Post
Topic
Board Trading Discussion
Re: Importance of emotion while trading
by
Davidvictorson
on 08/11/2023, 15:37:57 UTC
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.

Adding to what you have said,
Avoid excessive information overload which comes from trading chat groups, news and these are capable of triggering our emotions thereby influencing our emotions while trading. Secondly, if you have a trading approach, try to simplify it as much as possible. And lastly, let your concentration be on one market only. Focus on understanding the specific dynamics and behavior of that market. It is only when your focus is all over the place that your emotions will get the best of you as a trader.