Topic: Do you trade for money or emotional satisfaction? - page 2. (Read 2670 times)
Actually that is the main reason why the people invest in cryptocurrency to obtained income and earn lots of securities that can be used for future needs if they needs income for 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.
People trade due to the expectation of earning profit for sure. Trading is really profitable despite of any market situayion unlike in long term hplding wherein huge patience is needed. Also, feelings should be separrated on things which gives an individual profit because it won't surely go well. Emotion should be set aside at times like this.
We must not put our emotions when we will trade. It just ruin our strategy in the field of trading. Instinct, knowledge and experienced are the things that we must acquired. I look trading as a source of money, thefore I will not insist my emotions here. I will loss a capital but I will not make it as my weakness rather I will study more about the tactics when it comes in trading.
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.
in the world of commerce, everything is uncertain, so you don't only have one source of income, if we have money, it would be better for us to invest in other fields, without leaving the main business, because by having more than one business you will feel safe, without fear, if one of our businesses falls, another business will support it. Indeed, revenue in bitcoin is very promising, but for security, we must be vigilant.
Trading for emotional satisfaction really?, When some other people are making off fortunes with trading. It's a big No for emotional trading. Infact the goal is to cut-off emotions totally if possible.
It is very important to learn how to control emotions during Cryptocurrency trading. Every trader that has been around the markets for some time knows that one of the hardest aspects of trading is the ability to control your negatively charged emotions when things do not go as planned.
Regardless, one needs to stay off the grid of emotions while trading.
It is very important to learn how to control emotions during Cryptocurrency trading. Every trader that has been around the markets for some time knows that one of the hardest aspects of trading is the ability to control your negatively charged emotions when things do not go as planned.
Regardless, one needs to stay off the grid of emotions while trading.
If anyone ever trade for emotional satisfaction then this market is not for him or her because even those trading for money are advised to do away with their emotions cos it's not just compatible
If you just want emotional satisfaction, maybe you should play online poker without putting any money in. I suppose you could also just invest in a virtual market, without real money. As soon as money gets involved it can become quite stressful if you don't have set rules in place. In trading, minimizing emotional decisions is critical. You can have too many emotions involved. That's just a recipe for failure. People don't trade just because they don't have anything else to do. It's always to make money.
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.
I’m trade for money of course not to my emotional satisfaction because those emotional satisfactions can help me to earn a huge amount of income or profit in these kinds of business and industry.
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
Ofcourse I am rich and I want to be rich thats why I trade for money not for emotional satisfaction that is only for those who have a lot of money and already rich. 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 invested in cryptocurrency just to make money. I have always believed that the market has good development prospects, but the current market situation is really bad, and the fraudsters have made the market confusing!
That is financial satisfaction and this is enough for an investor who quest to earn in the crypto market. Actually the emotional satisfaction is the next step after achieving a certain level of financial freedom. So once you achieve a given amount of finances, you step in to the altruistic works which is for the emotional satisfaction and this is something subjective as you do not need a bank account full of money to be altruistic.
It's happening both ways but I can say if I'm training using my financial need it is so much harder and not satisfying me then if I am trading just to trade at all, not because I need money right now.
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.
I can say that it is both because in my personal belief you cannot trade successfully if you will have an attitude to earn money, it is not a job. Trading is more than a heart process, then irregular routine just acting.
Here of course will be present both components: because one will come from the other! Having a profit, you can buy something or make a gift from this and there are emotions. And of course you need to trade with a clear goal and a cold head! 
DO YOU WANT TO BE ENTERTAINED OR RICH?…IT’S YOUR CHOICE
I do not deal based on emotions or transactions to get better emotions. I trade for profit, I usually make specific plans and aspirations rather than based on emotions. That is best for a serious job
I traded for profit, because I made crypto and trading an additional job for me.
I am sure the trade will benefit me, as long as I really do my work according to the rules, other than that in trading it also requires patience to get more profits.
I am sure the trade will benefit me, as long as I really do my work according to the rules, other than that in trading it also requires patience to get more profits.
Everyone has a different personal character, I think it's a variety of flavors in trading on crypto, and well.. it can also be influenced by the circumstances around him or the country. For me.. in essence, if that there is an opportunity to step up, I will definitely do it as well as possible, like trading in crypto.
By the way for the emotional satisfaction.. I think is on average done by people who have a lot of money.
By the way for the emotional satisfaction.. I think is on average done by people who have a lot of money.
no, we should have vision .
In the pursuit of a vision, you have to pass through these stages and you have to maximize your satisfaction both emotional and financial. This is something that pushes you forward to achieve your goal. Once you have achieved a set financial goal and you have a certain limit of finances, you then stay motivated by stepping into works that satisfy you both mentally and emotionally. Besides, when you earn in trading, it actually gives you emotional satisfaction.
Emotional satisfaction is the reason for gambling and definitely not for trading. But, probably few sort of people already doing that kind of trading still that must be considered as gambling only.
Emotional satisfaction will not be accepted as payment for goods and services. I trade primarily to increase my earnings and live a good, decent prosperous life. I trade to provide liquidity and volume for the asset that I love : Bitcoin!
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