How to control emotions, prevent round tripping and revenge trading🔥🔥🔥☄️
This applies to traders like myself who has general correctview of the market direction but consistently losing money/profits due to overtrading and emotional decision making.
Binance has several great features that can help you mitigate emotional trading
1. Cooling down feature in futures and margin trading. Here you can disable futures trading /margin trading for predetermined time. I have requested adding options to this as well.
2. You can lock your capital in dual investment plan with very low BTC strike price. Your idea is to prevent you from accessing your capital so you dont trade emotionally. Therefore can choose lower strike price, but the risk is if price goes far lower than strike price then you lose money in terms of USD value.
You can choose either of methods once you make great profits and want to keep it or getting into losing streak and want to prevent revenge trading.
In future Binance will add more features to prevent you from losing money. No other platform has cooling down feature.
