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.
6. Dont be too optimistic
7. Dont anticipate positive results
8. Dont really make yourself that too confident on your trading positions
9. Having a selling point or buying point
10. If you do have a losing trade then learn from it then move on
Emotion is really that indeed a huge factor when dealing up with trading on which this is something that could really affect you greatly if you dont really have that kind of self control.
You would really be able to hardly be able to control yourself if you dont have that kind of discipline or moderation on things that you are dealing with.
Experience does count because the more experience you do have the more control you could be having.
It is really just that there are people who cant really be able to control themselves on times that they do encounter some tough situations.
Its inevitable but once you do able to have a good grasps on something then it would really be just that fine.