Peace of mind, the best trading strategy! - page 8.

Hamza2424

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Quote from: Alone055 on November 07, 2024, 05:20:45 PM

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?

Yes, there is, and its name is "Knowledge." Wink

Seriously, you will find that most traders rely on luck after joining the market, which is entirely wrong. What are you into, gambling? No, it's trading, for god's sake. You can't treat trading like gambling because they are different. You can't just throw a few hundred bucks in the mix and expect good returns if lucky. Please open your eyes and mind, check the market, research, and first find cryptocurrencies worth trading that can provide you with at least some profit. Then look for suitable trading windows instead of doing it whenever you want. The market isn't going to react based on your gut feelings.

The point is that traders need to know what they need to succeed in such a volatile and unpredictable market. If you strive for profits more than knowledge at the initial stage of your trading career, you are ruining your career yourself, and you shouldn't blame anyone but yourself if you fail. A significant capital and your gut feelings won't get you far. Knowledge is the key.

Hmm, Haha, and this knowledge cant help.

First of all, let's clarify are you commenting on this in general, or for me, anyway taking into account of your first question I'm not into gambling even though I hate promoting that too, I'm not into leverage trading I hate and discourage that too.

Now coming to a hundred bucks I can I have a lot of money and I'm confident in my decision (An answer from the general perspective of a trader).

I can trade according to my own chosen time as I'm not into stocks or any other timelapse restriction, it is volatile that's the reason I've chosen this market, and who said it's unpredictable?

For the rest I' gonna find peace as I cant find any of the tips useful for peace of mind all of these are old talks even though I've mentioned them several times, for the rest knowledge cant help if it could Chat-GPT could be the best trader but it isn't and any other information source or indicator could have won the market.

alastantiger

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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.

Peace of mind isn't a trading strategy but a state of the mind that all traders need to be in to make better decisions so they don't lose but become victorious in their trade hence you shouldn't call peace of mind as a strategy before some newbies that are not well informed will think that peace of mind is a trading strategy. I haven't seen any strategy that I'll declare as the best trading strategy because I know how different things can work in a specific way for people with different mindset. There are some strategies that doesn't fit everybody trying to become a trader, to be doing. Some strategy that got to do with high leverage isn't for everybody's as there are people that'll lose when they try it because they're not preparing to risk that high when trading. Some of the most popular trading strategy, are Scalping, Day trading, New trading, position trading and so many other strategies that are very efficient.

letteredhub

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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.

Alone055

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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?

Yes, there is, and its name is "Knowledge." Wink

Seriously, you will find that most traders rely on luck after joining the market, which is entirely wrong. What are you into, gambling? No, it's trading, for god's sake. You can't treat trading like gambling because they are different. You can't just throw a few hundred bucks in the mix and expect good returns if lucky. Please open your eyes and mind, check the market, research, and first find cryptocurrencies worth trading that can provide you with at least some profit. Then look for suitable trading windows instead of doing it whenever you want. The market isn't going to react based on your gut feelings.

The point is that traders need to know what they need to succeed in such a volatile and unpredictable market. If you strive for profits more than knowledge at the initial stage of your trading career, you are ruining your career yourself, and you shouldn't blame anyone but yourself if you fail. A significant capital and your gut feelings won't get you far. Knowledge is the key.

Finestream

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If you want peace of mind, trade only when you know exactly how to trade, and not rush into trading because you envy those people who are making huge profits out from trading. Strategies are useless if you don’t know how to make use of them in a positive way, and I think strategies aren’t enough to trade successfully.

Trading begets learning, and with learning provides different experiences, so strategies aren’t enough, you need reliable experiences on the market so that you can expect more positive trades and minimize those trading losses.

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Quote from: Oshosondy on November 07, 2024, 12:13:02 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.

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.

Whether you are a scalper, day trader or swing trader, if you don't trade with what you know you can afford, you are going to lose more that you earn. Many traders do not understand what rest of mind really means. Traders that have been trading for many years with huge profits will always have rest of mind when they are trading because even though they lost that trade, they have nothing to lose. This scenario can be related to a gambler that just hit a jackpot going back to make some small bets to play with money. Trading is for those that can accept loses not someone that would lose and will want to chase their loses. Trading with what we can afford to lose can also give us rest of 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.

Being relaxed and trading without any worries is not really a strategy and instead it is just a reflection of the personality and the skill of the trader in question, after all if someone is facing difficult market conditions and even then they are experimenting the same peace of mind that they did when the market was ranging, then you know that person is either very skilled or they do not really know what they are doing and that is why they are not really nervous.

mindrust

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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.

People always focus on the most important event. This week it was the election so people didn't care about the other events. Next week we will go back to normal and again we will be focusing on the FED and the other financial events. The winner has emerged and the markets seem to like what they received. Crypto certainly liked Trump's victory without a doubt. Right now while I'm typing this post, bitcoin is hovering around $76k which is pretty damn big. $100k is any moment now. I am almost certain that we will be seeing $100k in less than 3 months. Trump's victory will make so many people rich beyond their beliefs.

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Quote from: Oshosondy on November 07, 2024, 12:13:02 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.

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.

Were the different categories of traders with different names? I didn't know that, thank you for enlightening me tonight.

I find it extremely risky to use 15 minutes, 1 hour, 2 hours or 4 hours candles, these time frames aren't a good indicator of what's coming up but from my experience, weekly and monthly charts are better indicators. You can see that during a year or years, price goes up and down and if you are a long-term trader, it can usually ease your mind.

Quote from: BitMaxz on November 07, 2024, 12:34:40 PM

Maybe for OP it works always on long term but in short term fundamental analysis is not always work.

I think that strategies don't work short-term. They might work for a limited time and in certain timeframes but your strategy can be ruined anytime because any news can significantly pump or dump the price. This can ruin the calculation that you made with short candles.

batang_bitcoin

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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.

The narrative is mostly with still the US election and that's why Bitcoin has been reactive because this is how influential and powerful the said event. It's good that you are not worrying about the fomc meeting because what is on your is about the current pump that we're having. That's a good news that we're looking positively even with such news just after the election.

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.

Or moreso, simply become a long term holder and all of the strategies that everyone is doing can be broken by the unpredictable move of Bitcoin. Whilst a calm holder is unbeatable and still looking forward to a better pricing.

benalexis12

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When you do trading, you should focus on your setup and use of strategy, apart from having a deep understanding of it. Because even if your knowledge is extensive, if you are not focused,
your trading activity as a trader will be ignored.

There are others who know how to use the strategy they are doing but there is no development or progress in their trading activity in short it is still not profitable
so it also causes stress for them.

Hamza2424

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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?

BitMaxz

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Quote from: Oshosondy on November 07, 2024, 12:13:02 PM

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.

Based on his statement he said its a long term trading weekly or monthly meaning it's a swing trading.

The reason why almost every indicator works is that it produces more reliable signals and fewer faulty signals.

However, in a short time frame, not all indicators will work perfectly without patterns,strategy and etc... fundamental will help for making decision but it doesn't always work on short time frame.

Maybe for OP it works always on long term but in short term fundamental analysis is not always work.

Oshosondy

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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.

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.

Josefjix

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yes

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.

Topic: Peace of mind, the best trading strategy! - page 8. (Read 1616 times)