Topic: Do you trade for money or emotional satisfaction? (Read 2670 times)
I prefer to keep trading calmly and will not use my emotions and I can control my patience as much as possible so that I can always benefit and be able to avoid losses because I am not affected by panic.
I am emotionally satisfied now. So i only trade to get money. And i think there are so many people here that do the same. We need money for our daily life.
I only trade for the sake of making a profit. I've never seen anyone want to trade for an emotional hobby.
Every trader in this space trade basically for the money and to live a financially free life and not be burdened at all. I trade for the money myself
I am trading just want to get profit so I just relaxed trading is not too emotional and not often affected by bad news and some other news so that I can do just trading with relax. in the hope of gaining enormous profits and getting rich
I'm trading to make money. If the strategy that I use is successful, then this is a huge satisfaction.
I chose both emotional satisfaction and money, actually trading only to earn extra money and also use my free time after work, trading can provide many benefits such as learning to control emotions to be able to benefit from trading
DO YOU WANT TO BE ENTERTAINED OR RICH?…IT’S YOUR CHOICE
I came across this excellent chart the other day. It shows those times in history when the S&P 500 doubled over a ten year period and the trajectory that this doubling took.
Please see here for a relevant chart: https://www.tradinggame.com.au/want-entertained-rich-choice/
Much commentary that followed on twitter related to the steady low volatility climb that characterised the latest run and how boring this was. One of the interesting thing about markets and money in general is that people betray their true desires and personality.
Markets are the true window into the soul and in this instance what traders were actually saying is that they wanted to be entertained and not rich. The constant current moaning about the lack of volatility is little more than the plaintiff cries of children who bedevil their parents every school holidays with cries of …I’m bored.
This lay observation tallies with what others have found. The seminal work in this field of trader immaturity is An Analysis of the Profiles and Motivations of Habitual Commodity Speculators by W.B. Canoles, S.R. Thompson, S.H. Irwin, and V.G. France. I have summarised their findings below and have added my own emphasis.
“The typical trader assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler.
[He] does not consider preservation of capital to be a very high trading priority.
As a result, he rarely uses stop loss orders. He wins more frequently than he loses (over 51% of the time) but is an overall net loser in dollar terms. In spite of recurring trading losses, he has never made any substantial change in his basic trading style.
To this trader, whether he won or lost on a particular trade is more important than the size of the win or loss. Thus he consistently cuts his profits short while letting his losses run.
He also worries more about missing a move in the market by being on the sidelines than about losing by being on the wrong side of a market move; i.e., being in the action is more important than the financial consequences.
Participating brokers confirmed that for the majority of the speculators studied, the primary motivation for continuous trading is the recreational utility derived largely from having a market position.
Numerous indications in our survey indicate that they are not trading solely or even primarily for profit, but may be maximizing excitement or the number of winning trades.”
So we come back to the original question. Do you want to rich or be entertained as the choice is entirely yours.
Author: Chris Tate
Article reproduced with kind permission of Tradinggame.com.au.
The article is concluded by the quotes below:
“It's in your best interest to focus on building your trading skills rather than on achieving a huge profit every month.” – Joe Ross
“No matter how good you may think you are, nobody is bigger than the market and it will beat you to your knees if you don't treat it with the respect it deserves.” - Adrian Alberts
“Trading does not have to be very difficult — what can be difficult is finding the right path early on and properly understanding the major impact of your mental state on your trading results” - Gabriel Grammatidis
www.tallinex.com wants you to be a successful trader
Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html
I came across this excellent chart the other day. It shows those times in history when the S&P 500 doubled over a ten year period and the trajectory that this doubling took.
Please see here for a relevant chart: https://www.tradinggame.com.au/want-entertained-rich-choice/
Much commentary that followed on twitter related to the steady low volatility climb that characterised the latest run and how boring this was. One of the interesting thing about markets and money in general is that people betray their true desires and personality.
Markets are the true window into the soul and in this instance what traders were actually saying is that they wanted to be entertained and not rich. The constant current moaning about the lack of volatility is little more than the plaintiff cries of children who bedevil their parents every school holidays with cries of …I’m bored.
This lay observation tallies with what others have found. The seminal work in this field of trader immaturity is An Analysis of the Profiles and Motivations of Habitual Commodity Speculators by W.B. Canoles, S.R. Thompson, S.H. Irwin, and V.G. France. I have summarised their findings below and have added my own emphasis.
“The typical trader assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler.
[He] does not consider preservation of capital to be a very high trading priority.
As a result, he rarely uses stop loss orders. He wins more frequently than he loses (over 51% of the time) but is an overall net loser in dollar terms. In spite of recurring trading losses, he has never made any substantial change in his basic trading style.
To this trader, whether he won or lost on a particular trade is more important than the size of the win or loss. Thus he consistently cuts his profits short while letting his losses run.
He also worries more about missing a move in the market by being on the sidelines than about losing by being on the wrong side of a market move; i.e., being in the action is more important than the financial consequences.
Participating brokers confirmed that for the majority of the speculators studied, the primary motivation for continuous trading is the recreational utility derived largely from having a market position.
Numerous indications in our survey indicate that they are not trading solely or even primarily for profit, but may be maximizing excitement or the number of winning trades.”
So we come back to the original question. Do you want to rich or be entertained as the choice is entirely yours.
Author: Chris Tate
Article reproduced with kind permission of Tradinggame.com.au.
The article is concluded by the quotes below:
“It's in your best interest to focus on building your trading skills rather than on achieving a huge profit every month.” – Joe Ross
“No matter how good you may think you are, nobody is bigger than the market and it will beat you to your knees if you don't treat it with the respect it deserves.” - Adrian Alberts
“Trading does not have to be very difficult — what can be difficult is finding the right path early on and properly understanding the major impact of your mental state on your trading results” - Gabriel Grammatidis
www.tallinex.com wants you to be a successful trader
Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html
Will this is a choice to all of us,either we trade for money or emotional satisfaction,otherwise booth of this are very important in the worlds of cryptocurrency investment,because every bitcoiners have goal who want to achieve into there life,otherwise before we become a good traders we must learn more ideas and strategy of how to become a good earner.
I am not trading for emotional satisfaction. I enter to the cryptocurrency market because of the profit. I am using the volatility of the cryptocurrency as a advantage for me to earn money.
My income is so low. So I enter cryptocurrency and trade for additional income to support the needs of my family. I think there is so many people here who.are trading for money also.
ALL trade for money. Traders are mostly the people that are planning to earn good money working hard. naturally, the emotional satisfaction comes with great returns.
If you trade only for money, I do not think that it will bring a good profit. First of all, before you work, you need to work for fun, not for money.
Yeah, but for real tho. No one would trade just for fun matter, even though you should at least enjoy what you are doing to have better feedback. But, people do trading for making money and not for entertainment purpose. It would be silly to see people do that. 
My income is so low. So I enter cryptocurrency and trade for additional income to support the needs of my family. I think there is so many people here who.are trading for money also.
ALL trade for money. Traders are mostly the people that are planning to earn good money working hard. naturally, the emotional satisfaction comes with great returns.
As a normal person, I am doing something to earn money so that I can provide my needs and satisfy my wants. If you asked me why I am trading, my answer will be simply for money and not for my emotional satisfaction. There are other things who can satisfy my emotional status not only trading but also in mys social life.
Bitcoins and other cryptocurrency is really profitable, due to the popularity of different altcoins that is being released in the market today so people should start trading in order to have more income.
As a normal person, I am doing something to earn money so that I can provide my needs and satisfy my wants. If you asked me why I am trading, my answer will be simply for money and not for my emotional satisfaction. There are other things who can satisfy my emotional status not only trading but also in mys social life.
I don't think so, I just trade casually and make the best possible use of the situation to get a lot of profit by opening buy orders and selling orders only. trading is fun don't be emotional while trading.
in trading that is my main goal, of course, is to get a profit, but if it's been a long time to trade crypto currency, by looking at the price changes every time, it will have an emotional satisfaction impact if the strategy I use is successful
Firstly, of course, I trade for money. Money equals emotional satisfaction to me in that activity and I don't see something bad in that fact.
Trade can only be for money. This is very responsible, especially if it is the only source of income. And emotions after a successful transaction.
For me I trade for my family not for money or emotional satisfaction I do trading to earn for my family and to earn money for them for our financial and for our daily needs. I do not trade because it is in trend I do it so that we have a money. I need to do it so that we have money to buy the things we need. I am not into trading because of money or the emotional satisfaction. I need it for my family not just for me but for my family. In trading you must not put some emotions to it because if you will have some emotion in your trading then you might lose the money thst you invest on it. You will not eventually earn from trafing because your your emotions. You must control your emotions when doing the trading cause emotions will just lead you to lose not to earn.
Trading crypto currency can be considered as a kind of business, and business is carried out almost always because of money. Emotional satisfaction we get when the trade goes well and we get a decent profit. Of course, this kind of activity eventually drags out and here it is necessary to always soberly assess the market and do not overestimate its capabilities, because in this case, losses will be inevitable.
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