How to control emotions when trading?

[Shaf]

This is definitely one of the most difficult things to do, as we get greedy when a trade is going out way and fearful when we start losing money in the trade.

However, sometimes it happens that reversals occur immediately we exit the trade and makes us regret, or the price goes down and we've yet to book profits.

The whales and market makers know this and use it well, that's why we have to learn so we don't keep losing to them.

One way to control your emotions I've found helpful is looking at the macro picture or the monthly charts. This helps you know if it's a normal thing or something to take action on.

What ways do you use to keep your emotions in check while trading?

 

[Ithedicious]

The most important thing you should consider doing is that you should try as much as possible to make sure you do not trade what you don't know because if you're trading what you do not know, there is not how you will be able to control your emotion and that is what a lot of people are doing wrongly.

When a professional trader enters the market he will only be able to enter a particular trade based on the observation and indication that the trade will either be bullish for a long position or bearish for a short position . Sometimes along the way the market might reverse, they will be able to see the opposite indication that the market will suddenly turn against them and as a result of these they are likely to exit the market to avoid unnecessary loss.

If you are just going into the market without even understanding anything you are doing , there is no how you'll be able to control your emotion and as a result of this I believe the most important thing you just have to do is to make sure you understand what you are doing perfectly as it is a contributing factors to your success.

 

[sincerem]

Crypto trading should go together with proper risk management. Those who are making profit through crypto trading, especially on Spot, Margin, and Futures are those whose expertise is high, with better risk management. Those who lose money investing or trading cryptocurrencies see those newbies, who don't want to learn, they just want to earn money straight away, which caused them blowing up their trading account. And you'll be hearing crypto is a scam, but they used their own hand to cause themselves suffering scam. Crypto isn't scam, only that we need experience to understand how the market trends works, how to place our trade and st the right coin pair.

Trading out of ignorance isn't an excuse trading cryptocurrencies, it has liquidated a lot of people today, making them suffering from huge losses, in order to make do of the losses and make profit in the future and covering what we've lost, training should be considered. We should seek to learn first, learning from experts is an option, at udemy we can find many of them to hook up with, via a paid course, or look for a professional and experienced crypto trader offline to engage with, learn to trade better.

 

[Suba]

Every trader will have their own way to reduce the mental, emotional or psychological burden that day traders always face, even though there are actually many reasons that can lead to stronger mental and emotional stress when trading, such as the body and mind not being fresh, connection sudden slow internet, consecutive trading losses. Here are some tips that might reduce feelings of emotion, stress, etc.
1. Do not trade when the condition of the body and mind is not fit or fresh.
2. Let go if you lose today, don't hold grudges and tomorrow you have to win.
3. Master the strategy and keep practicing, so you'll know exactly what you're looking for every time you open a chart.