~If you must trade~ - page 5. | Bitcointalksearch.org

o48o

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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.

I have made my biggest profits when i don't care. That makes you resistant to fud and you are able to use huge swings since you actually want to wait.

But most of my best trading comes from luck, and explaining how my skills had anything to do with the fact i lose or win is misleading. Truth is that i get a feeling of control when i analyze my trades and what factors in on losses and wins. When in truth, it's mostly luck.

Sometimes fear is good. That can save you huge amounts of money when you don't end up DCA:ing into ground.
Sometimes i am so blinded by fear, that denialism kicks in and i can just do nothing. Like watching the boat sink and just drowning with it.
Sometimes being too greedy is good. No one would have known how far the biggest movers in crypto were going. If i only been too greedy i would be rich now.
But sometimes it can prevent you selling when you should, because you are just too greedy and your targets are delusional.

What i want to say is that there's really no one way to trade, and don't beat yourself having feelings about the trade. You have feelings because you are human and people rarely reward themselves of following feelings, when those feelings were correct. They just want to punish themselves when they were wrong.

DoublerHunter

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Quote from: Hamza2424 on August 05, 2023, 03:22:31 PM

Emotions are not your enemies, emotions are what makes to different from others, be free with emotions I use to endorse the view to control emotions while playing in the market, it doesn't mean you need to be emotionless and you even can't you just need to train yourself to respond accordingly. A bot trades against emotion when you are trading you cant take trades without emotion because it's your nature. All you need to do is be smart with emotions as great traders follow the tip "Be fearful when everyone's greedy and be greedy when everyone fearful". This is a line millions in market just follow it in free and keep smiling Wink

^Definitely right and I agree.
It is a part of being human, and it can be a driving force behind our actions and decisions, including in trading. Emotions can provide valuable insights and intuition that automated bots may not possess. As you rightly mentioned, it is not about eliminating emotions entirely but rather learning to manage and channel them effectively while trading.
It is all about finding the right balance between being driven by emotions and making good decisions in trading.

Hamza2424

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Emotions are not your enemies, emotions are what makes to different from others, be free with emotions I use to endorse the view to control emotions while playing in the market, it doesn't mean you need to be emotionless and you even can't you just need to train yourself to respond accordingly. A bot trades against emotion when you are trading you cant take trades without emotion because it's your nature. All you need to do is be smart with emotions as great traders follow the tip "Be fearful when everyone's greedy and be greedy when everyone fearful". This is a line millions in market just follow it in free and keep smiling Wink

Cryptomultiplier

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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.

Besides the fact that emotions and patience are contributory factors to ones success as a trader, there's also the need to be knowledgeable enough before trying out such a venture.

I believe anyone who has the right knowledge, will also have the confidence to discern the voices in ones head that make them a potential trader.
A double minded person cannot succeed at trading because the patience to wait for maturation and the right time to trade will constantly be in dispute.

isaac_clarke22

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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.

Both of those two depend on each other. Emotion would be either brought down or up by your patience and your patience could trigger some unnecessary decisions whenever your emotion gets into you. You're not a robot programmed to handle these two in either of one.

It's technically okay to feel such emotions and get your patience triggered, it's the action on how you apply it to your trading that matters the most. You're a human trading not a trading bot and it's perfectly normal to have these kinds of reaction to what you just said such as "huge losses" from FUDs.

Alpha Marine

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They're not very different from each other in this context. If you control your emotions you'll have patience because patience is an emotion. Some factors make you not be patient and those factors can also be classified as emotions.

Those factors can be greed and fear which as also emotions. So I think poor control of emotions is what leads to a lack of patience.

On the matter of controlling emotions, it's always way easier to talk about it than do. It takes a lot, especially in very difficult situations and we have a lot of those situations in trading.

cryptomaniac_xxx

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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.

I think it's emotions that is the biggest enemy of traders, because it might clouded our decisions, and most of the time, we make the wrong one because we can't properly think and what's on our mind is just to make profit.

But if you carefully analyze it, if we just get out in time and not take the risk any longer. We could be in the positive. However, when greed sets in, we really our out of control and make bad decisions after bad decisions resulting to a biggest lost.

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Quote from: goaldigger on August 03, 2023, 04:48:08 PM

Self-control with your emotions and patience should be there at all times because those who trade with this are the usual successful trader.

What's the matter with the new traders out there, they're rushing and thinking that trading is a competition. While they see others earning from their trades, they think that they also need to profit even if the timing isn't perfect. It shouldn't be like but being patient will take them to the same results as those first ones that made their trades win.

Quote from: goaldigger on August 03, 2023, 04:48:08 PM

Having your effective strategy can also be a big factor so make sure to have more strategies when it comes to trading and handling your emotions.

Winning strategy and decision making, looking at the market's situation are plain factors for a trader to win with his trades. But sometimes, there could be other factors and just don't be too emotionally affected with everything.

Solosanz

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It's alright and no one will always make correct decision especially in trading. You did making some profit, but you're just want to try more, unfortunately it's not like what you expect.

If you can't accept the reality where you spend some time and not earn anything, you're better off avoid trading and learn a skill that will make you earn money. Not everyone can become a trader, different person has a different skill.

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

~
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.

Both are very vital things when it comes to trading, but if I will pick which is more important than the 2, I think it will be emotion.

Aside from the fact that you must have a strategy that works for you, and risk management, controlling your emotions is really an important thing. I also believe that if you can learn how to control your emotion, there's a chance that you might be more patient as well in trading. On the other hand, controlling your emotion alone will not give you a higher win rate because you must have a strategy, and of course knowledge with trading that will help you in your journey.

One step at a tile OP. Try to learn how to control your emotions first while trading. Learning everything isn't quick, and it will take time. If you know how to control your emotions already, try to learn something again like reading the charts. If you really want to succeed in trading, controlling your emotion alone will not help you, but adding your knowledge, and risk management on it will increase your chances in getting winning trades. Good Luck OP.

jeraldskie11

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Quote from: sheenshane on August 03, 2023, 06:50:42 PM

Quote from: goaldigger on August 03, 2023, 04:48:08 PM

Self-control with your emotions and patience should be there at all times because those who trade with this are the usual successful trader.

^But the main subject could be your knowledge, right?
IMO, to maximize profits in trading, a trader needs a combination of various essential qualities and skills because emphasizing only one aspect while neglecting others can significantly affect trading success.

However, risk management is another vital aspect of trading because even with patience and emotional discipline, a trader must manage their capital wisely to preserve it during unfavorable market conditions. Proper risk management ensures that no single trade has the potential to cause significant damage to the trader's overall capital and the last one is the stop-loss which is very important.

So not only two of them, it should be various of them that we should always consider.

To be profitable in trading, risk management is very important to apply in every trade. There are various of effective trading strategy out there but it won't make us profitable if risk management is not included in our plan. Meaning, there are some days we experience a multiple losses that we have to survive for future trades. The thing is, when we are in-controlled by our emotions, we won't apply the risk management because of revenging trades and greediness caused by emotions. Emotional stability is the very key to be successful in trading.

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Quote from: Dr.Bitcoin_Strange on August 03, 2023, 02:40:46 PM

A trader must have all the qualities of a real trader before they can maximise profits in their trading. Having just one quality and not the other can really affect one's trading success. When talking about patients, some times the market can take a big swim against you, but depending on your level of asset, if your asset is not yet liquidated, you can have some patients believe that after some minutes the market can still Begin to recover, but when someone is too hasty for that trade, they can quickly cancel the trade, meaning they are not even sure they will make a profit at the end of the trade. Then, trading with emotions can also cause a trade to experience more losses. I don't really think that if a trader lacks any of those qualities, they can lose even 50% of their trades.

The trader should learn the trading before he start to trade in the real time.Because money doesn’t come easier,we are working hard to earn the money.So money should be traded on the good coin as compared to the random trading.Some people who had huge money in their bank try to do random trading,trading is mean for the good coin and for the profit.If you spend some time on trading analysis,it will double your profit after certain period of time.So analysis and then inverse in the trading to avoid of loss.

GxSTxV

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What I have learned from trading in forex and even crypto is that it's similar to any job and industry you start taking if the possibility of winning every time and simply you can't always be right on the next price movement, Many newbies believe that trading is a money generator and getting rich quickly.
Personally I don't believe in 80-90% accuracy for every trade because many factors can impact prices disregarding analysis or news. Also i will say that no bot or indicator works flawlessly all the time and relying on them can be risky on your capital. It's important to manage your emotions, trade with lower risk and smaller capital, and recognize that even the best traders gain only 2-3% of their capital monthly, sometimes losing that percentage.

Yamane_Keto

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Quote from: shivansps on August 03, 2023, 09:16:44 AM

There will always be emotions, but the ability to control is a separate ability that a successful trader must have.

Not only control, but directing these feelings to achieve profit. If you seriously exploit the emotion of greed in an attempt to collect more bitcoins, you will find yourself learning a new programming language in a short period, while in the past you would go to bed early or spend the evening with your friends.
Proper exploitation of the emotion of fear is by questioning projects, as there are goos signs that the project is a failure or scam, but we looked at the possibility of profit, which blinds you to the possibility of loss, because the mind loves to win and is afraid of losing, so it tries to avoid these feelings.
If you can't exploit it, then cancel it and just make plans and bots trading.

lienfaye

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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.

Having lack of patience is a result of not being able to control your emotion. Therefore, emotion affects the trader the most since it is the one influencing yourself to be impatient. The reason why it's important that you can control your emotion when you trade. If you let yourself decide based on what you feel (most common is fear) then chances are you might commit a wrong decision.

Though, emotion and patience are not the only factors that affect the traders to have a successful trade. It still plays an important role. It should be manage accordingly to minimize losing your money as a trader.

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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.

Emotion control will really influence the patience. Much better we manage the emotion, much better we can stay patient.
This will exactly influence each other.
Indeed, there is often a clash between the desire to be more patient in dealing with various crypto market conditions. But in reality, sometimes our ability to control our emotions turns out to be much thinner, so that we can easily falter and eventually the patience defense we have built collapses. And finally we get carried away by the uncertain market atmosphere, panic more often, and get impatient when the market drops. result? this will automatically become panic sells or even powerless anymore to see crypto market, especially to get involved in it.

sheenshane

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Quote from: goaldigger on August 03, 2023, 04:48:08 PM

Self-control with your emotions and patience should be there at all times because those who trade with this are the usual successful trader.

^But the main subject could be your knowledge, right?
IMO, to maximize profits in trading, a trader needs a combination of various essential qualities and skills because emphasizing only one aspect while neglecting others can significantly affect trading success.

However, risk management is another vital aspect of trading because even with patience and emotional discipline, a trader must manage their capital wisely to preserve it during unfavorable market conditions. Proper risk management ensures that no single trade has the potential to cause significant damage to the trader's overall capital and the last one is the stop-loss which is very important.

So not only two of them, it should be various of them that we should always consider.

goaldigger

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Quote from: shivansps on August 03, 2023, 09:08:08 AM

It is difficult to say what influences the trading of emotions or patience more. These factors are difficult to consider in isolation, they are like two bicycle pedals. You cannot use just one. Emotions are different. Some emotions can protect us, others can kill us. One of the main things is not to drag out a trade when you are losing money or making money.

This two are important as you are trading to make profit and not all the time you can have this as challenges rises while you are trading. Self-control with your emotions and patience should be there at all times because those who trade with this are the usual successful trader. Having your effective strategy can also be a big factor so make sure to have more strategies when it comes to trading and handling your emotions.

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Quote from: EarnOnVictor on August 03, 2023, 05:58:38 AM

These are;

1. Strategy/System
2. Management
3. Psychology

This just hits the nail on the head and obviously a well thought out reply. If I understand correctly, Strategy/System has to do with technical analysis, maybe not entirely but it should be. Management can't be underestimated because it's a bumpy road and having good management skills might be key to effectively managing one's trade incase it doesn't go their way and Psychology covers all of emotions, discipline and what not.

Pursuing mastery of all three things should be mastery of trading.

Dr.Bitcoin_Strange

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A trader must have all the qualities of a real trader before they can maximise profits in their trading. Having just one quality and not the other can really affect one's trading success. When talking about patients, some times the market can take a big swim against you, but depending on your level of asset, if your asset is not yet liquidated, you can have some patients believe that after some minutes the market can still Begin to recover, but when someone is too hasty for that trade, they can quickly cancel the trade, meaning they are not even sure they will make a profit at the end of the trade. Then, trading with emotions can also cause a trade to experience more losses. I don't really think that if a trader lacks any of those qualities, they can lose even 50% of their trades.

Topic: ~If you must trade~ - page 5. (Read 846 times)