If you let "things" influence your trading then you are going to be pretty upset about it in the end. I am not saying that you should be ignoring everything, but at the very least make sure that you pick out what is good and what is not in order to consider it a bit different.
I understand that it is going to be a bit of a difficulty when it comes to making a bit of a wrong decisions, but at the end of the day we all make wrong decisions and if you let things influence you then you are going to make even more wrong decisions as well. I suggest keeping it a bit more strict to your research and your own understanding, without having any influence from anyone or anything. This way you will be able to see it more clearly.
Topic: Things that influence our trading decisions - page 2. (Read 712 times)
It is a sort of trading preparation and we indeed doing this otherwise, we never get what we wanted to happen. But it was not just having that knowledge and skill, we also have to learn how to control our emotions as this is a factor that would affect our trades. That is why I have to encourage people to take it slow and never rush because learning trading couldn't be instant and so much more from controlling our emotions. However, I don't discourage people to try and make losses because in this way are able to learn more.
That's how a professional trader becomes a professional trader. You can make profit, anyone can make profit, but what you do when something goes wrong matters how great you are. Some of these people literally make profit from being ready when things go wrong, and that's how you become a good profitable trader. That doesn't mean that you are going to end up with something weird, it just means that the price may not go where it should go due to some news.Being ready means countless hours trying to find every angle on something you buy, which will of course change some things and that matters. Not a lot of people can do that, it is going to be a bit of a different approach that changes things eventually, and that is going to be when you need to be ready.
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right
There are many free courses and PDF we can get online, even on YouTube to help us improved in our trading journey than buying different courses online to help us improve our trading professionalism when we can get almost related materials for free or with little fee. We need to make good trading decisions for us to enjoy trading or else we are going to lose big from trading and find it very difficult to make profits from it.
of time for them to get a penny if they could simply make tons on trading.Yes, there might be some traders who would really be liking to share up the knowledge but its true that someone couldn't really be able to mimic out on whatever the things that been put up or listed on there. You could really be able to follow on whats written but it wont really be making out assurance that you would really be succeed on this one because there's no way that you could be able to know on what are the other factors which you would be needing to learn which is only possible for it to be acquired through real experience.
Lots of things would really be affecting out your mindset on which it would really be altering your earlier decisions.Its common on which its not something new anymore.
This is why self discipline and control would really be crucial on these kind of times.
This type of thing should not affect the average person who does business, I think that sometimes they are matrices that arise as a result of the popularity of social networks, creating content.
Professional trading is the one that could definitely be found meddling in such situations, but crypto trading basically needs a premise use money that you can afford to lose and understand that gains are determined in the long run. This is for the common mortals who do electronic commerce, who in reality are the vast majority in cryptocurrency commerce.
Learn to program a bot correctly and invest without fear, doing so avoids this type of influence.
Professional trading is the one that could definitely be found meddling in such situations, but crypto trading basically needs a premise use money that you can afford to lose and understand that gains are determined in the long run. This is for the common mortals who do electronic commerce, who in reality are the vast majority in cryptocurrency commerce.
Learn to program a bot correctly and invest without fear, doing so avoids this type of influence.
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right
There are many free courses and PDF we can get online, even on YouTube to help us improved in our trading journey than buying different courses online to help us improve our trading professionalism when we can get almost related materials for free or with little fee. We need to make good trading decisions for us to enjoy trading or else we are going to lose big from trading and find it very difficult to make profits from it.
Trading in cryptocurrencies is a very important matter. Trading may seem easy to you but when you trade you will realize how much you already know about trading. Before starting trading professionally, first you need to know about trading. And besides knowing, you have to put it into practice. First by depositing a small amount of money, you need to gain practical experience and risk of market volatility trading, then when you understand these things well, you can continue trading professionally for profit. It is very important to control your emotions in trading. You should never trade with your emotions. One should always keep a cool head and give up one's greed completely. In trading you can follow others but don't apply other's strategy directly, own strategy is very important in trading.
It is a sort of trading preparation and we indeed doing this otherwise, we never get what we wanted to happen. But it was not just having that knowledge and skill, we also have to learn how to control our emotions as this is a factor that would affect our trades. That is why I have to encourage people to take it slow and never rush because learning trading couldn't be instant and so much more from controlling our emotions. However, I don't discourage people to try and make losses because in this way are able to learn more. Still, trading is primarily the ability to lose and stop losses, if you do not know how to do this, then trading is not for you.
Trading in cryptocurrencies is a very important matter. Trading may seem easy to you but when you trade you will realize how much you already know about trading. Before starting trading professionally, first you need to know about trading. And besides knowing, you have to put it into practice. First by depositing a small amount of money, you need to gain practical experience and risk of market volatility trading, then when you understand these things well, you can continue trading professionally for profit. It is very important to control your emotions in trading. You should never trade with your emotions. One should always keep a cool head and give up one's greed completely. In trading you can follow others but don't apply other's strategy directly, own strategy is very important in trading.
It is a sort of trading preparation and we indeed doing this otherwise, we never get what we wanted to happen. But it was not just having that knowledge and skill, we also have to learn how to control our emotions as this is a factor that would affect our trades. That is why I have to encourage people to take it slow and never rush because learning trading couldn't be instant and so much more from controlling our emotions. However, I don't discourage people to try and make losses because in this way are able to learn more. 
Trading in cryptocurrencies is a very important matter. Trading may seem easy to you but when you trade you will realize how much you already know about trading. Before starting trading professionally, first you need to know about trading. And besides knowing, you have to put it into practice. First by depositing a small amount of money, you need to gain practical experience and risk of market volatility trading, then when you understand these things well, you can continue trading professionally for profit. It is very important to control your emotions in trading. You should never trade with your emotions. One should always keep a cool head and give up one's greed completely. In trading you can follow others but don't apply other's strategy directly, own strategy is very important in trading.
I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
Any trader that can't control their emotions shouldn't be trading because if you ignore the fact that you have a problem and still be trading, your emotions will make you make decisions that would be destructive to your trades. Emotional traders can't be a successful trader, to be successful at trading they have to learn to separate their emotions from their trade so they can make the right calls on when to exit the market or keep holding.
Individuals that has decided to go into the path of trading cryptocurency, you first have to eximained yourself to make sure you can make decisions without your emotions interfering because the market is manipulated to mess with traders leading them to panick buy or sell.
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right
yes I think most of the trader influencers get their money from membership and courses or training and you have a good point if they make dozen of money from their trade why still need our money.
and if they want to help traders out there they should give what information they have into social media like youtube and got money from it rather than sell it
I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
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How will you even encounter a loss if you already have a good strategy in place? A good strategy always have an exit plan that makes sure your losses are at a minimum, what I think someone should have instead of emotional control when it comes to trading is discipline, discipline encompasses even that part so having a discipline means you have control over more fundamental things granted you have a good trading strategy in place.
@Latviand, Although everyone has their own trading strategy, the combination of all the relevant trading tools, candle types, and use of indicators Every trader has their best indicators and strategies that they feel are able to help them understand the market direction better, which can still be labelled as trading strategies. A trader can also decide to only trade at night, in the afternoon, or in the morning because they believe that's the best time to make more successful trades. All those are strategies that one can derive for themselves. But with your strategy, if you allow emotion to take part in the trading decisions you make, then you will likely encounter more losses than you expected. although everyone is not the same. So if you point out facts, always know that everybody is not the same. One can be very good at something practically, but in theory, they may have poor performance, and sometimes vice versa.
* Emotions in trading
Our emotions are part of our human behavior and it has a profound impact on our trading decisions. In the context of trading, the two primary emotions that affect our decision-making are "FEAR and GREED" Fear is a powerful emotion that will push us to think twice about entering and exiting the trade. Sometimes because of our fear of the trade, we exit immediately even though we know that it is too early to do so. And when fear dominates we become overly cautious, which also causes us to miss the opportunity for profitable trade even though we have seen the high probability set-up we should enter a trade but we don't because of fear.
Our emotions are part of our human behavior and it has a profound impact on our trading decisions. In the context of trading, the two primary emotions that affect our decision-making are "FEAR and GREED" Fear is a powerful emotion that will push us to think twice about entering and exiting the trade. Sometimes because of our fear of the trade, we exit immediately even though we know that it is too early to do so. And when fear dominates we become overly cautious, which also causes us to miss the opportunity for profitable trade even though we have seen the high probability set-up we should enter a trade but we don't because of fear.
You become a victim of emotion when you don't have a believed trading system or strategy that works, which guides you to know the entry and existing point of each trade. And to tackle this, one should develop a trading strategy around chart patterns because they are technical analysis simplified which tells you the time to get in and get out of the market because of its proven historical performances in the past.
I think emotion is the greatest problem of a newbie trader. We all have gone through this while starting up but because of experience we can now discuss it as something not very serious but emotion is very serious and need to be put in perspective. One of the ways to work out the fears or emotion is to learn good money management. We fear of our emotion because we don't want to lose our money, so in the same light, if we use stop loss we will do better. However, this is difficult for a new trader to totally leave out emotion while trading because sometimes an experienced trader has same fear.
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right
Bloggers who predict the market are still good psychologists, they constantly deceive the audience, and at this time they earn a lot of money on advertising or trust management of these same people.
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
Personally, I have noticed that so-called experts sell their courses, offer trainings, etc. for ridiculous amounts of money. Now the question is: if you are a successful person, do you have the time to train someone for a mere penny? And almost all bloggers change their predictions very quickly. And in general, they make both upward and downward predictions - that is, no matter how the market develops, they are always right
Things that influence our trading decisions basically a lot
sometimes I do my own research and actually this is must be number one when involve money whether trading or investment. But sometimes too I have a doubt in my heart with my current decision. tho at the end my guess was right.
or I watched people on social media they called an "expert" make my decision even blurred
Most of the time, the trading decisions of people are influenced by the influencers that you've mentioned who are considered to be experts but in reality, they know nothing at all about the market and its movements, there are some channels on YouTube that do analysis and also gives forecasts for the market but their predictions are barely accurate, I know that the market is too unpredictable but if they don't know anything, they shouldn't influence others.sometimes I do my own research and actually this is must be number one when involve money whether trading or investment. But sometimes too I have a doubt in my heart with my current decision. tho at the end my guess was right.
or I watched people on social media they called an "expert" make my decision even blurred
If I talk about myself, the most prominent thing that influences my trading decisions is obviously the market conditions and how they are doing at a certain time, some people make trades at any market condition and some do it only when it is either going up or going down, I do it when it's going up.
You become a victim of emotion when you don't have a believed trading system or strategy that works, which guides you to know the entry and existing point of each trade. And to tackle this, one should develop a trading strategy around chart patterns because they are technical analysis simplified which tells you the time to get in and get out of the market because of its proven historical performances in the past.
Emotion trading is very wrong, any trader entering a trade just because he feel like Bitcoin is about to fall or rise will lose to the market. If you don't have a trading strategy or have read and understood the chart to determine which direction the market is heading don't trade. If you can't control your emotions, your emotions will control you and make you always enter the wrong trades or the right trades wrongly. Many individual has fallen victim to their emotions because if this.
Emotions is one of the things that influence many traders, some professional traders still struggle with their emotions at time but what makes them professional is because they can always control their emotions but as a newbie you'll find it difficult to control your emotions.
If we won't be able to handle our emotions during trading, it will be the one to control us and if we trade based on our emotions, we might only create wrong decisions. Trading is a roller coaster like ride of emotions and it will be the biggest challenge that we have to deal with because no matter how effective our strategies are, if we can't be wise in controlling our emotions, we will still fail. Continuous learning and dealing with every market situation could also train us to control our feelings in all yhe trading decisions that we will do. We shouldn't put too much emotions on trading but rather use our intellectual and analytical understanding.
Many people out there which want to become traders have the mistaken idea that if they want to become traders then they need to master all kind of different indicators and become a master of TA, and while that will help without a doubt, it also very important that people develop some emotional intelligence when they trade, as it is on those critical moments when everything hangs in the balance when the most important outcomes are decided, and if you are an expert on reading charts but you have a low emotional intelligence then you will make a mistake from which it will be almost impossible to recover.
That's what I thought before that you have to learn all the indicators to become a profitable trader. I learned many indicators but instead of making it easy for me to trade, it complicates my trades. If you're going to use an indicator to determine the trend, you can either choose moving averages or Bollinger bands, no need to use both of them in the chart because it's useless.And yes, emotional stability in trading is very important to be successful and that's why some people says that it's 90% psychology and 10% TA.
The two indicator that you use are popular and I always hear them but if we think combining indicators can help us better then why not? We only need to experiment what work better for us. Emotions are one of the factors involved in trading. It can make or break you but I think 90 percent of them is already too much. Like I said earlier there are more things involved in trading.
Despite the fact that it's been talked about several times here, I still see some people disagreeing with it as if it doesn't really matter. Some people think that if you are just good with your trading strategy, you can begin to make profits, which I usually disagree with. There is every possibility that a trader can have a good strategy, but perhaps since we don't usually know the market direction, if a trader who doesn't have a good ability to control their emotions encounters losses, could they be able to bear the loss? Some traders will not, and that's not a good characteristic for a real trader. So, I agree with you.
How will you even encounter a loss if you already have a good strategy in place? A good strategy always have an exit plan that makes sure your losses are at a minimum, what I think someone should have instead of emotional control when it comes to trading is discipline, discipline encompasses even that part so having a discipline means you have control over more fundamental things granted you have a good trading strategy in place. Jump to: