Peace of mind, the best trading strategy! - page 2.

Hamza2424

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Quote from: cryptoaddictchie on November 09, 2024, 10:14:36 AM

Quote from: Hamza2424 on November 07, 2024, 01:31:13 PM

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

Probably a normal psychologist can talk him/her out to discipline a trader since that is their work, to work on the minds of the unsettle. Trading is like a gambling if you cant control yourself, it could lead to a tragic loss. Whats more it can eat you alive or rendered you helpless with your decision.

Haha don't mind in general your comment fits perfectly still you've unlocked a new fear for me trading is like gambling, and also buddy a tip to avoid spelling mistake is Grammarly or any other tool that you can use.

I was also lazy with spelling and from a long time I've been using grammar tools to make discussions efficient and helpful as this what our motive is.

Quote from: Cryptmuster on November 08, 2024, 03:17:04 AM

Yes, I also thought that the topic would be about the need to make all decisions carefully, something on the verge of yoga in trading. ))

But it just turned out to be another topic about nothing, a little about elections, a little about timeframes and decisions based on news. It would be closer to the title if the emotional side of trading was discussed, but there have already been enough such topics here, and without this, it is clear that you need to trade in a calm state, emotions are always harmful, not only in trading but also in other areas of our lives. And timeframes have nothing to do with it (this is for the OP), this is just a choice for the convenience of your trading strategy, nothing more...

Hmmm this is what mostly happens particularly in this section as I've been here for quite some time, there are also cyclical narratives for topics haha, like sometimes a cycle of trading tips sets its ATh than AI in trading that trading bots than this and that.

I would love topics like trading achievements, new strategies people's experiences their stories.

Quote from: ? on November 08, 2024, 05:28:44 AM

I don't think that a psychologist is needed to trade well, you need a good community to exchange thoughts and emotions, sure, but practice brings what's needed, in my regard, in my opinion.
It all boils down to practice, knowledge, and determination.

Buddy, it was just a teasing comment in a friendly mode about the topic title, in order to make Op realize that the topic subject should be related to the content, and to attract relevant discussion for the emotional side of the trader.

coolcoinz

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That's why rich people often make money why the poor get screwed over and over.
The poor chase losses, they need to earn some money or risk going into debt or worse, the rich don't. They can wait if the conditions to make a good trade aren't satisfactory.

There's also another thing. New traders often enter in a late bull or bear phase and think it's so easy to trade when FOMO or despair hit the market. They make the same trade over and over and it always goes well and they think they're good and trading is easy. Don't make that mistake!
It's important to stay calm and focused. You're not good because you made some money. You're good when the market shifts and you can anticipate it and be careful not to overextend.

Gladitorcomeback

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Quote from: fikrett on November 12, 2024, 04:58:42 AM

Some things are also just easier said than done.
Emotions are a quirky thing, and it takes practice to control them for real.
Everybody of us should strive to be self-disciplined while going for a trading session. Especially on a market like we have now.

Agreed. It is challenging to control your emotions, especially when it comes to matters where finances are involved. We often see people losing control when they are gambling. Once they lose some money, they try to recover their losses, and in that pursuit, they lose everything else that they had left. The same can be the outcome if we do that in trading because, as they say, haste makes waste. So if you don't take your steps carefully, you will fall in the dark, and it will be challenging to come out of it.

It's important for traders to be patient so that they don't chase their losses. When you lose money, you should have the mindset that you are going to recover it, but you won't get nervous or try to do it right in the next trade you make because that will make you make quick decisions, and when you do that, you often oversee the negative outcomes.

So, patience is one of the most crucial things to have as a trader.

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Quote from: Zoomic on November 10, 2024, 08:41:12 AM

I think the OP is talking about staying calm and not getting caught up in the market noise. This could also be translated to mean putting our emotions under control always. Most traders overreact to every news which often leads to them making some decisions which are not neccessary. If you have a good strategy that works for you, all you need do is remain focused and patient. Changing plans unnecessarily might cost alot if the trader is not lucky.

Being calm can help you alot when trading, there are some decisions that we do not have to take them instantly but we should wait and watch the market more before taking the decision so you do not enter the market too early or exist with a wrong timing. Patience is necessary for all traders to have, a trader should be smart and have the ability to learn and adopt fast to changing trends. Right now memecoins are doing very well and as a trader, you are supposed to be taking advantage of that by trading them to make profits. When it comes to investing, you can do your research properly and avoid some types of projects but for trading that the profit is the most important thing, taking advantage of trends can make you lots of profits.

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This is why I am mostly a holder, I do not really change that easily neither, I like the way things are and I am not going to make any thing change any time soon. I know that holding is a lot better and we are going to see this be the default way people invest as well.

Not that trading is wrong, of course you can trade, but holding is simple and easy, so there is no reason why we should not be doing this. I get that we can see some changes here and there, as long as we do fine, it won't be an issue to keep holding. Stress and anxiety makes someone ill, and when you are trading you have a lot of stress, instead when you hold there is none of that and you feel much more comfortable and make a lot more money instead.

fikrett

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Quote from: 348Judah on November 11, 2024, 04:27:10 PM

How can we have peace of mind when we are not being profitable about the way we are trading, this also have a lot to do with the pattern being used, the risk we afford to take and how well equipped we are in learning the trading skills before starting, all these are going to count whether we like it or not, some that overlooked them eventually fails along the way, we are the ones to make provisions for things that are goint to give us peace of mind and not that we expect it from somewhere else.

Some things are also just easier said than done.
Emotions are a quirky thing, and it takes practice to control them for real.
Everybody of us should strive to be self-disciplined while going for a trading session. Especially on a market like we have now.

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Quote from: Josefjix on November 11, 2024, 09:48:31 PM

Quote from: tvplus006 on November 11, 2024, 12:36:53 PM

Quote from: Josefjix on November 07, 2024, 12:07:44 PM

...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.

If the risk management strategy is followed, it will not matter on which timeframe you trade and at the same time you will remain in peace of mind. But if you trade with a lot of leverage, then even on a long timeframe you will not find peace of mind.

Having a clear view of the trend is very important and that is what long term timeframes such as daily, weekly and monthly candlesticks can significantly enhanced our understanding of market movements and conditions. For example, daily candlestick for the past 7 days are green and that shows a very clear up trend but if you look at 15 minute timeframes you can see several over bought conditions.

It's always better to look at the bigger picture, in my opinion.
The bigger trend will always outshine the one that is seen on a smaller scale.

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Quote from: tygeade on November 12, 2024, 12:15:00 AM

Quote from: Ricardo11 on November 11, 2024, 12:57:22 PM

it is important to keep our mind calm during trading, because if our mind is calm, we can better research the trading strategies and take the right decisions and depend on confidence which helps us to adopt the right decisions and the right strategies. Because it reduces our stress while making any decision. When we sit down to do a task with a calm mind, we can fully focus on that task and we succeed in that task most of the time. And especially it is very necessary in trading, because in trading we lose all our money because of a little wrong research, so if we research calmly in trading we can take the right decision and as a result the risk of losing money is also reduced to a large extent.

It's true that keeping ourselves calm is very important, but I also believe that's not an easy thing to do neither. People know about how it is important to not trade with emotions, and yet they are failing at keeping their emotions at bay, they keep on trading like it's something that is getting too much crowd, and their mind gets too chaotic and they make mistakes.

Having a mind that doesn't stop worrying is a common thing in humans, we worry about things that doesn't even happen, anxiety is one of the most common illnesses in the world these days, so telling these people to trade while being calm isn't easy, they know what they should do, they are just incapable of doing it, and it's understandable as well.

When a person trades with emotions in his head, the market becomes a predator for such behavior.
And it punishes it heavily.
So in order to get a hold of our funds, we should always have a hold of our emotions in order for our trading sessions to be successful.

FortuneFollower

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Quote from: EarnOnVictor on November 12, 2024, 04:30:46 AM

I quite understand your psychology here, except that you misrepresent the situation or the right term. You are actually referring to "patience" and "not peace of mind." Peace of mind itself is a virtue and it's psychological towards being fulfilled with your action, but what you explained doesn't portray that. However, being patient with the nature of Bitcoin and only trading when factors like the cycle, important events like the ETF and the US election unfold to impact the market in such a way that will earn you almost certain income is a smart idea. It is our choice still and it will always depending on our capability for trading and investment.

Everybody has their own metrics and factors to consider - after all, it all boils down to if we made profit or not.
And patience + having a clear goal in mind sure will help anybody in that, that's the truth.

EarnOnVictor

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I quite understand your psychology here, except that you misrepresent the situation or the right term. You are actually referring to "patience" and "not peace of mind." Peace of mind itself is a virtue and it's psychological towards being fulfilled with your action, but what you explained doesn't portray that. However, being patient with the nature of Bitcoin and only trading when factors like the cycle, important events like the ETF and the US election unfold to impact the market in such a way that will earn you almost certain income is a smart idea. It is our choice still and it will always depending on our capability for trading and investment.

tygeade

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Quote from: Ricardo11 on November 11, 2024, 12:57:22 PM

it is important to keep our mind calm during trading, because if our mind is calm, we can better research the trading strategies and take the right decisions and depend on confidence which helps us to adopt the right decisions and the right strategies. Because it reduces our stress while making any decision. When we sit down to do a task with a calm mind, we can fully focus on that task and we succeed in that task most of the time. And especially it is very necessary in trading, because in trading we lose all our money because of a little wrong research, so if we research calmly in trading we can take the right decision and as a result the risk of losing money is also reduced to a large extent.

It's true that keeping ourselves calm is very important, but I also believe that's not an easy thing to do neither. People know about how it is important to not trade with emotions, and yet they are failing at keeping their emotions at bay, they keep on trading like it's something that is getting too much crowd, and their mind gets too chaotic and they make mistakes.

Having a mind that doesn't stop worrying is a common thing in humans, we worry about things that doesn't even happen, anxiety is one of the most common illnesses in the world these days, so telling these people to trade while being calm isn't easy, they know what they should do, they are just incapable of doing it, and it's understandable as well.

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Quote from: tvplus006 on November 11, 2024, 12:36:53 PM

Quote from: Josefjix on November 07, 2024, 12:07:44 PM

...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.

If the risk management strategy is followed, it will not matter on which timeframe you trade and at the same time you will remain in peace of mind. But if you trade with a lot of leverage, then even on a long timeframe you will not find peace of mind.

Having a clear view of the trend is very important and that is what long term timeframes such as daily, weekly and monthly candlesticks can significantly enhanced our understanding of market movements and conditions. For example, daily candlestick for the past 7 days are green and that shows a very clear up trend but if you look at 15 minute timeframes you can see several over bought conditions.

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Quote from: Rampagoe004 on November 10, 2024, 09:20:36 AM

This is the most basic thing in trading without being based on good thinking, this is the beginning of failure in trading. Indicators like this have been discussed a lot before. If we are traders, we definitely know what will make a profit in trading.

When you are at the right state of mind then that way you will be able to control your emotions because that is one of the major problems that people face, so if that can be controlled because a lot of people even get discouraged just because they did not or refuse to learn to manage their emotions well. The more you are prepared mentally the more it is easy for you to learn, because if the mind is not open then their is no way that you will be able to learn.

Quote

I hope there is a different strategy, whether long term or short, that can give me bigger profits in trading, trading with a good mind does not necessarily produce results because prices are always fluctuating and active all the time.

And after mental and emotional preparation then you will have to decide which exactly you want to do or you can try everything out then find a way of choosing the one that works for you best, because the earlier you find it out before you become master of all trade and master of non you have to focus on a particular pattern that is best for you. Trading as a lot of techniques and strategy.

348Judah

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How can we have peace of mind when we are not being profitable about the way we are trading, this also have a lot to do with the pattern being used, the risk we afford to take and how well equipped we are in learning the trading skills before starting, all these are going to count whether we like it or not, some that overlooked them eventually fails along the way, we are the ones to make provisions for things that are goint to give us peace of mind and not that we expect it from somewhere else.

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Quote from: bettercrypto on November 11, 2024, 09:45:14 AM

Having peace of mind can help a trader, I know. But I can't think that this is a strategy for individual traders. Because peace of mind is different from the strategy used in trading. Because peace of mind does not require the use of technical or fundamental analysis, remember that OP.

Because having peace of mind is part of our personality and character being as we are. Therefore, the trading strategy is only based on indicators, while peace of mind does not revolve around that angle. Well, of course this is for my own assessment only.

I agree with you that it is important to keep our mind calm during trading, because if our mind is calm, we can better research the trading strategies and take the right decisions and depend on confidence which helps us to adopt the right decisions and the right strategies. Because it reduces our stress while making any decision. When we sit down to do a task with a calm mind, we can fully focus on that task and we succeed in that task most of the time. And especially it is very necessary in trading, because in trading we lose all our money because of a little wrong research, so if we research calmly in trading we can take the right decision and as a result the risk of losing money is also reduced to a large extent.

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Quote from: Josefjix on November 07, 2024, 12:07:44 PM

...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.

If the risk management strategy is followed, it will not matter on which timeframe you trade and at the same time you will remain in peace of mind. But if you trade with a lot of leverage, then even on a long timeframe you will not find peace of mind.

bettercrypto

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Having peace of mind can help a trader, I know. But I can't think that this is a strategy for individual traders. Because peace of mind is different from the strategy used in trading. Because peace of mind does not require the use of technical or fundamental analysis, remember that OP.

Because having peace of mind is part of our personality and character being as we are. Therefore, the trading strategy is only based on indicators, while peace of mind does not revolve around that angle. Well, of course this is for my own assessment only.

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Quote from: Jody.Drummer on November 11, 2024, 08:04:23 AM

Quote from: Rampagoe004 on November 10, 2024, 09:20:36 AM

This is the most basic thing in trading without being based on good thinking, this is the beginning of failure in trading. Indicators like this have been discussed a lot before. If we are traders, we definitely know what will make a profit in trading.
I hope there is a different strategy, whether long term or short, that can give me bigger profits in trading, trading with a good mind does not necessarily produce results because prices are always fluctuating and active all the time.

Trading with a good mind is something we must do, because I understand it as trading with a calm mind. Trading with a chaotic mind is not recommended, because it will make our analysis not run as it should.
For example, when we feel a loss, we are advised to take a break to calm our minds, because when we have to force ourselves, then maybe emotions will control us, because our minds are still left behind in the losses we just got before.
While in good thinking or in a calm mind, we can be broader in viewing a market because our emotions will be more stable than trading with a chaotic mind.

I have to agree that trading with so much doubt and confusion will only lead to series of losses and failure. More than knowledge and good thinking, skills and working strategies, it’s also crucial to trade with a peace of mind. Not only you can manage your emotions, but you can also avoid distractions and fully focus on your plans and goals. While trading is quite complex, then the more that you have to develop peace internally so you will be more guided and become highly successful when trading.

Jody.Drummer

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Quote from: Rampagoe004 on November 10, 2024, 09:20:36 AM

This is the most basic thing in trading without being based on good thinking, this is the beginning of failure in trading. Indicators like this have been discussed a lot before. If we are traders, we definitely know what will make a profit in trading.
I hope there is a different strategy, whether long term or short, that can give me bigger profits in trading, trading with a good mind does not necessarily produce results because prices are always fluctuating and active all the time.

Trading with a good mind is something we must do, because I understand it as trading with a calm mind. Trading with a chaotic mind is not recommended, because it will make our analysis not run as it should.
For example, when we feel a loss, we are advised to take a break to calm our minds, because when we have to force ourselves, then maybe emotions will control us, because our minds are still left behind in the losses we just got before.
While in good thinking or in a calm mind, we can be broader in viewing a market because our emotions will be more stable than trading with a chaotic mind.

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Quote from: Josefjix on November 07, 2024, 12:07:44 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.

This is the most basic thing in trading without being based on good thinking, this is the beginning of failure in trading. Indicators like this have been discussed a lot before. If we are traders, we definitely know what will make a profit in trading.
I hope there is a different strategy, whether long term or short, that can give me bigger profits in trading, trading with a good mind does not necessarily produce results because prices are always fluctuating and active all the time.

Topic: Peace of mind, the best trading strategy! - page 2. (Read 747 times)