Post
Topic
Board Trading Discussion
Re: Emotion and Trade?
by
xSkylarx
on 18/07/2023, 08:41:35 UTC
Emotions in trading is like water and oil, they don't mix well. If I've learnt one thing in this space it is patience. First you need to refine your analysis skills, master the skill of trading, employ patience and eschew emotions because it can alter your decision-making. Most traders today resort to using bots not because they lack the skill but because they can't trade without emotions, so consider AI grid trading if you find yourself in that category, maybe Bitget's AI Grid trading for a start
Virtually all traders had in one time or the other traded with emotions although it has a limit. If we know what we are doing and we have a tutor like a guidance taking us through the journey of becoming a good trader, it is very important that we encourage ourselves and work on emotion whenever we enter into trading.

 Trading is something we must be disciplined about or we might lost the focus and the strictness to trade in the right way. If we are not too calm as a trader, we might be taken over by the spirit of greed which will make us see trading like an opportunity to make quick money and like the market. If we have that kid of mentality, we might become a loser.

Controlling your emotion is very important as it will define how successful you can be when taking part into this business, trading is more on patience and with good handling of such emotions will give you a good chance of letting the market to move accordingly, as long as you are aware with how the market might turn and you are anticipating good bounce with your position, patience will continue to allow you to wait and see the right outcome that you set up with your trading investment.
I can relate to not being patient before because you know the feeling when you place a trade and you want to close it as it is not a loss or a small profit because I tend to have problems controlling my emotions and tend to overthink, like if this will go more, I should close it immediately. That is why patience is really a virtue mostly in trading. Planning the right moment to hit the trade makes you earn more profit on that entry.