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Topic: Ways to stay completely sane while trading crypto (Read 457 times)

sr. member
Activity: 630
Merit: 277
Trading is indeed not for the faint hearted. The reason some traders are usually restless is because of lack of confidence. Sometimes this is because they are not too experienced in trading, or that they know only few things about trading and also because they are trading with amounts they cannot afford to lose. This are the only reasons that will make anyone to look at their screens 24/7 just because they don't want to miss out on anything.

That is an unhealthy behaviour which does not only put our money at risk, but our health also. Taking a break from trading is not always a solution,  trade with what you can afford to lose and don't forget to keep learning so as to build your confidence. If it's not working for you, take a break.
sr. member
Activity: 1008
Merit: 392
Underestimate- nothing
Crypto market is open for 24/7 so we can trade anytime we want. We can set our time when we trade and when we can do other things so we can have a live life like a normal person. No need to chase the profit and trade all day long because that can makes you tired and can not focus with your trade.

Uris crypto is open 24/7 and we all have the time to do what ever investment we want to invest and if we want to trade this is also one of the best times to invest and trading is very addictive because you can spend the whole day trying to want to make money and there is no way that you will not want to chase the profit because it very important just that the moment you become addicted you will find it very hard to make out time for your self you will always want to trade.


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If you losses in trading, you don't have to feel sad because that is part of your lesson so in the next trade you will be careful analyze the price. We need to know that trading needs to have skill so we can analyze better but we need to manage our time. Don't forget to take breaks after you trade for hour to calm down your minds.

This is one thing that is affecting a lot of users when they lose money they always want to make it back and it is very difficult for you to make it back the same time and you doing revenge trading will not go well, and all you can do is to alway hope for a better time to trade, time management is very important when you want to trade because you might spending the whole day trading.
legendary
Activity: 2800
Merit: 1127
I am making huge lose on all my trades right now but still chilling because I believe in the long run I can at least make a profit if not then I might have to close the trades at break-even prices.
That's sad to hear but that's right. Sometimes all you need to do is to stay strong and stay positive that everything will be just fine eventually. Saying 'at least make a profit' seem small amount only and may not cover up your huge losses but that is still better. At least you can see a hope. Maybe that is only the start of something huge, right? To become break-even is also better than losing. That is more surer though than the other. Sitting on a loss seems crazy, so I think no one or not many are doing that (if ever there are still who does) but I think that also makes them to get used to it and they won't feel bad anymore seeing losses in the future.
hero member
Activity: 3220
Merit: 678
www.Crypto.Games: Multiple coins, multiple games
What you have described is a classical example of gambling and not trading. Anyone willing to risk 100% of their capital in a single trade is more or less saying he is willing to lose all the funds if the trade go bad and which is mostly the case for such type of traders because they don't have the mental readiness to manage their capital properly. This class of people does not last long in trading because the market will always find time to deal with them and make them learn the hard way. You will therefore, agree with me that it is bad habit to risk 100% of your capital in a single trade.
There has been people who took money that didn't even belong to them, and bet hedged with it, and lost it all and literally ended their lives. Of course people are not ready to trade long term like this, they are insane for doing it. But what I mean is that those are extreme cases, 100% is a lot, but if someone trades with 10% of their money, that's actually not bad in our world, in the crypto world I mean. This isn't Axe capital where every move is millions, we are poor schmucks who have 100 bucks to invest, so believe me, people can be quite daring when that's all they have.

But even when you grow to a few thousand dollars, 10% is what you do, not 1%, because 1% is nothing, you can't trade with 1-20 dollars range, that's just not possible, plus wouldn't even bring in any value, if you trade ten bucks, even at ten percent return, that's a dollar. So yeah, that may sound like gambling to you, but it's just literally the only way to trade when you are poor, and 1% is just not possible.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
Anything that is done 24/7 is insanity. Trading should always be kept in the side hustle category in my opinion. Dont get it get over your head and dont lose sleep over it.

There are preparations and methods to make sure you remain sane and have a cushion to back yourself in if the market crashes. Trading is thus not for any newbie trying to get-rich-quick, it is a long process with its ups and downs.

Often not trading is also a good thing. Never leave your job to pursue trading, it is not worth it.
sr. member
Activity: 1624
Merit: 339
https://duelbits.com/
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This strategy is used by beginners who have only a few bucks on their balance sheet and for whom it makes no sense to adhere to the risk management strategy, since they essentially have too small a deposit. And they, like in a casino, bet their dollar with a leverage of x100 and in this case they either get a profit of $100 or lose their dollar.
Each person has their own strategy in trading depending on how they manage their finances well, even if it doesn't match their trading management strategy. This strategy is used by beginners with Leverage x100 hoping to make a bigger profit or lose it all. The crypto market is very cruel for beginners. The fluctuating prices are very difficult. you can guess at any time you can trade without knowing the time.
The right strategy is to focus on the main goal, don't trade within 24 hours, it can lead us to despair, in the end we no longer think normally. Well, if you divide your capital into several This small section is appropriate for good management for beginner traders.
legendary
Activity: 2268
Merit: 1655
To the Moon
What you have described is a classical example of gambling and not trading. Anyone willing to risk 100% of their capital in a single trade is more or less saying he is willing to lose all the funds if the trade go bad and which is mostly the case for such type of traders because they don't have the mental readiness to manage their capital properly. This class of people does not last long in trading because the market will always find time to deal with them and make them learn the hard way. You will therefore, agree with me that it is bad habit to risk 100% of your capital in a single trade.

This strategy is used by beginners who have only a few bucks on their balance sheet and for whom it makes no sense to adhere to the risk management strategy, since they essentially have too small a deposit. And they, like in a casino, bet their dollar with a leverage of x100 and in this case they either get a profit of $100 or lose their dollar.
sr. member
Activity: 574
Merit: 297
Trust the process, imbibe consistency
The risk management strategy consists not only in setting a stop loss, which will prevent the liquidation of your deposit, but also sets a maximum amount of 3-5% of your deposit for opening an order. And it can also be applied to gambling, thus limiting the size of the bet.
Wait, do you mean someone can use as high as 3% to 5% of the equity for a single order? That is outrageous. That means using the upper limits, if something goes wrong, the trader will be burnt out in 20 traders? There is hardly risk management in this. From what I know, the highest exposure you should be willing to do is 1% of your capital. If you have $1k in your trading account, you should never lose more than $10 per trade so that you can remain in business for as long as necessary and when hard luck hits, you will be able to shoulder it and not get liquidated.
Lol, you really don't know crypto traders, I have seen multiple times people doing 100% on a single trade, if they are right then they make money, if they are wrong then they lose it all. These are not professional wall street brokers, they are not aware of what risk management is. The amount of people who trade 10%+ of their entire capital on a single trade is way more than you think.

So at the end of the day, yes, 3-5% is a good advice because it would be drop for 90% of the traders, most of them do a lot more. I started the same way too, because I had very little money, I had 150 bucks at my best time at the start, how am I suppose to do 1% of that, trade 1.5 dollars? That ain't happening, I did all of them, and eventually I made some and lost some but here I am, doing fine. So yeah, 3-5% is a good risk management.
What you have described is a classical example of gambling and not trading. Anyone willing to risk 100% of their capital in a single trade is more or less saying he is willing to lose all the funds if the trade go bad and which is mostly the case for such type of traders because they don't have the mental readiness to manage their capital properly. This class of people does not last long in trading because the market will always find time to deal with them and make them learn the hard way. You will therefore, agree with me that it is bad habit to risk 100% of your capital in a single trade.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
Crypto market is open for 24/7 so we can trade anytime we want. We can set our time when we trade and when we can do other things so we can have a live life like a normal person. No need to chase the profit and trade all day long because that can makes you tired and can not focus with your trade.

If you losses in trading, you don't have to feel sad because that is part of your lesson so in the next trade you will be careful analyze the price. We need to know that trading needs to have skill so we can analyze better but we need to manage our time. Don't forget to take breaks after you trade for hour to calm down your minds.
hero member
Activity: 3220
Merit: 678
www.Crypto.Games: Multiple coins, multiple games
Risk management by determining where and when you should stop when you win or when you lose continuously.
But of course, it is not necessary to start getting used to the strategy that has just been implemented. ..
The risk management strategy consists not only in setting a stop loss, which will prevent the liquidation of your deposit, but also sets a maximum amount of 3-5% of your deposit for opening an order. And it can also be applied to gambling, thus limiting the size of the bet.
Wait, do you mean someone can use as high as 3% to 5% of the equity for a single order? That is outrageous. That means using the upper limits, if something goes wrong, the trader will be burnt out in 20 traders? There is hardly risk management in this. From what I know, the highest exposure you should be willing to do is 1% of your capital. If you have $1k in your trading account, you should never lose more than $10 per trade so that you can remain in business for as long as necessary and when hard luck hits, you will be able to shoulder it and not get liquidated.
Lol, you really don't know crypto traders, I have seen multiple times people doing 100% on a single trade, if they are right then they make money, if they are wrong then they lose it all. These are not professional wall street brokers, they are not aware of what risk management is. The amount of people who trade 10%+ of their entire capital on a single trade is way more than you think.

So at the end of the day, yes, 3-5% is a good advice because it would be drop for 90% of the traders, most of them do a lot more. I started the same way too, because I had very little money, I had 150 bucks at my best time at the start, how am I suppose to do 1% of that, trade 1.5 dollars? That ain't happening, I did all of them, and eventually I made some and lost some but here I am, doing fine. So yeah, 3-5% is a good risk management.
hero member
Activity: 1722
Merit: 801
You deliberately ignored the figures I gave, because I wrote about 3-5%, but you made the calculation based on the maximum value. If you calculate 3% of the deposit, the trader can make 33 unsuccessful trades. But you have to be a complete loser, who has no place in trading, in order to make only unprofitable trades) In addition, there is such a thing as Risk/Reward, according to which one successful trade must compensate for the loss of at least 3 unsuccessful trades. Every trader can reduce this percentage if they have enough capital, but even with $1,000, you are unlikely to open an order for 10 bucks.
Splitting capital to many small pieces is a good capital management for newbie traders. It helps newbie traders to reduce loss, and have many repetitions of trading, to practice what they learn and to experience in the market.

Splitting capital to 33 pieces, can give a trade more than 33 opportunities of practice trading. I assume that a bad trader does not lose 100% of 1 capital piece with a single trade. With this assumption, a trader with 33 capital pieces can have like 66, 99 or more trading opportunities.

Knowledge about the market, trading (fundamental and technical), and experience in the market are most important contributors for a trader success.
legendary
Activity: 2268
Merit: 1655
To the Moon
Risk management by determining where and when you should stop when you win or when you lose continuously.
But of course, it is not necessary to start getting used to the strategy that has just been implemented. ..
The risk management strategy consists not only in setting a stop loss, which will prevent the liquidation of your deposit, but also sets a maximum amount of 3-5% of your deposit for opening an order. And it can also be applied to gambling, thus limiting the size of the bet.
Wait, do you mean someone can use as high as 3% to 5% of the equity for a single order? That is outrageous. That means using the upper limits, if something goes wrong, the trader will be burnt out in 20 traders? There is hardly risk management in this. From what I know, the highest exposure you should be willing to do is 1% of your capital. If you have $1k in your trading account, you should never lose more than $10 per trade so that you can remain in business for as long as necessary and when hard luck hits, you will be able to shoulder it and not get liquidated.

You deliberately ignored the figures I gave, because I wrote about 3-5%, but you made the calculation based on the maximum value. If you calculate 3% of the deposit, the trader can make 33 unsuccessful trades. But you have to be a complete loser, who has no place in trading, in order to make only unprofitable trades) In addition, there is such a thing as Risk/Reward, according to which one successful trade must compensate for the loss of at least 3 unsuccessful trades. Every trader can reduce this percentage if they have enough capital, but even with $1,000, you are unlikely to open an order for 10 bucks.
sr. member
Activity: 574
Merit: 297
Trust the process, imbibe consistency
Risk management by determining where and when you should stop when you win or when you lose continuously.
But of course, it is not necessary to start getting used to the strategy that has just been implemented. ..
The risk management strategy consists not only in setting a stop loss, which will prevent the liquidation of your deposit, but also sets a maximum amount of 3-5% of your deposit for opening an order. And it can also be applied to gambling, thus limiting the size of the bet.
Wait, do you mean someone can use as high as 3% to 5% of the equity for a single order? That is outrageous. That means using the upper limits, if something goes wrong, the trader will be burnt out in 20 traders? There is hardly risk management in this. From what I know, the highest exposure you should be willing to do is 1% of your capital. If you have $1k in your trading account, you should never lose more than $10 per trade so that you can remain in business for as long as necessary and when hard luck hits, you will be able to shoulder it and not get liquidated.
hero member
Activity: 3080
Merit: 603
Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person. The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade.
Actually, you're right. The reason for others why they're losing is because they are overtrading. They check the markets for so long and take their whole time on it. I cannot blame them for that though because it's normal for traders to do that. But it's true that we don't have to do such trades and be on it 24/7. The market is always open and there are tools that will help us trade like the ones that exchanges have and that's about setting stop loss and some profit taking in prices.

Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
Taking some fresh air when the markets are bad. And still take some fresh air when you've won trades, that feels better.
legendary
Activity: 2268
Merit: 1655
To the Moon
Risk management by determining where and when you should stop when you win or when you lose continuously.
But of course, it is not necessary to start getting used to the strategy that has just been implemented. ..

The risk management strategy consists not only in setting a stop loss, which will prevent the liquidation of your deposit, but also sets a maximum amount of 3-5% of your deposit for opening an order. And it can also be applied to gambling, thus limiting the size of the bet.
legendary
Activity: 2772
Merit: 1888
Rollbit.com | #1 Solana Casino
Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity...

The very first piece of advice that will allow you to sleep soundly at night is to follow the risk management strategy. Otherwise, your nervous system will be constantly under stress, and your wallet will be empty, which will bring only negative emotions into your life.
Risk management by determining where and when you should stop when you win or when you lose continuously.
But of course, it is not necessary to start getting used to the strategy that has just been implemented.

Sometimes people who are too carried away in gambling games will continue to play without any strategy and this makes them become more stressed and interfere with their lives.
I also don't carry gambling in my sleep, I mean finish all the games before I go to sleep, so that there is nothing I think about or other burdens while falling asleep.

Because I have also lost several game sessions and made me stressed, I finally avoided risky games.
I prefer to bet on soccer games that I know and bets like this can give me quite peace of mind and only the minimum amount of money I bet.

It is one of the same ways that I use to gamble or bet, nothing can escape the insane struggle but we can minimize the risk.
hero member
Activity: 1568
Merit: 822
Leading Crypto Sports Betting & Casino Platform
It's quite excessive because we live life not always have to be full of time trading and even professional traders are not involved in trading in that way. We can manage time to be involved in trade and do not need to pursue part time to trade because there are other things that also need to be done. There is no guarantee that in trade we will get regular benefits every time trading so this must be a consideration factor so that we can more easily control emotions.

For risk management and manage well so that we can better understand the trade process and we will be far more prepared to trade in the right way. Don't be greedy and take advantage that has been obtained even though it is small because of pursuit of large profits, it will not necessarily provide certainty in trade.
hero member
Activity: 3164
Merit: 611
BTC to the MOON in 2019
Trading in the first place can always be risky, that means even taking out your sanity. But the point is, in order to avoid the feeling of being insane, don't force yourself to trade when you are not ready to face its risks and challenges. Don't enter in a situation where you find it difficult to apply risk management. And lastly, trading is always a choice, that's never a compulsory one just to create an income, so find your own means where you are more suitable to fit in without feeling insanity and frustration.
legendary
Activity: 2268
Merit: 1655
To the Moon
Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity...

The very first piece of advice that will allow you to sleep soundly at night is to follow the risk management strategy. Otherwise, your nervous system will be constantly under stress, and your wallet will be empty, which will bring only negative emotions into your life.
hero member
Activity: 2408
Merit: 584
Patience, discipline and balance are very important in trading.  Patience, discipline and balance are very important in everything, not just trading. If you can learn to be patient, you will surely find yourself succeeding anywhere  Especially newbies should remember not to take extra ricks the second time after winning the first time  Because most of the newbies think they are very experienced without learning trading and make a small mistake due to over confidence. They have to remember that one small mistake can destroy all their dreams. So, newbies should not chase the market, control themselves, take advice from a competent mentor and work in a planned manner.
Now changes are quickly happening around us with everyone want to be had big profit in short period which is surely not easy just because of this now things like these are parted away from us like Patience, Discipline and Balance. But one thing is sure if peoples those still love to do things like these are having better life and profit into their business and trading because this is right path for success in life currently a huge number of newbies are entering in trading just because of hype of social media which is creating greediness and methods of going to be rich in quick time.

Sometime peoples those are had good start in trading feel now they are going to be had good time but their overconfidence approach and greediness kills them with sudden loses bring problems for them which needed to be settled with patience.
hero member
Activity: 1428
Merit: 513
Payment Gateway Allows Recurring Payments
Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person. The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
Okay I am laughing, and then suddenly I remember my losses and I feel insane again haha just kidding. I am making huge lose on all my trades right now but still chilling because I believe in the long run I can at least make a profit if not then I might have to close the trades at break-even prices.

I also have a suggestion for you that never sit on lose for too much time, if you have sat on loses on one or some trades for too long then never ever get out of them, because the moment you will leave those trades you will be at lose, I can be wrong, as it's not so logical to say this but don't know why everytime I make this move market moves otherwise. The market play with sentiments but I don't know just like Instagram how the market come to know what my sentiments are!
hero member
Activity: 2968
Merit: 687
~
You don't need to watch the market 24/7. Set up signals and use tools to assist you. Watching changes for all your assets all the time is going to quickly burn you out and would inevitably lead to bad decisions imo. If you wanted to you can set up bots to automatically move your assets for worse case scenarios to avoid anything immediately bad.

Or just leave, like me. Honestly trading burned me out pretty badly when I tried it out at first so I switched to just doing DCA. Now recently I've been doing some light trading here and there, much prefer it like this compared to concentrating on it all the time.
yeah plenty of tools can be taken advantage of from alarm to SL/TP, at this point I don't think watching the market 24/7 even a valid reason, even proper TP/SL already freed us from going the mental torture of watching the market and risk being liquidated for the whole account. for people who did DCA, they can easily just accumulate at every good support or dips, for future trader, they can simply do the same but with SL. it's trading is pretty easy right now.

I'm seeing it as more of lack of curiosity to figure out some tool that can actually improve their quality of life.

SL/TP would really be that significant when you are making some short trading but on the time that you will be making up some holding then these things will be that irrelevant. When doing trading then everything will really be that needed up to reconsider on what are the probabilities and chances about losing and profiting then you will be that needing up that adjustment on the time that you do deal up with crypto trading. Complete sane? you should be needing up to consider out such approach because at the time or moment that on making up trades then its been that good that you do really know on what you should be doing because you wont be having that kind of progress if you will be that losing that control because at the time that you do deal up with this volatile space then you should be that prepared on whatever things that you do need up to do.

Trading crypto or a volatile market is never been that easy and since we are just humans and its normal that we will be that having these reactions and on the moment that you are experiencing loses then you will be having that kind of disappointment or anger on which this will be causing up for you to make up bad decisions on which we know that it will really be that something that very common for traders. So it will really be that making up some adjustment.
member
Activity: 119
Merit: 23
OrangeFren.com
Patience, discipline and balance are very important in trading.  Patience, discipline and balance are very important in everything, not just trading. If you can learn to be patient, you will surely find yourself succeeding anywhere  Especially newbies should remember not to take extra ricks the second time after winning the first time  Because most of the newbies think they are very experienced without learning trading and make a small mistake due to over confidence. They have to remember that one small mistake can destroy all their dreams. So, newbies should not chase the market, control themselves, take advice from a competent mentor and work in a planned manner.
hero member
Activity: 3010
Merit: 538
Leading Crypto Sports Betting & Casino Platform
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You don't need to watch the market 24/7. Set up signals and use tools to assist you. Watching changes for all your assets all the time is going to quickly burn you out and would inevitably lead to bad decisions imo. If you wanted to you can set up bots to automatically move your assets for worse case scenarios to avoid anything immediately bad.

Or just leave, like me. Honestly trading burned me out pretty badly when I tried it out at first so I switched to just doing DCA. Now recently I've been doing some light trading here and there, much prefer it like this compared to concentrating on it all the time.
yeah plenty of tools can be taken advantage of from alarm to SL/TP, at this point I don't think watching the market 24/7 even a valid reason, even proper TP/SL already freed us from going the mental torture of watching the market and risk being liquidated for the whole account. for people who did DCA, they can easily just accumulate at every good support or dips, for future trader, they can simply do the same but with SL. it's trading is pretty easy right now.

I'm seeing it as more of lack of curiosity to figure out some tool that can actually improve their quality of life.
sr. member
Activity: 532
Merit: 250
Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.

Losses are what are not negligible, whether you like it or not, losses will find you no matter how perfect you are at trading and the number of wins you may have accrued all the time you’re trading. It is a part of the process that makes you better and also know your mistakes to also make adjustments on. The trading market is very big and only few percentage of them have been said to be successful. Not that many don’t know how to trade, but most of other factors have contributed to them not being successful. Factors like greed, fear, impatience etc are what has hindered some traders from achieving success in the trading world.

I find it really challenging to stay being rational or sane despite of the risks while you are trading. Maybe for some experienced traders, this could be a piece of cake, but majority will hardly do it. Trading can be correlated to gambling, don't play it hard on your part, otherwise everything will end up as losses if you are forcing things for yourself. Trade if you can, but never compromise yourself if you can't be a good trader anyway.

Trading is not that easy as some people make it sounds. It is very hectic and requires a lot of your time and effort to make things work. It’s very challenging and demanding that requires you to make decisions that will make you feel bad at some times if it goes wrongly and give you sense of hope when it’s on the positive side. When you trade without knowledge can be correlated to gambling and nothing much.
hero member
Activity: 2954
Merit: 719
I find it really challenging to stay being rational or sane despite of the risks while you are trading. Maybe for some experienced traders, this could be a piece of cake, but majority will hardly do it. Trading can be correlated to gambling, don't play it hard on your part, otherwise everything will end up as losses if you are forcing things for yourself. Trade if you can, but never compromise yourself if you can't be a good trader anyway.
sr. member
Activity: 490
Merit: 325
After reading the op I remembered the popular quote about work “all work and no play makes jack a dull boy” relating this with free time op is actually right. The pressure most people apply when trading probably this is the reason they get angry after a little loss, I have seen more topic talking about preferring trade and investing over family and free time although it doesn’t work that way rather loss is unpredictable. Financial ability is also another factor traders should consider if they want to maintain a healthy and standard mindset.

Sometimes this things doesn't really apply in all situations. There are people that doesn't have any life aside from this trading, they stay in door all through because that's their life and they are always active. You can be on trading chart 24/7 and still makes your digits and you can do it half day and still print money and it can go the other way round. The thing about trading is that there is no definite route to success trading, it's about the user and not the pattern.

Even OP that is giving suggestions and all sort of advise, I'm not sure if he applied some of the things he said. Some people does things because it's their opinion and what they think and it's not what they practiced, some people do because they want to rank up and for that reason they post what they want to share probably to get attention of merit source or people that will garnish their post with merit. It could for plenty of many other reasons, trading on paper is different from trading in reality.
hero member
Activity: 2758
Merit: 675
I don't request loans~
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You don't need to watch the market 24/7. Set up signals and use tools to assist you. Watching changes for all your assets all the time is going to quickly burn you out and would inevitably lead to bad decisions imo. If you wanted to you can set up bots to automatically move your assets for worse case scenarios to avoid anything immediately bad.

Or just leave, like me. Honestly trading burned me out pretty badly when I tried it out at first so I switched to just doing DCA. Now recently I've been doing some light trading here and there, much prefer it like this compared to concentrating on it all the time.
sr. member
Activity: 182
Merit: 120
After reading the op I remembered the popular quote about work “all work and no play makes jack a dull boy” relating this with free time op is actually right. The pressure most people apply when trading probably this is the reason they get angry after a little loss, I have seen more topic talking about preferring trade and investing over family and free time although it doesn’t work that way rather loss is unpredictable. Financial ability is also another factor traders should consider if they want to maintain a healthy and standard mindset.
hero member
Activity: 3220
Merit: 678
www.Crypto.Games: Multiple coins, multiple games
Trading has been known to be a path to financial freedom and it’s not that easy to achieve that without having to pass some series of tests in trading. Losses are part of the game and they happen to make you to become better for the future, because when the wins begin to come, they’re likely not going to cease and you may only experience little losses and lesser losses as compared to the time you were still learning to trade.

Trading can be time consuming but it is important to find time for everything and don’t allow trading to take the whole part of your life, you also need to rest and strategize better on what you’ve learned in the market, so having some breaks to cool off is great for your brain. Greed is a part and parcel of every human being and that will immediately set in when you begin to win more trades, you should be able to control it to avoid losing more than you can afford to lose.
Losses are actually the best lessons, because you look back, and see why you lost, if you can't figure out why that was a wrong decision then you didn't study enough to be a good trader, if you CAN look back and see what went wrong and what was your mistake, that means you learned trading good enough to see your mistake, and that's experience for you and you would avoid doing that again.

This is how become a good trader, first they learn, and be good enough to look at a mistake and acknowledge and recognize it, and then they gain experience by actually trading nad learning from their mistakes. When you do these two things, you gradually become better and better, the trading results will show itself and how good it gets.
hero member
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You need to manage between your time to trade and other activities and don't spend all day long to trade. You need to take a break for a while to refresh your mind and enjoy your time to do other things. You can stay in front of your devices but that can affect to your eyes so that is why you need to take a rest for a while. If you have family, you need to spend your time with them and have fun by doing other activities so your life will be balance.

Take a break will help you to calm down your mind when you lose in trading so you can back to market with a fresh mind. If you can manages your time properly, you will have a fresh mind and can analyze the market better.
hero member
Activity: 2856
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There are a lot of ways actually, but it can be real challenging for traders to trade within their sanity since the market itself and the trading outcomes are always unpredictable. Even those who are successful traders, maintaining their sanity means a lot of hardwork and effort.

Let’s just put it this way, if you are struggling to become completely sane, then don’t enter trading. Trading is never a do or die, you have all the options to make money even without trading. Just buy and hold bitcoin instead, you can still be in profits if you are here for long term, even without being active in trading.
legendary
Activity: 2814
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Traders who can't stop trading may be addicted.
Addiction can not only occur in gambling or drugs, but anything or activity that is considered fun but cannot be stopped because of one's own will.
Traders who can't take a break will damage their mentality because humans need rest and lack of rest will damage health, but it cannot be denied that when you are feeling excited about trading, there is a feeling of regret to stop it, which must have been experienced by all traders, but if you want to survive long in trading then taking a break is very important.
hero member
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Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
Taking breaks is particularly harder for those who are very used to trading with their mobile phones, because at every opportunity they have to press their phones they are always searching and looking at the market for opportunities to trade.

Taking breaks should also involve keeping your phone down and staying away from social media as well as other things online for a short time.
definitely, for people who just can't help but always find any opportunity to find a good trade, it's kinda hard to take break, even at holiday we're gonna be thinking about trading 24/7

I think trader need to accept the fact that once we become a trader and delved enough to the market we gonna be fixated to the market 24/7 unless we withdrawn our money from our account to bank only then we're not gonna be spending time monitoring the market because we got no money on the account in the first place Grin.
legendary
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A wall of text again. Lemme simplify it for you so that readers will want to read it even more.

You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person.
I'm trying this already. I already set to myself that I will only trade for at least 4 hours. Now if I didn't saw an opportunity for those 4 hours, I will try to look for an entry position if I can find anything. After those 4 hours, I will look at the markets and will focus on higher time frame so that I will not look at the charts from time to time. It worked for me since the higher the time frame, the stronger the confirmations as well coming from different indicators.
The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade.
I've been liquidated several times already and whenever I experienced that, I feel disappointed on myself because I let it happen. Well, I'm disappointed for a few hours, but after that, I'm back to normal self again, but I will skip trading for the next days to weeks after that. Like what you said, I treat losses as an opportunity to learn, because for me, I'll be a forever student when it comes to trading. I'll learn every single day as long as I'm trading.
Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
I guess this is the best advice. Don't take all of your time in a day watching those charts. We only have 24 hours in a single day. Let's manage it properly. If we need to step out of our computer to spend our time with our family, do it. If we need to skip trading for 2-3 days for a more important reason, do it. Opportunities will always be there especially in crypto where there's a lot of opportunities as long as you're skillful enough to get those.
legendary
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Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
Taking breaks is particularly harder for those who are very used to trading with their mobile phones, because at every opportunity they have to press their phones they are always searching and looking at the market for opportunities to trade.

Taking breaks should also involve keeping your phone down and staying away from social media as well as other things online for a short time.
hero member
Activity: 3052
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In short, trade with self-control and discipline. Long hours with trading cannot guarantee success, but it even makes you prone to more mistakes and possible losses. And based on my research, there’s this 90% rule in trading, 90% of novice or less experienced traders will experience inevitable losses during their first 90 days in trading, so it means that 90% of their capital as well will be considered as losses. So it’s only a waste of time if you keep trading without setting time limits, because there will always be losses most especially if you are still an inexperienced trader.
hero member
Activity: 2688
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With trading bots and automation there is no reason to stay in front of the screens all the time but trading should not be a full time job or something that might affect your near future as the possibility of making losses in the short term is high and profit in trading comes from buying at a cheap price and this requires patience and waiting to sell at a suitable price so the best advice is to ignore trading, not set a short time limit and keep learning.
There is nothing wrong if we can treat it like a full-time job but as long as we can profit on them per day and that profit is equivalent to most standard jobs or better if higher than it. It does not matter if you buy at cheap or at dips but what important is that you can sell them above your buying price. There are volatile and highly volatile coins so a trader can do their operations quickly. I'm sorry but the advice you throw there is bad but it can be done if we just suck at it no matter what we do. You once said that trading requires patience but why say not set a short time limit on it? Though that is right that we must keep on learning even if we are already good at it.
sr. member
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The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.

Trading has been known to be a path to financial freedom and it’s not that easy to achieve that without having to pass some series of tests in trading. Losses are part of the game and they happen to make you to become better for the future, because when the wins begin to come, they’re likely not going to cease and you may only experience little losses and lesser losses as compared to the time you were still learning to trade.

Trading can be time consuming but it is important to find time for everything and don’t allow trading to take the whole part of your life, you also need to rest and strategize better on what you’ve learned in the market, so having some breaks to cool off is great for your brain. Greed is a part and parcel of every human being and that will immediately set in when you begin to win more trades, you should be able to control it to avoid losing more than you can afford to lose.
legendary
Activity: 3780
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www.Crypto.Games: Multiple coins, multiple games
Taking healthy breaks is my way of doing it. Sometimes I take a break because I have been trading for months and I feel terrible about it, and sometimes during my breaks I feel bad and I start back and feel better again.

So taking breaks helps you a lot, when you are trading breaks help you feel better to relax and not trade and feel better while not trading, but if the break takes months, then this time you start to feel better when you restart so trading makes you feel better. This way, it's a vicious cycle of trading and breaking from trading, and you keep the fun going for a long time. Remember, this isn't a relationship, trading doesn't break up with you, you break up with it, so you can take a break as much as you want.
legendary
Activity: 2758
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With trading bots and automation there is no reason to stay in front of the screens all the time but trading should not be a full time job or something that might affect your near future as the possibility of making losses in the short term is high and profit in trading comes from buying at a cheap price and this requires patience and waiting to sell at a suitable price so the best advice is to ignore trading, not set a short time limit and keep learning.
sr. member
Activity: 854
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Health is wealth so its not advisable to do it like 24/7 monitoring just to not let the market caught you up. Honestly its not really needed to be on the alert there are tools on some cex to use like stop loss, take profit button, trailing stop and any other types of helpful feature to automate a potential move on your trade. Dont be a traditional one that will face PC 24/7 and degrade your mental mind.

It's called trading and not imprisonment but unfortunately, majority of traders are not in anyway different from prisoners who have limited for themselves and other things but always indoor. A trader ought to have a designated time for his trading activities and not trading throughout all day without reserving time for family and friends and most importantly, for himself. The easiest way for trading to have mental effect on a trader is when you devote too much time for it. You need at least a time to learn more about what you're doing so you can add to your already gotten skills and experience to minimise your loss. Despite the features mentioned above, you deserve a time to be completely off from trading and free your mind from that tension once in a while.
legendary
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Health is wealth so its not advisable to do it like 24/7 monitoring just to not let the market caught you up. Honestly its not really needed to be on the alert there are tools on some cex to use like stop loss, take profit button, trailing stop and any other types of helpful feature to automate a potential move on your trade. Dont be a traditional one that will face PC 24/7 and degrade your mental mind.
jr. member
Activity: 187
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Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person. The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
I totally agree that what you mentioned is usually called over trade

Anything excessive is definitely not good, especially if it is related to trading, because every trade has its risks,

The more often you open a position, the more risks you have to bear,

If all your losses and analysis are not in accordance with the market, it can result in a big loss and can even wipe out all your profits and even your capital

Therefore, I myself only trade if all my algorithms really say yes to all of them and usually not every day but can be once a week or twice a week, besides that we need to apply good money management too, so that when we lose and experience losses it does not erase the profits that I already had before
legendary
Activity: 3346
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Leading Crypto Sports Betting & Casino Platform
Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person. The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
the problem is by trading on limited hour, you'd miss an opportunity on the process, because the nature of crypto market is open 24/7 you won't know when there will be opportunity like sudden flash dump where you can easily profit off, the best way instead of limiting your trading hour is to set alarm, and trade based on technical analysis, this way you won't be getting fixated 24/7, only when opportunity arises you'd open your account and start trading.

other thing is also stop being a degen where we over leverage without TP/SL, otherwise if you do this you'd find yourself monitoring the market 24/7 afraid of getting liquidated of your whole trading account.
legendary
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Sometimes it is better to not trade at all. Why do you force yourself to trade? By putting trade hours, you are basically saying I will make trade during these hours no matter what the market conditions are. That’s a very bad strategy. You do trades only when it is profitable make them trades. It doesn’t matter when you make them trades. It could be 3 A.M. or 5 P.M. , it doesn’t make a difference. If you say I’ll only make trades on Sundays or at night between 10 P.M. and 12 P.M. , what makes you think you’ll catch them profitable trades in these hours?
sr. member
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Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person.

Trading can train you to be the real person you supposed to brand not only that, it makes people value their time, resources as well as taking what they are doing more serious because it deals with money and they can't afford to always be on a loss while trading, getting it right is not by how frequent or less frequent you appear on some of these centralized exchanges trading, the rules and discipline we can set could go more far in getting up to our expectations whenever we trade.

The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.

Don't trade all because you wanted to recover from the loss already made, trade as if it's also part of your daily activities and with the understanding that it makes you get up to or close to your targets when you're trading in a more professional manner, make use of your desired trading pattern and avoid overconfidence while trading.
sr. member
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To be honest a trader doesn't need to work 24/7 but they can still trade the 24/7 market window just by automating things using bots. Trading bot is nothing but automation of your trades using predefined inputs such as strategy, it just works all the time even when you are sleep or away. When you are not spending much time looking at the screen itself enough to have a relaxed feel which is what you call as sane.

Backtest your strategies and finetune your bot before entering the real ground to avoid any wrong doings, by doing this you can take advantage of market and all the trade actions will be instant that not possible with any human so you get to work on your trades by analyzing the market and whatever you do and let the bot handle the trading job for you.
hero member
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Is very important to schedule time for everything and for you to trade effectively, you should be in your best state of mind not be overwhelmed by the market and always trade with a strategy.

Many times we tend to be carried with market volatility to the point that we may overwork ourselves while trading which is not good for our mental health so having a limit will help us to trade within a specific guide.
hero member
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Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person. The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
Or simply you do talk about not to overtrade and this is something that you should really be putting up into your mind on which you shouldnt really be that trying out to chase the market and just like you've said that the market is open 24/7 and it will be that up to you on how you would be able to get in and when it comes to set ups, then you will definitely making up anytime because there would really be tons of set ups that you can make out into the market on which it will be that basing on different situations or conditions. Everything should really be that balanced because on the moment or time that you do over trade and becomes desperate then you would really be facing up some issues in correlated into this aspect.It will really be that up to you on how you would gonna handle yourself into such moment or condition.

When you are still newbie then it is really that hard to make up such behavior because at the time that you will be able to make profits with your first trades, then this is where you do have this kind of perseverance and desperation that you will be liking to have tons of trades because you do make up some money earlier. You will be having that some sort of out of control kind of behavior and pretty sure that most of us did really comes into this kind of situation too on which we had become that too desperate on making money. People wont be able to realize things not until into the time or moment they experience issues.
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Trading can be very risky and could cause serious mental issues if done wrongly. You need to be careful during this activity. I have some advice for traders out there to keep you completely sane while trading you crypto, You need to set trading hours for you self. This exchanges are open for traders 24/7, this doesn't mean you should trade 24/7, you need to have some time for yourself, you need to have dinner, spend time with your kids and family and live life like a normal person. The next is management of fear and greed. Losing is part of of the game, so don't let your losses damage you emotionally, Don’t let it be a trigger for anger.Treat losses as an opportunity to learn. and don't let greed push you to staking more than you can afford to lose, instead place your focus and attention on the framework and the logic of the trade. Lastly take breaks, leave your laptop for a while, step out and laugh a bit.
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