Quote from: MarjorieZimmermanGinger on Today at 04:29:35 AM

Quote from: Iamkizito on January 07, 2025, 04:51:15 PM

Why is Emotional control one of the most difficult things to do while trading!
I'm not really an expert in trading and I know little but a good knowledge about trading, but one of the things that seems too difficult too control is our emotions when trading.
Each time I make profit, I feel like it's all due to my expertise but if I apply the same strategy I also might end up loosing and sometimes I do get carried away and begin to trade with luck and then end up liquidating my funds.
Please how can I go about this , and what technique or strategy seems to be best for trading?

Controlling emotions is much more difficult especially if you are faced with a trade that is experiencing a loss and it is something that is very difficult to control. Emotions usually get out of control when losing money because psychologically we are faced with pressure to recover the loss. To control emotions, trading should not be done excessively and we need to learn trading the right way so that we can control our emotions more in trading.

Relying on luck in trading will actually make you lose more so that is not the right step. Study the coin's moment in the market and see the right time to open an order so you can be much more careful in trading.

In fact, when a loss occurs, a trader becomes overly emotional, and at that time due to mental stress, he makes hasty wrong decisions, which increases the amount of loss. That is why it is very important to first acquire the skill of controlling emotions, but it becomes very difficult for a trader to control emotions when he faces losses.
However, if a trader trades responsibly from the beginning, he will be able to control his emotions. And for this, he must first know all the things about trading well. Adopting the right strategy, setting stop loss and take profit correctly, and always trading with patience, discipline and self-control, and the two best tips you mentioned are "avoiding excess trading" and "learning to trade correctly".
If you trade by following these things carefully, A trader can avoid getting emotional and experiencing large losses.