The pressure,fear and indecisiveness that comes with trading. - page 6.

AbuBhakar

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Quote from: Pressurizedem on June 22, 2024, 01:24:11 AM

Trading has always had it ups and downs,but you come to realize that those ups and downs are what really makes trading interest and unpredictable,this is the reason why before one becomes a trader,he should try to see the risks of it and the good side of it because if he rushes into it without making some research about it,knowing the right things to do,it will down on him at the zero zero hour.

You are describing like a gambling. But you’re right that the volatility is what makes trader profit in trading since the higher the changes is the greater profit they can get.

This is one of the reason why leverage was invented since trader want more price action on a stable assets such as fiat. With leverage feature, a minimal movement will resulted to a huge gain/loss depending on the leverage use.

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Moreover,so many persons are scared away because of the pressure and fear that accompanies trading,but they need to go back and rethink,make up their mind,and come back to trading because with time,they will get to know the modus Operandi of trading,and how it works.

Many are scared because they don’t have any clue about trading. It’s really fearful if you don’t have trading skills since you are competing with other traders in able to gain in trading. Fear and pressure is understandable feeling if you knew to yourself that you are not good on trading.

EarnOnVictor

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Those ups and downs you mentioned are what make trading to be very interesting and I can't imagine how it would be very boring if there were no such things, undeserved rewards would be too much. Trading is just like a rewarding puzzle, if you solve it rightly, you get to earn the rewards, but they aren't always easy. Although it doesn't look like that from the outside, I mean how the whole thing is structured, but in reality, it is tough.

This is the situation where your money could be blown to your face pretty fast if you misjudged the condition or/and misacted, and this has to do with a whole lot more than just you or the trading itself. It has to do with the theory, practice, real-time interpretation, management, psychology and coordination. If anyone misses it in any or all of these, such can't secede in it.

Initially, it was a trading secret I was pursuing not knowing that there is no such thing, but that success in trading lies within.

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Pressure, fear, and indecisiveness - all these things make us feel uncomfortable and a reason for our failure.
It is better to change the way we think about trading and instead of being too emotional, we'd rather keep calm and stay on our goal.

It is necessary we have to be fully knowledgeable about the market but what we need to is how to control our emotions because if we can't, then we also never expect a profitable trade either.

More and more people try to trade but only a few are left and succeed and the majority are at a loss due to emotional problems. Therefore, it was not just knowing how to trade but also, how to become strong and mentally ready about the up and down situation.

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A huge part of trading is about keeping your controlling your emotions and not letting them alter your decision-making and risk management. Who wouldn't't be scared, excited or anxious once in a while where money is involved?
The difference comes on who you manage the emotions.

I have been affected by emotions so many times when trading. Sometimes I would not want to take the L and keep the position open for so long only to suffer a bigger loss or When the position would be 200% in profit, I would not want to take the profit waiting for it to go further only for the profits to diminish Grin

Now, the same thing would also happen to some of my colleagues that I would try to teach how to trade, which shows that it's a common human trait.

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Quote from: slaman29 on June 22, 2024, 04:33:08 AM

That's why I repeat again and again about trading. It's not about skills, it's not so much about TA and knowing markets etc. The things you need to understand you can't pay for. You can only practice.

That's discipline and methods to prevent or lessen the impact.

First, if you can't trade ALL your trades by specifying entry and exit, and you can't stick to them profit or loss, then you need to understand trading is not for you.

Second, if you can't control yourself, get a buddy system. Somebody who knows your trades, what's your entry and exit, and bankroll commit. Then if you lose discipline, he is there to tell you, hey, exit now buddy. Just like you said you would.

Forget about all the stupid courses teaching you TA and identifying what not. You focus on building your discipline and emergency system. If you do that you are already better than 99% of traders.

Pressure, fear, indecisiveness comes in a lot of jobs, but any online work that makes you read constantly and compute? And especially money involved? Gambling, anybody? lol

Actually some of the point you mentioned are quite valid no doubt, but in as much as knowledge is paramount here, knowledge alone can't make you to be successful in trading, self discipline, knowing how to control your emotions like fear and greed , knowing how to manage your risk properly is very much important, so if you have the discipline required but doesn't have the required knowledge, it's definitely not taking you anywhere, so in other to be successful, all this component that you and I have mentioned must come together, or in other words, you must possess all the skill required, if not, you you wouldn't be a profitable traders.

Am saying this because I have seen so many traders that have the discipline on how to control their emotions, but they don't even know how to read a candle sticks or chart pattern, they don't even know technical analysis, and all their effort was just rubbish, because they don't even know what they are doing, so knowledge is very much important just as emotional control, and knowing how to manage your risk properly.

slaman29

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That's why I repeat again and again about trading. It's not about skills, it's not so much about TA and knowing markets etc. The things you need to understand you can't pay for. You can only practice.

That's discipline and methods to prevent or lessen the impact.

First, if you can't trade ALL your trades by specifying entry and exit, and you can't stick to them profit or loss, then you need to understand trading is not for you.

Second, if you can't control yourself, get a buddy system. Somebody who knows your trades, what's your entry and exit, and bankroll commit. Then if you lose discipline, he is there to tell you, hey, exit now buddy. Just like you said you would.

Forget about all the stupid courses teaching you TA and identifying what not. You focus on building your discipline and emergency system. If you do that you are already better than 99% of traders.

Pressure, fear, indecisiveness comes in a lot of jobs, but any online work that makes you read constantly and compute? And especially money involved? Gambling, anybody? lol

Pressurizedem

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Trading has always had it ups and downs,but you come to realize that those ups and downs are what really makes trading interest and unpredictable,this is the reason why before one becomes a trader,he should try to see the risks of it and the good side of it because if he rushes into it without making some research about it,knowing the right things to do,it will down on him at the zero zero hour.
Moreover,so many persons are scared away because of the pressure and fear that accompanies trading,but they need to go back and rethink,make up their mind,and come back to trading because with time,they will get to know the modus Operandi of trading,and how it works.

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