Topic: Peace of mind, the best trading strategy! - page 6. (Read 1616 times)

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.

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.

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.

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.

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.

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.

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. 

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.


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.

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.

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.

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 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 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.

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.

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.

I am not deeply routed into trading but I can sense what you mean moreover since is like the 5m to 30 minutes time frame looks so much panicking, and if you are considering using these time frame to analyzed market definitely the trader would feels so much stressed were he would want to sell immediately their is a any changes, but if doing analysis with all the timeframe it gives the trader a cutting edge to understand when market will go the opposite way or turning down so severely, but as a trader one must understand how these candle works.

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.

This does not mean that the trader would ignore all important market trends that may affect his trades, there should be a balance between his state of mind while keeping an eye on important updates. Being at peace will really be preventing him from making some impulsive decisions. Only this can make a trader stay focused and patient for a very long while.

I think otherwise though, I really do think that it's boil more down to your ability as a trader than any indicators, because for you to make the best informed decisions while trading, you just have to be at your best when it comes to controlling your emotions.

What am trying to say is that if you knows it all, from knowing how to use the technical indicators to knowing how to use your leverage properly and be good in some other trading Skills like patience and trading only the right set-up, if you knows it all, and you don't know how to control your emotions like fear and greed, all your skills will be useless, so this peace of mind you are actually talking about is what I really don't understand, because I know for a fact that in trading, regardless of your mental state, you will definitely lose if your emotions is not in check.

FOMC or any other those casual economic news on which i do really sees up these things would really be that relevant on the time or moment that you do deal up with Forex or stocks or with those traditional markets that you are really that trading on the past excluding Crypto space. Wayback there's no way that it will really be giving out that kind of significant impact in towards price movement into those previous years or market cycles or before institution funds flowing into this market on where it isnt really that affected by any news or fundamentals. It might not be having some effect but its not really always  that happening. If you've been a forex trader then you will really be that mindful about these news as these things will really be making up some unsure market  volatility on which it could really that blown up your trading account if you wont really be that careful.
There's no such thing about perfect or best strategy because anytime it could be totally be opposing on what the market is really that behaving. No matter how good it would be, there's always that chance or tendency that it will really be moving into the opposite side of things. This is why always set back plans whenever those stop loses would be hit up. Just dont make yourself that transfer on becoming a trader to a gambler because  this is where usually traders ending up on the moment that they cant control their emotions. You will really be finding the relevance on the moment that you do gain up that sufficient experience. So it will really be just that depending on you on how to deal up with that market volatility specially on crypto where everything is too unpredictable and too volatile.

Well, that's not the case always, I'm a trader myself and I believe that most good indicators work pretty well even on 1 hour to 4 hour timeframe and one can really earn good profits by mastering the indicators at 1 hour to 4 hour timeframe.

I personally trade on even 15 min timeframe and that's been working well for me, but I do read charts carefully and follow a time tested strategy of my own. However, I do agree that the ones who can't control their emotions should try to go with higher time frame of a day a week o even a month.