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.
Very true in trading one should always be patient enough to not close a position with little profit. Sometimes traders close a position due to being inpatient and they earn far less profits due to their own emotions because if they let the trade going for some more time then they could earn a lot more profits from that trade.
It's always preferable to speculate an open position for some period before closing it, and one should always try to wait for the proper timing to earn better profit from a trade. Fear and impatient behavior are the enemies of traders and if a trader really wants to earn a lot of money then that trader should always learn to control those emotions.
All matters with your target or selling point because not all would really be that the same when it comes to their selling or buying point when the price hits up on a particular range on which it would really be just depending whether you would really be acting out on basing on what you have done earlier whether taking profits or hold up your position or wouldnt really be caring at all since you are really that going after for long term.It is true that emotion is one of the biggest factor on which it could really affect someone when it comes to decision making and since we are dealing on a market on which its price is really that truly unpredictable
on which its never been that shocking nor surprising that people would really be sometimes to be that impulsive when it comes into their decisions towards their trading.
If you are really just that starting up then you would really be having that kind of common problem on which you would really be altering out your plans or analysis just because of certain common factors along the way.
Unlike when you are that experienced already then you do really know on what you should gonna do on times like this on which it would really be just that common on what you should gonna take or
on how you would really be reacting on.