Topic: Hope for the best, but expect the worse! (Read 849 times)

This notion of trying to earn back the money you have lost immediately after a mistaken decision does not really make sense, trading is very difficult so it is natural that most people have never mastered it, but it is not possible to somehow learn how to win all the time, as even companies like casinos cannot achieve this, and if they did, you can be sure there will not be any players left after the massive economic losses they would incurred and the dissatisfaction they will fill after this happened.

It’s true we should keep our expectations high because that is what will make us focus and trade with no fear. As a trader, losing is something that must happen whether a trader likes it or not. Losing is part of the journey, but many traders did think it was a normal thing that happened to traders; they thought they would get profit all the time, which is not true. Every investment has a risk attached to it, and the risk that is behind trading is money that you will easily lose, especially if you have deep knowledge of trading. You are at high risk of losing money.

Emotions are always another factor why some traders lose money, especially if they lose in their previous trade. They put it in my mind that they must recover the loss from the next trader. The last thing I will mention that you forget is greed. Many traders are greedy; they are not ready to learn, and they put too much hope on trading. 

Volatility is part of bitcoin which we can not do without, some see it as dangerous but it is not, it can be dangerous to those who don't have understanding of how it work.  In bitcoin we need volatility, without it their won't be profit, volatility is what makes bitcoin a better currency compare to fiat. The reason why bitcoin volatility is a problem to some people, they rush into the market without trying to have understanding concerning the market. When people know nothing about the volatility of bitcoin it becomes very dangerous that can lead to lose of money.  

Their is nothing difficult about volatility if there is a good understanding about volatility. When you understand volatility of bitcoin while trading or hodling you don't need depend on it,  it is important one must have a source of income to depend on. It is better to trade and hodl what you can afford to lose, and one has to be patient with the market. For one not to be bothered about volatility just understand it and it is not going to hurt just like some people thinks about it.

Well that's it, it means that this is why a trader, especially a beginner, is always advised to dedicate himself seriously to learning various things related to the world of trading, because after all the key to success in trading is knowledge and experience, making mistakes is a natural thing for a human being who does not know what is right and what is wrong, but it is a natural process that everyone goes through in any case to achieve an experience, and this experience will make a trader know that applying greed is an action that is too risky, and giving up in the middle of the journey just because you experience a loss is a loser's mentality.

It means as you said that even though it is human nature but all of that can still be controlled and something that will help you to control it is knowledge and experience, so this is the reason why as I said above that a trader must always have the desire to learn.

In life everything will have 2 sides, or everything will definitely be in pairs. We cannot always want to get benefits (get something good), sometimes we will experience losses. On the other hand, we will not always feel a loss (get something bad), because we will definitely get benefits, as long as we do it with full consideration based on knowledge and experience. The problem is that people become greedy when they get benefits and people give up more quickly when they experience losses. Indeed, that is our natural trait, but that natural trait can be controlled if we have very adequate knowledge. Another problem is that they are quick to conclude while they do not have the knowledge that is usually done by beginners.

As they say, there are no perfect person in this world. So, even if we think we already crafted our best version, there will still be a time that we will commit a mistake again. So the answer to your question is yes. When we go overboard due to greed, I think yeah that luck is most of the things that we will be needing now even though there are also skills there that we applied. There are still times that our outcome is still positive and hopefully will now calm down and return to our previous state next time. Funds are only just a funds. We shouldn't let them rule us too. This is what they say that money is the root of all evil because we let them rule us.

That's interesting, different situations require different reactions and plans? of course, make sure that everything remains objective and does not go off the right track, and the only way to stay in control of everything in my opinion is to maintain awareness so that we can avoid various actions that should be avoided in every particular situation such as emotions when we experience losses or greed that arises in the mind when we have succeeded in achieving the profit target.

In the end I think everything will be fine if only we can always maintain awareness and a rational mindset to identify every sign of a decision that should be avoided and also to know when is the right time to stop.

It's his knowledge tested as well as the self-discipline, will a person be able to go out of the position that he has, if it's too risky / already got the profit needed - or he will try his luck out due to greed, which you described?
Different situations need different reactions and plans for them, that's why it's important to stay responsible and look after your funds, because you are their ruler, not your emotions or temptations.

Exactly, you said everything correctly which I would say that is the reason why greed is something that must be avoided, and that is also the reason why the ability to stop at the right time must be possessed by a trader, the fact is that stopping in a small profit situation is always much better than exiting without profit or even exiting with a loss situation.

As we know that the market is very volatile, a profitable initial position does not mean that you will end the position with a profit, the market is not still, the possibility of an opposite movement is very possible, and this is where the intelligence of a trader is tested, and this is the reason why skills and knowledge are the main keys to staying in the best position, and this is also the reason why a trader, especially a beginner, is always required to have a strong intention and determination to learn.

Yes, this is something the primary rule when you do make out some investment here on crypto space on which you should really that invest on the amount that you do afford to lose because if you do find yourself having this kind of approach on which you do find being that too optimistic and that too much positive about on the outcome or results then on the moment that the market fucks up you hard then it will really be that giving out
that not good feeling or simply with those disappointment and anger on which this could possibly causes up for you to do actions on which arent supposed to be done. This is why it will really be that important that you should really expect the unexpected always on which this market had been always that unpredictable in the first place then it does give out the idea that everything couldnt really be that assured. This is why it would be wise and ideal that you should really be that versatile enough on dealing up with this space and dont make yourself that fixated into the positive results or outcomes because thats not how easy as it goes.
Always be prepared for different back up plans whenever your initial analysis had been failed or a total loss then it will really be that just right that you should know on what you should do next.

Yea, since no one can predict the market movement, losses are bound to happen even as a professional trader and that's why one should always use the amount of money that you can afford to lose in order for you to be in control of your emotions when you run at loss.

A new trader needs to practice for him to have experience about the market and improve his knowledge and such people will always run at loss at the beginning till they have figured out a good strategy that works for them to make profit. Just like gambling losing is inevitable so prepare your mind towards it.

In crypto trading, prices can rise significantly and this is certainly quite tempting for those of us who want to profit from crypto trading. However, behind all that we must also understand that there is an unknown risk of price declines when trading crypto. So I think all traders should understand all of this, that way we will always be prepared if a loss occurs.

That is why in the world of trading we need what is called independent knowledge and analysis so that we can predict the crypto that we want to trade can be held or sold so that we can minimize losses. Sometimes after the crypto price drops, selling is not the right choice, we need to hold it for a certain period of time to be able to make significant profits. That is the use of knowledge and being able to control emotions so as not to panic when the price drops.

After doing everything correctly in the best way that you can you still need to hope for the best but expect the worst for everything to work exactly as you have predicted as trading is so unpredictable. You can predict the market accurately but it doesn't mean that the market can't go the opposite direction of everything that you have done. As a result of this unexpected behaviour of the market sometimes. that's why we don't have to keep our trades open more than how we planned on keeping it as the market can change direction anything and make all our profits to become a lost. We don't need greed and be satisfied with the little profits we already have.

Yes, I completely agree with this saying: "Hope for the best but expect the worst" Yes, this is a wise phrase that contains a lot of wisdom and education for traders and the strategy that they should always follow.

The trader is always optimistic about the best and the big profits and the rise, but he must always take full precautions and be prepared for the worst that may happen, because we are in a highly volatile crypto market and there are many events and factors that may change suddenly and turn the table and turn the profit into a loss. Therefore, the trader must always be prepared.

Traders need to be careful when doing something like this, and this is because if a trader takes such a risky move and they do this because they were in a rush to make profits and they failed to accurately asses why their previous prediction was wrong, then it is entirely possible they could make a mistake yet again and this time it could be very costly, as admitting that you were wrong is already very difficult, but admitting this twice in a row is even more difficult.

I agree with one point and disagree with the other. Learning indeed is a continuous process and no matter what we are doing, even trading, we can always learn something new. There can be no one who can say they know everything, one can be an expert but they will always have room for improvement. Losses in trading are inevitable and even expert traders can lose sometimes, but as I said, when they lose, they learn from those losses because there is always room for improvement.

I disagree that it's like gambling because it is not. Knowledge doesn't have much value when it comes to gambling because you can't apply knowledge or skills and win more in gambling, it's all about luck there but it's not the same in trading. In trading, the more knowledge you have, the higher the chances would be for you to make more profit because you understand the market, you know when to make your trades, when to enter and when to exit the market, and what are favorable risk-management techniques, etc.

A trade deserves several things that anyone who is ready to introduce himself into trade should get before rather than introduce and later end up losing at any times you trade. The first thing is that you should have patience and don’t be much emotional, if not, whatever a person comes to do in this life can never go well; secondly you need to seek out knowledge and achieve a lot of key points of the trading to prevent you from losing too much of your money when ever you trade.

Proverbs prove that leaning is a continuing sentence. If you want to become an expert in trading, the best thing to do is for you to keep seeking for a knowledge together with research. We all know where there’s gained, there will also be losses. It's also like gambling; not everything you predict can be your outcome, but when we've got little knowledge about the trading, the losses will be limited.

Some people prepare for the worse and still profit from the situation. I mean have you seen traders that flip market when thier direction isn't longer favorable. There is this guy I was following, he recommended us to buy fetch one time and was following him to scalp some altcoins, at some point he recommend we sell everything and I did and he short some of those altcoin, it was a risky move but he is now in profit. Some positions are now closed in profit and some are still open.

Crypto market is dynamic but when you see that your direction is not longer feasible. Change the direction but it has to be done moderately. Don't over leverage your position unless you are ready to lose all your money. 2-3x leverage is very moderate and easy to manage incase of liquidation hunt by bears and bulls.

Preparing ourselves for the risks that we will face is of course very important and also we must be able to find the right solution when facing risks in trading, because without understanding the risks that we will face it it is very unlikely that we will be able to minimize the risks that we may face in trading.
When deciding something in trading, of course, it is very important not to be in an emotional state, because it is very unlikely that a person will be able to make the right decision in an emotional state, so it is very important to be able to control emotions when trading.
You are right, in trading there are only two possibilities that we will accept if we cannot make a profit then we will lose money on the trade we do, so it is very important for anyone to have good knowledge and skills about trading so as not to lose their money when trading.

Well as a trader we need to expect the unexpected because not everything will happen according to what we plan and sometimes we loss, not every day we earn so we also need to prepare our self for the possibility. You are right hope for the best and expect the possible worst when we loss.