The biggest No while trading - page 2.

macson

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

a friend asked me for advice....could being a trader will help to cover all my needs such as electricity, house rent, and meals every month, of course i answered no ^{(especially since i knew that he didn't have any skills in trading)}, i suggested him to find a stable job, which at least can help him pay for his needs every month, then look for side hustle as his financial support and when he has enough savings, he can start learning to trade.

pressure in trading is annoying even hunger alone can make a trader's focus broken especially the pressure to pay for rent and electricity.

DoublerHunter

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Quote from: jeraldskie11 on May 18, 2023, 06:29:31 PM

Don't ever trade if you're doing this to pay your debt because it's not a good idea especially if you have no source of income other than this. It will just makes you lose more money in trading because you will force to trade and when you are consistent in losing it will make you revenge in trading which is very dangerous that will risk your capital so much. Just trade with small funds and don't rely your daily needs with it. You need to have outside job until you're a profitable in trading and you proved that trading can sustain your daily needs.

^Because trading to pay off debt can be a risky proposition.
It is generally not advisable to rely solely on trading, especially if you lack a stable source of income.
Such a situation could lead to further financial losses as you may feel compelled to trade even when facing consistent losses. The urge for revenge trading is particularly dangerous as it puts your capital at significant risk. Instead, consider trading with small funds and refrain from depending on them for your daily needs. It is risky part to maintain an outside job until you have achieved consistent profitability in trading and just make sure to sustain your daily expenses.

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Quote from: jrrsparkles on May 18, 2023, 09:31:30 AM

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

IMO, it can work both ways, let's take an individual who is in debt and has to pay it after a while so they now have a small amount which can be turned into big in a while so they can be really cunning on what they are going to do so it will eventually make them profits but in reality not everyone can handle such pressure and ends up doing wrong trades.

Don't trade if you are not able to handle your loss.
Don't trade blindly because its gambling not actual trading.
Don't keep trading as your only source of income.
Don't go all in, I mean the capital of your crypto just use 30% of your crypto capital for trading purposes.

On the time that you would be seeing your portfolio to be negative then this is the time you would really be having that disruptive emotion on which it would really be might resulting into having that kind of gambler
like kind of approach on which you would be simply lost off track in basing up with your earlier plans and goals that you have set up. YOu should really be having that clear mind and would be sticking into your plans
and its true that not all people would really be having on the same tolerance when it comes to risks handling on which some could be able to held up and there are some which do really make out some breakdown
on the time that they would really be able to encounter those worst things. When trading then it would really be just that right that you should really be knowing about the basic principles of course.
You should really be that able to know other things along the way on the time that you would really be having that experience.

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Don't ever trade if you're doing this to pay your debt because it's not a good idea especially if you have no source of income other than this. It will just makes you lose more money in trading because you will force to trade and when you are consistent in losing it will make you revenge in trading which is very dangerous that will risk your capital so much. Just trade with small funds and don't rely your daily needs with it. You need to have outside job until you're a profitable in trading and you proved that trading can sustain your daily needs.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

This really relates to physhycology situation and emootional.management. Many people may be goood enough in managing their emotion daily. But not all people are able to manage their emotion during trading activities, not all peope are able to having wose and good pshycology. If we are once underpressure when trading, it means that we let other bad things folllwing is and facing us more highly. Being underpressure will make us not able to think and consoder whatever wisely and smartly. This will be quite harmful of we are trading with emotion and will be worse.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

- over trading: once you start over trading while under pressure, your decision making will be very poor.

Trading under pressure is a bad habit, especially when someone is doing it to meet their needs, as you mentioned like to pay bills or pay off debt. In these situations, someone will undoubtedly be desperate to make a profit large enough to cover their expenses, and from that mindset, they will likely become upset and may then make poor decisions. Pressure should not only be avoided in trading but in all facets of life as well, as it causes significant tension that can result in frustration.

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It's guaranteed that in pressure one will make wrong decisions rather than true decision because he will felt his loss and no one can tolerate the losses. Once pressure arises then individuals cannot understand that what he wants to do so I think person should think with patience and never think a decision whenever he is angry, happy or in any type of other emotions or pressure.

If a person start taking decision under pressure then one day the trading and investment turns into gambling which is not a good thing to get involved in so remember that once you loss another time you will win surely because success and failure happens in a cycle once a person get experience and enhances his knowledge.

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Quote from: Yaunfitda on May 17, 2023, 03:36:42 PM

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

It really boils down to experience though and again, your psychology, what I mean is that you should be positive of all your trades. I know that you can't win all of them, but still don't be negative and right everything down so that you can go back and see where you make the mistakes and then improve and developed your own strategy.

It could be on how to make more money or can be on a different matter. No matter how prepared we are, pressure or stress can still come but we shouldn't worry because it will wear off later on. We must still try our best to continue doing our designated tasks. If we have an experience, we already know how to deal on certain things.

We know that the market is volatile and there are different conditions that affects it. If you are a solo individual, it might be okay to earn less but if not, you shouldn't be doing trading alone so that you won't pressure your self anymore to trade hard only to get your quota or target profit.

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Trading is battle of guts to trade on your current position to hold or to sell, if you don't have the capability to handle your fear to lose money trading portfolio will get burden with your decision as always it takes depends on your decision some people telling its the battle about the motions and decision making, but in my perspective its a 50 percent basis that you need to decide to win the trade because you have a proper plan or get feared because you pull back your position because you lose few of your money. Stick to the plan and invest in knowledge.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

IMO, it can work both ways, let's take an individual who is in debt and has to pay it after a while so they now have a small amount which can be turned into big in a while so they can be really cunning on what they are going to do so it will eventually make them profits but in reality not everyone can handle such pressure and ends up doing wrong trades.

Don't trade if you are not able to handle your loss.
Don't trade blindly because its gambling not actual trading.
Don't keep trading as your only source of income.
Don't go all in, I mean the capital of your crypto just use 30% of your crypto capital for trading purposes.

Issa56

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

It's not advisable you trade without a trading strategy, if you don't have a strategy that works for you, then you might end up losing money in most of the trades you open, and make sure you don't use other people's trading strategy, the strategy that might be working for your friend might not work for you, so build your own strategy yourself.

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

If you are trading under pressure, then your chances of losing money will be higher, you will always make wrong decision whenever you are trading, whenever you are trading under pressure you won't be able to make use of risk management, you will be desperate to make profit which at the end you will end up losing in trade.

You might want to revenge after losing in a trade which is very wrong, whenever you are trading and you lose, don't try to revenge, just accept your lost and move on, but if you are trying to revenge you might still lose more money. If you are trading under pressure, then you might want to revenge after losing and you will be losing more.

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Quote from: goaldigger on May 17, 2023, 04:56:44 PM

Quote from: palle11 on May 17, 2023, 12:19:44 PM

Quote from: PX-Z on May 16, 2023, 07:01:08 PM

Yeah, but i will priority my emotions when trading, it's the thing i can't remove when im trading, mostly when it comes to disappointments.

It takes an experienced trader to keep emotions in order while trading because chances are that the pump and volatility will affect your decision most times. This is especially when you don't trade with stop loss. Price drop and rise also plays a fast one on you and the adjustment starts to happen and then the pressure is the next thing. You can't really control pressure in trading when you are running out of funds.

Emotions will always be there, all you have to do is to act accordingly and let that emotion trade you better. In trading, we always look to our own analysis and strategy, if something is not working well then adjust it and don’t be too emotional when losing the money because tendency are, you trade more beyond your own limit. Trading is very risky, your emotion will play a big role in order for you to be profitable.

Emotional is inherent in us, so it will always be there, but it depends on us, whether we can make it an emotion that will make us profit, or vice versa will make us feel an even bigger loss.
It's different if we trade under pressure, of course the feelings that arise are feelings that will lead us in a negative direction. For beginners it is difficult to control emotions, because after all they must first learn to be able to remain calm in the face of friendly situations, and to make us so is one of them with experience.

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Quote from: palle11 on May 17, 2023, 12:19:44 PM

Quote from: PX-Z on May 16, 2023, 07:01:08 PM

Yeah, but i will priority my emotions when trading, it's the thing i can't remove when im trading, mostly when it comes to disappointments.

It takes an experienced trader to keep emotions in order while trading because chances are that the pump and volatility will affect your decision most times. This is especially when you don't trade with stop loss. Price drop and rise also plays a fast one on you and the adjustment starts to happen and then the pressure is the next thing. You can't really control pressure in trading when you are running out of funds.

Emotions will always be there, all you have to do is to act accordingly and let that emotion trade you better. In trading, we always look to our own analysis and strategy, if something is not working well then adjust it and don’t be too emotional when losing the money because tendency are, you trade more beyond your own limit. Trading is very risky, your emotion will play a big role in order for you to be profitable.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

- over trading: once you start over trading while under pressure, your decision making will be very poor.

- less control over your emotions: it is near impossible to control your emotions while under pressure, like rent an debt.

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

-Dont make trading as your source of cinome
-Dont trade and make use of huge capital if you do know that you are just starting on.
-Dont make some rush trades or having no patience whenever you do see that it isnt moving at all.
-Dont make yourself to compare that others are better than you, you would really be boggled or distracted.
-Dont tend to impulsively changing up your behavior or that risks management of yours along the way.

There's actually lots if you do tend to look at and even though you've been aware on what are the good things that you must do but doing
these things would really be a huge challenge as a trader. We know that doing or applying this wont be simply because it would require that strong
discipline towards self.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

I would say that everyone here is under pressure in life? I mean if you have family then you have the responsibility to bring food in the table 24x7. So you have to find a regular job or just think out of the box on how to make money. And who knows, maybe trading is for you or for anyone.

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

It really boils down to experience though and again, your psychology, what I mean is that you should be positive of all your trades. I know that you can't win all of them, but still don't be negative and right everything down so that you can go back and see where you make the mistakes and then improve and developed your own strategy.

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Quote from: Bananington on May 17, 2023, 02:00:49 PM

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Don't ever trade under pressure. pressure to pay off a debt, pressure to pay your rent/ Bill's.

It will be difficult to trade when the pressure of bills are already there. At that point it becomes a matter of being able to control your emotions while you trade than not trading at all because if trading is where you hope to get the money to pay the bills, you have to trade. One pressure to avoid is trading because other people are trading especially on days when you do not feel like trading, you have to know how not to respond to the pressure that other traders can put on you to trade. Do things at your own time.

Funny enough when I was trading, there is this type of trading I used to do. Something used to compel me to trade, if not I cannot on my own decided to trade. For instance, if I want to buy a goods and it costs let say $50 and I have that money. I would not be comfortable to use the money for the goods, rather I'll first try and trade with the money and have some dollars extra before I use the $50. It wad almost becoming a habit until I stopped trading and it just died off.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Don't ever trade under pressure. pressure to pay off a debt, pressure to pay your rent/ Bill's.

It will be difficult to trade when the pressure of bills are already there. At that point it becomes a matter of being able to control your emotions while you trade than not trading at all because if trading is where you hope to get the money to pay the bills, you have to trade. One pressure to avoid is trading because other people are trading especially on days when you do not feel like trading, you have to know how not to respond to the pressure that other traders can put on you to trade. Do things at your own time.

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Quote from: palle11 on May 17, 2023, 12:19:44 PM

Quote from: PX-Z on May 16, 2023, 07:01:08 PM

Yeah, but i will priority my emotions when trading, it's the thing i can't remove when im trading, mostly when it comes to disappointments.

It takes an experienced trader to keep emotions in order while trading because chances are that the pump and volatility will affect your decision most times. This is especially when you don't trade with stop loss. Price drop and rise also plays a fast one on you and the adjustment starts to happen and then the pressure is the next thing. You can't really control pressure in trading when you are running out of funds.

If a trader only follows his strategy and does not change his mind as he trades, then he will only lose money if the strategy is wrong, or the wrong time is chosen for this strategy. But until you check this, it will not be clear that the strategy or the trader who constantly changes the strategy depending on the mood is to blame.

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Quote from: Kara3 on May 16, 2023, 09:14:40 PM

Quote from: blockman on May 16, 2023, 07:54:23 PM

In short, this is what you've said;

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Don't ever trade under pressure.

And kindly edit your posts before there have been some brackets that you've used more than once so that the bold you're trying to do has some excess character. Check that and review the thread for you to edit it and make it look no mess at all.

Thanks for the correction, I really do appreciate.

No problem.

Quote from: 348Judah on May 17, 2023, 06:11:24 AM

It we can't control our emotions in trading, it turns into an addiction for a one or more particular trading habits a d such could lead us to missing targets on trades we should have earn from than loosing, we must have this self-control of ourselves in trading, this is also what makes some particular trading strategy we adopts work out for us since we are well aligned to the direct pattern and information resource needed to monitor the trade under controlled speculation.

Setting to cut loss is a must and that's one way of controlling our emotions. Yes, if you're aware of cutting loss and you're also setting it, that means that you're not letting it go into further losses and that makes you also control your emotions. You won't just let it continue to drop as low as it can when you're an active trader.

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Quote from: PX-Z on May 16, 2023, 07:01:08 PM

Yeah, but i will priority my emotions when trading, it's the thing i can't remove when im trading, mostly when it comes to disappointments.

It takes an experienced trader to keep emotions in order while trading because chances are that the pump and volatility will affect your decision most times. This is especially when you don't trade with stop loss. Price drop and rise also plays a fast one on you and the adjustment starts to happen and then the pressure is the next thing. You can't really control pressure in trading when you are running out of funds.

Topic: The biggest No while trading - page 2. (Read 300 times)