My trading constitution. - page 5. | Bitcointalksearch.org

teosanru

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.

Trading gives you money, in order to to protect your money risk management is paramount.

No but i think it works vice versa as well. You won't be able to build a profitable system on day 1. You'll have inconsistent gains, you'll lose, you'll be quite indisciplined and yet you'll have to keep that 90% psychology correct for you because only that is the thing which will work for you and take you places and it's the only thing that can help you build the system as well. So the money that you'll get is obviously because of psychology that you once made.

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Quote from: palle11 on May 07, 2023, 08:47:37 AM

Quote from: Kara3 on May 07, 2023, 06:51:15 AM

- you can't be disciplined without a profitable system.

How do you mean by this maybe you need to explain on this Being disciplined IMO is not about having a profitable system because you can be loosing while being discipline as losing can also be temporary.

Well I think the discipline comes more even and faster when the losses are more or am I missing out on something?
There is this saying that if you want to taste the discipline of a man, he should be given money and power a d I think same also applies in this case and if you really want to see how committed on is to its system l, I think the losses has to come very often and then you can judge because I'm 85% sure that many persons will abandon their almighty profitable strategy the moment the losses are getting too much but it takes only the fateful to be committed to their strategy in losses and not just losses but rapid losses.

Quote from: Bananington on May 11, 2023, 03:40:05 PM

Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology,

A psychologically strong individual with any or very little skill in trading will still not be successful. Trading requires psychology and skills, but skills most importantly.

Exactly and I also wondered as much as I think 90% is way too much to push to only psychology because i think skill and also trading capital has alot of role to play in trading aside just psychology.

Bananington

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology,

For something like trading, that a lot of skill is required, 90% is too much for psychology alone, and 10% is too small to quantify the amount of skills needed. Even traders who have very little knowledge and skills are not advised to start trading on a funded account to prevent blowing up the account, just to show that skill in trading is very important. A psychologically strong individual with any or very little skill in trading will still not be successful. Trading requires psychology and skills, but skills most importantly.

irhact

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.

Trading isn't 90% psychology, trading has nothing to do with phycology. To be successful at trading you must learn how to trade practically, it can't just come from observing people like how they behave or trade. You have to learn how to understand charts yourself. Becoming a successful trading require you to be dedicated and disciplined, without this habit you won't succeed.

All successful traders are good at risk management and protecting their profits. If you aren't good at those and you're not interested in learning then trading isn't a profession you should try to learn. Trading isn't complicated and can be learnt, you just need to have patience.

ethereumhunter

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It is very difficult to control emotions when trading but that is what we must do to succeed. Money risk management is needed in this case so that we don't exceed our set limits. And we also won't use all our capital to go all-in because the movement is good. And as long as we can deal with the emotions that can come up suddenly, we won't be affected by what's happening in the market so we can trade well. But all of that takes time to have good self-control in trading.

Blowon

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading gives you money, in order to to protect your money risk management is paramount.

it is very influential on psychology because in trading at the emotional level a person can be unstable in a state of wanting to buy, hold, to sell, of course there are things that make us tempted to do that for the sake of big profits, but our impatience and insecurities make it all not real and change be a loss. emotions must be controlled in trading it is quite necessary.

death69

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Trading's a mind trip, no doubt. Emotions, thoughts – they sway our decisions. It's like juggling logic and feelings. But here's the deal: we can't ignore the big role of a money-making system in trading.

A cash cow system? It's our success roadmap, showing us what works best. It's like our loyal sidekick, pumping us with confidence, keeping us on track, and making us disciplined. With that system, we hit the market with a winning attitude, backed by a solid game plan.

And risk management? Super important. It's like a tightrope walker's safety net, keeping us safe when things get wobbly. By acing risk management, we tackle trading with smarts, shield our bucks, and boost our long-term success. Amazing!

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Quote from: vanesha on May 11, 2023, 03:53:07 AM

because it has to do with money. of course psychology here is very important so we have to be able to control our emotions during trading, if it fails it usually affects our decision to buy which coin in what conditions at the time, most people trade with emotion or greed leading to losses compared to people trading with focus even if they only do several trades a day.

Those traders that can't help themselves but get attached to their emotions are the ones that are losing more. Everything that you think about it that affects the results of your trades can really exist based on how you want it to be projected with your trades.
Yes, there's the psychological effect with those factors and points that we think of but then, it all combines with the emotions that we're putting on it. If you're too emotional and you're still new in trading, you're at greater risk of losing all that you've got.
But that doesn't stop there when you experience losses, only the losers quit but learners will keep on learning from those losses until they win.

348Judah

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

Bitcoin trading is profitable quite alright but should we also act in disguise wheb we receive the other experience aspect of trading bitcoin when we are running on loss and loose confidence? the two must ve involved and balanced that eve when we fall, we can rise up multiple times and recover.

Quote from: Kara3 on May 07, 2023, 06:51:15 AM

- you can't have consistent gain without a profitable system.

If someone tells you about a particular profitable system in place then it's a lie, you have to create time and discover yours a d see which system or trading strategy best fit in for you.

Quote from: Kara3 on May 07, 2023, 06:51:15 AM

- you can't be disciplined without a profitable system.

Are you saying your disciplined acts relies on how profitable you're in trading, for me that's bot good enough, we need to main a constant and disciplined lifestyle in trading, that act of being disciplined is what attract us more closer to a profitable investment or trading.

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because it has to do with money. of course psychology here is very important so we have to be able to control our emotions during trading, if it fails it usually affects our decision to buy which coin in what conditions at the time, most people trade with emotion or greed leading to losses compared to people trading with focus even if they only do several trades a day.

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Quote from: GeorgeJohn on May 07, 2023, 10:09:12 AM

Trading doesn't give money when you don't know the rudiments of Trading, many people has been handicapped financially today because of trading due to what they had in mind before coming to trading is to make millions, but that's not how trading works, because you make profit in trading you most have known the necessary scopes related to the conditions and the timing before you can as well venture into Trading, with what your concept implies it pointing that trading is not risk business, while in trading two things are involve, either you end up on the disadvantages aspect of trading or the advantages aspect of trading. But when you see some people discussing and narrating on trading, you may think its easy and when you enroll in trading you will make surplus profit. Op want you withdraw with some of your conclusion or statement concerning trading.

As with any trading platform, you face the risk of loss along with profit.If people do not have complete knowledge and experience in any business they invest in, there is a risk of loss.Most of the losses are always done by new and inexperienced people. Those who have experience earn very well from trading.Therefore, trading should not scare people so much that they do not turn towards trading.The lesson learned after a loss is the experience.

If trading is done after gaining complete knowledge and experience in trading, it can prove to be very profitable.If trading is not easy, it is not difficult either. In the beginning, whatever field you go into, you will find it difficult, but with time, you will find it very easy after gaining experience.

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

This is correct since you are fighting against other trader to buy low and sell high. It’s not against the exchange which means human psychology is almost the way of being successful on this field.

Quote from: Kara3 on May 07, 2023, 06:51:15 AM

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.

But what is a profitable system? It’s very hard to develop one because you are making an assumption to human mind decision base on the circumstances of your trade. It’s easy to say than done because there’s no consistent profitable system on crypto trading unless you have an inside source tipping you the news in advance to make an early position. But as normal trader, It’s almost impossible to have one.

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Trading is based on the tracking of the economic flow of certain currency.If you find the exact flow of the money,it became the easier one for the investments.The profitable system only achieved with the immediate input to the exact coin,Until you find the strategy for your trading.The process became a complicated one to earn profit from the trading.All your motive is based on the profitable trade.But for the profitable trade,it’s essential one for the trader to build their strategy.Building strategy take some time with some investments.The traders should ready for the trading process.Minimal trading loss should not consider as the loss in the market value of trading,when the trading market give you profits.Surely you will over come from the old losses.

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Yes, psychology is crucial to successful trading. When making trading decisions, it's critical to have the appropriate attitude and emotional control. To succeed in trading over the long run, a good trading strategy is also essential. A successful trading strategy lays the groundwork for acquiring self-assurance, achieving steady profits, and maintaining a disciplined attitude. Making confident trading selections becomes challenging without a successful method, and steady profits become elusive.

Wiwo

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.

Trading gives you money, in order to to protect your money risk management is paramount.

When you mentioned system repeatedly I thought you were going to define what trading system you mean in detail, but then you moved over that and that made me more confused about your point in all this, 90% psychology also is not true, because trading have a pattern to follow and it doesn't follow human mind because as a trader the easiest way to lose in trading is by becoming emotional so trading has little to do with physiology as you asserted in your writing.

And it will be great to see your reply on what system you were talking about because that will give us more understanding for more discussion.

There is no doubt in the fact that trading is accustomed to risk but how the trader manages such risk is what matter whether he remains in profit or loses.

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

What do you think the remaining 10% is, and also what profitable system do you mean?
During my trading experience, I don't think I have ever or should use any system to achieve my version of success as a trader. The ending is the most interesting, it sounds like a trading system that should be built to fight the retail.

jossiel

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.

Trading gives you money, in order to to protect your money risk management is paramount.

It gives me the feeling that I'm reading an advertisement that I used to see on pop up ads on websites that are partnered with Google ads. They keep on telling about profitable system.

But actually, it's true that when one doesn't have that. Well, that means that there's no profit at all and it's a struggle for that trader.

And for one to learn that, it requires experience and capital and upon having those, it's true that risk management is also a must.

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Quote from: Kara3 on May 07, 2023, 06:51:15 AM

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.

Trading gives you money, in order to to protect your money risk management is paramount.

Trading is more like gambling

It’s a 50/50 thing, you may trade today and hit it hard

Tomorrow you trade and lose everything in secs

That’s where risk management comes into play

Instead of just putting all your liquidity or margin at once into one trade, you split it into portions called DCA (Dollar Cost Average)

With this strategy, you can only lose a little if at all your trade goes on the opposite direction of your prediction or analysis

Pandu Geddon

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OP, it sounds like gambling. when we deposit money in the casino and play. then lose but we are always curious about when we will win. when we want to get out of the casino, we are even given a bonus to play. and it keeps us from leaving the casino and ending up making another deposit.

mastery of a trader's emotions can indeed affect the results of the trades that we manage. but that is not entirely a determining factor of whether the trader will benefit or not. a trader of course must have skills that must be mastered. the psychological factor I think only has to do with the trader's experience in the market.

GeorgeJohn

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Trading doesn't give money when you don't know the rudiments of Trading, many people has been handicapped financially today because of trading due to what they had in mind before coming to trading is to make millions, but that's not how trading works, because you make profit in trading you most have known the necessary scopes related to the conditions and the timing before you can as well venture into Trading, with what your concept implies it pointing that trading is not risk business, while in trading two things are involve, either you end up on the disadvantages aspect of trading or the advantages aspect of trading. But when you see some people discussing and narrating on trading, you may think its easy and when you enroll in trading you will make surplus profit. Op want you withdraw with some of your conclusion or statement concerning trading.

Topic: My trading constitution. - page 5. (Read 791 times)