Quote from: WickCrypto on September 29, 2019, 09:23:55 AM

Quote from: pundit on September 28, 2019, 02:39:25 PM

I think the most common factor to control emotions in any type of trading is to pre plan the trade first and manage the trade as per plan only. Suppose you buy Bitcoin at $8K and take risk till the price $7500 and target your profit at $9k so whatever side is hit, you will always be prepared for it. Even if BTC crosses $10K it will not make you regret to be in trade as you had already meet the target. By planning a trade properly and execute it as per plan makes you a professional trader.

This is very well said. Having a plan like this and NOT deviating from it is the key. You need to know before you start the trade what you're willing to risk and what you're going to take out of it potentially. If you place the buy without knowing your sells - you are in for an emotional ride..

With those plans, I think we can follow the market everywhere the market wants to go. But the most important here is controlling emotion which not every trader can do. When you can manage your emotion in trading, I guess that it will easy for you to solve every problem you might get in the future. But to control emotion will not be easy as it says because it needs strong power to do that. You have to realize emotion will take part in the trading.