How Emotional States Affect Trading Losses and Profits. 😧📉
Did you know that the emotional state of the trader directly influences deposits and withdrawals? As well as buying and selling decisions.
Even if the best strategies are implemented losses can happen if and when a trader expresses negative emotions or fears. The best trading instruments and graphs depend on the emotional stability of the trader at any given time.
How self-assured and confident are you as a trader?
We always hear to try to keep our emotions stable, but I also think a confident trader is in a better positive to control their emotions.
How much do you mentally expect to win?
Are you always prepared to succeed with your trading goals?
I've seen some traders that have allowed success to cloud their judgement and allowed excitement and high emotions to get in the way of their next trades. Beginners carefully stick to their trading rules and fundamentals of trading however that can soon be eclipsed after a few wins and losses.
How do you keep your emotions stable after wins or losses?
This may be something only you have the solution to.
I think a Trader who is either naturally confident or works on himself through personal development can trade successfully in spite of losses and external setbacks.
Do you have a your own personal Trading Playbook or Diary?
I believe this helps to keep track of successful trades and unsuccessful moves. To know if and how your emotional states effecting any trades. To be able to analyze yourself and your strategies when trading helps to minimize future mistakes and allows you to improve mentally and strategically.
In addition, looking back to see how far you've come, how you've gained experience and lessons to keep trading successfully and confidently. I've done more than my fair share of soul searching as well as researching ad analyzing prices and coins.
I think ongoing personal development is key to profiting from digital currency trading. The markets can be volatile, but that doesn't mean we need to be.
Be the calm in the storm!
Thank you for reading this post because I hope it is helpful to increase trading profits through awareness of emotional states, mentality and keeping a diary or playbook of trading activities to get better and better.
If you think this is a helpful post for beginners to the crypto currency space, would you please upvote this because it will help me share more insights to success and profit with digital currencies.😋
All my hopes and dreams.
