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[AudraMiller]

One of the most important skills to have when trading in cryptocurrency is to be able to control your emotions. This ensures that you do not panic buy or panic sell any of your cryptocurrency coins. Typically there is a drop in the price of any cryptocurrency at any given point along the course of that cryptocurrency being traded. When you panic you tend to sell the coin prematurely and as a result you make a loss. What tactics do you use to try and prevent panic trading?

I personally set myself goals on a target price i want to sell at, or buy at, and stick to it, based on my analysis. This way despite how i am feeling, i don't do these transaction until these predefined markers are met.

 

[funkymoney]

all the exchanges casinos and sports betting websites play with the emotions of the users. you need to have patience and not get the emotions to get in between your decisions. One such decision can become a habit and you can lose it all in a day what you have earned every day in that month. The main lesson is to have patience and manage your bankroll properly and when there is a sign that your decisions are getting affected take a break

 

[Wisdom01]

If you are a professional trader there is no need for you to worry too much about the panic sell and others ,because you are sure that you would still make gains or break even ,just learn the trade well

 

[AudraMiller]

If you are a professional trader there is no need for you to worry too much about the panic sell and others ,because you are sure that you would still make gains or break even ,just learn the trade well

As a professional you have the necessary knowledge that is required in order to try and manage your portfolio and at the same time if you make a loss from one coin you are profiting from another coin which can offset the loss. Therefore there is not much panic that sets in. However with new investors, they tend to stick to few coins which is moe dangerous.

 

[Manish200]

Not just in crypto currency trading but in all sorts of trading, it's really important to get a hold of your emotions. Having patience is really important. I always kept strict guidelines while trading. You can't afford to let greed get the better of you. Trading is like a job and you can't expect it to make you rich overnight.

 

[Razor1911]

all the exchanges casinos and sports betting websites play with the emotions of the users. you need to have patience and not get the emotions to get in between your decisions. One such decision can become a habit and you can lose it all in a day what you have earned every day in that month. The main lesson is to have patience and manage your bankroll properly and when there is a sign that your decisions are getting affected take a break

The mai emotion that we must know how to deal with is greed. Our greedy mind makes us to do terrible things. Whenever we are dealing with our money, we must always trust our mind and should try to focus on the situation rather than flow away with emotions.

 

[Wisdom01]

As a professional you have the necessary knowledge that is required in order to try and manage your portfolio and at the same time if you make a loss from one coin you are profiting from another coin which can offset the loss. Therefore there is not much panic that sets in. However with new investors, they tend to stick to few coins which is moe dangerous.

Well i think that most of those traders that are professional don't just sell off like that. They still hold because they feel the price would still improve again

 

[Mwansa Mwila]

Lesson learnt. In trading crypto, One needs to be patient, set goals and look towards attaining those goals. Do not let emotions get over

 

[LutherKing]

its very simple , patience is the name of game , if you have it you can win from any situation , be sure to not ouch your portfolio ( investment ) first 30 days and keep increasing it with your patience

 

[Kennysplash]

If you are not strong emotionally then you should not venture into crypto currency trading. You might suffer financially and emotionally. Discipline is needed in trading, and that is what emotionally weak one lack.

 

[amgad100100]

The problem with all traders even with me , sometimes i can control my emotion and sometimes i can't . That not only with Crypto but with Forex , binary option , ........ etc .

 

[AudraMiller]

Buying and trading cryptocurrencies can be an emotional experience. It's fast-paced and there are lots of different kinds of trades and purchases to make. Some people try to make money off the volatility of cryptocurrency prices through short-term day trading. Others are looking to hold long-term investments and hope the cryptocurrencies they buy will be a store of value.

I think that finding a balance between teh two is great. Whilst you can make a good profit on a long term trade, having a short term trade will result in much faster and higher profits if you know how to.

 

[dorcasy]

One of the most important skills to have when trading in cryptocurrency is to be able to control your emotions. This ensures that you do not panic buy or panic sell any of your cryptocurrency coins. Typically there is a drop in the price of any cryptocurrency at any given point along the course of that cryptocurrency being traded. When you panic you tend to sell the coin prematurely and as a result you make a loss. What tactics do you use to try and prevent panic trading?

I personally set myself goals on a target price i want to sell at, or buy at, and stick to it, based on my analysis. This way despite how i am feeling, i don't do these transaction until these predefined markers are met.

Since when I started trading cryptocurrency I realized that emotion is a very vital factor when it comes to taking trade or staying long on a trade.
This is pertaining to future and margin trading.
I always make sure I study the market before entering and if I lose I gladly accept it than to feel regretful and start opposing my strategy.

 

[btaliat]

One can not be called a good trader except he knows how to manage his emotions while trading. Every trader is always faced with the majorly fears d greediness. These two emotions can only be solved if the traders only trade with the money he can afford to lose, has the knowledge of risk mamagement and he's disciplined financially.

 

[Styleplus]

It's not enough to just start trading after drawing your trend lines and determining your entry and exit point, you need to be versatile in handling emotions.
Emotions is one of the weakness of traders and many of them that fall victim of failing in trading owe it to emotion.
If you take a trade, stand by it,if you win or lose accept the outcome.

 

[Balint098]

You can read some psychological book to help maintain your emotion during stressful moment during trading. Alternatively, you can also stop trading whenever your emotion starting to agitate too much. Continuing trading under stress or unstable emotions will eventually lead to traders losing money.

 

[Wisdom01]

One can not be called a good trader except he knows how to manage his emotions while trading. Every trader is always faced with the majorly fears d greediness. These two emotions can only be solved if the traders only trade with the money he can afford to lose, has the knowledge of risk mamagement and he's disciplined financially.

Very true ,once trading with the money you can afford to lose ,I actually don't see anything the person would be scared of , because he knows that if he lost the amount of money he won't lose that much, so emotions won't be a big problem to him or her when it comes to the person controlling it

 

[btaliat]

Very true ,once trading with the money you can afford to lose ,I actually don't see anything the person would be scared of , because he knows that if he lost the amount of money he won't lose that much, so emotions won't be a big problem to him or her when it comes to the person controlling it

But it takes few traders to trade with spare money. Not because of anything but because they want to make it bigger once. They don't want to be satisfied with making little profit. I have a friend that always trade with much money. He believes that it is either he makes it big once and for all or he fails.

 

[Wisdom01]

But it takes few traders to trade with spare money. Not because of anything but because they want to make it bigger once. They don't want to be satisfied with making little profit. I have a friend that always trade with much money. He believes that it is either he makes it big once and for all or he fails.

Actually you are right , because some think that for how long would they keep making loss ,so they prefer to earn profit , but the most important thing is to make sure ,he or she is very good in trading ,so that he or she don't trade in the wrong way and make or accumulate more loss,just because he want to invest all his money

 

[btaliat]

Actually you are right , because some think that for how long would they keep making loss ,so they prefer to earn profit , but the most important thing is to make sure ,he or she is very good in trading ,so that he or she don't trade in the wrong way and make or accumulate more loss,just because he want to invest all his money

So you really believe we have good traders? I don't believe it. I am very sure that those that predicted the bitcoin price for this year to be $100,000 are very good traders. And now, it is not possible for the price to be fulfilled. We can only speculate as everything is based on probability and not being good at trading.