Topic: Do you trade for money or emotional satisfaction? - page 9. (Read 2705 times)

you can back to be poor man again if trade just for emotional satisfication only.no profit as our goal.no one want do this, also warrent buffet ,he is richest man, but he still trading for earn money.

If you are financially stable or if you are not struggling about your finances anymore , you are just trading for an emotional satisfaction. As for me, I am trading for money. I am so eager to earn because I would want to secure my future as well as my family and that would give me a contentment and satisfaction.

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.

It is emotion of experience for your contribution. After you entered the game, there are interesting emotions, adrenaline is excreted in the blood. You're worried, even if you're confident in your bet. And then, when your forecast turned out to be correct, you feel emotion from what you were right, from what you earned and from this whole process as a whole. That is, the author talks about the totality of all the emotions that a person experiences from making a decision to buy / sell, until the moment the transaction is closed.
If you do not experience these emotions, then you, probably very reserved person. Emotional people understand very well what the author is talking about and many are trading to get emotions.

I don't quite understand what kind of satisfaction could be from simple trade. To my opinion, when you earn money you get satisfied then. What could be better?

The dependably the objective of everyone, merchant or financial specialist in this marker is to get something in a decent restore this the motivation behind why we are working for having the cash. The vast majority exchange to pick up benefits to accomplish the point the objective. We plan to make increasingly, and profit and our objective are to keep up or to give a decent future to our family.

It's not easy like that, yes you're trading but actually you're gambling your property with the cryptos, it could be down ,up or stay the same in the long time, noone could predict that exactly.

The dependably the objective of everyone, merchant or financial specialist in this marker is to get something in a decent restore this the motivation behind why we are working for having the cash. The vast majority exchange to pick up benefits to accomplish the point the objective. We plan to make increasingly, and profit and our objective are to keep up or to give a decent future to our family.

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 



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