10 tips to manage one's emotions while trading crypto.

[el kaka22]

The biggest one; why do you even have them? Thats the biggest one, consider why you are having them as the root problem and you will do a lot better. People approach like it's so normal to have high feelings when you are trading but the reality is that you shouldn't have them to begin with and if you are having them then you are making a mistake to begin with.

Try to go down to the reason why making trades causes you to have high emotional periods and then try to solve those in order to trade with no emotions in the future, that would be a lot better. I believe that it's going to end up with something much better and that way you will be making a lot of profits as well. That's just my thought at least, would be different if you ask someone else.

[tjtonmoy]

Thank you for bringing up this matter. Emotion control should be the first priority while learning to trade. This is so important that you need to get a hold of it before anything else. Having control over yourself will ensure the best outcome when learning to trade. After you master emotion control, you can be the best. Because when emotion is taking over your decision, you will make mistakes. You need to be like a robot. Apply the formula and just follow the result. And act according to it. Emotions will affect every analysis if you don't have control over it. So you will face errors and losses.

It was a really helpful post. Hopefully, there are people who will get help from this. And we can do it by just practicing. Once it becomes a habit, you will have control over your emotions for sure. It is important to take it slow. Try and you might fail. Then try again. You are losing too much? Try little amounts to learn first.

[palle11]

Try to go down to the reason why making trades causes you to have high emotional periods and then try to solve those in order to trade with no emotions in the future, that would be a lot better. I believe that it's going to end up with something much better and that way you will be making a lot of profits as well. That's just my thought at least, would be different if you ask someone else.

I believe that emotion is part of trading to a large extent because it is even the emotion that triggers you to make a trade order in the first place, so someone can not trade without a kind of emotion. It is also that emotion that triggers a trader to exit but the challenge there is on newbie who can't control it, they fly in at everything that looks like a good trading position without doing proper check like comparing different timing and indicators for confirmation. So there emotion isn't stable or balanced because they don't have proper understanding towards the spikes that try to push them inside the market. Emotion is important but needs to be stable.

[Maslate]

It's easy to say but it's hard to follow theres a lot of professional traders, some of them manage to gain profit without getting committed to the things they are doing but we cannot deny this emotion sometimes takes a risk to our position, for example, there's a trader live streaming in the internet that he loses million of money while doing live (I don't know if you see this but its spreading in the internet), he didnt make any emotions with that poisition ebcause he knows he over commit and take holding the position even its lower than its support reason why to lose more money, but its a small amount to him because he is an active trader but how about other people do they manage to risk like this or not.

Losing millions may not totally affect him because he knows that he’s earning more than that but for regular traders, they will always be emotional whenever they commit even small losses. That’s the reason why emotions are the best enemy in trading, and by simply following your emotions, trading on the other hand will always lead into failure. The reason why we should never tolerate our emotions when we are on the middle of trading.

[tvplus006]

...Share your perspective!

I doubt that you will be able to follow these 10 points unconditionally, which are certainly correct. And there is one explanation for this, you are a human being, not an insensitive robot, and from time to time events will occur around you that you will have to react to. Perhaps the right decision at such a time would be to suspend trading so that these events could not negatively affect it.

[nelson4lov]

~Snipped

It was a really helpful post. Hopefully, there are people who will get help from this. And we can do it by just practicing. Once it becomes a habit, you will have control over your emotions for sure. It is important to take it slow. Try and you might fail. Then try again. You are losing too much? Try little amounts to learn first.

A lot of traders particularly, newer traderrs often underrate the impact that having strong emotional control and balance does to theie trading career. I know everyone wants to have the cleanest charts with the finest lines drawn but that's not always the case. I've talked to some of the best traders I know and they all implied the same thing and that's the fact that a majority of their trading success can traced back to their mastery of trading psychology. You can have the best analysis among peers and in the market but have a terrible execution due to poor trading psychology. Some traders even so little to no technical analysis but end up winning majority of their trades.

For instance: For someone who becomes really frightened when price takes a slight turn in the opposite direction and take off their trade,  often miss out when price makes a U-turn in their original direction.

[Franctoshi]

For instance: For someone who becomes frightened when the price takes a slight turn in the opposite direction and takes off their trade,  often misses out when the price makes a U-turn in their original direction.

You are right and in the first place, I wonder what the trader comes to do in the market if can't hold emotions when there is a price retracement. Some do exit early even where there is a clear sign that the market is in their favor such as in a market that trends in corrective moves.
Two things must happen when it comes to trading either you win or lose it.

[xSkylarx]

For instance: For someone who becomes frightened when the price takes a slight turn in the opposite direction and takes off their trade,  often misses out when the price makes a U-turn in their original direction.

You are right and in the first place, I wonder what the trader comes to do in the market if can't hold emotions when there is a price retracement. Some do exit early even where there is a clear sign that the market is in their favor such as in a market that trends in corrective moves.
Two things must happen when it comes to trading either you win or lose it.

The reasons why they exit early on their entries are emotions and lack of knowledge because if you just see it as a retracement, then there is no reason why you exit, which is because you are just scared to lose the small profit or your strategy is not working. But again, emotions really take place in every aspect of trading, which is why the way you build your strategy also goes to your emotions.

[rozak]

For instance: For someone who becomes frightened when the price takes a slight turn in the opposite direction and takes off their trade,  often misses out when the price makes a U-turn in their original direction.

You are right and in the first place, I wonder what the trader comes to do in the market if can't hold emotions when there is a price retracement. Some do exit early even where there is a clear sign that the market is in their favor such as in a market that trends in corrective moves.
Two things must happen when it comes to trading either you win or lose it.

The reasons why they exit early on their entries are emotions and lack of knowledge because if you just see it as a retracement, then there is no reason why you exit, which is because you are just scared to lose the small profit or your strategy is not working. But again, emotions really take place in every aspect of trading, which is why the way you build your strategy also goes to your emotions.

that's because traders panic when they see the news in the media or trading plans don't go as expected, therefore traders tend to get out early even if it's a small loss or profit.
but such situations are normal, especially for those who are inexperienced in trading and not very good at planning their trades. after some understanding and experience, I think all will be better.

[Uruhara]

...Share your perspective!

I doubt that you will be able to follow these 10 points unconditionally, which are certainly correct. And there is one explanation for this, you are a human being, not an insensitive robot, and from time to time events will occur around you that you will have to react to. Perhaps the right decision at such a time would be to suspend trading so that these events could not negatively affect it.

So true. Sometimes many things can affect our emotions either from outside influences (environment/family/people around us) or influences from within ourselves (Greedy and such). And sometimes there are times when we cannot avoid the situation. So that when our emotions are not in a stable state as a result of being affected by something. Then it would be better for us to take a break from trading and let our minds rest until our minds become calm.

Never force yourself to enter into a trade when we are having problems in the real world that really affect our emotions at that time. Because trading must be done when the situation is good and when our minds are calm so that we can do good analysis without involving excessive emotions.

[nelson4lov]

For instance: For someone who becomes frightened when the price takes a slight turn in the opposite direction and takes off their trade,  often misses out when the price makes a U-turn in their original direction.

You are right and in the first place, I wonder what the trader comes to do in the market if can't hold emotions when there is a price retracement. Some do exit early even where there is a clear sign that the market is in their favor such as in a market that trends in corrective moves.
Two things must happen when it comes to trading either you win or lose it.

Not confident in their analysis/trade ideas/biases: This also needs the trading psychology to be in place otherwise, the trader in question will either miss out on trades or leave money on the table (closing trades too early).  Everyone knows the market will play a number of tricks on the emotions of traders and the only way overcome this is to be emotionally intelligent and an on-point trading psychology.

When I was still trading actively, it was one of the things I struggled with for the longest of time - Market moves in my direction but I was already out of the trade due to panicking - afterwards comes regret.

[Kelvinid]

Perhaps we can control it because it was us but why do our bad emotions and greediness still exist? We can rip off of that because it was part of our life and human beings have it.

Controlling it is a big challenge to everyone but yes, as long as we are certain of our goal and consistently following it, ain't a problem. What we gonna do is to keep our mind focus on winning and keeping positive because in this way, we are able to overcome fears and uncertainty which is a big factor that affects our mind and will change everything.

[jeraldskie11]

Emotional trading is a type of "trading psychology." According to the research, trading is 90% psychology and 10% analysis. We cannot deny that there are many traders using the same method, but only a few are profitable. When we mention psychology, we mean your trading mindset. You will most likely lose money if you do not use psychology when trading. To avoid revenge trading and trading without a plan, you must study and master psychology in trading. One of the keys to success in your trading journey is your mindset.

[tjtonmoy]

For instance: For someone who becomes really frightened when price takes a slight turn in the opposite direction and take off their trade,  often miss out when price makes a U-turn in their original direction.

This is so true and a common mistake all newbie traders make. Not gonna lie, I was one of them too. I used to get so panicked if my trades go red for a while and I used to act so quickly to close that trade. After that, it felt like I will make a loss again. So I would stop trading for that time. Guess what? after some time the price would move towards green, LOL. This is why it is so important to stick to the rules and give up on emotions while trading.

Beginners always think that their strategy is wrong or they did some mistakes while analyzing. But in the end, it all comes back to their decision making in which emotion plays a huge role. By the time they realize this, they have already gone too far. So learn this first and everything else will come after that.

[Fatunad]

For instance: For someone who becomes really frightened when price takes a slight turn in the opposite direction and take off their trade,  often miss out when price makes a U-turn in their original direction.

This is so true and a common mistake all newbie traders make. Not gonna lie, I was one of them too. I used to get so panicked if my trades go red for a while and I used to act so quickly to close that trade. After that, it felt like I will make a loss again. So I would stop trading for that time. Guess what? after some time the price would move towards green, LOL. This is why it is so important to stick to the rules and give up on emotions while trading.

Beginners always think that their strategy is wrong or they did some mistakes while analyzing. But in the end, it all comes back to their decision making in which emotion plays a huge role. By the time they realize this, they have already gone too far. So learn this first and everything else will come after that.

Professionals are once newbies too or simply all of us did really come into a point on the time we had started on this market on which we are once a noob too on which those common mistakes are really that indeed the
scenario that we are facing on. On this way we do eventually learn up from our mistakes on which it would be causing for us to progress basing up on our knowledge and skills via having those real time engagement
on which it would be accumulating overtime as we do go ahead. Tips and recommendations is something that you could really be able to read up but on the time that you are on the actual field then applying
these things is really that a huge challenge or something that you cant really be able to do easily even if its really easy to advise or mention in out. Emotion is something that you cant really be able to control it out
specially if you are dealing on things which you havent been able to encounter or experience before on which these kind of reactions and things been done is never been that shocking or something new.

[Russlenat]

The biggest one; why do you even have them? Thats the biggest one, consider why you are having them as the root problem and you will do a lot better. People approach like it's so normal to have high feelings when you are trading but the reality is that you shouldn't have them to begin with and if you are having them then you are making a mistake to begin with.

Try to go down to the reason why making trades causes you to have high emotional periods and then try to solve those in order to trade with no emotions in the future, that would be a lot better. I believe that it's going to end up with something much better and that way you will be making a lot of profits as well. That's just my thought at least, would be different if you ask someone else.

If you’ll keep on trading, you’ll eventually discover that high emotions are never necessary in trading because most of the time, if you trade with different emotions on your mind, you will most likely end up in failure and losses. Emotions will only ruin your trades and that’s based on traders experience, that’s why as much as possible, we should learn not to deal with our emotions while we are in the trading process.

[Cling18]

The biggest one; why do you even have them? Thats the biggest one, consider why you are having them as the root problem and you will do a lot better. People approach like it's so normal to have high feelings when you are trading but the reality is that you shouldn't have them to begin with and if you are having them then you are making a mistake to begin with.

Try to go down to the reason why making trades causes you to have high emotional periods and then try to solve those in order to trade with no emotions in the future, that would be a lot better. I believe that it's going to end up with something much better and that way you will be making a lot of profits as well. That's just my thought at least, would be different if you ask someone else.

If you’ll keep on trading, you’ll eventually discover that high emotions are never necessary in trading because most of the time, if you trade with different emotions on your mind, you will most likely end up in failure and losses. Emotions will only ruin your trades and that’s based on traders experience, that’s why as much as possible, we should learn not to deal with our emotions while we are in the trading process.

Trading will give us a roller coaster like ride of emotions because of the market's volatility but we should prioritize dealing with our emotions first or else, it will be the one to control our trading journey. Putting too much emotions while trading would also be the reason for us to create wrong decisions based on what we feel or be too greedy because of too much expectations.
Self-control is necessary in trading. We should focus on our plans and goals and never let our emotions decide for us.
As much as possible, we shouldn't trade if we're not mentally and physically conditioned because that will easily affect our decision making.

[Silberman]

I very much have the interest to be a professional crypto trader at some point in my life, but it should be after I have understood it the way I want. Am well aware of the emotions which hunt gamblers, because I had tried it a few times. Same emotions also hunt traders and it is in the form of Fear, greed, hope, regret.
Although I beg to differ, I have learnt how it is in trying to be wary of such emotions that we become victims of such emotions in critical times.

It helps to give a constant reminder to oneself on how to control such emotions when money/crypto is involved because a loss could be a recurring outcome and not being able to manage ones emotional state could be very detrimental.


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https://tradersync.com/10-tips-to-manage-your-emotions-while-trading/

The best way to not let your emotions to affect your trades is to never bring them to your trades to begin with, by this I do not mean that a trader must become some kind of soulless automaton, what I mean is that traders need to create a strategy that is completely objective and that does not really on their emotions or even their biased views of the market, this way if your strategy tells you to sell then you do it, and if tells you to buy then you buy the asset you were interested in trading, now this way of trading may not seem natural to some, but that is the point as it leaves emotions completely out of every single trade you make.

[tjtonmoy]

Tips and recommendations is something that you could really be able to read up but on the time that you are on the actual field then applying
these things is really that a huge challenge or something that you cant really be able to do easily even if its really easy to advise or mention in out. Emotion is something that you cant really be able to control it out
specially if you are dealing on things which you havent been able to encounter or experience before on which these kind of reactions and things been done is never been that shocking or something new.

This is why we need practice. Practice makes us perfect. In trading, things like this will happen multiple times. We will encounter such things every now and then. But we need to learn from it. That's why we should always start with a low amount in order to learn. When we learn to lose small amounts and move up the stairs, big losses won't affect our emotions that much. Also, it will help us to manage our risks. With this, we will be able to minimize the loss. It's all about time. In time, we learn step by step. But emotion control should be the first priority. It's impossible because the pros are already doing it.

[lixer]

Sometimes, emotional instability is also caused by very high expectations. Especially in Bitcoin investment, many people only see other people's success from investing and in the end they hope to be like that too. but in fact, investing is not as smooth and smooth as that, especially investing in Bitcoin which incidentally is also risky. There are times when the Bitcoin market drops suddenly, and if expectations are too high but you suddenly see the market drop, without having other balanced and good emotional management, then this is enough to create panic and eventually cut loss, which will have a negative impact on their mindset regarding investing in Bitcoin.

because of that, it is true that emotional management is very important in investing in Bitcoin or in other fields. because this is one of the keys to maintaining how our investment plans are too.

These people may not know that what they saw online are mostly fake. It was only a kind of bait for those people to sign up under the poster and the poster the ones who will get the benefit the most. For those who are legit success stories, we can use them as a motivation to improve our lives as well (if it isn't yet) but we should have our own goals too because not all people are the same.

Some only has a smaller capacity and wanting to have more may not really be possible for them anymore and that can cause them a disappointment. Many people say that investing is easy but you're right that they are wrong. It is boring and then so many factors can come which can affect our focus.