Post
Topic
Board Trading Discussion
Re: Keep proper distance but not losing passion
by
omonuyak
on 08/08/2019, 07:51:54 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)
In July, over confident makes me lose over $300 though I later make it back. I hardly depends on external factors but last month I was reading some speculations on Twitter and I became very confident that bitcoin is going down until in three minutes it recovered from $9325 to around $10,500 and that makes me force the trade to close. Currently I am seeing the same thing play out again and it is clear that we are going to see more of news and speculations this days as par what is next.