Topic: Stop Trading - page 6. (Read 999 times)
1) Series of Losing Trade
3) When Emotionally Unstable
If you are really that experiencing this shit, then better stop and having a pause on what you are doing. Trying out to reassess the situation specially of that consecutive losses on which we know that
it is really that something that should be cut and then thinking on where you do go wrong and this is something that a must thing to be done. Next, would really be that emotionally unstable which
on the time that you are on this situation or condition then its better to stop completely and make yourself having some pause or break on what you are doing. Unstable emotion could
cause bad decisions on which it is something that must avoided.
Clear up with those boggling things deep inside you because if you do trade on such condition then you would be basically be that putting yourself on danger because
you cant really be able to assess the market condition carefully or on the right way specially if you are really under the influence of emotional unstability.
Trading needs a long preparation not only when it comes to your funds but a big part of you should also be committed enough to take its risk and handle it with caution. Otherwise, if you trade for short term goal, you will never be satisfied completely but if you have set long term goals for trading, initial losses should not bother you because in the end, you will gain satisfying profits that only long term trading is able to give you.
Initial losses some time contribute to failure in trading if it is beyond expectations. As a beginner, even if you have long time goals and you experience series of initial losses, you might feel discouraged in the whole process and system. It's normal to experience losses in the process even as an expert but when it becomes too much, it bothers traders and affect them psychologically. Trade require lots of patient and commitment after you have already acquired the skills to achieve the desire goals be it short term or long term goals. It's not longer news that trading is highly risk and those who can not tolerate the risk should stay off to avoid emotional damage and lose of funds.
I agree with some of your points but I think every point you make is psychologically related. Before trading you must have enough knowledge about it. Although trading depends on the market, I think a skilled trader can anticipate the market. And if someone is unskilled in it, his chances of loss are very high. If one sees losing his money then it is a bit difficult to control the emotions. You are right that if someone is mentally disturbed, he should not come to trading, but in my opinion, if you are mentally disturbed, neither trading nor any work is good. And if someone is financially weak, then he should think about it.
In Trading, controlling emotion is quite important, unless someone is not going to control his emotions, he will be in stress which is not good for his health, and I can say a good health comes first, after than one can earn money. And also, trading strategies should be helpful in all aspects for an individual. Sometimes when someone make a small trade and he got some profit. I think it will overcome his stress if he had losses some money before. So it should be also a good thing. In both ways, I can say trading works, sometimes in bad ways or sometimes in helping situation. One should be ready in both situations, then only he will go ahead.
Trading needs a long preparation not only when it comes to your funds but a big part of you should also be committed enough to take its risk and handle it with caution. Otherwise, if you trade for short term goal, you will never be satisfied completely but if you have set long term goals for trading, initial losses should not bother you because in the end, you will gain satisfying profits that only long term trading is able to give you.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
If you are emotional then don't participate in trading because that time you are unable to use strategies and to make profitable commitment. Trading is fraught with danger and if you make commitment emotionally then it become waste of your time and money.
If you think that market is not good then forget your losses for some time because this habit of forgetting will be a cause of avoidance from future full of regression. It is not necessary that if you are trading then you cannot leave it but its up to you that when you think that is is profitable for you then continue it and if you find it good to get benefit then leave it for sometimes.
When the market does not favor what you want to happen in trading based on your analysis, it indicates you do not have to force yourself to trade that day. You may be dealing with the risk and volatility of the coin or bitcoin you are trading.
It is also required since, as an independent trader in the crypto world, you must be responsive to market action. That's accurate, there will be periods when we will make money and times when we will not be able to make as much.
It is also required since, as an independent trader in the crypto world, you must be responsive to market action. That's accurate, there will be periods when we will make money and times when we will not be able to make as much.
This is exactly what smart trading is. Because day trading is not everyday trading. As a discretionary trader, all of your analysis would be based upon your own opinion and understanding of the market. You come up with your own idea of how to trade an instrument or any coin. And with those trade ideas, you are also setting probabilities and expectations for the days that will come.
When your initial idea for a specific day is unlikely to pan out, then there's no point waiting for an entry, is it? So instead you put yourself in an spectator monde, not risk any real money, or just investigate and forward test your strategy. Because not losing any money is preserving your capital and that is a W.
When you enter trading here in crypto, you must really have knowledge; it is not possible to know only a little if you want to earn well in the crypto business. Because adequate knowledge will dictate to us whether we should stop or continue trading.
Not every time we will base it on what others say about it; of course, we must also have our own understanding of it so that we can also correctly analyze the activities we are doing here.
Not every time we will base it on what others say about it; of course, we must also have our own understanding of it so that we can also correctly analyze the activities we are doing here.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
trading is not for all crypto users. it depends on how well you have the grasp of doing this tedious activity. i say tedious because it is no easy task to dedicate yourself in this activity.
it would take years and years to learn those strategies and tricks to do well in trading. yes, there are known TAs, however, when it comes to actual trading, what you need is the information about the particular coin you are trading with.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
No trader wins all the time but your wins have to be more than your loses. anyone who has established him/herself in trading will know what to do when loses comes. if it appears like you are gambling you can put somethings into checks, however you wont totally stop because of losses because you will lose whether you like it or not. for someone that is testing out a strategy or a newbie trader you will have to experience some loses on the way to perfect your strategy. after trying all things and if it seems like its not working for you then you try other things maybe like using a bot or just investment.
This is what should really be on your priority on which you should really be needing to focus on having in greens or profits despite of those losses on which you could really see that you arent wasting up your time on the thing that you are dealing with specially on trading. You should set goals and targets and this is where risk management would really differ because not all would really be that confident on what they are doing and this what make them hesitate on taking up decisions which neither they could really be putting up themselves on possible earning or gain but of course risks is there on losing too.So it would really be neither be that a loss or gain and this is something that would really be varying.The importance here is that you should really be that wary in regarding your actions.If you do see that you are already experiencing that consecutive lossing trades then always trying out to reassess
whether you are already that negative or still positive. It all matters about risks tolerance and if you do find yourself that you could still go on then go ahead but if you do see that you would
be needing to have some pause and go back to the drawing board then you must do it. It would really be just depending on how you do deal with it.
No trader wins all the time but your wins have to be more than your loses. anyone who has established him/herself in trading will know what to do when loses comes. if it appears like you are gambling you can put somethings into checks, however you wont totally stop because of losses because you will lose whether you like it or not. for someone that is testing out a strategy or a newbie trader you will have to experience some loses on the way to perfect your strategy. after trying all things and if it seems like its not working for you then you try other things maybe like using a bot or just investment.
We must always keep in mind that trading is not for everyone, those who are under financial stress will never trade. Moreover, when a person has no money and has a small amount of money, it would certainly be foolish to trade it and increase it. Because at that time, if the person trading money increases, he can lose his money, and that trader can lose his money and become emotional. Trading is very difficult for those who have small amount of money and it can be better if they have an alternative plan, besides trading must involve risk. If a person wants to make a profit by trading, he must have extra money beyond what he needs but he can trade so that he is destitute if he loses money. Basically a trader can make profit when he is well informed and he is not short of money, that's why a new trader should take the advice of a pro trader, but can make profit in the future.
it doesn't matter if it stops. But did you know that crypto trading or other risky trading has high fluctuating prices so it can be used to make profits quickly. This is the advantage, I think there is no need to think about the risks, how can we really know before trying it, right?
2) Market is Consolidating
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
There are times that we can't know that the market is consolidating when we lose trade because we thought that it would break the small support or resistance on it mostly when it is just starting to consolidate. It is better to see the bigger picture jump to a higher timeframe and see what the cycle of the market is. I mostly noticed this when after the uptrend or downtrend cycle that lasts for a couple of days or weeks when the market consolidates.
It is better to triple check the market cycle before hitting a trade or if we do have signs that the market will transition to consolidate then that is the time to walk away and not just think of it that is the time to relax.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
(....)
In short, not all of the time is good to trade. It doesn't mean that you close your long position, yo can already open a short position, but that is not how trading works.(....)
For me, there are lot of trade opportunities coming always, so waiting for perfect moment or almost perfect is always better because your funds is protected, capital preservation.
Your points are very well valid OP. The issue from my point of view, is that most traders don't even follow up on updates before and after trading and if done, they simply just close the trading app and hope to get notified if anything happens or if significantly, there's a change in the market trend.
The best bet is to HODL BTC until one knows they have the time, or would have the time to pay proper attention to market news and notifications. This is what would lead to the instinctual build up of confidence in the trading platform and for any trade in the future.
The best bet is to HODL BTC until one knows they have the time, or would have the time to pay proper attention to market news and notifications. This is what would lead to the instinctual build up of confidence in the trading platform and for any trade in the future.
This is why I avoid everything and just hodl my Bitcoins and rarely selected Altcoins. None of them going on an exchanger anytime soon. I am more or less happy to see them grow just like that over the period of time. I only use them to buy services or product but make sure that they are worth it and are payable with bitcoin. This mostly include purchase balances on advertising sites or coupon cards tradable in bitcoin. Except this I would never dare to send my bitcoin on an exchanger and start trading with it. That’s just waste of time for me and volatility is something that makes it even more dangerous asset for us. I am hoping anyone trading should consider all the facts mentioned in op but more than that should be more keen on holding bitcoin for the good future.
1) Series of Losing Trade
If you noticed that the losses you had are more in a series of trade you took then take a break. If you proceed you will start doing revenge trading and lose out. A break will help you re-evaluate yourself and maintain psychological and emotion balance.
Take a break from trading is necessary as if you are trading more and more to get back your money then its your mistake. Continuously trade without correcting your faults is a big fault which cannot give you outclass upshot.
If you don't understand the scientific thinking to overcome losses then it is necessary to cease trading for some months. Your time will not be misdirected because these months will be for learning only therefore don't waste money with the utilization of wrong concept.
People often stop trading when they gain maximum amount of cash because they don't want to use that sum again as crypto gain is not definite so ceasing of trading in these two situations are good choice use by successful traders.
2) Market is Consolidating
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
When the market is moving sideways its a great time for accumulation. But if you are looking for short term profits then you can use grid trading bot to take advantage of market sideways move and set the bot between its support and resistance levels.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
It is not easy to control your emotions when you are watching your trade go down. Our emotions tell us to add more funds and lower the average. Sometimes this works if you can hold on for the long term. It's better to use a stop-loss.
I like this. Hitting the nail on the head. For me, When the market acts funny, I don't usually go in to trade. I rather use Dual Investment. That's been my best strategy for a while now
It would have been required that someone learn crypto trading if it had been the only activity available in the crypto space, but since it is not, it is not required, and one shouldn't engage in it when they are unfamiliar with it.
As the saying goes, do what you find perfection in. Don't trade because Mr. A, B, and C are trading and making money, as this could lead you to lose a lot of money by jumping into trading without analyzing and understanding how it is done.
As the saying goes, do what you find perfection in. Don't trade because Mr. A, B, and C are trading and making money, as this could lead you to lose a lot of money by jumping into trading without analyzing and understanding how it is done.
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