Ninjastic
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Board Trading Discussion
Re: Emotions dealing
by
xSkylarx
on 10/09/2023, 14:28:40 UTC
Quote from: lixer on September 09, 2023, 05:06:53 PM
Quote from: welshhana on September 05, 2023, 10:46:33 AM
Quote from: promise444c5 on September 04, 2023, 09:44:05 AM
Emotions is a weapon used against traders causing them to move out of a trade untimely which may eventually cost them loss.

How to avoid emotions:
  • set up  a TP(take profit) and SL(stop loss) for your trades
  • Stay away from the particular trade
  • Get in some activity that will keep you busy
  • Do your hubby activities at that moment
  • set up hours interval to check your trade
  • watch tvs and Go for walk Smiley

Note:Some of these might not be applicable if you are into scalping.
Trading is pure math. Emotions have nothing to do here
I don't think it's pure math as your trades can actually be different based on your emotions and mental condition. You won't be able to make the right decisions and make the correct trades if you are mentally unstable and vice versa. So, you can't say that emotions have nothing to do here, It's emotions that make someone panic and sell their assets, and it's also emotions that make someone FOMO and buy a token at a very wrong time and lose their investment or a part of it.

Your emotions can always make the best of what you do and it can also ruin everything, so emotions play a great role in anything that you do in life. Those who have control over their emotions will usually get success in whatever they do while others will have to face a lot of failures in life.

Emotions play a critical role in every aspect of life because they influence our decision-making and the way we think. Just imagine you are in a stressful situation. You tend to think quickly to resolve that situation, but you are not looking at the long-term solution, which makes you sometimes make bad decisions. How much more in trading that emotion play a great role in it.

You have a great strategy, it is really proven that it is working, and you have a high percentage of winning if you follow that, but because of emotions, like not having patience on trades, you do not follow your strategy and skip some processes that will lead you to losses. Also, even though you have already reached your daily target, you still continue to trade because you are now greedy to earn more profit, which again can lead to losses.

Emotions are really a big factor in trading, and they decide whether you win or not. That is why other traders are really trying to learn how to control themselves, as that is their number one enemy in trading.