

[Rufsilf]

Calm the mind from emotions It's difficult but you can practice it by playing games on your Android phone, I tried it and I managed to reduce my emotions then I continued my trading. You must have patience in the world of trading, otherwise you will continue to get emotional and it will disrupt your trading.

Playing games with our phone is not similar to the situation that we may encounter in trading. Too much pressure in trading and more in analytical strategies. We can't totally escaped from any emotions, even we tried to control it but still it shows...How we could make it right, do trading when we have peace in mind.