A brother asked me, how can I control impulse trading? Actually, impulse trading is mostly driven by emotions rather than logical issues with the trading process. For cryptocurrency trading, it is also fatal! Next, based on my past trading experience, I will share several methods to improve my trading self-control, which can make your trading more stable. 🔺 1. Set "trading trigger conditions" to make your entry a bit more "troublesome". Our impulse trading usually has the characteristic of being unable to resist entering the market when we see price fluctuations, especially when we have just lost one order and are eager to recoup our losses. Or if you see drastic fluctuations in the market and are afraid of missing out on opportunities, just enter the market directly. So we can write these points before the transaction: (1) What is the reason for my entry? (2) Where is the stop loss? (3) What is the profit to loss ratio? (4) Does this order comply with my trading system? Only by meeting these conditions can one be allowed to enter. At the same time, we also set ourselves a '3-minute cooling off time'. When you have an impulse to enter, force yourself to wait for 3 minutes and recheck the signal to see if it complies with your trading rules. If it still meets the system standards after 3 minutes, execute the transaction again. Many times, these 3 minutes will help you avoid many unnecessary orders. We also need to increase the 'threshold' for transactions. For example, in the trading plan, it is stipulated that if there are two consecutive losses in a day, a mandatory day off will be taken to avoid emotional trading. Set the maximum daily trading frequency, for example, a maximum of 3 trades per day. If the frequency is exceeded, no further trades can be made to avoid meaningless frequent trades. Remind yourself with an alarm clock and ask yourself every hour: Am I trading according to plan or emotionally? This self reminder can make you more alert. 🔺 2. Reduce transaction frequency and get used to waiting. Impulsive trading is often due to itching, always thinking about "doing something", and feeling like missing out on the market whenever you have free time. But the trading logic of experts is: trading is not about the more the better, but about waiting for the best opportunity before taking action. The following options can be considered: (1) Reduce trading currencies, focus only on familiar markets, and minimize unnecessary trading signals. (2) Establishing fixed trading hours, such as only trading in the European or American markets every day and not monitoring the market all day, can reduce the chances of "disorderly ordering". (3) Give yourself a task: Can you only do 1-2 orders today? Train yourself to reduce the number of transactions and gradually adapt to the state of 'no trading is okay'. 🔺 3. Set a position limit to reduce the damage of impulsive trading. Many times, impulse trading is not just about entering the market at will, but about impulsively placing large positions, and then when the market reverses, the mentality begins to explode. (1) We can set a limit for each position, such as a maximum loss of 1% -2% of the principal per order, and no matter how optimistic we are, we cannot increase our position beyond this ratio. (2) Never increase your position just because you want to recoup your investment. Losses are a part of trading, and if you make a mistake, recognize it. Don't expect to make it back with the next order. (3) Reduce the psychological pressure caused by large positions entering the market through a 'phased entry' approach. 🔺 4. Review your impulsive trades and write down any mistakes. Many people trade for a year, two years, or even longer, but still cannot change their impulsive trading habits because they never look back on their mistakes. Reviewing should not only focus on profit orders, but also analyze the loss orders of impulsive trades. How to review impulse trading? (1) Open the transaction record and mark every impulsive transaction that incurs losses. (2) Write down the reason for entering the market at that time - was it really in line with the trading system, or was it due to emotional fluctuations? (3) Think about what would have happened if we hadn't entered at that time? If you find that 90% of impulsive trades result in losses, you will be more likely to restrain yourself. 🔺 5. Stay away from the screen and avoid staring at the disc with itchy hands. If you always stare at the market and can't help but want to take action when you see a little fluctuation, then you need to learn to "stay away from the market". (1) We set up price alerts and wait until the key points are reached before looking at the market. Don't keep an eye on it all the time. (2) Learn to leave the screen and close the trading software after completing the transaction, instead of staring at it blankly. (3) Developing other hobbies and interests, trading is not everything in life, let yourself have other things to do, such as fitness, reading, meditation, and make trading "less important". 🔺 6. Make yourself a 'boring trader'. You will find that those who truly make stable profits in the market have a "boring" trading style. They are not like retail investors who get emotional every day, but calmly wait for opportunities and execute plans step by step. People who trade impulsively, trading is like a 'casino', and their emotions fluctuate with the market. And true traders, trading is' work ', their goal is long-term profitability, not affected by short-term fluctuations. If you want to become a stable and profitable person, you need to learn to adapt to "boring trading". (1) Write a plan before trading to avoid entering the market randomly. (2) Reduce trading frequency to prevent itching. (3) Set stop loss and position limit to control losses. (4) Review your own mistakes and identify the reasons for impulsive trading. (5) After completing the transaction, turn off the computer and withdraw yourself from the market. The ultimate goal of trading is not to keep you nervously watching the market, but to enable you to easily execute strategies and sleep soundly after making money. Impulsive trading is a psychological battle between you and yourself. Only by winning yourself can you win the market. Encouragement together! To get back to the point, brothers! Just let me continue to be a sand wall Brainless buying of 1 ETH and 0.05 BTC This article specifically thanks OKX, the world's second-largest exchange!