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Topic: Do you trade for money or emotional satisfaction? - page 16. (Read 2705 times)

full member
Activity: 406
Merit: 156
There are many people in the crypto community who trade for money, to earn enough to manage their daily expenses and to save money for future. These are the people who trade for money because it is their need and necessity. The other people trade just for fun because they already have enough money and are in crypto just to try out their luck in it. They don't care even if they loose their money.
I trade so that I can manage my own expenses and not be a burden on my parents. So far I have been fulfilling my goals.

I really think that the people you described as "trading just for fun because they already have enough money and are in crypto just to try out their luck in it" are a minority in this industry and can be counted on the fingers .. In order to be one of that species you need to be extremely rich and not really having what to do with your money so you proceed to waste it on adventures since with that kind of money anything is an adventure for you , and whatever are the consequences you won't care since it won't affect your life .
And such people should turn to gambling , i'm sure it'll be by far more fun than having to keep up with whatever bullshit is happening in the market daily ..
full member
Activity: 630
Merit: 100
Probably most of people do that for money; I can't call the whole process "satisfying" Smiley

Sure, for money. And for the emotional satisfaction that comes to me when I get this money. Trading takes too much time and effort but it is a very exciting business that can make you richer very soon.
member
Activity: 224
Merit: 10
I think most people are trading for money and not for some emotional satisfaction, I think that would just apply to gambling.
newbie
Activity: 182
Merit: 0
No need to choose, both are acceptable. When you win by trading - it brings an emotional satisfaction also
full member
Activity: 618
Merit: 100
BBOD The Best Derivatives Exchange
All exchanges bring a lot of emotions to the trader, losing money when the market goes down the emotional start of anxiety, fear and thinking negative things can happen at any time. Exchanges bring profit. Emotion begins to get better with joy, confident thinking about wealth. The trade brought a lot of feelings to all the traders and me.
newbie
Activity: 81
Merit: 0
I like to gamble I am an addict so I just do it with crypto now. Usually it doesn't become completely worthless.
legendary
Activity: 2716
Merit: 1383
When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.
All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .
Be careful, while it is possible to earn good money with bitcoin and other cryptocurrencies it is very difficult to do that when you are not free to use your money to take advantage of the opportunities that present themselves, for example you could see that an ico is a very good investment but if you need that money to feed your family then you're never going to invest in that ico.
newbie
Activity: 294
Merit: 0
I also trade for money, because where I live with work is bad, I need additional income to get on my feet and I want to realize my dream, which you can not accomplish for one job
full member
Activity: 378
Merit: 100
I’m prefer to trade for money than emotional satisfaction in Order to achieve my dreams in the future, to be profitable and stable enough in financially matters to have a better life in the future.
hero member
Activity: 1036
Merit: 520
You should look at it as a entertainment If you want to be a millionaire , Only if you are a billionaire!
Trading is a professional Job , A high class one , when You can do it any time , anywhere , But I look at it as a second job , because i want to trade relax and more comfortable .
member
Activity: 176
Merit: 10
For money of course and i think most of us joined crypto world because of money at first but later on the emotional satifaction.
member
Activity: 350
Merit: 12
When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family. So, If I can some, It would be good for my family.
same here mate...i  am not trading just for emotional satisfaction but because we need money for family's needs.I still have son who will be in college soon that is why we work hard to have money.Lucky are those who are trading just for emotional satisfaction.
legendary
Activity: 1848
Merit: 1000
I would imagine that most people involved here would be trading for money, myself i would like to achieve a position where I would not need to work anymore and be able to live very comfortably, this is proving to take a little bit longer than expected, I fear I am maybe a little bit too cautious.
legendary
Activity: 2674
Merit: 2334
“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.
Personally I don't get any emotional satisfaction in the investing, trading or exchanging a currencies. Moreover, I try to reduce any negative risks in order to don't play a "gambling game". If I understand that I made a mistake, I become a distressed, because only me is responsible for my own financial decisions. I just want to get a profit.
legendary
Activity: 1330
Merit: 1019
I don't see trading crypto currency as an entertainment in any way but as some thing that brings profit to me at the end of my trade which simply mean that I trade for profit and not for entertainment purpose.
Trading is one of the trickiest and the most difficult thing to do amongst all other ways of earning money and that you need to work exceptionally well to do the right thing at the right time. trading is something which you need to take very much seriously and that it is not like that you take it for the sake of fun or emotional satisfaction as you have invested a lot of money into it which can be lost as well.
sr. member
Activity: 1778
Merit: 309
We trade for money, more than the satisfaction that we get when we are able to improve the lives our family, money is the main reason why we are trading. After you get money, after the success from trading, that's when we get the satisfaction from the thing we've done. It's not because how we will feel after we trade, it is about the needs that we have to get for our daily lives because without those, we won't get the satisfaction in life.
newbie
Activity: 280
Merit: 0
I'm planning making trading as my main source of income. since the day I started getting into crypto I'm having fun Smiley
hero member
Activity: 854
Merit: 500
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When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.
All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .
I also like that by choosing the trading job I want it is just money because for family needs and to trade in the world of crypto it can make it easier to earn big money and can live a better life too
Most of the replies was for job and to earn money. The emotional satisfaction is also there when we win or gain profits. The main purpose of trading is to met our needs and wants next is emotional while it was very important to use it properly in trading activity.
newbie
Activity: 140
Merit: 0
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 think basically the purpose of trading is to look for multiplier benefits if emotional satisfaction is not the main thing. Yes, the satisfaction of each person is different but more focused on financial satisfaction rather than emotional
member
Activity: 252
Merit: 12
Trading for emotional satisfaction?   Cool I do not think so .Almost everyone here wants to make some money.It is true that your enjoyment can fall within your job at the same time but most often the money is put first in any of these things that we do.Who will sit down and waste precious hours just for emotional satisfaction.He could as well watch movies or play a game which gives better emotional satisfaction because there are no financial losses in game even if you lose.But in trading ,you can lose a  whole lifetime investment if you are not careful.
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