Post
Topic
Board Trading Discussion
Re: Keep proper distance but not losing passion
by
SquallLeonhart
on 08/08/2019, 04:43:01 UTC
I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)
There are so many people that are being controlled by external emotion always, and that is why they are weak and when they go through any bad trade, instead of taking it as a lesson for them to amend and make it perfect, they allow emotion to rule the, get angry with the market and then exit without the intention of coming back, while someone who is good at controlling his or her emotion would see such mistake in trade as a lesson and then use it to better their skill and even if they have to exit the trading market temporarily, they do so with the intention of staying back to go learn the more before coming back to the market to become stronger. This is not only the area where emotion destroys people, there are still so many other areas too, but we just have to learn to control it.