Quote from: Ben Barubal on November 03, 2023, 11:31:37 PM

Quote from: Spark22 on October 22, 2023, 05:39:02 AM

There are many people who trade on BitcoinTalk forums. Those who trade must control their emotions. If not, you will have a huge loss in trading. Why emotion is needed while trading is as follows:

1. Profitability: Profitability in the crypto market is very dynamic and variable. Traders' emotions create interest and excitement about their profits.

2. Volatility: The crypto market is volatile, i.e. prices can change rapidly. Having emotion with this position can help traders as it is important to make timely diagnosis.

Here are some ways to control these emotions:

1. Don't expect much profit. For example: You think that you will become rich by investing in a coin.
2. After you have invested in a coin, you find that for some reason it has gone down in the market. At this time, without being emotional, you first look at the condition of the token, what condition it is in, and then take a decision with a cool head.
3. Avoid revisiting a coin after investing. You place a sell order with a specific target.
4. Trade according to market conditions. Don't immediately invest in someone's words.
5. Stay calm and try to control temporary emotions.

As a trader here in the crypto field, our aim is to make a profit. Now, if you don't have enough ideas here, we can still make a profit while we're still studying it, and we can do something like this by buying and holding it long-term, not short-term.

It is important that we gain knowledge about trading before we jump into the so-called day trading activity. In this way, we can help ourselves become responsible traders if we can also make proper use of our emotions in reality.

I think what OP meant when he said "not to expect too much profit" something like that is in futures trading.

Most of the newcomers in the trading world, wants to engage instantly in futures trading using a very high leverage to gain big profits in a short period of time, but what happens most of the time is the exact opposite, they lose a lot of their money because of their sudden actions without any plans at all. This kind of scenario always comes from a social media post, bragging their successful trades in futures, so some people thought that they could do the same when they start trading in futures.