On this market, a disciplined trader will always prevail, and I'm sure they are confident in their abilities. Though a proper mindset should be learned by everyone, not just a trader, by everyone who is investing their hard-earned money, this is a terrific insight and piece of advice. Although patience is a virtue, you will still lose money if you lack discipline.
I think no matter what the market is like. You always have to remember one thing. If you ever invest, the first thing you should do is always keep your head cool and think. If you ever get excited, that's it for you. You will face a lot of big losses. Therefore, you should always invest with a cool head when it comes to investment. 
Topic: The right mindset needed for all traders - page 4. (Read 3076 times)
When it comes to investing, you just have to be disciplined. Before investing, you should do your research on previous experience, and once you get involved in cryptocurrency, you should learn to have patience. This is because, by nature, humans are emotional about everything, and when something goes wrong, especially after investing, and is not going our way, we start panicking about what will happen next. Your profitability should be your aim. in every business you should always work on emotion.
Emotional attachments to us cannot be eliminated, but we can control them as long as we know how to keep our emotions steady even when facing extreme situations. The knowledge we have will greatly affect our emotional state, if we don't have much knowledge about the cryptocurrency space then don't be surprised if we easily panic when faced with certain situations. I also agree that experience will give us a positive effect on our psychology. With the experience we got in the past, it will help a lot about what to do in dealing with an unpredictable market like this. 
When it comes to investing, you just have to be disciplined. Before investing, you should do your research on previous experience, and once you get involved in cryptocurrency, you should learn to have patience. This is because, by nature, humans are emotional about everything, and when something goes wrong, especially after investing, and is not going our way, we start panicking about what will happen next. Your profitability should be your aim. in every business you should always work on emotion.
You should never get frustrated when trending but be patient. If you are disappointed by investing in any coin then you are definitely nothing but a fool. Investing in good coins and holding them for a long period of time can definitely earn good profits later on. Of course you should not invest in any coin without understanding it, but if you trade with a good understanding it is possible to become a good trader. And if trading is done without understanding well, then losses must be faced.
It begins with the skills, then move on to perfection and lastly building the right mindset. The right mindset sometimes can be as simple as knowing when not to trade, knowing when to close a trade be it at profit or loss and knowing when to admit a strategy need to be reviewed. The right mindset is a conscious attempt to stay in profit and reduce losses. Every trader defines what a right mindset is based on their experience but everything still point towards discipline.
It starts with willingness and eagerness to learn how to trade because without it you cant gain that skills. Followed by learning and knowledge to know how to trade and after that youll achieved that skills if you already know how to trade, able to read charts and have your own strategy. Our strategy are always modified over the time depending on the market trend as it keeps changing we should also change our strategy because if not we ill be losing also trader are always keep learning even they already know it because of that you can improve more your strategy.
are ones who had been trying out their best but still failed up on this one which does proves out that there are things which arent really meant for us but lets just test out before making out conclusions.
Mindset on here is that you shouldnt really make yourself that in rush in making money because this would really just create that kind of desperation which would in result in lots
of mistakes instead of earning which the thing you should really be avoiding.
At least we've tried if it is really not meant for us but there are times that we have to struggle and we thought that it is not for us but later on, when we continue it just strengthens our skills, try at least 3 times if still not working on you then rest, I am sure for few years will then come back strong and willing to start again. You are right rushing things can make mistakes but it doesn't mean that mistakes are bad, it has also had good sides to them as long as we learn from them, as mistakes are part of our experience which is also improving our skills and self.
It begins with the skills, then move on to perfection and lastly building the right mindset. The right mindset sometimes can be as simple as knowing when not to trade, knowing when to close a trade be it at profit or loss and knowing when to admit a strategy need to be reviewed. The right mindset is a conscious attempt to stay in profit and reduce losses. Every trader defines what a right mindset is based on their experience but everything still point towards discipline.
It starts with willingness and eagerness to learn how to trade because without it you cant gain that skills. Followed by learning and knowledge to know how to trade and after that youll achieved that skills if you already know how to trade, able to read charts and have your own strategy. Our strategy are always modified over the time depending on the market trend as it keeps changing we should also change our strategy because if not we ill be losing also trader are always keep learning even they already know it because of that you can improve more your strategy.
that's why it is necessary to have skills and that we can get by continuing to learn,
that's how it should be because when we only have one strategy or are limited we can't expect it to work
It begins with the skills, then move on to perfection and lastly building the right mindset. The right mindset sometimes can be as simple as knowing when not to trade, knowing when to close a trade be it at profit or loss and knowing when to admit a strategy need to be reviewed. The right mindset is a conscious attempt to stay in profit and reduce losses. Every trader defines what a right mindset is based on their experience but everything still point towards discipline.
It starts with willingness and eagerness to learn how to trade because without it you cant gain that skills. Followed by learning and knowledge to know how to trade and after that youll achieved that skills if you already know how to trade, able to read charts and have your own strategy. Our strategy are always modified over the time depending on the market trend as it keeps changing we should also change our strategy because if not we ill be losing also trader are always keep learning even they already know it because of that you can improve more your strategy.
are ones who had been trying out their best but still failed up on this one which does proves out that there are things which arent really meant for us but lets just test out before making out conclusions.
Mindset on here is that you shouldnt really make yourself that in rush in making money because this would really just create that kind of desperation which would in result in lots
of mistakes instead of earning which the thing you should really be avoiding.
It begins with the skills, then move on to perfection and lastly building the right mindset. The right mindset sometimes can be as simple as knowing when not to trade, knowing when to close a trade be it at profit or loss and knowing when to admit a strategy need to be reviewed. The right mindset is a conscious attempt to stay in profit and reduce losses. Every trader defines what a right mindset is based on their experience but everything still point towards discipline.
It starts with willingness and eagerness to learn how to trade because without it you cant gain that skills. Followed by learning and knowledge to know how to trade and after that youll achieved that skills if you already know how to trade, able to read charts and have your own strategy. Our strategy are always modified over the time depending on the market trend as it keeps changing we should also change our strategy because if not we ill be losing also trader are always keep learning even they already know it because of that you can improve more your strategy.
It begins with the skills, then move on to perfection and lastly building the right mindset. The right mindset sometimes can be as simple as knowing when not to trade, knowing when to close a trade be it at profit or loss and knowing when to admit a strategy need to be reviewed. The right mindset is a conscious attempt to stay in profit and reduce losses. Every trader defines what a right mindset is based on their experience but everything still point towards discipline.
Well I agree that it is very important to have the right mindset if you want to be a successful trader. I also think it can not be for everyone and you must be very intelligent more then most people.
It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.
That's right, the thing that every trader should have to make himself even better. Sometimes many traders ignore things like this, even though this is very important for them to know and apply. Even professional traders must exercise a high level of discipline in their mindset. There is no instant process, let alone not having an adequate foundation and mindset. If you trade without something like this, it is tantamount to burning our money down the drain. It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.
Well I agree that it is very important to have the right mindset if you want to be a successful trader. I also think it can not be for everyone and you must be very intelligent more then most people.
It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.
The mindset and knowledge is the principal thing for s trader to have, knowledge helps a lot in trading it helps trade to be successful. People have wrong mindset about trading that is because they are not informed, they lack knowledge. Trading is not for everyone because not everyone, some people are just concerned about the profit they will make in trading, they don't have time to change their mindset by seeking for knowledge to become successful in trading. Trading are for traders who ready to learn and to follow the rules that is required in trading. It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.
Mindset is one of the biggest make-or-break assets the trader has.
If you have a poor mindset, you are set up to lose, but that doesn't mean that you have to be perfect from the start.
You can have a good mindset and still lose money, however, over time you will grow and will be able to climb to a point where you are profitable.
First, you have to believe you can do it, then set your goals, accept every obstacle as a challenge, and view everything as a part of learning and you will get there.
Some tips for tools a trader can use (next to TradingView) :
Coinglass (Crypto Derivative Data aggregator)
Whaleportal (Crypto Trading Dashboard with Derivative Data)
Best of luck everyone!
If you have a poor mindset, you are set up to lose, but that doesn't mean that you have to be perfect from the start.
You can have a good mindset and still lose money, however, over time you will grow and will be able to climb to a point where you are profitable.
First, you have to believe you can do it, then set your goals, accept every obstacle as a challenge, and view everything as a part of learning and you will get there.
Some tips for tools a trader can use (next to TradingView) :
Coinglass (Crypto Derivative Data aggregator)
Whaleportal (Crypto Trading Dashboard with Derivative Data)
Best of luck everyone!
Well I agree that it is very important to have the right mindset if you want to be a successful trader. I also think it can not be for everyone and you must be very intelligent more then most people.
It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.
It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.
On this market, a disciplined trader will always prevail, and I'm sure they are confident in their abilities. Though a proper mindset should be learned by everyone, not just a trader, by everyone who is investing their hard-earned money, this is a terrific insight and piece of advice. Although patience is a virtue, you will still lose money if you lack discipline.
In trading I think we need not only discipline and patience but we need many things,trading is very complex and that makes trading not that easy,
and regarding that mindset, it becomes an important part and maybe it can be said as the foundation
Trading is a full fledge time consuming work and not a part-time business. Most people think that trading is a part time work and then you can earn a lot of money by doing nothing, which is wrong. In order to place the trades, you need time to study the market and only then you will be able to make 70% winning trades.
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Those who will trade will have profit and loss. There are some traders who lose their head when they lose. I think it is not right to make a sudden decision when losing. There is a fear of losing all the money if you trade with a sudden decision. If you lose by trading, the trader has to keep a cool head and trade. Then you can learn a lot.because that is important, otherwise the trader will be crushed and will never win.
in terms of market analysis, of course, every trader who wants to become a trader, of course, they already have the skills to analyze the market. how could a trader be willing to lose money when trading just because he does not have skills in trading or analyzing the market.
and in essence controlling emotions and applying commitment in trading is one of the most important
On this market, a disciplined trader will always prevail, and I'm sure they are confident in their abilities. Though a proper mindset should be learned by everyone, not just a trader, by everyone who is investing their hard-earned money, this is a terrific insight and piece of advice. Although patience is a virtue, you will still lose money if you lack discipline.
In trading I think we need not only discipline and patience but we need many things,trading is very complex and that makes trading not that easy,
and regarding that mindset, it becomes an important part and maybe it can be said as the foundation
On this market, a disciplined trader will always prevail, and I'm sure they are confident in their abilities. Though a proper mindset should be learned by everyone, not just a trader, by everyone who is investing their hard-earned money, this is a terrific insight and piece of advice. Although patience is a virtue, you will still lose money if you lack discipline.
You should set goals and targets when it comes into your trading capital which you would be thinking that you would make it bigger.Its better to have these target or goals which it could really inspire you on pursuing and making trading decisions on in depth recognition or you are really that keen since you are making yourself lessening out the risk as little as possible.Mindset on minding about being rich would reallyjust push you into bad decisions because you are really that desperate on rushing up yourself on making huge profits which is something that it isnt recommended on doing so.
Stick into something which you do seem that it is really working out or do show positive results.
Stick into something which you do seem that it is really working out or do show positive results.
Setting goals and targets must of course be done first, because we only rely on the initial strategy that we did. If there is a backup strategy it will just follow, depending on market conditions. I don't even have the mindset of getting rich suddenly by trading in crypto, because I know crypto has a lot of risks. and for that reason I started to be careful in setting targets and doing the analysis correctly, this will help minimize losses. Sticking to something that really works and is positive will certainly be safer, but remember that the market is very volatile, what we think is successful and positive will immediately change when the market is not good, plan B is very important.
Making errors and mistakes is part of the journey. Keep repeating it is bad behaviour. I saw some professional traders keep a notebook with them to track their mistakes. They also think about a solution and write it down in the comment box so that they can make a better decision next time.
It's okay if the mistakes are happening again but, you should make sure that mistake didn't happen because you didn't apply some new strategies. It's totally normal to experience the same mistakes when you're trying to correct them. The problem may still exist but you have to be open to correcting those mistakes so that you'll correct it gradually and minimize the error.Life goes on we face different circumstances but we had to learn to put our personal life and business life in two different boxes. Emotion in trading provokes us to make very bad decisions.
Including your emotion in your trade won't trade. That's one of the factors that should be removed when you're trading because if you've been attached on it, that will make you invested on your emotion and won't have a good outcome. 
You asked why traders lose? Well losing is normal as there's no way a trader can accurately predict where the price will go. It's also normal to be attached with our capital because that is our hard earned money and we just don't want it to lose easily but we are trying our best so that we can grow this capital that we put in.
If you are advising traders to careless about their capital then its not different from donating their money in the market but maybe reducing the money that they put in here will help them achieve it. While I don't question the 5 fundamentals that you list but they are helpful and must be followed if we want to become a better trader.
If you are advising traders to careless about their capital then its not different from donating their money in the market but maybe reducing the money that they put in here will help them achieve it. While I don't question the 5 fundamentals that you list but they are helpful and must be followed if we want to become a better trader.
Growing the capital that is put into trading will certainly require good effort in trading. Not just a desire, financial management and doing a good analysis will help grow capital. The risk will still occur, but minimizing the risk is better than nothing. do not trade without trading knowledge, it will not be good for your capital.
do not be careless in trading, because what is at stake is our money or our capital. Sharpen technical analysis, use good strategy, and do financial management so that trading can be profitable.
pursuing and making trading decisions on in depth recognition or you are really that keen since you are making yourself lessening out the risk as little as possible.Mindset on minding about being rich would really
just push you into bad decisions because you are really that desperate on rushing up yourself on making huge profits which is something that it isnt recommended on doing so.
Stick into something which you do seem that it is really working out or do show positive results.
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