How to Control Trading Psychology?

[Ralphjoe]

For a Bitcoin trader to be successful, he has to be able to control his mind or mental state, most traders always panick when they see that they are loosing due to a drastic fall in price of their portfolio, this most times drives them to hurriedly sell off their asset. The best approach a trader should use in such a situation should be locking away their asset in the wallet, never checking it but only checking it when their targeted price has been achieved.

 

[Hasan Raza]

As far as trading goes, you are your worst enemy. If you fail in most cases you fail because you made the wrong choices. Its not the market that is treating you badly, and you cant really blame it on imaginary concepts like luck (plus, lets face it – you will never be a successful trader if you think that the way to your goal goes through “luck”). In the introduction we said that psychology was very important in trading.

 

[Ehtisham memon]

That's a good tips for us every person whose known about the bitcoin and crypto currency psychology distrube everyone want to earn this currency thanks for info about the currency how to mantel and brain distrube

 

[Chief]

Trading psychology plays a very fundamental role in marketing because everyday there is an exponential increase in our markets, thus we need to be strategic with the manner in which we brand our products and present ourselves to potential customers.

 

[kayode10]

One of the easy to have control over your trading psychology is to have an existing strategy. Existing strategy is the limit you place on your trading no matter how easy to make profit with the trading. This prevent you from being run over by your emotion and avoid losing money when the market turns south.

 

[Bilal0087]

If we read the theory of how to control trading psychology it seems very simple and easy, but if we practice it in an atmosphere of trading Bitcoin on an exchange, it's not as easy as we imagine, even Bitcoin traders experts often get losses due to poor trading psychology. There are many factors that must be considered, such as, Discipline Against Trading Plan, Don't Be Greedy, Don't Get Revenge and Eliminate Doubt / Fear. What do you think, how to control trading psychology.

Trading is not an easy task, I have lost my $15 while trading with Bitcoin.

The only thing that matter is practice and experience because practice makes a man perfect, and only experienced persons can get huge profit by trading.

 

[BrolySSJ]

I think the key thing is your ability to separate emotions from your trading decisions. While this may seem like a difficult thing to do at the beginning, when you have mastery if it it comes a lifestyle. Successful traders have been able to take charge of their emotions to get to where know you have gotten to.

It is a practice that people need to learn to be able to do so. But at the same time the emotions that we have can also help us in determining our limits. They can be the result for major losses but when you bring emotions into the game it can be a sense of when you feel that you should stop in terms of the trades that you are making and so forth, but then again these decision should be determined prior to a trade instead to try and avoid having to think in this pattern while trading. Do you think emotions have any benefits at all in trading?

 

[Lyrrex]

If we read the theory of how to control trading psychology it seems very simple and easy, but if we practice it in an atmosphere of trading Bitcoin on an exchange, it's not as easy as we imagine, even Bitcoin traders experts often get losses due to poor trading psychology. There are many factors that must be considered, such as, Discipline Against Trading Plan, Don't Be Greedy, Don't Get Revenge and Eliminate Doubt / Fear. What do you think, how to control trading psycholog

the only advice I would like someone to take from this your write-up that will help them in trading is that don't be greedy and don't be panic to sell your coins because the price is actually coming against you just be patient in every trading you enter.

 

[giddy]

Market psychology is the mood of the marketparticipants at any given point in time. Greed, fear, and excitement can all contribute tomarket psychology. Conventional financial theory assumed that prices were always based on rational considerations and failed to account for the impact of market psychology.

 

[Chris]

In summary...
Get a job and overcome most of your trading psychology issues instantly.
Backtest your strategy and gain massive confidence in your trading.
Use the Star System and improve your trading results.
Be rich — NOT act rich.
The Matrix Technique — detach yourself from the outcome of your trades.

 

[Nomad]

If you want to profit from trading, you need to remember one basic rule, do not panic sell. For example, you bought bitcoin when it was $40,000. Over the weeks, the price rises and reached $50K, IN case the price drops to $48,000 the very next day do not immediately sell. Wait for the next rise.

 

[Alexandoy]

My take on trading is the greed factor that whenever the gain is growing the more the trader (or investor) becomes greedy. One investor I know sometimes borrow money when there is a bearish run so he could buy more crypto coin of his choice. He is gaining good profit though.

 

[HayKay]

Bro I'll say it's easier said than done, I remember when I was trading Binary; I made some resolutions that I'll stick to. But I found out that it was extremely difficult to keep to those decisions.
One way to control it is keeping your distance or walking away when you make losses or even profits

 

[Hena101]

Knowing when to exit a trade with profit or small lost is the simple way of controlling your trading psychology because it can help you minimize lost and maximize profit.

 

[mcjerry]

There is no one that can not loss his trade no matter how good the person is good in trading. A good trader most have a good psychology towards trading because this will help to reduce risk in trading

 

[Elfinito]

I believe the first thing is to follow your instincts and believe in yourself.
Control your greed and never want to get rich at onces

 

[Kelly5]

When you're on the Trading floor of the cryptocurrencies exchange platform or market, you should always keep aside your emotions and stick to the analysis you're making on the market before you trade

 

[Senator]

When your are about trading the cryptocurrencies market or the forex market for that matter, so not attempt taking any trade at all if your mind is not in that trade because you will fail

 

[Sotherefore]

When your are about trading the cryptocurrencies market or the forex market for that matter, so not attempt taking any trade at all if your mind is not in that trade because you will fail

To me all these things boils down to technical and fundamental analysis because this will give you an indication of when to exit the market and when to enter you will also be able to know when the price of cryptocurrency is crashing

 

[akinlolu99]

Utilizing exchanging brain science speculation can not be overemphasized because of the manner in which most Investors typically lose their cash in exchanging. For you to conquer your dread in exchanging most particularly in stock and crypto exchanging, you need to control your feelings and realize when to leave an exchange with great benefit.