Trade with a business mindset - page 4.

kapalmabur

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Quote from: ScamViruS on October 08, 2022, 04:21:54 PM

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

The problem here is controlling your emotion, I also experienced this when I’m afraid to sell at a good profit because of hoping that the price can still go higher but in the end, I was forced to sell at a loss because of being too greedy not to sell at peak. Having a good mindset is very important, and it can work better if you do your own analysis always because in trading, we should not rely to anyone aside from ourselves.

Yes, in trading it is important to avoid greed because it will make us lose the good moment when we want to sell or buy,
mistakes you make can make a lesson not to repeat the same mistakes,
that's right do your own research and analysis we have to believe in ourselves

Bobrox

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Most people habit trading is the way how to earn much profit and not approach seems as business way how to manage it worth and become passive income with consistent profit earn. Many bad habit why have bad result in trading and several of trader can't adopt with trading as business because loss opportunity and not think clearly before choosing some cryptocurrency for investing. Business build with many step and trading should prepare all basic fundamental seems like business.

Comer from businessman seems easy when controlling their greedy after become investor or trader in Bitcoin, but many people have loss control and not use business mindset when trading, greedy, loss emotional when trading become bad habit and difficult how to make trade as business.

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Quote from: Ararbermas on October 07, 2022, 03:41:12 AM

Trading is a very unpredictable business tbh and you should accept what amount you can get in every trade as long as you can make profits afterwards and not losing money in it. Be practical and always build a good strategy so that you can gradually get your price target. Being greedy will not work so be smart enough..

Most people approach trading with the mindset of always making money, but that is not how business works. You should set limits and develop strategies that will help you make money while minimizing your losses because the entire crypto community is unpredictable. Any time you trade, you should calculate both your profit and loss. Mindset counts a lot in business; occasionally, long-term traders, especially those who are new to the system, may entice you to really sell, but gaining experience from losses should help you learn better since, when it comes to cryptocurrencies, you most likely face financial loss. Once you start involved in trading, you can usually not escape it if you want to get experience.

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Quote from: ScamViruS on October 08, 2022, 04:21:54 PM

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

The problem here is controlling your emotion, I also experienced this when I’m afraid to sell at a good profit because of hoping that the price can still go higher but in the end, I was forced to sell at a loss because of being too greedy not to sell at peak. Having a good mindset is very important, and it can work better if you do your own analysis always because in trading, we should not rely to anyone aside from ourselves.

You will never have a problem with your emotions if you have guidelines set on your trading that you will follow all the time in different situation. Professional have this kind of guide on there trades so that they will open or close there position based on the price conditions and not base on what they feel. Technical play an important role for having a good trade without emotion. You can use it to determine a good price level for selling and buying. Doing this will give you peace of mind that you are doing the right thing rather than rely on your emotion for your decision.

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Quote from: ScamViruS on October 08, 2022, 04:46:13 PM

Quote from: blockman on October 08, 2022, 04:36:38 PM

When you're in profit, think of it that you're already on it, and don't be greedy and take it as quick as you can. As long as your capital has already got the profit, don't hope for that much since your goal is to trade and not to hold. Have that separate thinking if you're going to hold and trade, because in trades, the market is moving quickly while you hold, it's okay to be patient and all you have to do there is to wait.
So closing your trades at profit as soon as you have seen it is what you have to do and don't expect a lot because it will delay you to close those trades.

I agree with you. Building a trading mindset is most important. What I understand from my trading experience is that as the percentage of profit increases, the expectation of making more profit from that trade is also created. I have also taken such trades and was able to close the trade almost at the ATH. So both sides exist here. But yes, it is important to try to stay in favor of the market, if the trader thinks in the opposite direction, it will create a situation of losing capital.

Well, it's a different story when it's about the ATHs. That really triggers us to get the most out of it and make a profit from that moment. But even if it's an all-time high, we want to make sure that we still get profit even if it's not the maximum from it.
As you know what you're doing, you can make profit from it even if it's the desired profit that you're trying to hit. You understand the risk and you're willing to take more of it if you aim for higher.

goaldigger

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Quote from: goinmerry on October 07, 2022, 07:49:44 PM

Just treat trading seriously and don't make it a child's game. If we are really determined to learn to trade, we should focus on working on that. Invest in knowledge as even if we spend lots of money doing trades, if we are not learning the process, then we are just throwing away that money.

It will take time to become familiarize with trading but it's worth it once people achieved that.

Treat trading as your business and by this you can be more focus and act professionally when it comes to trading. Many didn’t realize that their money are at risk here and that’s why they still choose to trade carelessly until they experience the worst result, that is the only time for them to take this seriously.

Trading is very risky, we should not take this for granted and advised by many, it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .

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Quote from: AicecreaME on October 07, 2022, 05:16:01 AM

That's why learning to control your emotions is the top priority list in trading, even in everything you do in your life. Emotion is very tricky, you can be easily manipulated by your own emotions if you don't know how to control it. There's a monk saying that "mind is power" therefore it should be separated on your body, but not literally, lol.

This means that your mind is the master of all the things you'll do, but you must have the power to command it, not the other way around. For example, a bad trade after hours or days of making a good technical analysis could result to a huge frustration and disappointment, your mind will probably tell you to quit or enter a trade without any plan, that's danger right there.

So if you know how to control it, the right thing you'll do is to rest, plan again, and trade again.

As much as possible, never be emotional whatever the outcome of your trades, most particularly if it comes with losses as you will never be successful in trading if you keep chasing your losses. However, losing in trading is a normal thing but if you keep losing in all your trades, then you should start to be worried. Maybe because you are still using your own useless strategy, or maybe your attitude does not fit in trading. So be more flexible and always gain a lot of patience every time you enter into investments or trading activities.

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Quote from: blockman on October 08, 2022, 04:36:38 PM

Quote from: ScamViruS on October 08, 2022, 04:21:54 PM

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

When you're in profit, think of it that you're already on it, and don't be greedy and take it as quick as you can. As long as your capital has already got the profit, don't hope for that much since your goal is to trade and not to hold. Have that separate thinking if you're going to hold and trade, because in trades, the market is moving quickly while you hold, it's okay to be patient and all you have to do there is to wait.
So closing your trades at profit as soon as you have seen it is what you have to do and don't expect a lot because it will delay you to close those trades.

I agree with you. Building a trading mindset is most important. What I understand from my trading experience is that as the percentage of profit increases, the expectation of making more profit from that trade is also created. I have also taken such trades and was able to close the trade almost at the ATH. So both sides exist here. But yes, it is important to try to stay in favor of the market, if the trader thinks in the opposite direction, it will create a situation of losing capital.

blockman

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Quote from: ScamViruS on October 08, 2022, 04:21:54 PM

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

When you're in profit, think of it that you're already on it, and don't be greedy and take it as quick as you can. As long as your capital has already got the profit, don't hope for that much since your goal is to trade and not to hold. Have that separate thinking if you're going to hold and trade, because in trades, the market is moving quickly while you hold, it's okay to be patient and all you have to do there is to wait.
So closing your trades at profit as soon as you have seen it is what you have to do and don't expect a lot because it will delay you to close those trades.

ScamViruS

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The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

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Quote from: Hamza2424 on October 08, 2022, 02:42:03 PM

Your topic name is really good as you said Trade with Business mindset that really a big tip for the new users as the rules in business similar to that you need to be always well prepared for the coming time as you dont know when and from where you can face some problem so Strong believe and determination is needed in the Trading. Trading is a Full time and Part time both type of Work depends on your investment..

His caption actually got my attention to this topic. Trading with a business mindset and the body also is in line with the caption. Taking profit when necessary is what is obtainable. But even in the business, not all that is in business knows how to do business. Some stock their capital in a particular goods for a long time, while some sell with small profit and return to market to buy more goods, thereby turning over accumulated profits.

In other words, a business man will not give up if he fails in a business, but some traders will give up if their attempts wasn't successful. It is just totally subjective to different individuals.

Hamza2424

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Your topic name is really good as you said Trade with Business mindset that really a big tip for the new users as the rules in business similar to that you need to be always well prepared for the coming time as you dont know when and from where you can face some problem so Strong believe and determination is needed in the Trading. Trading is a Full time and Part time both type of Work depends on your investment..

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Quote from: AicecreaME on October 07, 2022, 05:16:01 AM

That's why learning to control your emotions is the top priority list in trading, even in everything you do in your life. Emotion is very tricky, you can be easily manipulated by your own emotions if you don't know how to control it. There's a monk saying that "mind is power" therefore it should be separated on your body, but not literally, lol.

This means that your mind is the master of all the things you'll do, but you must have the power to command it, not the other way around. For example, a bad trade after hours or days of making a good technical analysis could result to a huge frustration and disappointment, your mind will probably tell you to quit or enter a trade without any plan, that's danger right there.

So if you know how to control it, the right thing you'll do is to rest, plan again, and trade again.

Monks are good at controlling their emotions because this is part of their training. In the videos that we see they can mostly sit and close their eyes. I think that is called meditation and you don't have to be a monk to be able to do it but any person can practice meditating.

It helps soothes your mind so that you can think better the next time you trade. Bad trades are always present even if we already made a lot of preparation so we should not think negatively after it. We should rather think that there's always next time and I bet a lot of us are doing better at some days so our previous losses will always be recovered while earning something at the same time.

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The comparison is good but don't you think that is why we have stoplosses and target orders.
After buying an asset we should put a stop loss long with a target and hence the profit and loss are within our risk taking capability.
I am not sure if comparing trading with business is a good idea or not but we must make sure that our capital is safe.
That is the most important aspect of trading.

goinmerry

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Just treat trading seriously and don't make it a child's game. If we are really determined to learn to trade, we should focus on working on that. Invest in knowledge as even if we spend lots of money doing trades, if we are not learning the process, then we are just throwing away that money.

It will take time to become familiarize with trading but it's worth it once people achieved that.

Oceat

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Greed will just ruin your trading method and that's the reason why most of the traders suffer from losses or not gaining enough profit. If you think it this way like how businesses do, you'll notice that they have a day that their sales didn't make enough profit for what they've expected but still continue their business on the next day.

In order to make profit they have to do something like marketing strategy and this is what the Bitcoin market would look like if you see how news affect the price of the market. It's a grinding method everyday not a grinding method in one day that's why most traders suffer from losses.

Falconer

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Actually, it can be overcome if we have set a trading plan consistently, both by procuring a structured portfolio.

It is difficult to be faced with greedy words, but we must be aware that the market moves very high fluctuations.

Of course, It is difficult to determine between greed and maximizing opportunities. I understand that sometimes completely trusting in a certain asset will not be good especially if it is not bitcoin, here between greed and maximizing available opportunities will come into play.

Price fluctuations are unavoidable even if it is a stablecoin, so it is true that one can hesitate to say others are greedy or not when they want to maximize profits by taking advantage of these fluctuations. After all, going all-in on one particular asset shouldn't be called greedy, but it would be wise to have some spare money in addition to investing.

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Quote from: The Cryptovator on October 07, 2022, 02:53:08 PM

I learn from the time I spent in cryptocurrency that greed is the main problem in cryptocurrency. I had lost a lot due to greedy trading behavior. Over-expectations aren't good always. Then it will be like gambling. I agree with OP that we have to take profits from trade with a min target. Once reach the target we can exit and re-enter once again. This is real life business strategy, selling things and buying again with a profit margin. Not hold for a lifetime with over expectations.

Simply buy and then sell in profits but it might sound that very pretty basic but this is something that you cant really able to do in the right way.Greed would be always your main enemy when it comes to making

money matters which we do know that business or any other activities that involves money will surely be that your main challenge.Setting up some goals shouldnt really be on that unrealistic level.

Take your time on achieving or acquiring it,without the need of being too desperate or making yourself in a rush because we know that this do really cause and results
into lots of errors or mistakes which we dont really like for it to happen.

The Cryptovator

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I learn from the time I spent in cryptocurrency that greed is the main problem in cryptocurrency. I had lost a lot due to greedy trading behavior. Over-expectations aren't good always. Then it will be like gambling. I agree with OP that we have to take profits from trade with a min target. Once reach the target we can exit and re-enter once again. This is real life business strategy, selling things and buying again with a profit margin. Not hold for a lifetime with over expectations.

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Quote from: Awwal08 on October 07, 2022, 11:52:23 AM

I see trading as a business, so anyone who does not have that mindset is wasting is time because both are looking forward for profit. In my own view trading is not a physical business, that why I advise any trader to no rely on trading, have a physical business because of unforseen circumstances.

Sometimes if they are used to trading they will forget that there is something to prepare when the market is unstable. I am a person with a similar perspective, but I have also set up a small business in real life to cover the income. Therefore it is better to be on guard for things we do not know before it is too late.

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