How to control your emotions while trading?👨🏼‍💻

[tambok]

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Once we wanted or we are currently doing trading, we must be very careful and aware  that our emotion or our self is our biggest enemy. If this day, we are in a bad mood as something happened at work, or at home, then let's relax our mind first, let's clear things, we must not do trading at the moment, let's make time to recover our mood first. Once we are fine, then we can go on with it again.

[panganib999]

Comparison is really killing the trade business. Most traders have left their trading plan because they feel they are not making enough money but forgetting that they are suppose to believe in their skills and gradually develop the capital.

People are busy comparing theirselves to other people about where they are right now and where other people are. Thinking and seeing that the grass on other garden is greener thamntheirs but isn't doing their thing to make their own grass greener, instead they would copy other's planting strategy without knowing that there is healthier, greener and so much abundance waiting for them with their own strategy and just needs time to develop but then they would abandon it and try what might not suit them, this analogy is very much suited for trading. How jealousy and wanting other people's luck could ruin what has been planned and awaits you.

[Renampun]

controlling emotions when trading will be very difficult if we don't set a limiting point
for example, we set in how much % the increase we do Sell, and how much % decrease we make a Buy or Cut loss
and one more thing we must remember, do not think to be rich in 1 night, greedy is the destruction all traders.

[doomloop]

Pretty hard to overcome specially if you're really devastated of what had happened. The only thing I can think of possiby to somehow control your emotion is that take a little break, go away from what you're currently doing, look outside, eat something. Emotions are pretty tough to control but you can somehow aid it with a little break, so that, it won't have a huge effect in your trading.

Usually day traders face this problem of staying under the strong influence of emotions. In my opinion, both extremes of emotions that are ecstasy and stress are bad for traders because under both situations they are unable to make decision by staying neutral. I often suggest pausing trading when you experiencing any situation by involving yourself into activity that uses your energy physically. 

[Darooghe]

There are so many traders that are trading well in a demo account but when they trade in live account, their performance gets affected. To be a successful trader, you need to be financially as well as psychologically ready to bear the loss.

I think keeping a journal of your trading activity will help you understand where you went wrong as well as what you did well. this will help you rationalize your decisions better and keep your emotions in check. Ultimately, if emotions drive your trade, and tend to drive it poorly, automate you strategy. the technologies available today provide for ease of development for simple to complex automated trading strategies.

[Best Dreams]

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Once we wanted or we are currently doing trading, we must be very careful and aware  that our emotion or our self is our biggest enemy. If this day, we are in a bad mood as something happened at work, or at home, then let's relax our mind first, let's clear things, we must not do trading at the moment, let's make time to recover our mood first. Once we are fine, then we can go on with it again.

Yes, self control is our biggest success as a trader as when I was new so at every price change so Many things started to come in my mind, these kind of thoughts can be positive and negative so in this time we should only stay stable and hold our coins to let things normal instead of taking stress and making wrong decision and also important not to let your other affairs spoil your trading earning.

[befriendmywater]

The problem is quite simple for veteran traders. In order to control your emotions when trading, you need to be in good health and a good spirit before trading. Besides, always have to set yourself the rules in the transaction and follow it in every transaction.
It is the best way to keep your mind on trading because you already have a plan in advance. That's the way I used to trade and I still have a good day to enjoy.

[TRONTON]

That emotion of yours could either be from sudden reaction that will also disappear at a sudden and you'll get back to your own rationality in trading or you're driven by emotion that easily and that's a bad thing. Your emotion won't have a price in any market so you should be better of eliminating it. Set your mindset in a "Reason over emotion" while trading.

This is not always true if traders face huge panic losses, especially when playing margin, must always be disciplined with money management. No matter how bad our emotions are, we still need to know the limits of signing out in a state of not opening a position anymore. Time cannot be measured when we remember about profit targets, but we must cut losses immediately without any reason, especially when high emotions to cover losses arise.

[Edraket31]

That emotion of yours could either be from sudden reaction that will also disappear at a sudden and you'll get back to your own rationality in trading or you're driven by emotion that easily and that's a bad thing. Your emotion won't have a price in any market so you should be better of eliminating it. Set your mindset in a "Reason over emotion" while trading.

This is not always successful if a trader experiences a large loss, especially when playing margin, must always be disciplined with money management. No matter how bad our emotions are, we still need to know the limits to signing out in a state of not opening a position anymore. Time cannot be measured when we remember about profit targets, but we must immediately cut losses without any reason, especially when high emotions to cover losses arise.

Exactly, I've known some and red some book that they lost  some amount yesterday, and for them to be able to recover the loss, they were too aggressive today hoping and thinking they can recover it today too, so their emotion is too high, and what happened most of the time they are losing again, so trading with high emotion will not help you at all, better if you lost yesterday and you think you can't control your self then better to relax first today and come back in trading when ready.

[qwertyup23]

controlling emotions when trading will be very difficult if we don't set a limiting point
for example, we set in how much % the increase we do Sell, and how much % decrease we make a Buy or Cut loss
and one more thing we must remember, do not think to be rich in 1 night, greedy is the destruction all traders.

As someone who knows people who use trading as their main source of income and does it on a daily basis, I can conclusively say that trading really involves experience and skill at the same time. You have to be ready to risk a percentage of your capital and devote time in order to realize income. Although the risk may be high, the rewards are surely worth it especially if you successfully recover your winnings.

The main problem with trading revolves around the inexperience of people. Most usually trade using large amounts of money without even knowing the basics and fundamentals of it. Better to start and take things slow.

[kanayaTabitha]

yes ; i think looking the prices or charts every moment not good at all because bitcoin is a global business with a large number of traders from all over the world.for this reason prices not stable  . the good trader is who dont belive fake news too ; everyone should not worry about prices in short term

It's because bitcoin is decentralized and the bitcoin possesion is not even, so the old bitcoin buyer will have so much bitcoins right now and they can control the market movement. That's why it's become useless if we always watch the market because the market movement is controllable by the whales, we better prepare to chase market in any condition and don't have to play with our emotion so we'll live happily and our trades on going well

[Triffin]

Controlling your emotions while trading is most important thing which a trader cannot ignore if he want to survive in the market making profits.If trader gets panic in dump situation he will suffer loss or maybe he get away from market so he need to stay calm even in worst situations and hodl their coins to get high returns when price surge and bull run hit the market.

Panicking should even be the least that people should do when it comes to cryptocurrency trading or investment because bitcoin is not like Forex that when the market is going that, it could go so low and cut off the trading capital which may make the trader to lose his trade.

If bitcoin rice goes down, as long as the trader dos not panic sell, no trader has still lost, because when the price makes a recovery, they can still regain their capital back except for people that are trading on leverage which I don’t usually support. If we are not leveraging and we don’t panic sell, our trade will always work itself out provided we have some level of patience because some price recovery could really take time to recover the trader's money back.

Once we wanted or we are currently doing trading, we must be very careful and aware  that our emotion or our self is our biggest enemy. If this day, we are in a bad mood as something happened at work, or at home, then let's relax our mind first, let's clear things, we must not do trading at the moment, let's make time to recover our mood first. Once we are fine, then we can go on with it again.

Bad mood makes your mind dull which leads to awful decisions. Emotions make you unstable and decrease your concentration whereas trading is a job that demands hell of concentration in order not to miss any chance of buying or selling coins. I will never try trading especially day trading with bad mood. I will go for nap or some exercise to convert negative energy into positive and afterwards will start trading.

[cryptothreads]

That emotion of yours could either be from sudden reaction that will also disappear at a sudden and you'll get back to your own rationality in trading or you're driven by emotion that easily and that's a bad thing. Your emotion won't have a price in any market so you should be better of eliminating it. Set your mindset in a "Reason over emotion" while trading.

This is not always true if traders face huge panic losses, especially when playing margin, must always be disciplined with money management. No matter how bad our emotions are, we still need to know the limits of signing out in a state of not opening a position anymore. Time cannot be measured when we remember about profit targets, but we must cut losses immediately without any reason, especially when high emotions to cover losses arise.

Margin trading needs to be calm in any situation and if you panic all of that investment will soon disappear because margin is the riskiest trade in this market. In my opinion, psychology greatly affects investors and it takes a lot of time to practice. In fact the number of investors making a profit from margin is very low and it is impossible to predict the value of the coin in this market.

Before margin I usually have a very specific strategy and have to follow that plan because if there is no clear plan, you will soon lose all your assets when joini.

[Shimmiry]

Before control emotions, firstly i already lose so many Bitcoin on trading. I am really mad and sad at that time.
I always try to learn from my lose. Every time i get lose from trading i learn something experience.
That is patience. We need some research before join in trading. Reading some news, studied what project we want invest, etc. That tips might help you.

Your 4 tips i think not all right.
I always see the chart too much. If i think that time is good, i will buy at the lowest price.

There are a lot of traders who can't control their emotions while trading. Most of them got feared because they were afraid to choose the right decision if they will proceed or not. The first-timer in trading felt excitement for the profit and taking the risk to earn on it, not all the time we win all those trade and not to gain benefit and realizing the regretting we did because we experience too much greed to the money.

Great stuff, but this has been already discussed here in the forum. That is basic tips and nothing new on this trading tip.
I would suggest improving more your OP thread and the unbolded line would be fine.

Your references: Do You Need To Put Your Emotion in Trading ?
                         Trading tips
                         Four steps to successful speculation(2) and etc.

It sounds like it is already discussed at this thread https://bitcointalk.org/index.php?topic=5187272.0

But anyway...I have to add something in here...
The most common mistake of a trader is because they allow their trades driven by their emotions which it likely has a negative result. Losing what I meant to say. Maybe people could think that it was easy to control our emotion but you can find it hard when you tried to become a trader.

There is a lot of pressure to your self when it comes in trading, and you may be paranoid always to alert your self just checking the chart if the price is right to better trade, all of us are afraid to lose our assets but not all the time we can also win and gain profit. Make a goal that even a small amount of profit is good too because it increases your money.

[DeathProxy]

Fear of missing out (Fomo) is what i have suffered from in times past and i learnt in the had way.  So this day am very careful not do the mistake again. Any coin i missed out of buying when the price was low, i don't jump on it when the price is pumping. Once i don't find a good entry point before the punp i wait for another correction and good entry point before i dive in. This has affected many traders but once traders can keep their emotions in check they can maximize profit

[Visbay]

Before control emotions, firstly i already lose so many Bitcoin on trading. I am really mad and sad at that time.
I always try to learn from my lose. Every time i get lose from trading i learn something experience.
That is patience. We need some research before join in trading. Reading some news, studied what project we want invest, etc. That tips might help you.

Your 4 tips i think not all right.
I always see the chart too much. If i think that time is good, i will buy at the lowest price.

There are a lot of traders who can't control their emotions while trading. Most of them got feared because they were afraid to choose the right decision if they will proceed or not. The first-timer in trading felt excitement for the profit and taking the risk to earn on it, not all the time we win all those trade and not to gain benefit and realizing the regretting we did because we experience too much greed to the money.

Great stuff, but this has been already discussed here in the forum. That is basic tips and nothing new on this trading tip.
I would suggest improving more your OP thread and the unbolded line would be fine.

Your references: Do You Need To Put Your Emotion in Trading ?
                         Trading tips
                         Four steps to successful speculation(2) and etc.

It sounds like it is already discussed at this thread https://bitcointalk.org/index.php?topic=5187272.0

But anyway...I have to add something in here...
The most common mistake of a trader is because they allow their trades driven by their emotions which it likely has a negative result. Losing what I meant to say. Maybe people could think that it was easy to control our emotion but you can find it hard when you tried to become a trader.

There is a lot of pressure to your self when it comes in trading, and you may be paranoid always to alert your self just checking the chart if the price is right to better trade, all of us are afraid to lose our assets but not all the time we can also win and gain profit. Make a goal that even a small amount of profit is good too because it increases your money.

I don’t think that a trader should take such tension or @ pressure about the market check. A trader should remain calm and not worry too much because it can cause loss to them. Just chill and learn about trading, you can check the market price randomly during break or while taking tea so just relax and trade for the long term if you find day trading stressful for you.

[Yamifoud]

Emotions make people dead as well, not just in trading but in all aspects of our life. It comes into the moment when we try to test how strong we are and be reactive to a certain scenario. If we are in emotional trading, it surely our life in trading ended pretty quick and this is what it happens to some of us here. Our emotions can be control but not to think that it can be instant, it changes gradually if we work on it seriously.

Trading is sometimes stressful when we are an in-depth challenge, especially during the bearish season.  Some traders quit because of this because they can no longer handle the stress and even bothered with their decision to take.

[Lecam]

One of the most popular emotions among traders is a notorious fear of missing out,
or simply FOMO, which picks when the market is high.📈
⠀
Watching the price of an asset soaring higher and higher, while out of the deal,
a trader often feels even worse than in case of losses.⚠️
⠀
So, what exactly can you do to prevent emotion-connected issues?
⠀
Accept the fact that you can’t buy at the lowest and sell at the highest prices;☝🏻
⠀
Don’t be looking at the charts all the time;❌
⠀
Use a trading plan ruling how to deal with profits and losses;📝
⠀
Follow your own plans, don’t compare your results with results of other traders too often.👨🏼‍💼

There's a lot of emotions when get into trading especially when you are buy coins in a high amount then after that coins will slowly goes down you can now feel the fear because you can lose your money. But one i tell once you in trading try to think positive and choose the good coins that you can trade and get a profit. Like ether you can buy ether now because the is goes down then set the price what you want to sell on it. Don't be afraid of your lossing because once you have good strategy you can get it back what you lose. Your emotions can lose all your money.

[dioanna]

This one is really hard bcoz of greed and FOMO, I admit this is one of my flaws
but I know it is possible if you have set your attitude right and have self-discipline.

[Mumbeeptind1963]

Fear of missing out (Fomo) is what i have suffered from in times past and i learnt in the had way.  So this day am very careful not do the mistake again. Any coin i missed out of buying when the price was low, i don't jump on it when the price is pumping. Once i don't find a good entry point before the punp i wait for another correction and good entry point before i dive in. This has affected many traders but once traders can keep their emotions in check they can maximize profit

We tend to feel this everytime we make a trade because of what happen in our past , we should make this painful memory into a motivation for us to look forward for us not to make it happen again. Our emotion is our biggest enemy , if we learn to handle it we can be a tough trader we cannot be easily get affected by bad news about crypto and everything and we can accept lose sometimes.