Things that influence our trading decisions

[bakasabo]

Brand recognition is what influences on trading. If we find altcoin familiar, there is a high probability that we gonna consider buying it. There are thousand of altcoins, but we mostly buy and sell only those that we have seen once. That has close connection to visual memory and laziness. Instead if searching, many just choose crypto from top50 and blindly trade those alts all the time.

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[waONE]

* Emotions in trading

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

Probably emotions are mostly the reason why we often get destructed when trading. That is because we tend to forget that emotions are not good in trading. And while most traders cannot control their emotions when trading, especially when greed is high, that’s the reason why their trades end up unsuccessful not because they don’t have the skills to trade, but because they’re driven with too much emotions that will ruin their focus in trading.

Controlling emotions is the most important part that must be mastered before trading,
make decisions when unstable emotions will affect and usually end in failure or loss,
many things that must be prepared in trading not only knowledge and skills.

[rojan]

* Emotions in trading

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

Probably emotions are mostly the reason why we often get destructed when trading. That is because we tend to forget that emotions are not good in trading. And while most traders cannot control their emotions when trading, especially when greed is high, that’s the reason why their trades end up unsuccessful not because they don’t have the skills to trade, but because they’re driven with too much emotions that will ruin their focus in trading.

Controlling emotions is the most important part that must be mastered before trading,
make decisions when unstable emotions will affect and usually end in failure or loss,
many things that must be prepared in trading not only knowledge and skills.

If someone can't control his emotions while trading then he will be in big trouble. We always have to be careful to trade. We have to be careful not to lose our money. A person who controls his emotions while trading can trade.  Can be the real trader. Sometimes we lose money due to some small mistakes for which we face many problems. Not everyone can earn money by trading because to earn money by trading requires a lot of patience which not everyone has.

[AmoreJaz]

The biggest issues and why most traders never make it in this business is basically greed and fear.

You enter a good trade, you are in profit but you don’t get out due to greed. Then the trade goes against you and as soon as you are break even you close it and it eventually starts to go your way. But you already closed the trade due to fear.

This is why many blow up their accounts everyday. If it wasn’t for this emotion of extreme greed and fear then trading would be as difficult as it is.

we can't totally discard such emotions because we are only humans. and that is human nature. but a person of course can contain these emotions. but he should have good tactics on how to control such feelings so as not to drag himself on going down.
and for me, one of the major factors that can influence my trading decision is the availability of funds, and to what extent i can use such funds. trading knowledge can be learned and once you have enough money, you can actually start learning those tricks.

[Ndabagi01]

Brand recognition is what influences on trading. If we find altcoin familiar, there is a high probability that we gonna consider buying it. There are thousand of altcoins, but we mostly buy and sell only those that we have seen once. That has close connection to visual memory and laziness. Instead if searching, many just choose crypto from top50 and blindly trade those alts all the time.

This is just similar to rating of a product on a particular site or an advert that shows content according to their advert payment. Those with high interest will first be considered to be displayed and will get to be display from time to time as long as the advert is still valid. This is just simple example of why there’s a high probability of buying and holding of coins that are mostly on top 50 rating. For it to get to that stand, it must have been scrutinized and also have much impact in the market like others. Most of the altcoins don’t remain forever in the market, some, as time goes on usually exit the market as they can’t keep up again or the project managers already ran away with their money after dumping such coins.

[dothebeats]

Emotion is the main driving force on a lot of failed trades. I kinda understand why people trade out of their feelings. If you aren't completely versed in what you're doing, there will be times wherein you will be shaken by your decisions and you will not be sure what the next steps to take are. This feeling of uncertainty is what will drive you to make trading decisions that are bad or are really uninformed. One way to combat this is to do a lot of practice trades with play money, and then learn whatever there is to learn in trading before doing the actual thing. One bad loss can really discourage anyone from trading, but what's a loss if you can convert it to a profit in the long run anyway?

[sheenshane]

Emotion is the main driving force on a lot of failed trades.

If this was in the system, it could be the main core.
Our emotions have a profound impact on the decisions we make, especially when it comes to trading and there are two key emotions that often influence our decision-making process are fear and greed. Fear can be a powerful force, causing us to hesitate when entering or exiting trades.  It can lead us to exit prematurely, even when we know it may be too early to do so.  So this is very important to pay attention to.

By controlling emotions, we can maintain discipline and stick to our trading strategies, even in the face of market fluctuations because it allows us to make rational decisions based on objective criteria, increasing the probability of successful trades.  In fact, emotional control helps us manage risk effectively and maintain a long-term perspective, fostering consistency and most of all to have successful trades.

[Kelvinid]

In addition to that OP, we also need
 - financial supports
 - family supports

We need extra money because it wasn't all the time our trades went so smoothly and profit, we need to have a backup just in case we lose it all. And most of all support from our family - the more we have them at the back, the more we are encouraged to work hard and do trades carefully.

Preparing ourselves is really the best thing to do. Plan and Execution - everything went so well.

[Strongkored]

Good day everyone, let's talk about the factors in our Trading decision in terms of psychology. There are many things that affect our decision-making, and that's why sometimes we don't know why we make that decision. Sometimes we are repeating the same mistake over and over. Let's find out the common triggers that happen in our brain that make our judgment poor in trading.

You have a valid point about emotions in trading, fear and greed often make traders not get maximum results and these emotions are also influenced by limited skills in trading because traders who have good skills will not involve too much emotion in trading but will be more rational because they understand that trading is about accurate analysis and calculation when to enter the market and when to exit the market, even though traders will find it difficult to analyze the lower and upper limits precisely, those who already have the skills will not wait below far from what might happen. also waiting on top won't be high than the probability that it will happen.
Social support is good for us to also discuss trading and what's happening so that our trades are not far behind.

[milewilda]

Good day everyone, let's talk about the factors in our Trading decision in terms of psychology. There are many things that affect our decision-making, and that's why sometimes we don't know why we make that decision. Sometimes we are repeating the same mistake over and over. Let's find out the common triggers that happen in our brain that make our judgment poor in trading.

You have a valid point about emotions in trading, fear and greed often make traders not get maximum results and these emotions are also influenced by limited skills in trading because traders who have good skills will not involve too much emotion in trading but will be more rational because they understand that trading is about accurate analysis and calculation when to enter the market and when to exit the market, even though traders will find it difficult to analyze the lower and upper limits precisely, those who already have the skills will not wait below far from what might happen. also waiting on top won't be high than the probability that it will happen.
Social support is good for us to also discuss trading and what's happening so that our trades are not far behind.

We are just humans after all on which it will really be giving out that kind of effect on the time that we do feel up these things along the way specially if there would really be sudden news and  it would really be giving out that kind of idea that it might really be stirring up the market condition once again, once these kind of assumptions would play up into your mind then you would definitely be having that kind of thinking that you should really alter out your initial decisions or plans on which it is really that a common approach. Those things listed on OP are really that indeed part or possibilities on why a certain trader would really be able to fail up on following
up their plans but of course not all alterations would be ending up on negative because there are sudden changes which it did make out the right call on doing so. Not all would really be ending up on a disaster
but rather it would really be giving a good call on sudden change.

[Sanitough]

* Emotions in trading

This is very common and I can give my own example and own experience for this:

For example, you entered a trade and before you entered a trade you already have the plan for an entry price, stop loss price, and exit price.
The position is already open and you are already in profit suddenly you saw some news or post on social media which causes a price drop, and then you panic and feel to close your trade immediately even if the stop loss price is not yet met.

See? Your emotion ruined your trade position even you already plan everything before you open a trade.

Emotions in trading is something that we can’t easily get rid of especially if you are weak and easily fall on your dumb emotions. But know that when you enter trading, the more you rely and get hold of your emotions, the more you will doom to failure and losses. That’s the reason why you need to stick with your original plan and not settle on taking a new plan, otherwise you will face inevitable losses because of your hard to control emotions.

[puloweh555]

It is undeniable that every trader will experience something like being unable to control emotions and greed. It's human nature, most of us want to quickly cover losses quickly, and get quick profits, but that's what causes us to lose more and more. So in my opinion it is also important to build psychology when trading because it is very important, not just technical. The point is the trader psychology tips that I feel are patient and stay consistent with your method. Start over from scratch like you did when you first started trading. And don't repeat the mistakes that have cost you.

Manage emotions when a big loss
1. Limit losses. should not be more than the average profit on a normal day.
2. Set a target stop loss.
3. Avoid trading for revenge. do not force yourself to trade for the sake of returning previous losses.
4. Dare to face reality when you experience trading losses.
5. Stop trading for a while when you experience big losses
6. Rehearse on a demo account to build confidence post loss

[lalabotax]

....
* Emotions in trading
......
* Emotional Intelligence

To be honest, this has a very big influence on the decision-making of trading activities. Here, we sometimes feel that we are quite ready to trade, we have enough knowledge needed for crypto analysis before trading, as well as the knowledge for trading itself. But sometimes it all ends in vain because our emotions are not ready. Sometimes, we are still not ready to control and manage our emotions when trading, and this is very influential. Because emotional instability can cause panic, fear, and also a rush to make decisions quickly without good and wise considerations and one ends to lose money because of unstable emotion management and controls..

[Finestream]

Almost everything influences the trading process. And in fact - to make a decision is not an easy task. So, it is only at first glance that everything is simple, accessible and understandable.

If you become mentally strong, then many of the issues mentioned in the op can easily be solved. You need to be determined completely and should not lose focus from your goal or daily limit. Making a decision was always hard, as several factors affect here. You need to analyse the risk, estimate the outcomes and predict the direction before investing in any coin. If a person excels in everything I mentioned previously then definitely he can reduce the risk and can completely change his profits or basically increases it.

Right, trading is hard but when you learn consistently the trading process and overcome its risk, then it will be easier for you to trade successfully, and making profits each time opportunities knock on you. However, the problem with some traders is that each time they see profits, they become reluctant to sell because of their greed and high expectation that there will be bigger profits waiting ahead. Although at some point it’s true, but the reality that this trading market is also unpredictable, then we should learn to be contented and grab whatever present opportunities in the market. Otherwise, you’ll end up selling at a loss and right then, some traders would conclude that trading was never their thing.

[Awaklara]

....
* Emotions in trading
......
* Emotional Intelligence

To be honest, this has a very big influence on the decision-making of trading activities. Here, we sometimes feel that we are quite ready to trade, we have enough knowledge needed for crypto analysis before trading, as well as the knowledge for trading itself. But sometimes it all ends in vain because our emotions are not ready. Sometimes, we are still not ready to control and manage our emotions when trading, and this is very influential. Because emotional instability can cause panic, fear, and also a rush to make decisions quickly without good and wise considerations and one ends to lose money because of unstable emotion management and controls..

knowledge can be learned and skills can be honed but experience must be sought by trying. That is what will differentiate an intelligent trader and an experienced trader. Controlling emotions is part of a trader's experience. it can't just be when we read books as we learn about trading strategies. emotional control will grow when we have enough calm in our trading. and it will influence traders when making decisions.

[yhiaali3]

* Emotional Intelligence

This is the way for us to recognize the emotional estate, and how it influences our decision-making. Our traders have different techniques to cultivate emotional intelligence and maintain emotional balance during trading. One of these is "Mindfulness meditation" a type of technique that can help people to observe thoughts and emotions without judgment so that rational decision-making can return. And another effective method is "Journaling" Here, traders can track the decisions they made in the past, and they can reflect on their emotions.

This is where they can identify the triggers of why they decided to enter the trade so that the same mistakes will not happen again. Because a trader gains insight into his emotional response and can develop the right strategy to manage them effectively.

“Emotional Intelligence” This is a new term in trading for me, I did not fully understand what is meant by emotional intelligence, does it mean the ability to control our emotions when trading?

I know that the basic emotions that control the trader are fear and greed, and they are often the reason for his loss, and a good trader is the one who develops his ability to control the emotions of fear and greed, but this is not easy because of the nature of the human psyche, it is very difficult to overcome human nature.

[judaspriest]

....
* Emotions in trading
......
* Emotional Intelligence

To be honest, this has a very big influence on the decision-making of trading activities. Here, we sometimes feel that we are quite ready to trade, we have enough knowledge needed for crypto analysis before trading, as well as the knowledge for trading itself. But sometimes it all ends in vain because our emotions are not ready. Sometimes, we are still not ready to control and manage our emotions when trading, and this is very influential. Because emotional instability can cause panic, fear, and also a rush to make decisions quickly without good and wise considerations and one ends to lose money because of unstable emotion management and controls..

knowledge can be learned and skills can be honed but experience must be sought by trying. That is what will differentiate an intelligent trader and an experienced trader. Controlling emotions is part of a trader's experience. it can't just be when we read books as we learn about trading strategies. emotional control will grow when we have enough calm in our trading. and it will influence traders when making decisions.

Experience can't be bought we have to try it for ourselves and it's a process,
the more experience I think traders know what to do according to the conditions at that time,
those who are experts at trading, of course, start from beginners.

[Webetcoins]

Emotions and overconfidence are two things that greatly affect the trading decisions of a person and whether their trades will be good or not will totally depend on that. You can barely find a person who is emotional and is a good trader because their emotions won't let them make good trades and even if they make good trades, they won't be able to take good profits because they get emotional very quickly and tend to sell their assets before the right time.

And those who are overconfident also tend to ruin their trades most of the time because they think that they can time the market perfectly which is not possible at all, so they miss the best opportunities and then sell either at a loss or with very less profit when they could get a lot of profits earlier.

[rozak]

I agree that emotions in trading are of great importance. Perhaps even more than experience, knowledge and the ability to analyze. The ability to respond correctly to news is very important. There must be a balance. Trading and not taking into account the news is a bad idea and overreacting to every news too
The emotional factor is the most important in trading, after receiving the planned result, we want to get even more, and then more, and then everything can be lost. That is why emotions are more important than knowledge and experience. While it should be in balance, without the knowledge and experience of emotional intelligence, it won't be enough.

I believe that the more experienced a trader is, the better the trader's emotional control will be. as well as their skills and knowledge regarding trading strategies and techniques.
everything cannot be learned instantly by novice traders and then become professionals. those who are currently professional traders also need quite a long time to be truly said to be experts in trading.

[jossiel]

I believe that the more experienced a trader is, the better the trader's emotional control will be. as well as their skills and knowledge regarding trading strategies and techniques.

That is for sure because they've got various experiences that have taught them on how to be better in trading. And those mistakes that they've experienced before, they've learned from it and lessening a scenario from it to happen again.

everything cannot be learned instantly by novice traders and then become professionals. those who are currently professional traders also need quite a long time to be truly said to be experts in trading.

There goes a long process and overhaul for those newbies that want to become an expert in trading. Even if you're not aiming to be an expert but just someone who knows the market well.

There is no shortcut in trading and you'll have to endure every pain and disappointment with the losses that's ahead of you.