~If you must trade~ | Bitcointalksearch.org

uchegod-21

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Emotional restraint and self-control are crucial for traders to remain unaffected by market developments and perform accurate market analyses. They can assess market conditions to determine market entry and exit. Learning trading skills and self-control is essential, but progress can be made gradually. Good trading skills and self-control are the most crucial aspects of trading.

Trading is not for the weak and faint hearted. It will be difficult for a trader who cannot control his emotions to make the right decisions devoid of emotional attachments. While learning all the techniques for effective trading, we should also devote our time to learning emotions management . We overlook this aspect but it is very necessary for a successful trade and for the sake of our mental health too.

Ahli38

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Emotional restraint and self-control are crucial for traders to remain unaffected by market developments and perform accurate market analyses. They can assess market conditions to determine market entry and exit. Learning trading skills and self-control is essential, but progress can be made gradually. Good trading skills and self-control are the most crucial aspects of trading.

Well, progress and important insight into everything will follow us as time goes by and as we go through more experiences. In fact, we will become more patient individuals in trading activities after we have a lot of experience and also when we have fundamental information that we can trust. Important information can sometimes be an important support in controlling emotions and patience. For example, when we have information that a coin project will hold a big event in the next 2 weeks. So, of course, armed with this information, we can be more patient in holding firmly the coins that will hold the event. Because we know that usually the peak price will be reached just before the event starts. so that's the right time to sell. Because after the event starts, prices usually move down.

In essence, emotional control can be achieved with a lot of experience, having important information and good management in all matters.

Gallar

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Quote from: Pablo-wood on August 02, 2023, 05:37:01 PM

I was having this strong contemplation, between emotion and patience which factor affects traders the most. I know we have other factors that can make a trader experience huge losses such as FUD, greed, lack of contentment, indiscipline and high expectations and over zealousness.

But I had to narrow my scope to just the emotional and patient factors. I am sure many traders can relate better with this two factors compared to the rest this lead me to seek the answer from traders and prospective traders which do you think should be handled with more caution and between the two which has higher chances of helping a trader have at least 70% of total control of their profit cycle.

You need to know that greed, lack of satisfaction, and patience are human emotions. So actually the problem you are complaining about here seems to be just a problem of how to control emotions when trading. Because basically emotions have a huge influence on the success that can be achieved from trading in the crypto world. Because I personally also feel something like that. Therefore, emotions must be controlled well when trading on the crypto market. So my advice, to be able to control your emotions when trading in the crypto market, you just need to dig deeper into your knowledge and experience about crypto trading. Because of what I experienced and felt, my emotions became uncontrollable due to lack of knowledge and experience. But if you already have a lot of knowledge and experience in the field of crypto trading, that's where your emotions will slowly come under better control. So the main key to being able to control emotions is to learn more, but while continuing to trade. So that knowledge and experience can be gained simultaneously.

Altryist

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Quote from: Bitcoin_people on October 25, 2023, 09:26:53 AM

Of course if a person can control emotions and patience then that person can cultivate patience within him. If you lose money investing or trading but are able to control your emotions then you are a patient person. If a trader is patient in his business, he will definitely be able to move forward and be successful in the future. That is why when a trader starts trading he must take time to be profitable. That is why it is better to wait for a long time rather than risking losses by trading unnecessarily.

Depending on how long your trading losses last, you can be the most patient trader in the world, but if you don’t start making money on it, then this patience will not give you anything. You should always start trading with small amounts, because you will need to check how good your strategy is, it is better to lose small money while you are learning, it will not be so noticeable, but this also does not guarantee, that when you trade for large amounts, will be no losing trades.

Bitcoin_people

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Quote from: Franctoshi on September 11, 2023, 12:47:23 PM

Quote from: Pablo-wood on August 02, 2023, 05:37:01 PM

I was having this strong contemplation, between emotion and patience which factor affects traders the most.

If you take a microscopic view of the two "Emotion and patience" you would see that emotion gave birth to patience, meaning that if you remove emotion from attaching it to your trading decisions, you will be patient or at peace with your trades, in the sense that you won't be in a hurry to take trades, close trades unnecessarily, and generally you will be patient with trading set up and conditions to be met.

Of course if a person can control emotions and patience then that person can cultivate patience within him. If you lose money investing or trading but are able to control your emotions then you are a patient person. If a trader is patient in his business, he will definitely be able to move forward and be successful in the future. That is why when a trader starts trading he must take time to be profitable. That is why it is better to wait for a long time rather than risking losses by trading unnecessarily.

TakeItEasy

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Quote from: noorman0 on August 03, 2023, 03:55:26 AM

All of them, patience is part of emotional intelligence that must be controlled as much as possible. If you are trading in the spot market, patience is your last bet when you take the "wrong" entry or the market moves against your predicted scenario. So emotional intelligence is more in demand when you have open positions or when buy orders are filled.

Nearly 70% of trading lessons is theory about pre-trade setups that you can learn from others. But the lesson of emotion is a special thing where you have to practice more on your own and you can only learn it self-taught.

There is not a big difference between these two as a whole but when we keep our emotions patiently then we can get to success. As these two are related to each other and in a sense I can say directly proportional to each other like, when emotions come in between trading it will challenge your patience and when you have great patience challenges must come your way in different losses at trading.

As loss in trading is also a challenge for a trader, he must go through this challenge and hardships and he will face these losses at all. But the only thing he should have to take control over these challenges and hurdles is "Patience". It would be a trader's success if he is observing these things patiently.

Ahli38

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Quote from: Ki kos on September 11, 2023, 12:01:23 PM

I think it is important to have a good understanding of the trade before trading.Then acquire good skills on trading.
Another thing is that not everyone can be a trader, you have to spend a lot of time and be patient after this trading.If I don't have patience in this trading, then we will not be able to succeed in trading. And you have to have some way to trade yourself so that you don't lose when you trade.

Trading is actually quite simple. And technically it is very easy to learn. But the most difficult part of trading is controlling your emotions. Our patience may even disappear if we are not good at managing our own emotions. Patience is actually like a fortress in holding back our emotions so they don't run wild. But to be able to use this fortress to be stronger in guarding your emotions, you need a lot of insight and experience. Because based on what I have found, patience actually gets stronger the more experience we get in trading itself. But studying theoretically is also necessary so that when we encounter many things in trading, we will not be surprised and will immediately get used to and know the things we encounter because we have studied them theoretically. Theory can be an important support so that we can learn more quickly from experience.

wiss19

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Quote from: Out of mind on September 15, 2023, 10:51:35 AM

If you are starting a business, then the first thing you need to do is think positive.

Not only in trading or businesses, one needs to have a positive attitude towards everything they do in life, that's how you tackle problems without letting them affect you or things related to you including a business or a work that you are doing.

Quote from: Out of mind on September 15, 2023, 10:51:35 AM

If you have negative thoughts before trading and are not patient, you will never be successful in trading. If you can eliminate and control your emotions and negative thoughts, you can become a successful and experienced trader.

Well, patience is needed, of course. One can't be emotionally unstable and still manage to take the best decisions for their trades or anything that they are doing. That's why, when someone is trading, they need to have a lot of control over their emotions and thoughts.

Quote from: Out of mind on September 15, 2023, 10:51:35 AM

If you trade patiently then you can definitely increase your profit and if you are emotional then you will never be able to earn.

One might be able to earn, but that will make them not take the best decisions at the right time which might make them lose a lot of juicy opportunities.

Quote from: Out of mind on September 15, 2023, 10:51:35 AM

Most people can't succeed in business only because they don't control their emotions and patience, that's why they need to influence these things properly first.

A decision influenced by emotions will barely turn out to be a good one, so, what you said is right.

Vaculin

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Quote from: Franctoshi on September 11, 2023, 12:47:23 PM

Quote from: Pablo-wood on August 02, 2023, 05:37:01 PM

I was having this strong contemplation, between emotion and patience which factor affects traders the most.

If you take a microscopic view of the two "Emotion and patience" you would see that emotion gave birth to patience, meaning that if you remove emotion from attaching it to your trading decisions, you will be patient or at peace with your trades, in the sense that you won't be in a hurry to take trades, close trades unnecessarily, and generally you will be patient with trading set up and conditions to be met.

Being patient is part of your emotions, but being emotional when it comes to trading is always a bad idea since it will push you to buy at market tops and sell at a market bottom. When that happens, you are not trading the way how it should be but you are doing it for a loss. However, being patient in trading is certainly the best possible emotion you should adopt. If patience is not present, I don't think trading will come out worthwhile and profitable in the end.

DVlog

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Quote from: Kasabus on September 01, 2023, 12:37:53 PM

Quote from: crwth on August 14, 2023, 10:20:42 PM

For the members who said that it's about emotion, I agree with you. Most people, not just traders, lose it when emotions are involved. Imagine someone having that feeling brewing inside them, and when it pops, it's just not under control. It's dangerous when we are talking about emotions.

Many people agree that it's one of the causes that could make you lose a trade and be emotional and feel that you could overcome it because you have thought of it before. It's dangerous to rely on emotions.

Traders are certainly battling with their own emotions. Without emotional control when you trade, it's like you only trade to lose. That is why emotions when tolerated in trading will only lead to more losses and frustrations. Also, patience plays a big role in successful trading. You can't be one profitable trader and crypto investor if you can't be patient not just for short duration but certainly for long term.

It is hard to control your emotions when you see that your portfolio is -30% and still going down. If you can not exercise emotional control then create a great money management strategy. No matter what the situation of the market is if you can follow your money management strategy your portfolio will not be drastically down. You can take some losses but they will not be half within a few trades.

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Quote from: gunhell16 on September 15, 2023, 10:09:16 AM

Quote from: dansus021 on August 02, 2023, 09:40:04 PM

I think emotion is the biggest enemy of trader, the biggest emotion is fear and Greed. You fear when the market at lowest point and greed when at the top of point.

you need control your emotion so you can manage your money when you are loses or dont overtrade when you made a profit.

Know when Stop Loss and know when take profit

Yes, that's true; our emotions are the enemy, and it's like we're fighting against ourselves. There are only two possibilities: you or we will be controlled by emotions, or we will be controlled by emotions. It's just that what often happens is that most people are overcome by their emotions, so the result is that because we can control our emotions, our patience is now affected.

But if we can control our emotions, of course the result will be that even if the situation is not good, we will be able to handle it calmly because we know the steps to take.

It is true that in trading it will be very difficult for us to control our emotions. If we cannot control our emotions, it is very likely that we will experience losses and if we can control our emotions in trading, this can reduce the possibility of losses occurring. When trading, we need to train ourselves to be able to control our emotions because if we can control our emotions, we will be wiser in making trading decisions.

Anything that on your first time would really be that difficult and this isnt only applicable on trading but on all things on which we are tending to engage on on which it would really be that resulting into those mistakes

which are normal since we dont really have that actual experience and knowledge towards it.This is why it would really be that so normal that errors would really be faced up along the way and this is really just that wise that you do really need to take up that kind of adaptation in regarding on the situation on which it would really be just that so normal that you would be needing to make yourself that wise.
Study and reassess on the errors that you had commited and trying out to adjust accordingly on the situation.Its never been easy on dealing up with trading yet you wont really be just needing to adjust
in regarding with your emotions but also with your psychological aspect and this is something that must really be that mindful on doing so.

bitcrystal

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sounds like this two go hand in hand because how well you control your emotions will determine if you will be patient enough or not. taking a whole of time to wait for a trade set up to complete is one of the hardest thing especially for newbie traders because every time they see something they just feel like pressing the buy or sell button. a trader needs to have these two trait in shape to reduce their loses.

Out of mind

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If you are starting a business, then the first thing you need to do is think positive. If you have negative thoughts before trading and are not patient, you will never be successful in trading. If you can eliminate and control your emotions and negative thoughts, you can become a successful and experienced trader. If you trade patiently then you can definitely increase your profit and if you are emotional then you will never be able to earn. You must work with good thinking and patience to be successful, but you can be a good businessman. Most people can't succeed in business only because they don't control their emotions and patience, that's why they need to influence these things properly first.

gunhell16

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Quote from: dansus021 on August 02, 2023, 09:40:04 PM

I think emotion is the biggest enemy of trader, the biggest emotion is fear and Greed. You fear when the market at lowest point and greed when at the top of point.

you need control your emotion so you can manage your money when you are loses or dont overtrade when you made a profit.

Know when Stop Loss and know when take profit

Yes, that's true; our emotions are the enemy, and it's like we're fighting against ourselves. There are only two possibilities: you or we will be controlled by emotions, or we will be controlled by emotions. It's just that what often happens is that most people are overcome by their emotions, so the result is that because we can control our emotions, our patience is now affected.

But if we can control our emotions, of course the result will be that even if the situation is not good, we will be able to handle it calmly because we know the steps to take.

Y3shot

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Quote from: Pablo-wood on August 02, 2023, 05:37:01 PM

I was having this strong contemplation, between emotion and patience which factor affects traders the most. I know we have other factors that can make a trader experience huge losses

This two factors are never good for trading , they both have the same consequence in trading if a trader have it has a trait. Emotions can make a trader to be disorganised not knowing what to do, and Emotions can also be responsible for the lack of patience. The lack of patience can also exist on its own without Emotions, lack of patience is as a result of to make profit from trading so fast. Emotions and patience are great factors that can hinder a trade from making profit, this trait should not be find as a characteristics of a trader.

freedomgo

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Quote from: Franctoshi on September 11, 2023, 12:47:23 PM

Quote from: Pablo-wood on August 02, 2023, 05:37:01 PM

I was having this strong contemplation, between emotion and patience which factor affects traders the most.

If you take a microscopic view of the two "Emotion and patience" you would see that emotion gave birth to patience, meaning that if you remove emotion from attaching it to your trading decisions, you will be patient or at peace with your trades, in the sense that you won't be in a hurry to take trades, close trades unnecessarily, and generally you will be patient with trading set up and conditions to be met.

True. Being patient is still part of your positive emotions. Without emotions, patience will never also come in reality. While emotions is never necessary when trading that you need to avoid it as much as you can, but patience comes with crucial role in the crypto market most particularly if you are in a trading scenario. The more you become patient to your trades, the rare you become impulsive that makes you create wrong decision making that will turn your future profits into future losses.

Franctoshi

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Quote from: Pablo-wood on August 02, 2023, 05:37:01 PM

I was having this strong contemplation, between emotion and patience which factor affects traders the most.

If you take a microscopic view of the two "Emotion and patience" you would see that emotion gave birth to patience, meaning that if you remove emotion from attaching it to your trading decisions, you will be patient or at peace with your trades, in the sense that you won't be in a hurry to take trades, close trades unnecessarily, and generally you will be patient with trading set up and conditions to be met.

Ki kos

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I think it is important to have a good understanding of the trade before trading.Then acquire good skills on trading.
Another thing is that not everyone can be a trader, you have to spend a lot of time and be patient after this trading.If I don't have patience in this trading, then we will not be able to succeed in trading. And you have to have some way to trade yourself so that you don't lose when you trade.

MFahad

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Quote from: Ricardo11 on September 01, 2023, 11:25:33 AM

I trading any time and I trading using my own trading strategy. Everyone should have their own trading strategy. When you trading, trading with courage and patience. Because patience and courage are very important while trading. If you are impatient and trading with poor morale, it will not allow you to make the right decisions and you will not be able to trading at the right time, as a result you will only lose. So you have to be patient and develop a trading strategy of your own and trading in the space that you can handle properly.

Agree with you as if a person is using his own trading strategies then he will easily manage all the conditions and if copying from others then many difficulties can originates in a way.

In this era one will be his own courage because no one appreciates the works of others and if you are satisfied with your profit and work then it will enhance your courage therefore it is necessary to be thankful for your achievement whether its a big or small.

Patience plays an important role in one's success but it should be keep in mind that patience and active activeness are two different things, some people don't remain active to examine the price even they become silent when they have profit but its not a type of patience.

This silence which holders consider as patience sometimes skip all the useful events in which holders can get huge profit so I will suggest that patience is necessary but remains active is also very important.

Kasabus

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Quote from: crwth on August 14, 2023, 10:20:42 PM

For the members who said that it's about emotion, I agree with you. Most people, not just traders, lose it when emotions are involved. Imagine someone having that feeling brewing inside them, and when it pops, it's just not under control. It's dangerous when we are talking about emotions.

Many people agree that it's one of the causes that could make you lose a trade and be emotional and feel that you could overcome it because you have thought of it before. It's dangerous to rely on emotions.

Traders are certainly battling with their own emotions. Without emotional control when you trade, it's like you only trade to lose. That is why emotions when tolerated in trading will only lead to more losses and frustrations. Also, patience plays a big role in successful trading. You can't be one profitable trader and crypto investor if you can't be patient not just for short duration but certainly for long term.

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