The biggest No while trading | Bitcointalksearch.org

CarnagexD

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Quote from: Kara3 on May 16, 2023, 05:05:23 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?

Trading the market will make you involve with unlimited pressure and uncertainties. That if you do this you will never be able to trade.
The thing is, pressure is normal. What you need to do is ask your self, how can you handle the pressure. If you cannot, then take a break. If you can, then get in front of your chart, do the work and your analysis.

It is a fallacy that you have to avoid the pressure. Because in trading, oftentimes the hard trades are the right ones. It is just a matter of how can you handle your self, your emotion, your actions under pressure.

Dr.Bitcoin_Strange

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

Lol, it's funny how you say it, though, but who will really trade under pressure and expect to make a profit? When people don't rely on only trading, there will be no need to trade under pressure; just pay some urgent bills. I don't know how others feel about it, but I will not advise anyone to just rely on trading as a sustainable source of income, because what if the source becomes not really sustainable again due to some certain circumstance? Some weeks ago, a newbie created a thread where he suggested that he wants to quit his job and start trading, which means he will only be living on every profit that comes from trading, and in trading, it's not every time that one will make a profit.

As a newbie to trading, it will really take a lot of time to develop a strategy that works best for you—not by taking other strategies from the internet and believing they can earn you a lot more profit, but if they are practically used, they can result in several losses.

Russlenat

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Quote from: SOKO-DEKE on May 18, 2023, 03:48:21 PM

Quote from: Kara3 on May 16, 2023, 05:05:23 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.

However, pressures are sometimes unavoidable, so it’s best not to trade at that moment. It’s the only way you will get to avoid losses, otherwise you continue to experience pressure and prolong your loss experience. Also, never trade when you have no stable source of income in the first place. Trading will only give you pressures if you do that. Especially if you use money to trade to pay bills later on, surely it will cause a big trouble in the future.

isaac_clarke22

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

~

Starting off, if you're "under pressure paying off debt" then there must be something really wrong in here. That would mean that you're relying in trading to pay off your bills just like you mentioned. I would advise first to just not rely in trading if you don't have any stable work that can reliably pay your bills.

Not sure what you mean by over trading, but again, if you're already under pressure, it might be worth looking for another stream of income as the market is truly volatile and not really reliable for full-time work. Emotions are part of being you, just remember why you traded in the first place.

Quote from: Josefjix on May 20, 2023, 09:02:20 AM

Newbies are 90% guaranteed to become victims of vital losses, because they are just new in the space and eager to place trades. Every trader's ultimate goal is to stock earnings from the market while also gaining enough experience to apply an effective strategy to the market. Risk management is the most important factor to consider before initiating a trade; we should constantly be concerned about our portfolio; the market is designed to liquidate our accounts, therefore we have to utilize solid tactics to circumvent it. Losses are inevitable in the market; even professional traders suffer losses; we must carefully monitor every action we take when trading.

It's not 90%. It's always guaranteed, but I would not even call it "victim", just those times that they're still learning. I've been there but I quitted as trading isn't really a reliable source of income for me.

Sanitough

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Quote from: Kara3 on May 16, 2023, 05:05:23 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?

It’s really useless to work under pressure because that will make your job ineffective. Especially in trading, where emotional management is of high necessity, then you should not resort into trading when your emotions are not stable and you are in state of doubt or uncertainty. Otherwise, you will only end up wasting your money and effort while forcing your trades to become successful.

Josefjix

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yes

Quote from: Nrcewker on May 20, 2023, 08:05:33 AM

Everyone should focus on the risk management thing. If you can’t properly manage the risk while trading, then definitely you will end up making losses. The importance you give to make profit, that much similar importance also needed to make sure that you don’t make losses. When you try to reduce losses, then only it will convert into profits. So yes managing the risk involved in each and every trade should be kept above. At last if you are a beginner then you should trade only that amount, that you can afford to lose.

Newbies are 90% guaranteed to become victims of vital losses, because they are just new in the space and eager to place trades. Every trader's ultimate goal is to stock earnings from the market while also gaining enough experience to apply an effective strategy to the market. Risk management is the most important factor to consider before initiating a trade; we should constantly be concerned about our portfolio; the market is designed to liquidate our accounts, therefore we have to utilize solid tactics to circumvent it. Losses are inevitable in the market; even professional traders suffer losses; we must carefully monitor every action we take when trading.

Nrcewker

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Everyone should focus on the risk management thing. If you can’t properly manage the risk while trading, then definitely you will end up making losses. The importance you give to make profit, that much similar importance also needed to make sure that you don’t make losses. When you try to reduce losses, then only it will convert into profits. So yes managing the risk involved in each and every trade should be kept above. At last if you are a beginner then you should trade only that amount, that you can afford to lose.

ancafe

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Quote from: Kara3 on May 16, 2023, 05:05:23 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?

The point is you have to trade when you are ready with all the losses, trading because you think you will be able to pay off debts and pay rent bills is not recommended because in circumstances like this our psychology is often disturbed and unstable. Risk management is very necessary, this does not only apply when you trade in crypto but in life you must also have a pattern of minimizing risk. Trading in your crypto requires a lot of attention and you also have to understand the chart and graph patterns, even though most people know this method but risk management is also very necessary to control it.

When you are under pressure and you know how to control the risk of losing it is not a problem. For day traders it is impossible to stop trading for reasons of being under pressure and vice versa they understand when to stop trading and know how to get out so as not to suffer big losses, although for novice traders it is not recommended to trade under pressure because of the mindset of beginners with people who already understand trading patterns are much different.

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Quote from: IvugeoEvolutionCoin on May 19, 2023, 11:29:40 PM

Quote from: Johnyz on May 19, 2023, 04:18:52 PM

Quote from: jeraldskie11 on May 18, 2023, 05:29:31 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.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

We know that almost everyone has lost their money while trading in new situation. But the more money you lose, the more you can learn new strategies from here. I think you should think before trading and trade after. But if you take advice from others. It might be a little better for you.

But instead of learning from mistakes, sometimes it's difficult for you to overcome this kind of stuff because you're still doing a trade even though you're consistent in losing. You can't immediately learn from your mistakes by the time your previous trade was not successful because you're emotional that time that's why you have to distance your self in the chart and take a break such as going to the beach, gym, or place that helps you lower the stress level especially if your losing is consistent. After that, If you feel like you're okay and your emotions were back to normal, then that's the best time to open a chart and determine what was the mistake in your previous trade.

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Quote from: irhact on May 20, 2023, 04:26:37 AM

As a trader, if you don't have a system or strategy yet, you shouldn't start trading or you'll end up losing your capital, as a starter in trading you can start with using your mentor's strategy or anybody that you learnt trading from. It could be an online coach where you watch them as they trade, there's a strategy they used therefore you can start with that but as you trade more, create your own strategy.

I think for a newbie that's just there to learn, they don't have to be wary about such and just execute their trades so that they'll gain experience. That's the utmost thing they should have and that's to initiate and start. It's given that as a newbie, they could potentially lose their money but if they're up for it and willing to learn, that's like the enrolment fee for the lessons they'll learn.

Quote from: irhact on May 20, 2023, 04:26:37 AM

Without a strategy, there won't be any plans to follow and without a plan you won't have what to rely on to create again the success you had with your previous trades. never borrow money to trade or you'll be under pressure to win and pressure mess with your thinking.

They'll come up with a strategy soon after learning how the market works. That's gonna make them wiser the 2nd time around when they've tasted how cruel the market is.

Litzki1990

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A healthy brain should do stress free trading because in stress free trading there is very less chance of making wrong decisions but when we have a lot of tension in our head and when we are mentally weak then we will not be able to make the right decision so we will never be successful in trading. One should never trade on credit. If there is more than a certain amount of money. the money that is damaged but will not affect your life much then trading should be done with that money. In the case of trading, one should always understand well and then make a decision, no decision can be made on the basis of emotions. In trading we need to be very patient along with strengthening our mind, if we can do these things correctly then we can profit from trading.

cydrix

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Trading under pressure will only lead to more pressure because when trading normally, a trader is already under pressure to be able to turn a profit in addition to trying to get a profit because he needs his money to pay for things that are important. Trading under pressure will only lead to trading making numerous mistakes because it begins under pressure. However, many new traders mistakenly believe that trading is the quickest way to double their money and open a buy position when they see that there is a panic, the price will fall quickly and improve too, but in reality, they are mistaken because the panic lasted quite a long time and the decline was very deep, while he needs money quickly and the next step is to sell with the condition that the asset has fallen quite deeply. The lesson is to not double your money in trading out of a sense of urgency since it is foolish.

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Quote from: Kara3 on May 16, 2023, 05:05:23 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.

As a trader, if you don't have a system or strategy yet, you shouldn't start trading or you'll end up losing your capital, as a starter in trading you can start with using your mentor's strategy or anybody that you learnt trading from. It could be an online coach where you watch them as they trade, there's a strategy they used therefore you can start with that but as you trade more, create your own strategy.

Without a strategy, there won't be any plans to follow and without a plan you won't have what to rely on to create again the success you had with your previous trades. never borrow money to trade or you'll be under pressure to win and pressure mess with your thinking.

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Quote from: Johnyz on May 19, 2023, 04:18:52 PM

Quote from: jeraldskie11 on May 18, 2023, 05:29:31 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.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

We know that almost everyone has lost their money while trading in new situation. But the more money you lose, the more you can learn new strategies from here. I think you should think before trading and trade after. But if you take advice from others. It might be a little better for you.

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Quote from: Johnyz on May 19, 2023, 04:18:52 PM

Quote from: jeraldskie11 on May 18, 2023, 05:29:31 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.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

agreed with this many seem underestimated the difficulty of trading because they know some people become successful thought may be they will also become successful but here's the thing, trading really requires a lot of knowledge and good decision making which most of newbie just gonna outright fails, winning the first time, that's just newbie's luck but see after series of trading decision and see whether this newbie could generate consistent profit.
there's reason why many are still sticking with trading signals and just copy trading from some famous traders because they know their knowledge aren't that good enough.

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Quote from: jeraldskie11 on May 18, 2023, 05:29:31 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.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

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Based on what op is trying to pass to us that we should not very trade under pressure. There are good pro traders that don't have issue with trading under pressure because they are already used to it and know how to find there way out if anything wrong could happen to them. The information of not trading under pressure us mostly pass towards the newbie traders and those that are still trying hard to earn from the market.

Those that are already a consistent profitable traders know how to find there way out when they seem to make common mistake that could make them lose money compare to someone that is in the market trying hard to earn some profits without the versatile skills and experience to keep going.

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Quote from: Kara3 on May 16, 2023, 05:05:23 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.

It has always been suggested to have a trading plan that you stick to and a strategy that works for you. Trading involves specialized knowledge, therefore you cannot just go into it without any background in it.
This doesn't just apply to trading; in life, we should avoid acting under duress because it's terrible form and will cost you all you were hoping to gain. Trading cryptocurrencies is not a place where you can just show up whenever you want and take money because you have a debt to pay off. The majority of the time, trading under pressure will result in you losing money.

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

under pressure [/b] 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?

Trading under pressure unquestionably has additional drawbacks than those already highlighted by the OP. You'll start trading more only to accomplish your urgent objective. Just like the OP indicated, it frequently results in excessive trading, poor risk management, and poor emotional control.

Additionally, trading under pressure frequently results in the complete loss of assets due to greed.

cryptomaniac_xxx

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Trading always requires attention. This is an option that is really difficult to call a simple job. For this reason, I advise you to devote enough time to the issue of training.

And we've heard OG traders like Warren Buffett who says that they spend time on their trading, so yeah, it's requires more attention as what we previously thought. Although there is bots in crypto market, still though, not recipe for a win, you still have to see how and what it does and set the parameters.

As for the emotions, this is one of our worst enemy, really hard to control and it takes time and dedication and self discipline to fight it out and trade base on logic and what the market movement is. Otherwise, we are going to lose big money in the long run and it will be gambling for us.

Mr.right85

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

You've got a good point with this. You know, pressure could be seen as a drive towards some emotional drama. You already have a target either subconsciously or not and would be more about archiving what goals are there within that set target.
This pushes you to see reason why every looked up analysis or indicator should make sense thereby, pushing you into doing more trades than necessary and your sure to find yourself with more loses than you can hope to bear. That's how bad it is.

When it comes to debt and settling a loan, trading isn't your best strategy. Better sort out some other means and later trade gradually to settle it off alongside other means to a living.

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Quote from: Kara3 on May 16, 2023, 05:05:23 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, 05:29:31 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, 08:31:30 AM

Quote from: Kara3 on May 16, 2023, 05:05:23 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.

jeraldskie11

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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, 05:05:23 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, 05:05:23 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.

AnonBitCoiner

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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, 02:36:42 PM

Quote from: Kara3 on May 16, 2023, 05:05:23 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, 05:05:23 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.

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Quote from: Kara3 on May 16, 2023, 05:05:23 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, 05:05:23 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, 03:56:44 PM

Quote from: palle11 on May 17, 2023, 11:19:44 AM

Quote from: PX-Z on May 16, 2023, 06:01:08 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, 11:19:44 AM

Quote from: PX-Z on May 16, 2023, 06:01:08 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, 05:05:23 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.

Yaunfitda

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Quote from: Kara3 on May 16, 2023, 05:05:23 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, 05:05:23 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, 01:00:49 PM

Quote from: Kara3 on May 16, 2023, 05:05:23 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, 05:05:23 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, 11:19:44 AM

Quote from: PX-Z on May 16, 2023, 06:01:08 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, 08:14:40 PM

Quote from: blockman on May 16, 2023, 06:54:23 PM

In short, this is what you've said;

Quote from: Kara3 on May 16, 2023, 05:05:23 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, 05:11:24 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, 06:01:08 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.

hugeblack

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The whole of what you are trying to say can be summed up in the saying that says, "Do not invest except in your money that you do not need during the next 6 months."

It is not to remove pressure, but because you will be forced to sell at times that you know are wrong, but you have no choice but to sell, and therefore your trading options are limited, even if your knowledge and strategy is good and away from pressure.

Therefore, if you do not have that luxury, it is better to invest that money in any low-return investment that is easy to liquidate.

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

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

If you rush in to trade you may end up rushing out as well because what you give to everything in life is what you get in return, some mistakes in trading could have been well avoided if we had maintain a low level self esteem and calmness while looking into the situations around before taking those trades decision, one has to think deeply, make assumptions and compare many features together before arriving on conclusion for any professional trader, this is under risk management which is expected of you to know.

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

- 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.

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.

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1. Do not trade on borrowed funds.
2. Do not trade in a bad mood and well-being
3. Do not set specific goals in terms of money or % of profit for the day, month and year.
4. Do not leave all profits in the account.
5. Do not forget about the risks.
6. Do not forget to set a stop loss
7. Don't average out a losing position
8. Don't get upset over a bad deal.
9. Do not listen to other people's advice.
10. Do not sit for 12 hours at the charts.
11. Do not overtrade
12. Do not enter a trade if there is no signal.
13. Do not look at the variation while trading.
14. Do not constantly switch timeframes while trading.
15. Do not go full-time into trading (living off profits from trading alone) without a financial cushion or other stable income.
16. Do not have illusions about trading
17. Do not relax.
18. Not you are right, but the market is RIGHT!!!
19. Do not forget about loved ones

20. Do not live by trading alone.

20 NO in trading!!!

All these points are very important and even if all points are observed, you can lose money. But the wrong thing is not so fast when betting with those traders who do not follow these rules.

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Don't use much money if you don't have better trading skills because it can make you want to use a lot of money to trade. It's better to use enough money and by analyzing the market, you can get the right coin to make a profit.

You also need to control yourself because trading can also make you panic. If you are tired of trading, you should get out of the market, rest, and don't force yourself to keep trading because that could make you buy the wrong coin. Maybe it was a suggestion before starting trading.

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Quote from: Kara3 on May 16, 2023, 05:05:23 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?

That is because the market doesn't owe you anything. The market doesn't care what's going on in your life, it doesn't care about your ends or your debts. The only thing the market can see is your buy/sell order. So if you put any money because you mindlessly put a trade wanting to have a quick and big returns (which is an unrealistic expectation), the market will take away all your investment and trading account faster. You will be blown.
You cannot disregard your emotion. But you can control yourself not to engage the market when things, and pressure in life are not going in your way so you are not prone to make stupid trades that will make you lose money.

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

-snip-

Crypto trading is an activity that requires a lot of attention to be applied. The main concern that needs is focus.
The focus will provide other positive aspects in conducting trading activities. The pressure the OP mentioned is the output of out of focus.

Besides being able to over trade and not being able to control emotions, trading under pressure such as debt, bills can have an impact on the psychology of traders.
Do not imitate trading activities, but must learn. Don't force it, but it needs to be carried out based on existing capabilities.

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You can only create a trading strategy if you know how to use tools and understand how to read a chart or its graph. Because if you don't know them, the strategy you come up with will be meaningless and meaningless in the end.

It's easy to say that but it's hard to do that in actual trading, Then another thing, there's a lot to consider when it comes to this kind of thing so if you handle it well it will be easy for you to take profit in trading like there's no difference just take the fruit from the tree anytime you want.

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Trading based on pressure will only make the pressure multiply because when trading normally a trader is already under pressure to be able to make a profit plus trying to get a profit because he needs his money to pay for things that are important it will only make trading make a lot of mistakes because it starts in pressure. However, many novice traders think that trading is the fastest way to double the money and open a buy position because they see that there is a panic, the price will fall quickly and improve quickly too but it turns out they are wrong because the panic lasted quite a long time and the decline was very deep, while he need money fast and the next step is to sell with the condition that the asset has fallen quite deeply. The lesson is don't think of doubling money in trading because of urgent need because it's stupid.

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What you are talking about is basically trading when you are on tilt. It’s a poker term. It means you are losing money and are taking irrational bets to win it back. These trades you take don’t make sense they are more revenge trading. And what normally happens you blow your entire account.

Pretty sure this happened to most traders in their early career and you need to control emotions and not let one trade spiral into a loss which ends up blowing your entire account.

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Quote from: blockman on May 16, 2023, 06:54:23 PM

In short, this is what you've said;

Quote from: Kara3 on May 16, 2023, 05:05:23 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.

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In short, this is what you've said;

Quote from: Kara3 on May 16, 2023, 05:05:23 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.

sheenshane

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This is a very important, emotion.
Because managing emotions is effective risk management and can avoid trading under pressure, it's a very important aspect of achieving consistency in trading to become successful. By focusing on these areas, traders can increase their chances of making rational and profitable decisions.

I'd say IMO, practicing mindfulness and stress-management techniques can help traders stay calm and focused during challenging situations.

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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. While the others you mentioned doesn't matter to me (pressure and risk managements) i always make sure that i don't trade under pressure, well, i never have since then.

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

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

I till repeat, b]Don't ever trade under pressure. [/b] 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 .

Not only in trading but in all other aspects of life, pressure is a bad factor in the individual decisions making process and at that, and we must try as much as possible to make every decision devoid of any form of pressure, for the sake of sanity, I agree with you that pressure can lead to massive gains and possible addictions must especially when under pressure to meet up with expectations.

Trading and other high-risk activities shouldn't be taken as a means of making passive income, since there is no consistency in its inflow of cash/ profits, so being subjected to indie pressure could aid the individual to make poor judgements.

Kara3

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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?

Topic: The biggest No while trading (Read 354 times)