Peace of mind, the best trading strategy! - page 7.

Josefjix

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Quote from: benalexis12 on November 09, 2024, 01:26:03 PM

When you have peace of mind, no matter what you do, you will be focused on what you are doing and you will be content with the things you are thinking about. Everything is under control because of this feeling and the behavior.

so the question is do you know where you are categorized op? because that's important, if you're a scalper or a long-term holder? may be a basic question
but it is very important for us to know that as a trader.

I have tested many trading strategies and used several indicators ranging from advance indicators such as break of market structure(Bos) and change of character (Choch) and the simple indicators like MACD , fibonacci and rsi! of a true one thing is certain all of them work almost perfectly on long term timeframes but on short term like 1 minutes to 1 hour timeframes you will notice several failed signals .
The markets is an Emotional markets whatever give you peace of mind without serious worries should be encouraged and since long term timeframes gives that, i do long term.

benalexis12

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When you have peace of mind, no matter what you do, you will be focused on what you are doing and you will be content with the things you are thinking about. Everything is under control because of this feeling and the behavior.

so the question is do you know where you are categorized op? because that's important, if you're a scalper or a long-term holder? may be a basic question
but it is very important for us to know that as a trader.

Dr.Bitcoin_Strange

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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.

If you want making trading decisions with peace of mind? trade only on those timeframes with any indicator and you will make money.

Yea, I completely agree with you and this is not just the first time I am hearing such idea about trading. A trader that I know only takes one trade every day and the best time he takes those trade is during morning. Before 12pm, he is already done with his trade and has taken profit and wait till the next day. He said the reason is because he has more peace to make accurate trading decisions in the morning and it is more accurate if he only takes one trade. I am trying to teach my self such habit.

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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?

Probablt 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.

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Quote from: letteredhub on November 07, 2024, 05:52:11 PM

Is the trader one that is willing to wait for such long timeframe as daily or weekly to make profit from it? This is the very question you should ask yourself. Those long timeframe requires patience to have it hit the anticipated mark. Meanwhile not every trader likes to use longtime frames but that doesn't mean those that use short timeframes like 5m, 15m to 1h don't also make profit with it. The important aspect of long timeframe is that it gives the trader a better insight about the market trend and the candlesticks pattern more than a short timeframe.

If trading is not your main occupation and you spend most of your time in the office, then daily and weekly timeframes should be the best solution for you in trading. Since trading is an additional income, therefore, it should take a minimum amount of time.

justdimin

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Quote from: AmoreJaz on November 07, 2024, 06:53:26 PM

This one depends on the trader as he has his own targets on this activity. Some have short-term goals to acquire the profit that they want, whereas, some are for long-term to gain as much as profit that they think of. However, there's no concrete answer on this as the profitability depends on the project involved and the entry/exit point of the trader.

If you are a highly-skilled trader, you can in fact earn much more and much quicker in a short-term trade than in the long-term one. It only sounds too good to be true, no wonder why not many have that kind of talent but what usually happens is either a short-term trader earns lesser but quicker or they go for long-term and earn much better but only longer, (just like you said there). I think that as a trader, it doesn't really matter if what project was that.

Risky or not, but as long as they already decided to go for the short-term, they will always follow it. The same goes if they choose long-term. What I know is that it was only those investors are the ones where their project/coin of choice matters the most. Say if it is risky, then they will just opt for the short term but if not, and what they own for example is Bitcoin, they will automatically go for the long-term.

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Quote from: tabas on November 08, 2024, 02:54:48 PM

Since peace of mind has been mentioned. I think what I am about to add is about after the decision that has been made. So, if someone can make profits, then there's something that boggles their mind. Just take that money, be happy with the profit and be at peace. Time and time again there will be moments that they'd feel that the profit isn't enough and there's no peace of mind in there. That's why be content with the profits made through the trades and decisions that have been made.

For that, I think we all have to determine the profit target that we will take, so there is no confusion at which point we will take profit. Because after the decision has been made, we will definitely wait until we get the target, and the worst is that we feel a loss. Therefore, it is also important for us to apply a stop loss or the amount that we can afford to lose.
Although for some people this is optional, especially for those who have very large capital, usually they will make a reserve and even re-enter. Well, as said, calmness is an important factor and it is part of the mentality that we must have during trading or even before and after the trades we make.

tabas

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Since peace of mind has been mentioned. I think what I am about to add is about after the decision that has been made. So, if someone can make profits, then there's something that boggles their mind. Just take that money, be happy with the profit and be at peace. Time and time again there will be moments that they'd feel that the profit isn't enough and there's no peace of mind in there. That's why be content with the profits made through the trades and decisions that have been made.

GeorgeJohn

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You can only make positive trading with peace of mind when you have experienced of what you're doing, I believe that trading has to do with lessons, when you have no guidelines of trading peace of mind cannot. Ake you to make profit, you most know the fundamental ways of trading first before peace of mind can be applied to make profit, it's those expertise that knows all the flux of trading and also know the application to apply in order to overcome them, that will trade with peace of mind, let me portray these, it's when you have your own derivatives in trading that makes you to .are profit, it's when you will feel relaxed to trade, but a process whereby you're a newbie in trading and you feel relaxed in trading you will end up losing.

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Quote from: FortuneFollower on November 08, 2024, 06:16:15 AM

And to stay responsible and consistent - after all, a strategy is nothing without the profit made.

You said it.
People talk about a lot of strategies but if it's about profitability, many remain silent. They're good in theory about the discussions of the strategies that they've done but then, they lack of the actual reason and results why they're trading and that's to make some profits.

Quote from: FortuneFollower on November 08, 2024, 06:16:15 AM

Goals should be reachable in order for your trading sessions to be successful.

It is not that easy at all if they're starting out but when they have become consistent and they've done so much with their strategies that results into profitable trades, one can be said as successful.

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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.

The first thing in trading is of course peace of mind is one of the key factors for success in trading. Because in any market or trading situation, both short and long term, if you can control your mind, the decisions taken will usually be better.

So peace of mind is important in trading because trading will drain your mind, disturbed emotions, pressure, anxiety and fear. In addition, peace of mind is also important in helping traders become better at facing challenges in the market and achieving success in the long term. So to control peace of mind must be trained, the more often the nerves of peace will be formed, over time we will be calmer, so in other words peace of mind is the key to achieving success.

TheUltraElite

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So anyway, I applied as a merit source :)

I rather suggest people to keep mind at peace by keeping themselves limited to spot trading and having a backup source of earning money like a stable job.

But indeed peace of mind is needed to avoid rash decision making and keeping a pragmatic approach. To do that, a lot of things need to considered with backing from paper trading and observing charts and indicators. The latter does not confirm the direction but only indicates the possible direction of movement of the market.

FortuneFollower

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Quote from: Aanuoluwatofunmi on November 08, 2024, 05:33:14 AM

Making profits on trades is not about the long or shot trade we are taking, not even the indicators available for us to use, but how we can be able to combine necessary resource altogether to arrived at an accurate trading prediction.

And to stay responsible and consistent - after all, a strategy is nothing without the profit made. Goals should be reachable in order for your trading sessions to be successful.

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Quote from: Aanuoluwatofunmi on November 08, 2024, 05:33:14 AM

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

With peace of mind, we can make best trading decisions.

What gives the peace of mind is the knowledge and awareness we have towards knowing what is necessary for us to do, we cannot engage in trading just like that when we are not used to the basics and fundamentals in it, this is why some missed it already even before they starts, when they lack the technical know how, having peace of mind becomes a threat in such situations like this.

Yes, you should have faith and knowledge with your trade. Not only to see the needed factors and changes in the market but to understand what to look for and what is the current picture in the minds of the community and funders.

Aanuoluwatofunmi

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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.

What gives the peace of mind is the knowledge and awareness we have towards knowing what is necessary for us to do, we cannot engage in trading just like that when we are not used to the basics and fundamentals in it, this is why some missed it already even before they starts, when they lack the technical know how, having peace of mind becomes a threat in such situations like this.

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.

Making profits on trades is not about the long or shot trade we are taking, not even the indicators available for us to use, but how we can be able to combine necessary resource altogether to arrived at an accurate trading prediction.

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

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

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

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...

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.

Cryptmuster

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

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

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...

michellee

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That is why you need to calm down of yourself before trading. Calmness is needed in any situation so you can adapt to the current situation and know how you should reacts. If you just panic because read some news that you don't know if that is real or fake, you can not focus on your trading and make in a mess.

Whatever you use for trading, if you can not calm down when analyzing, you will enter and exit the market with a wrong decision. When you can calm down and focus, you will not gets the effect of the news that you read. You can analyzes the market based on the movements while you can decide when to enter and exit the market.

Your decision will not be in a rush because you will consider many things before deciding. Your analysis will help you to know the time to trade and leaves the market. So you really need to calm down before trading so you know what you should do.

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AmoreJaz

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Quote from: letteredhub on November 07, 2024, 05:52:11 PM

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

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.

Is the trader one that is willing to wait for such long timeframe as daily or weekly to make profit from it? This is the very question you should ask yourself. Those long timeframe requires patience to have it hit the anticipated mark. Meanwhile not every trader likes to use longtime frames but that doesn't mean those that use short timeframes like 5m, 15m to 1h don't also make profit with it. The important aspect of long timeframe is that it gives the trader a better insight about the market trend and the candlesticks pattern more than a short timeframe.

This one depends on the trader as he has his own targets on this activity. Some have short-term goals to acquire the profit that they want, whereas, some are for long-term to gain as much as profit that they think of. However, there's no concrete answer on this as the profitability depends on the project involved and the entry/exit point of the trader.

Topic: Peace of mind, the best trading strategy! - page 7. (Read 1616 times)