Topic: How to Think Profitably - a Trader’s Mindset - page 3. (Read 805 times)

My experience of trading on various exchanges is about two years. Based on my experience, I can say that trading is 99% of psychology. It all depends on your will, control, strategy, psychology, system. For this reason, 90% of traders are draining their deposits and never become rich.

It is because the winner is smarter.  You cannot think of educating yourself and knows the flow of trades if you are not smart enough.


In trading you need quick decision, and keen observation about the fundamentals and technical of tradings. And that falls  under the definition of being smart.  If both trader is smart, the smarter would win the trade meaning faster decision, wider knowledge,  and clever ideas.  Being smart is also equipping oneself with the right tool.  So basically it is because the one is smarter than the other why he won or profit in trading.

The optimal trader's mindset is this:
1.Be ready to fail in the begining.Be ready to fail big.There's nothing wrong with that,failure is more important than success in the start of every jouney,because you learn from it,while if your are successful right from the start,you become arrogant.
2.Have good signals.
3.Be patient.
4.If the market crashes,don't panic sell.
The risk/reward analysis is important,but without proper knowledge,you could still fail.

Yes that is right, it could let you have an insight into the things you miss. I personally feel that you can have immense profits in trading if you invest in the best project at the least cost. Normally in the bear market, when the economic activities fades away a bit, people start thinking that the market is dead or its era is over now but I think after the recovery starts and after the prices rise high, they invest only then which is not economically rational. Focus on cost minimization.

Indeed, the truth is when your mindset is fix on positive things, nothing will cause the negative to come in, in the place of positivity. Many atimes, positive mindset help alot, and should be encourage between traders and investors. As a little trader i am, am always very careful of my mindset while doing trade or invest. To succeed in life one need to be more positive.

Hard work would really be needed yet positivity on the things you are doing wont really be just enough without putting any extra effort on it.
Trading wont really be that easy or shall we say profiting isnt just a thing that can be achieve directly.You will pass countless of mistakes and losses
and getting experience and learnings from it.Utilize these things overall and you will know that you are going in the right path.

Our mind set actually do affects the way we succeed in whatever we do and that is the reason why we should train ourselves to always have a positive mindset as a trader. Many traders lose money because of negative mindset and not only traders but every field of life.

It's a good guide, mindset and discipline are two most important things in trading, most of the people losing money because of lacking disciple or giving up in the middle of the trade after losing money, trading need knowledge, experience, discipline and correct mindset, losing money in trading is a usual things, making the wrong speculation is the lesson that need to learn, but dont give up and afraid to try new things

A regular review of one's trading journal is definitely important. Having your trades evaluated by other traders can be beneficial, too.

I also read that to keep a journal for the trader is a must. It clearly shows your results and serves as a great way to correct your mistakes.

I think he has just suggested the readers here if they want to get more guidance on the topic, they should check Voodoo crypto which is not bad. He talks about these trading journals could be explored on the internet as well which is an option for those who do not want to go for the one he prefers. And yes it is like if someone is pointing you at the right direction or showing you the area that needs to be explored in order to become a good trader.

Since we are experiencing a bearish market where profit is quite vague for all of us in trading, I got this mindset to find a trusted and reputable platform where I could earn extra profit with trading that will just gives us a small percentage of gain. That is why I came up trading on Darb Finance that enables me to profit extra with their trading incentives. You might question how? Their trading incentive is really great as they will reward every trader that made a trade( amount varies ) with their personalized Darb Token distributing 65% on trade maker and 35% on trade taker, So everyday darb is mining their own token adding financial backup on their trading platform. Plus their transaction fee is the lowest by far compare to other trading platform that trading will not make you worry about the fees. This is the mind set I built few months ago since we are experiencing a harsh market.

Yes, the kind of mindset you have is very important as a trader. But one other you will have to know is that those with that kind of mindset are the most hard working. You don't just get what you want by being positive or having the mindset that you're going to win without putting in work towards winning.

For anyone to have that kind of mindset they already knows what it takes to achieve what they want,  so they are also going to work hard towards that and they also need the skills that are necessary to accomplish it, that's the truth. I'd also like to say you have a Good post.

Lots of folks bringing up great points! Good conversation about how emotions must be managed for trading, including emotions about winning and losing trades.

A few that I'd like to comment on specifically:

Couple things to unpack here. First, good luck starting your journal! Let me know if you have any questions. Your next comment on adjusting your trade plan is an important one. With new information over time, it can make sense to tweak your profit targets. However, until you're absolutely sure that you're not being swayed by FOMO or FUD, you should keep your targets pretty solid. Over time with your journaling you will be able to recognize trends and patters in your own behavior that you can use to improve yourself.

You hit the nail on the head there. Most traders, especially (but not only) new traders, don't have the education, the training, or the tools to consistently profit from trading. Voodoo Crypto doesn't do signals, we teach you to trade for yourself.

That's a valid dissent, but I would ask you this question: is it that the "smarter trader" is better at understanding the other techniques, processing the information, and understanding supporting knowledge, or does the "smarter trader" just know where to find better techniques, more relevant information, and more valuable supporting knowledge?

There's sometimes shady behavior in the marketplace, but if you understand how that behavior works, what the "tells" are, and how to safely navigate the waters when it's happening, you can still swim with the whales as a little minnow and thrive.

Profit is the motivation to play the game, no doubt about that, but you're right that for many traders the game of probability and psychology is a lot of fun!

A couple meta questions too that I want to transparently address.

I am a trading coach with Voodoo Crypto, so it is in my best interest to promote the service. However, my primary motivation for sharing this post and the ones that will follow is to provide value to new and experienced traders. Some may eventually look up Voodoo Crypto and be interested in what they offer, but most probably won't and that's okay too.

Aye, I did post this on Reddit a few days ago. My intention is to continue making posts like this on both because while there is overlap between the audiences, many people only look at one or the other.

When we talk about traders mindset, I think 50% (by assumption) of trader's mindset is to make profit but I think such mindset is tantamount to getting a trader to record more losses than gains because the emotions and impatient would always interference But expert traders, I mean the tested and trusted see trading as a game that they want to try and predict its outcome and so they have more than average understanding and applies the techniques, this could be the reason they win because they have subdued the always winning mindset.

You should never stop and learned from mistakes that you had experienced that it is shouldn't happen again. Traders mindset is always ready to accept either lose or win and study first before having a final decision. I saw OP that the post is well stated and that was clear to understand even if you are a newbie reader.
Learning other people idea on how to predict the market move will contribute you to improve your self in trading and the best thing you do is keep reading on this section there's someone like OP having an interesting topic on how to obtain profit in trading.

If you really want to learn you should never stop no matter what hindrance is on your way, don't just look at how much money you have lost or how much you do have earned. It's not all about the money if you have the dedication to learn and to self-study, sooner or later all of your hard work will pay you off without even noticing you are the master of your own.

Actually winning and losing in trading is part of the risk we that before we enter this kind of investment. Lucier is additional bonus if they can get tradet percentage profits as trader.
I think traders always get lose is doesn't means is unlucky being a trader there was time trial will be end the secret is patience to get a lot of profits as traders.

Although am not a genius in the world of trade but have learnt some very few things that helped me on cash-out early, although doesn't work al the time. Chat reading on daily basis to get accustom with the current price of cryptocurrency matter alot during trade. Cash-out early or late are bound in trade, that's why many traders or so called expert also run at lost.

At OP is advertising his Discord group and i wish s/he a good luck.