Cling18
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July 16, 2023, 04:30:11 PM |
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You become a victim of emotion when you don't have a believed trading system or strategy that works, which guides you to know the entry and existing point of each trade. And to tackle this, one should develop a trading strategy around chart patterns because they are technical analysis simplified which tells you the time to get in and get out of the market because of its proven historical performances in the past.
Emotion trading is very wrong, any trader entering a trade just because he feel like Bitcoin is about to fall or rise will lose to the market. If you don't have a trading strategy or have read and understood the chart to determine which direction the market is heading don't trade. If you can't control your emotions, your emotions will control you and make you always enter the wrong trades or the right trades wrongly. Many individual has fallen victim to their emotions because if this. Emotions is one of the things that influence many traders, some professional traders still struggle with their emotions at time but what makes them professional is because they can always control their emotions but as a newbie you'll find it difficult to control your emotions. If we won't be able to handle our emotions during trading, it will be the one to control us and if we trade based on our emotions, we might only create wrong decisions. Trading is a roller coaster like ride of emotions and it will be the biggest challenge that we have to deal with because no matter how effective our strategies are, if we can't be wise in controlling our emotions, we will still fail. Continuous learning and dealing with every market situation could also train us to control our feelings in all yhe trading decisions that we will do. We shouldn't put too much emotions on trading but rather use our intellectual and analytical understanding.
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savetheFORUM
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July 16, 2023, 05:01:15 PM |
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Things that influence our trading decisions basically a lot
sometimes I do my own research and actually this is must be number one when involve money whether trading or investment. But sometimes too I have a doubt in my heart with my current decision. tho at the end my guess was right.
or I watched people on social media they called an "expert" make my decision even blurred
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others. If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
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Unbunplease
Legendary
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Activity: 1806
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July 16, 2023, 06:32:54 PM |
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Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right
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sompitonov
Legendary
Offline
Activity: 1526
Merit: 1168
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July 16, 2023, 06:43:53 PM |
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Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right There is also a lot of informational noise around the audience. A blogger can release videos for 1-2 hours every week. And beat around the bush hinting at growth or fall, but not directly say so. Next week, it doesn’t matter if the market rises or falls, the blogger will utter the phrase “I told you so” anyway. Repeating that he is always right. Or phrases who wanted to hear me. Bloggers who predict the market are still good psychologists, they constantly deceive the audience, and at this time they earn a lot of money on advertising or trust management of these same people.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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palle11
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July 16, 2023, 07:05:50 PM |
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* Emotions in trading Our emotions are part of our human behavior and it has a profound impact on our trading decisions. In the context of trading, the two primary emotions that affect our decision-making are "FEAR and GREED" Fear is a powerful emotion that will push us to think twice about entering and exiting the trade. Sometimes because of our fear of the trade, we exit immediately even though we know that it is too early to do so. And when fear dominates we become overly cautious, which also causes us to miss the opportunity for profitable trade even though we have seen the high probability set-up we should enter a trade but we don't because of fear.
You become a victim of emotion when you don't have a believed trading system or strategy that works, which guides you to know the entry and existing point of each trade. And to tackle this, one should develop a trading strategy around chart patterns because they are technical analysis simplified which tells you the time to get in and get out of the market because of its proven historical performances in the past. I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
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Dr.Bitcoin_Strange
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July 16, 2023, 07:57:29 PM |
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How will you even encounter a loss if you already have a good strategy in place? A good strategy always have an exit plan that makes sure your losses are at a minimum, what I think someone should have instead of emotional control when it comes to trading is discipline, discipline encompasses even that part so having a discipline means you have control over more fundamental things granted you have a good trading strategy in place. @Latviand, Although everyone has their own trading strategy, the combination of all the relevant trading tools, candle types, and use of indicators Every trader has their best indicators and strategies that they feel are able to help them understand the market direction better, which can still be labelled as trading strategies. A trader can also decide to only trade at night, in the afternoon, or in the morning because they believe that's the best time to make more successful trades. All those are strategies that one can derive for themselves. But with your strategy, if you allow emotion to take part in the trading decisions you make, then you will likely encounter more losses than you expected. although everyone is not the same. So if you point out facts, always know that everybody is not the same. One can be very good at something practically, but in theory, they may have poor performance, and sometimes vice versa.
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Ziskinberg
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July 16, 2023, 09:13:27 PM |
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I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
Perhaps, it was the greatest enemy for us but it is usually happen to newbies. This is one thing that we have to focus on how to manage well because even though we have gained a high level of knowledge and skill, and experience but still we can't manage to control this stuff, it was impossible to reach our goal. And I'd never find it difficult if we really wanted to succeed and have profitable trades. In fact, as we can see, a lot of people get into trading and fail and this is because of uncontrollable EMOTIONs.
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molsewid
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July 16, 2023, 09:37:19 PM |
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I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
Perhaps, it was the greatest enemy for us but it is usually happen to newbies. This is one thing that we have to focus on how to manage well because even though we have gained a high level of knowledge and skill, and experience but still we can't manage to control this stuff, it was impossible to reach our goal. And I'd never find it difficult if we really wanted to succeed and have profitable trades. In fact, as we can see, a lot of people get into trading and fail and this is because of uncontrollable EMOTIONs. I think it all happens to all the people, it makes us feel too emotional in every situation in trading. Especially when we didn't even understand the chart very well, a simple dip can make us feel anxious and make us take profit in an instant, we will get used to it as time passes by and it will be better if we learn how to read charts as well so no other influence can affect our trades.
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dansus021
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2023, 01:21:34 AM |
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Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right yes I think most of the trader influencers get their money from membership and courses or training and you have a good point if they make dozen of money from their trade why still need our money. and if they want to help traders out there they should give what information they have into social media like youtube and got money from it rather than sell it
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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irhact
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2023, 08:43:37 AM |
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I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
Any trader that can't control their emotions shouldn't be trading because if you ignore the fact that you have a problem and still be trading, your emotions will make you make decisions that would be destructive to your trades. Emotional traders can't be a successful trader, to be successful at trading they have to learn to separate their emotions from their trade so they can make the right calls on when to exit the market or keep holding. Individuals that has decided to go into the path of trading cryptocurency, you first have to eximained yourself to make sure you can make decisions without your emotions interfering because the market is manipulated to mess with traders leading them to panick buy or sell.
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Litzki1990
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2023, 09:16:17 AM |
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Trading in cryptocurrencies is a very important matter. Trading may seem easy to you but when you trade you will realize how much you already know about trading. Before starting trading professionally, first you need to know about trading. And besides knowing, you have to put it into practice. First by depositing a small amount of money, you need to gain practical experience and risk of market volatility trading, then when you understand these things well, you can continue trading professionally for profit. It is very important to control your emotions in trading. You should never trade with your emotions. One should always keep a cool head and give up one's greed completely. In trading you can follow others but don't apply other's strategy directly, own strategy is very important in trading.
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| | . Duelbits | │ | | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | ██████████████████████████████████████████████████████ . PLAY NOW . ██████████████████████████████████████████████████████ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | |
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Questat
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2023, 12:43:03 PM |
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Trading in cryptocurrencies is a very important matter. Trading may seem easy to you but when you trade you will realize how much you already know about trading. Before starting trading professionally, first you need to know about trading. And besides knowing, you have to put it into practice. First by depositing a small amount of money, you need to gain practical experience and risk of market volatility trading, then when you understand these things well, you can continue trading professionally for profit. It is very important to control your emotions in trading. You should never trade with your emotions. One should always keep a cool head and give up one's greed completely. In trading you can follow others but don't apply other's strategy directly, own strategy is very important in trading.
It is a sort of trading preparation and we indeed doing this otherwise, we never get what we wanted to happen. But it was not just having that knowledge and skill, we also have to learn how to control our emotions as this is a factor that would affect our trades. That is why I have to encourage people to take it slow and never rush because learning trading couldn't be instant and so much more from controlling our emotions. However, I don't discourage people to try and make losses because in this way are able to learn more.
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sompitonov
Legendary
Offline
Activity: 1526
Merit: 1168
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2023, 03:32:37 PM |
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Trading in cryptocurrencies is a very important matter. Trading may seem easy to you but when you trade you will realize how much you already know about trading. Before starting trading professionally, first you need to know about trading. And besides knowing, you have to put it into practice. First by depositing a small amount of money, you need to gain practical experience and risk of market volatility trading, then when you understand these things well, you can continue trading professionally for profit. It is very important to control your emotions in trading. You should never trade with your emotions. One should always keep a cool head and give up one's greed completely. In trading you can follow others but don't apply other's strategy directly, own strategy is very important in trading.
It is a sort of trading preparation and we indeed doing this otherwise, we never get what we wanted to happen. But it was not just having that knowledge and skill, we also have to learn how to control our emotions as this is a factor that would affect our trades. That is why I have to encourage people to take it slow and never rush because learning trading couldn't be instant and so much more from controlling our emotions. However, I don't discourage people to try and make losses because in this way are able to learn more. If the one who is engaged in trading at the beginning of the path receives a loss, this will be a good lesson for him for the future big path. But if at the beginning of the path a beginner earns a rather big profit in the trading, he will think that he is a genius and will always be so. But this will not happen, for some time he will give all his profit to the market and this loss will hit his morale very hard. This will be an expensive lesson. Still, trading is primarily the ability to lose and stop losses, if you do not know how to do this, then trading is not for you.
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Bushdark
Sr. Member
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July 17, 2023, 05:42:55 PM |
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Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right What I have noticed about many of those successful traders is that they normally like to sell courses to newbies so that they can earn from them. The most annoying part is that those courses might not even worth that price they sell to people. This had made me to frown at such mentality to earn money from upcoming traders. There are many free courses and PDF we can get online, even on YouTube to help us improved in our trading journey than buying different courses online to help us improve our trading professionalism when we can get almost related materials for free or with little fee. We need to make good trading decisions for us to enjoy trading or else we are going to lose big from trading and find it very difficult to make profits from it.
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famososMuertos
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LE ☮︎ Halving es la purga
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July 17, 2023, 09:44:42 PM |
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This type of thing should not affect the average person who does business, I think that sometimes they are matrices that arise as a result of the popularity of social networks, creating content.
Professional trading is the one that could definitely be found meddling in such situations, but crypto trading basically needs a premise use money that you can afford to lose and understand that gains are determined in the long run. This is for the common mortals who do electronic commerce, who in reality are the vast majority in cryptocurrency commerce.
Learn to program a bot correctly and invest without fear, doing so avoids this type of influence.
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Hamphser
Sr. Member
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July 17, 2023, 10:22:00 PM |
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Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right What I have noticed about many of those successful traders is that they normally like to sell courses to newbies so that they can earn from them. The most annoying part is that those courses might not even worth that price they sell to people. This had made me to frown at such mentality to earn money from upcoming traders. There are many free courses and PDF we can get online, even on YouTube to help us improved in our trading journey than buying different courses online to help us improve our trading professionalism when we can get almost related materials for free or with little fee. We need to make good trading decisions for us to enjoy trading or else we are going to lose big from trading and find it very difficult to make profits from it. I dont consider for those people to be successful because if they were making huge money on trading then making some ebooks or whatsoever write ups shouldnt really be done something yet it would really be waste of time for them to get a penny if they could simply make tons on trading.Yes, there might be some traders who would really be liking to share up the knowledge but its true that someone couldn't really be able to mimic out on whatever the things that been put up or listed on there. You could really be able to follow on whats written but it wont really be making out assurance that you would really be succeed on this one because there's no way that you could be able to know on what are the other factors which you would be needing to learn which is only possible for it to be acquired through real experience. Lots of things would really be affecting out your mindset on which it would really be altering your earlier decisions.Its common on which its not something new anymore. This is why self discipline and control would really be crucial on these kind of times.
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sana54210
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July 18, 2023, 02:51:23 AM |
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It is a sort of trading preparation and we indeed doing this otherwise, we never get what we wanted to happen. But it was not just having that knowledge and skill, we also have to learn how to control our emotions as this is a factor that would affect our trades. That is why I have to encourage people to take it slow and never rush because learning trading couldn't be instant and so much more from controlling our emotions. However, I don't discourage people to try and make losses because in this way are able to learn more.
That's how a professional trader becomes a professional trader. You can make profit, anyone can make profit, but what you do when something goes wrong matters how great you are. Some of these people literally make profit from being ready when things go wrong, and that's how you become a good profitable trader. That doesn't mean that you are going to end up with something weird, it just means that the price may not go where it should go due to some news. Being ready means countless hours trying to find every angle on something you buy, which will of course change some things and that matters. Not a lot of people can do that, it is going to be a bit of a different approach that changes things eventually, and that is going to be when you need to be ready.
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FanEagle
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July 18, 2023, 02:53:45 AM |
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If you let "things" influence your trading then you are going to be pretty upset about it in the end. I am not saying that you should be ignoring everything, but at the very least make sure that you pick out what is good and what is not in order to consider it a bit different.
I understand that it is going to be a bit of a difficulty when it comes to making a bit of a wrong decisions, but at the end of the day we all make wrong decisions and if you let things influence you then you are going to make even more wrong decisions as well. I suggest keeping it a bit more strict to your research and your own understanding, without having any influence from anyone or anything. This way you will be able to see it more clearly.
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GeorgeJohn
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July 18, 2023, 10:43:22 PM |
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Trading has always been a PvP game with a limited supply. This means everything that affects us as humans also influences us as traders. It has been steadily changing however with AI and bot trading. Those systems have no emotions (tho they are still coded based on human emotions). They have their own weaknesses but the effect they have had on the market is obvious.
You can't trust bot hundred percent because those things are programmed and since its programmed it does not have accuracy, so it's a man made which you can't not be dependable on them, but I wonder while people always emphasise on them mostly recommend them as a useful tools to trade, what you said about their weakness I think you are right because, no bot that doesn't have a disadvantages but many people will think that all bot works perfectly while it's made by human.
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JeffBrad12
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July 18, 2023, 10:47:24 PM |
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If you let "things" influence your trading then you are going to be pretty upset about it in the end. I am not saying that you should be ignoring everything, but at the very least make sure that you pick out what is good and what is not in order to consider it a bit different.
I understand that it is going to be a bit of a difficulty when it comes to making a bit of a wrong decisions, but at the end of the day we all make wrong decisions and if you let things influence you then you are going to make even more wrong decisions as well. I suggest keeping it a bit more strict to your research and your own understanding, without having any influence from anyone or anything. This way you will be able to see it more clearly.
well that actually depends on what really influence your trading decisions, if its just some random emotions, just because the chart doesn't go your way that you get upset and wanna let some steam off your head, then I could simply understand that such emotion affecting trading decision is better to ignore. but if it's coming from some news like for example BNB that gets affected by the lawsuit news then you could pretty much needs to change around your strategy and responds to that things, i could consider it pretty much influencing the trading decision but in a good way. so basically it depends.
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