How to Control Trading Psychology?

[kinqzbitz]

First of all minimize the colors you use while trading because they have an effect in your psychology,then try to always not get distracted when you start trading by external factors

 

[Seno inyang]

Identify personality traits. Create a trading plan. Conduct research.

 

[Justin]

As a trader you should know which coin to buy, when to buy, how long to hold and when to sell off. If you do not know this and if you cannot make correct predictions, you cannot become a teader.

 

[Thinker009]

I think one way to control your trading psychology is to actually make sure you don't revenge the market , because if you can't control your emotions , trying to revenge would make the person more loss

 

[Toyoabasi]

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.

It is important for every bitcoin trader to know about this trading psychology. This will checkmate a lot of losses. Traders should be able to have self control against greed and fear in order to be able to trade well.

 

[eLdavis]

Set a standard for your self, whenever you experience loss in trading, instead of trying to gain back what you have lost at that moment, it would be best you take a break and clear your mind before going back into the forex market. This is where many traders fail.

 

[greenie]

This is refers to the emotions and mental state that help to dictate success or failure in trading securities. Moreso, it can be as important as other attributes such as knowledge, experience and skill in determining trading success.

 

[Kaffyfolla]

Setting Rules. A trader needs to create rules and follow them when the psychological crunch comes. Set out guidelines based on your risk-reward tolerance for when to enter a trade and when to exit it. Set a profit target and put a stop loss in place to take emotion out of the process.

 

[tyrim88]

One thing i have come to understand about the issue of trading in the crypto or forex market,is that one should have a target of what he wants to acheive for the trading period,and once that target has been reached,yoy just stop.One should be very discipline to follow this through to avoid losses.

 

[Busybee]

To gain good control over your emotions, start with a very insignificant capital. It should be so low that you won't mind losing it altogether. From there study, educate yourself and make some trades learn from your mistakes. See how you react when the market goes in a certain direction. Once you get hold of yourself then you can trade with increased capital. You would gradually win over your emotions. The best way to learn to trade is to actually trade. Get hands-on experience and conquer yourself.

 

[Ononivami]

It seems you the poster is a Full-time trader because he has really explained the nitty-gritty of the trading psychology. It will be very nice if we could look into the trading gimmicks.

 

[tyrim88]

I think one way to control your trading psychology is to actually make sure you don't revenge the market , because if you can't control your emotions , trying to revenge would make the person more loss

I think that is one aspect that most traders have not really understand about the trading market,because there are times you will be having a loss trading and instead of stoping and refreshing you will want to continue to recover lost ground,that s where the majors loss would be experience.

 

[Genie01]

Trading is largely a psychological game and if you are not strong psychologically it is best you avoid Trading.
This psychological aspect can be learnt with time and practice

 

[UsmanAmoyo]

It is the psychological aspect that makes it difficult to learn forex trading, allot of beginners still grapples with those issues. And it takes time to master that aspect of trading.

 

[Sincerem]

Anyone that is coming newly into any type of trading, be a forex trading or crypto trading will mostly be affected by the psychology of trade , the fear of losing will definitely set in. That is why trading of demo account is completely different with trading of Live account.

 

[Prince]

Setting Rules. A trader needs to create rules and follow them when the psychological crunch comes. Set out guidelines based on your risk-reward tolerance for when to enter a trade and when to exit it. Set a profit target and put a stop loss in place to take emotion out of the process.

 

[tyrim88]

Setting Rules. A trader needs to create rules and follow them when the psychological crunch comes. Set out guidelines based on your risk-reward tolerance for when to enter a trade and when to exit it. Set a profit target and put a stop loss in place to take emotion out of the process.

That is what most traders and investors usually fail to do when they are in the market,in learning about the market,it is not only the technical aspect you will learn,you will learn about contentment.

 

[Genie01]

Trading is primarily a game of psychology and you could improve your psychology by making a clear journal of your trades and revisiting that journal from time to time.

 

[Gandiba]

Try and separate emotions from your trading. This is actually the best way to go about things.

When you are able to do this , making decisions become easier.

 

[Smiles20]

Having a good day trading psychology is one of the best things that can happen to you in the market. The highlight of everything is that you should not be too greedy and you should not be too fearful.