Post
Topic
Board Trading Discussion
Re: 10 Mistakes you should never do in crypto trading✌✌
by
ummart66
on 26/06/2018, 16:02:52 UTC
This is helpful. But can you explain what you mean by "do not trade with your emotions?" How is that possible? Thanks for feedback.

Emotional trading can mean a different thing to different people. In my opinion it's becoming too attached to the coins you've bought. This may cause to to keep buying as the price falls, or to hold onto as the price drops into massive losses for you. Unfortunately this can really only be broken with experience, I'm still bag holding a few coins I should've sold a long time ago, but have been too attached to them.

Other explanations could be 'tilt' from trading. In video games it's easy to get upset after losing a couple games. This may cause you to perform worse, but keep playing because you need to win some. Usually this leads to more losses. In trading it may be easy to lose big on a trade, so you start making risky trades in an attempt to earn your money back. Ideally, you should know when to walk away and take a break and relax. Again this comes with experience, especially because it's easy to think that if you don't make a trade right now you'll lose your opportunity to make the money back.