Quote from: shitcoinballer on June 10, 2017, 10:58:36 PM

Thank you for the reply. I will check out that website and try to focus more on paper trading until I can figure out a winning game plan and stick to it.

I know your last advice about not letting emotions get in the way is sound advice. It sounds easy on paper but admitting you are wrong on a trade and taking a loss is one thing I struggle with now. Hanging onto losers has eaten more of my profits than anything.

You are right, and emotion can also cloud judgement in other ways too... for example, emotion could cause you to do the exact opposite in a situation where you really should not be taking a loss. Personally I run into that situation more often. Sometimes you will buy something because you determine that it is undervalued and you are pretty confident that its true value is higher than its current price. The price may still go down in the short term for whatever reason, and this can make you feel like you need to sell in order to prevent further loss when in reality, if you look at the situation objectively, you might be better off holding in hopes that it will go back up... or even doubling down on your original trade. I've been in situations where this happened and I doubled down as my loss started to increase, and ended up coming away in the end with a large profit as the price went back up to where it should be based on the asset's value.