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Topic: Peace of mind, the best trading strategy! (Read 1616 times)

sr. member
Activity: 966
Merit: 391
Underestimate- nothing
December 20, 2024, 05:21:21 PM
Peace of mind is very important and can help us become a better trader if we don't take money from people to trade in the market. I have seen friends entering into debts because they are too confident about the market and their strategies, going far as getting money from families and clients, trading for them why getting their cuts. We ought to learn the habit of gambling with our own funds so if anything happens along the way, we can bear the loses without having to be panicking about paying clients money. Experienced traders are attest to this which has ruined the lives of many traders because they believe they can trade with confidence making profits from the market.

When a person have of  peace of mind whatever the person is doing, we definitely succeeded and that is why we had to rate Peace of mind should be one of the main thing that should be considered in the person's life, if the piece of mind is there even trading should be made easy, but if  the mind is divided then the challenge have just increased and the more , people enter a lot of trouble because of that confidence and this is an open market that can accommodate anything so the consciousness have to be there if not, you'll get lost and you might find yourself in more problems so it's better to open your eye and not to get too excited when trading.

I have heard of news how people lost their money and their friends money or other people's money just because of our confident they are in making money in the market. The best thing anyone can do is to transport as possible to follow the right step when it comes to Trading the other possibilities that are putting in place for example using the top loss, takeprofit. And setting the leverage, this are most of the conditions that we won't worry about. Going to debt while trading is dangerous holding is much more better.
jr. member
Activity: 60
Merit: 1
December 20, 2024, 05:31:05 AM
Hmm, I was expecting something else from this topic, I was thinking that here Op is gonna showcase some of the tips to maintain the peace of mind in order to take better decisions haha I know I'm using the recurrent information still.

Is there any psychologist who can help traders to train their sub-conscious minds and make decision-making more sharp and efficient?

Here are some little ideas I have on tips to maintain your peace of mind in trading.

You can maintain peace of mind by:
managing your emotion you need to control your emotion don't let your emotions control your decision, always stay calm before taking any decision to avoid making the wrong decision. sometimes, you need to exercise and meditate your body to free yourself from stress. Make your health your priority make sure you are physically and mentally fit. associate with a professional Trader or a mentor that will guide, support and motivate you on trading. Focused and concentrate on trading objectives, and  stick to strategy that suits you, don't let anything distract you. By following these tips, you will be able to maintain your peace of mind and you will be able to make right decisions, without being controlled by your emotions.
jr. member
Activity: 60
Merit: 1
December 20, 2024, 05:01:54 AM
Peace of mind is essential for traders, as it enables them to make informed decisions. A calm and focused mindset allows traders to think critically and rationally, leading to better decision-making. Additionally, traders must continually improve their technical and fundamental analysis skills to make well-informed trading choices. Dedication and commitment to the craft of trading are also crucial for achieving success in this field.
hero member
Activity: 1064
Merit: 589
December 19, 2024, 09:57:22 AM
Calmness is very important in trading, because it will affect the decisions we will take. Once we are affected by emotions, everything will fall apart. It is better when we feel uneasy or start to feel anxious, it is better for us to stop for a moment to restore unstable emotions. Some people experience losses not because they lack knowledge, sometimes they experience big losses because they force themselves to continue trading when emotions are unstable. Although we can be said to be able to recognize emotions, sometimes emotions come suddenly and will be very difficult for us to control, the choice is to stop for a moment.
In fact, while trading, how much more you calm keep your mind relax, you can able to do better research the market and trade fully correctly. Because in order to apply the right market research and the right strategy in trading, you must first keep your mind calm. Because if your mind is not calm, you can make mistakes in market research, and if the market research is wrong, you cannot use the right strategy, as a result you will have to face losses.
And during trading, you must have a tendency to stop at any moment, because when a trader loses, many traders continue to trade emotionally, not caring about how much they have lost, as a result they end up facing losses beyond their capacity.
So you must develop the habit of stopping at any moment, because this can save a trader from suffering big losses.
That's the point, even in any case, peace of mind will greatly affect the decisions that will be taken. I will take an example in sports, for example football. When a player is emotional, then the player will no longer be able to carry out a strategy that has been prepared well, even that will affect other players too. That's why we know in football that usually opponents will provoke emotions, because that will make them no longer focus on the match. Well, this will be the same in trading too, even though we are alone, but emotions will be caused by many factors, one of which is because in the previous trade we experienced a loss, maybe it was also an external problem that was still remembered so that it triggered uncontrolled emotions.
hero member
Activity: 2968
Merit: 687
December 18, 2024, 08:35:28 PM

Peace of mind is very important and can help us become a better trader if we don't take money from people to trade in the market. I have seen friends entering into debts because they are too confident about the market and their strategies, going far as getting money from families and clients, trading for them why getting their cuts. We ought to learn the habit of gambling with our own funds so if anything happens along the way, we can bear the loses without having to be panicking about paying clients money. Experienced traders are attest to this which has ruined the lives of many traders because they believe they can trade with confidence making profits from the market.

One of the reasons why peace of mind is very important for a trader to have is because trading is a decision-making activity where a calm mind can prevent you from feeling doubtful when you want to open a trade, on the other hand, I think feeling confident is a good ability that a trader must have, but that's also if for example you trade using a strategy or skill and not acting carelessly, the benefit is so that we don't miss the right moment when we should have opened a trading position.

Trade with the amount of money we can afford to lose? of course, because basically trading is still a risky activity where when you can't accept losses, there is a possibility for you to lose more money due to chasing previous losses, and actually trading with an amount that is ready to be lost is also one of the best plans that will help us to be calmer when trading.
The point is, if for example you do trade by relying on a strategy that you think is good, then there should be no doubt for you to open a trade, especially when you find the right moment, and if for example in the end you lose, then that's a natural thing.
Panicking will never ever be doing no good not only just on trading or investing but also in other things in lide on which you would really be needing up to have that clear mind for you to be able to make yourself to make good decisions and not something that in result when you are on boggled or hesitance due to some reasons. Nothing beats out if you do have that clear mind on which you can be able to think up well and act accordingly into the things that you've been dealing with. Actually this kind of thing should really be standard because investing isnt something that will be a smooth sail ride or giving out that guarantee that you can make money.

In making strategies then it will really be that a trial and error because we are the ones who will really be finding out on which strategies will be giving out some positive results but of course not an assured thing because there's no strategy that works everytime and thats why we do make out adjustments accordingly basing up into the market condition on which this will really be testing out our knowledge and skills accordingly. There are really just that those people who are really that rushing up too much and becomes greedy and thats why they do really end up on having some issues or mistakes later on.
legendary
Activity: 2268
Merit: 1655
To the Moon
December 18, 2024, 03:29:37 PM
...But if you are focused on your trading activity, even if you don't have peace of mind, but you know what you are doing, you can still for sure make a correct analysis of your trading activity.

Proper analysis will not be crucial if the trader does not strictly adhere to risk management. This is exactly what will help to maintain peace of mind no matter which way the price moves.
hero member
Activity: 1106
Merit: 912
Not Your Keys, Not Your Bitcoin
December 18, 2024, 11:55:36 AM
Actually, whether the timeframe of the indicator is 15 minutes, 30 minutes, 1 hour or 4 hours and 1 day depends on whether you understand the indicator well. Now I have a 15 minute indicator but I can't really predict which direction the candles will go next. For those who can predict the indicator correctly, a 15 minute, 30 minute or 1 hour indicator will bring good results on the trading platform. The trading platform does not seem very easy to me. The trading platform is very difficult but if you can gain experience in trading, trading will be easy.

Why will you use 15 minutes time frame to trade in the first place when you are not a 10 minutes perpetual trader, it's really risky because you will never see where there is major resistance and supports and also local resistance in the other time frame. Even if you are scalping, the best and least you can enjoy in time frame is 60 minutes and also 4 hours, you can use 8$12 hours for to confirm supports and resistance so you don't get caught up on your trade.

In a bull run, I don't advice people to scalp when the market is too good to be making profits. If you have been doing long term trading since October to now and you have been using high liquid pairs, the numbers of orders that you will have in profits to now will be far bigger than what you have lost because there has not been any major crash of the coin prices, if you have been doing only Bitcoin and USD pairs, you should be having high cumulative profits by now.
legendary
Activity: 1904
Merit: 1176
Glory To Ukraine! Glory to the heroes!
December 18, 2024, 03:20:46 AM
With peace of mind, we can make best trading decisions. I have tested almost every technical indicators and also tried to get the latest news and fundamentals informations about cryptocurrency in other to make informed trading decisions. but, today I have read most of the news and the forthcoming"us federal funds rate and fomc statement" which always creates great indecision in the market. I discover that this is the first time in more than 7 months now that i did not worry about what happened during fomc meeting.  The usa elections have given direction to the markets and people are not even bothered on the outcome of the meeting.  Peace every were in the market and I think that is what we need to make a good trading decisions.
Moreover,  i also discovered that almost all the indicators work best on the long timeframe like weekly or monthly timeframes. If you want making trading decisions with peace of mind? trade only on those timeframes with any indicator and you will make money.

It would be good not only for trading, in many areas of our life stress can affect us, our mood, our decisions, so it would be very good if we could control our emotions and find a neutral balance in our minds. But unfortunately this does not always happen the way we want it to. By the way, I have noticed this for a long time. That more emotionally balanced traders achieve better results than impulsive people, so yes, it makes sense.
sr. member
Activity: 364
Merit: 195
WOLFBET.COM - Exclusive VIP Rewards
December 17, 2024, 09:57:07 AM
Moreover,  i also discovered that almost all the indicators work best on the long timeframe like weekly or monthly timeframes. If you want making trading decisions with peace of mind? trade only on those timeframes with any indicator and you will make money.
What that matters is what trader are you.

Scalpers will prefer to use the 15 minutes candles instead. But day traders will prefer the 4 hours candles. Swing traders will prefer the 4 hours to a day or 1 week candles. Holders will prefer the monthly candles also.
Actually, whether the timeframe of the indicator is 15 minutes, 30 minutes, 1 hour or 4 hours and 1 day depends on whether you understand the indicator well. Now I have a 15 minute indicator but I can't really predict which direction the candles will go next. For those who can predict the indicator correctly, a 15 minute, 30 minute or 1 hour indicator will bring good results on the trading platform. The trading platform does not seem very easy to me. The trading platform is very difficult but if you can gain experience in trading, trading will be easy.
legendary
Activity: 2716
Merit: 1092
Leading Crypto Sports Betting & Casino Platform
December 17, 2024, 05:35:14 AM

Peace of mind is very important and can help us become a better trader if we don't take money from people to trade in the market. I have seen friends entering into debts because they are too confident about the market and their strategies, going far as getting money from families and clients, trading for them why getting their cuts. We ought to learn the habit of gambling with our own funds so if anything happens along the way, we can bear the loses without having to be panicking about paying clients money. Experienced traders are attest to this which has ruined the lives of many traders because they believe they can trade with confidence making profits from the market.

One of the reasons why peace of mind is very important for a trader to have is because trading is a decision-making activity where a calm mind can prevent you from feeling doubtful when you want to open a trade, on the other hand, I think feeling confident is a good ability that a trader must have, but that's also if for example you trade using a strategy or skill and not acting carelessly, the benefit is so that we don't miss the right moment when we should have opened a trading position.

Trade with the amount of money we can afford to lose? of course, because basically trading is still a risky activity where when you can't accept losses, there is a possibility for you to lose more money due to chasing previous losses, and actually trading with an amount that is ready to be lost is also one of the best plans that will help us to be calmer when trading.
The point is, if for example you do trade by relying on a strategy that you think is good, then there should be no doubt for you to open a trade, especially when you find the right moment, and if for example in the end you lose, then that's a natural thing.
hero member
Activity: 3220
Merit: 678
www.Crypto.Games: Multiple coins, multiple games
December 17, 2024, 04:18:52 AM
When they do it with the right strategy, it doesn't matter where your budget comes from. The problem is, the market is so risky that sometimes it doesn't line up with what we expect. The expected profits can be obtained if we do it with a strategy, but don't set high limits because that can be difficult. When profits have been made, you must be disciplined in your strategy so that you have a greater chance of accumulating the budget to pay back the loan.

But of course, it is not recommended for anyone to trade on a borrowed budget. We never know what will happen in the market, so it's best to avoid trading on a borrowed budget. I personally would not take a loan to trade, but if there is an agreement, then I would probably consider a certain limit by mutual agreement (cooperation).
If you know what you are doing then you are going to end up with a lot better result for sure, that's the most important part and we can definitely consider this to be a great deal, we need to consider this to be a profitable business without a doubt.

I believe we can make this work if the market is bear, or bull, as long as we have the right strategy for each market. Remember, we have short futures right now, which means that if the price goes down, then you can short it before and that could make you a lot of profit as well, so doing that is the most important part. So at the end of the day, having a proper strategy could get you profit on bear or bull market regardless. This definitely the most important part.
hero member
Activity: 1540
Merit: 772
December 16, 2024, 01:50:41 PM

Peace of mind is very important and can help us become a better trader if we don't take money from people to trade in the market. I have seen friends entering into debts because they are too confident about the market and their strategies, going far as getting money from families and clients, trading for them why getting their cuts. We ought to learn the habit of gambling with our own funds so if anything happens along the way, we can bear the loses without having to be panicking about paying clients money. Experienced traders are attest to this which has ruined the lives of many traders because they believe they can trade with confidence making profits from the market.
When they do it with the right strategy, it doesn't matter where your budget comes from. The problem is, the market is so risky that sometimes it doesn't line up with what we expect. The expected profits can be obtained if we do it with a strategy, but don't set high limits because that can be difficult. When profits have been made, you must be disciplined in your strategy so that you have a greater chance of accumulating the budget to pay back the loan.

But of course, it is not recommended for anyone to trade on a borrowed budget. We never know what will happen in the market, so it's best to avoid trading on a borrowed budget. I personally would not take a loan to trade, but if there is an agreement, then I would probably consider a certain limit by mutual agreement (cooperation).
hero member
Activity: 1190
Merit: 543
fillippone - Winner contest Pizza 2022
December 16, 2024, 01:38:48 PM
Hmm, I was expecting something else from this topic, I was thinking that here Op is gonna showcase some of the tips to maintain the peace of mind in order to take better decisions haha I know I'm using the recurrent information still.

Thinking the same things from the subject of the topic, I thought the content would suit the subject, but it’s not. Although as a trader, peace of mind is also what matters while trading because without that, I don’t think a trader will take profit from the trading.

Quote
Is there any psychologist who can help traders to train their sub-conscious minds and make decision-making more sharp and efficient?

I don’t think so; trading is something different. It is not a normal case that a psychologist can solve. This is all about the knowledge and understanding of trading, and if a trader knows the risk and every part of trading, then definitely he should maintain his peace of mind before he enters the market and starts trading, and if he can’t, then definitely that trader is not yet qualified as a trader; he needs to work on that before he trades.

As far as I know, according to my experience, even if we have peace of mind, if you don't have enough knowledge in trading, it's useless to have it. Even if we say that we have extensive knowledge in trading and you have peace of mind, if you are out of focus, it's still useless.

But if you are focused on your trading activity, even if you don't have peace of mind, but you know what you are doing, you can still for sure make a correct analysis of your trading activity.
Peace of mind is very important and can help us become a better trader if we don't take money from people to trade in the market. I have seen friends entering into debts because they are too confident about the market and their strategies, going far as getting money from families and clients, trading for them why getting their cuts. We ought to learn the habit of gambling with our own funds so if anything happens along the way, we can bear the loses without having to be panicking about paying clients money. Experienced traders are attest to this which has ruined the lives of many traders because they believe they can trade with confidence making profits from the market.
full member
Activity: 532
Merit: 229
December 16, 2024, 09:50:48 AM
When you trade with an amount you can afford to lose, your emotions will always be in check, and as such, your peace is secured, you wouldn't be making outrageous emotional decisions that may warrant you to start losing money.
It's good to think of it before a beginning but it doesn't mean you will feel good when you are facing loss or complete loss of your original trading capital. It's never easy for new traders to afford losing all original capital. This lead to another wrong thinking to "Revenge the market" that results in more losses.

Newbies can start with a good thinking "afford to lose trading capital" but in actual trading, emotion and psychology will be so hard to control and will affect trading decisions. Newbies have to trade a lot to control emotion and psychology, it's only achieveable with time and experience. If you feel it is hard to achieve, just DON't trade.
Calmness is very important in trading, because it will affect the decisions we will take. Once we are affected by emotions, everything will fall apart. It is better when we feel uneasy or start to feel anxious, it is better for us to stop for a moment to restore unstable emotions. Some people experience losses not because they lack knowledge, sometimes they experience big losses because they force themselves to continue trading when emotions are unstable. Although we can be said to be able to recognize emotions, sometimes emotions come suddenly and will be very difficult for us to control, the choice is to stop for a moment.
In fact, while trading, how much more you calm keep your mind relax, you can able to do better research the market and trade fully correctly. Because in order to apply the right market research and the right strategy in trading, you must first keep your mind calm. Because if your mind is not calm, you can make mistakes in market research, and if the market research is wrong, you cannot use the right strategy, as a result you will have to face losses.
And during trading, you must have a tendency to stop at any moment, because when a trader loses, many traders continue to trade emotionally, not caring about how much they have lost, as a result they end up facing losses beyond their capacity.
So you must develop the habit of stopping at any moment, because this can save a trader from suffering big losses.
sr. member
Activity: 1498
Merit: 271
DGbet.fun - Crypto Sportsbook
December 16, 2024, 09:33:25 AM
Hmm, I was expecting something else from this topic, I was thinking that here Op is gonna showcase some of the tips to maintain the peace of mind in order to take better decisions haha I know I'm using the recurrent information still.

Thinking the same things from the subject of the topic, I thought the content would suit the subject, but it’s not. Although as a trader, peace of mind is also what matters while trading because without that, I don’t think a trader will take profit from the trading.

Quote
Is there any psychologist who can help traders to train their sub-conscious minds and make decision-making more sharp and efficient?

I don’t think so; trading is something different. It is not a normal case that a psychologist can solve. This is all about the knowledge and understanding of trading, and if a trader knows the risk and every part of trading, then definitely he should maintain his peace of mind before he enters the market and starts trading, and if he can’t, then definitely that trader is not yet qualified as a trader; he needs to work on that before he trades.

As far as I know, according to my experience, even if we have peace of mind, if you don't have enough knowledge in trading, it's useless to have it. Even if we say that we have extensive knowledge in trading and you have peace of mind, if you are out of focus, it's still useless.

But if you are focused on your trading activity, even if you don't have peace of mind, but you know what you are doing, you can still for sure make a correct analysis of your trading activity.
hero member
Activity: 1064
Merit: 589
December 16, 2024, 08:44:16 AM
When you trade with an amount you can afford to lose, your emotions will always be in check, and as such, your peace is secured, you wouldn't be making outrageous emotional decisions that may warrant you to start losing money.
It's good to think of it before a beginning but it doesn't mean you will feel good when you are facing loss or complete loss of your original trading capital. It's never easy for new traders to afford losing all original capital. This lead to another wrong thinking to "Revenge the market" that results in more losses.

Newbies can start with a good thinking "afford to lose trading capital" but in actual trading, emotion and psychology will be so hard to control and will affect trading decisions. Newbies have to trade a lot to control emotion and psychology, it's only achieveable with time and experience. If you feel it is hard to achieve, just DON't trade.
Calmness is very important in trading, because it will affect the decisions we will take. Once we are affected by emotions, everything will fall apart. It is better when we feel uneasy or start to feel anxious, it is better for us to stop for a moment to restore unstable emotions. Some people experience losses not because they lack knowledge, sometimes they experience big losses because they force themselves to continue trading when emotions are unstable. Although we can be said to be able to recognize emotions, sometimes emotions come suddenly and will be very difficult for us to control, the choice is to stop for a moment.
sr. member
Activity: 966
Merit: 306
December 16, 2024, 05:24:31 AM
When you trade with an amount you can afford to lose, your emotions will always be in check, and as such, your peace is secured, you wouldn't be making outrageous emotional decisions that may warrant you to start losing money.
It's good to think of it before a beginning but it doesn't mean you will feel good when you are facing loss or complete loss of your original trading capital. It's never easy for new traders to afford losing all original capital. This lead to another wrong thinking to "Revenge the market" that results in more losses.

Newbies can start with a good thinking "afford to lose trading capital" but in actual trading, emotion and psychology will be so hard to control and will affect trading decisions. Newbies have to trade a lot to control emotion and psychology, it's only achieveable with time and experience. If you feel it is hard to achieve, just DON't trade.
hero member
Activity: 938
Merit: 605
Leading Crypto Sports Betting & Casino Platform
December 16, 2024, 04:49:14 AM
Moreover,  i also discovered that almost all the indicators work best on the long timeframe like weekly or monthly timeframes. If you want making trading decisions with peace of mind? trade only on those timeframes with any indicator and you will make money.
When you trade with an amount you can afford to lose, your emotions will always be in check, and as such, your peace is secured, you wouldn't be making outrageous emotional decisions that may warrant you to start losing money.

Do you know that you might be very much certain of a trading set-up but once your emotions is rattled, you wouldn't be at peace and you might even doubt your analysis which might make you pull the plug and pulling out with a loss, in a trade you would have won if you had  stayed a little bit longer.

So in essence, what am trying to say is that without your emotions in check, you can never be at peace, that's why it's important to trade with only what you can afford to lose.
legendary
Activity: 2716
Merit: 1092
Leading Crypto Sports Betting & Casino Platform
December 15, 2024, 07:50:05 PM
Yup, that's right, I agree with that and this is the reason why mentality and psychology are very important in trading, because after all trading is a decision-making activity that will indirectly determine whether you will profit or otherwise, and I will also say that even though you have a pretty good strategy, sometimes it can also be useless if you don't have a good mentality, because often a trader feels very hesitant when they want to open a position even though their strategy is correct or certain to be applied to the market situation at that time, I have also experienced it when I was still quite a beginner in trading.
So actually trading is quite complicated, you must have a lot of knowledge and also other things because it will be interrelated when you want to open a trading position.
legendary
Activity: 3094
Merit: 1127
December 14, 2024, 10:11:56 PM
With peace of mind, we can make best trading decisions. I have tested almost every technical indicators and also tried to get the latest news and fundamentals informations about cryptocurrency in other to make informed trading decisions. but, today I have read most of the news and the forthcoming"us federal funds rate and fomc statement" which always creates great indecision in the market. I discover that this is the first time in more than 7 months now that i did not worry about what happened during fomc meeting.  The usa elections have given direction to the markets and people are not even bothered on the outcome of the meeting.  Peace every were in the market and I think that is what we need to make a good trading decisions.
Moreover,  i also discovered that almost all the indicators work best on the long timeframe like weekly or monthly timeframes. If you want making trading decisions with peace of mind? trade only on those timeframes with any indicator and you will make money.
Really you tested almost every technical indicator, that's hard to believe but if you are saying so. Also news is more effective then technical indicators, as you said, like the news of elections, and the FOMC meeting did have a positive impact this time too as before the meeting result market was below $100k or few hundred less or above it. But after the meeting the results was positive and market pumped there are lot of people who trade on these sentiments.

Some trades on technical indicators, and TBH I only trade on Support and resistance and RSI, I have to learn two new indicators as well and I think they will be enough for me to trade even on daily basis. But I can't agree more with you that in the long run we get peace of mind, and in the day trading or short term we have to keep analyzing the candle again and again. Which is very tiresome, so I also avoid that and it's very risky too.
Combination will really be the key because there are market conditions that it doesnt really getting in line with technical indicators on which no matter how good your analysis would be but on the time that sudden news come out will be making out some impact, although not all news or events will really be having its significant impact towards price movement on which this is only applicable on the time or moment that you do see up some events happening around but if we do speak about assurance whether using up TA or FA then it will really be not giving out that guarantee on having that precise prediction on where prices will potentially be going. So it will really be that up to you on how you will really handling yourself with this market volatility and this is where you will be testing up your skills and knowledge on which it will really be that differ into each person when it comes into this aspect. Talking about peace of mind then this is really that needed on having that clear mind but there are instances on which it will test out our patience and temper specially on a losing condition or seeing our portfolio had become that low or in negative. Know your limits and handling up yourself on this volatile market will really be the key. You wont be able to sustain yourself if you do keep yourself that easily panic out on the time that the market will be going south, you should be that really prepared on these instances and instead of panicking, it will be ideal that you should know on how to handle yourself and with your emotions.
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