HOW TO IMPROVE PSYCHOLOGY IN TRADING

[EthereumDev_]

yes is very vital to have good emotions management, because we can't manage to our emotions it might just open a gate way to more losses. That why trading  not so something you can just jump in without thinking which is wrong.

Trading must be full of consideration and of course you have to use a cool head because if you trade using emotions you will have the potential to take the wrong steps. At least you have to look deeper into the total supply of the coin to the product being developed, so that when both are good then will provide good potential for the long term.

[Gideon99]

Here are 5 principles to help improve your psychology when trading:

1.Cut Losses Immediately When Realizing a Mistake

*For example, if you realize you've placed the wrong buy/sell order, incorrect volume, or deviated from your trading criteria, cut losses immediately. Recognizing and rectifying mistakes promptly demonstrates maturity.

2.Don't Overcrowd a Single Position with More Than 3 Trades

*Most account blowouts in trading occur due to overcrowding positions, especially with high leverage, and going against the trend during strong momentum. This can lead to account depletion.
*Overtrading often involves emotional decision-making, making it subjective. Without a clear plan for overtrading, it can become akin to emotional gambling, leading to difficulty in cutting large losses.

3.Don't Trade More Than 3 Pairs in One Day (Preferably Focus on One You Understand and Have Experience With)

*Successful traders often specialize in a specific coin or token, mastering its price movements. They consider it a gold mine. Trading fewer pairs helps develop an intuitive sense for the market, reducing the need for extensive analysis.
*Trading less frequently but focusing on quality trades often improves profits and minimizes losses in markets where you're not an expert. Even if you have a trading system, applying it to different assets can lead to different outcomes.

4.Reduce Trading Volume as Losses Increase, Balance Emotions, and Stabilize Your Mindset

*When losses exceed 3% of your account (or a predetermined threshold based on your account size), or if you lose 2 trades in a day, it's advised to stop trading temporarily. Use this break to review your losses, identify where you went wrong, and analyze how to improve.
*When you can't maintain a calm mindset and are driven by emotions, seeking revenge on the market is counterproductive. Getting emotional with the market leads to trouble.

5.Take Profits and Know When to Stop

*Taking profits is the most crucial skill for earning a living through trading. Profits should never be ignored.
*Stick to your own trading system when taking profits. Divide your profits into multiple tiers, avoid the regret of missing out. Remember that money is still there, the market remains, and opportunities are abundant.
*Always appreciate yourself for knowing when to take profits.

When it comes to trading is all about discipline approach and learning to country emotions. There are few tip to improve trading psychology.                               
 - Learn from your mistake                       
 -Keep trading plan and stick on it.                               
   -avoid overreacting to market volatility.                     
       -trade with money you can afford to lose   
increase your chances of success and improve your trading psychology.

[Gladitorcomeback]

When it comes to trading is all about discipline approach and learning to country emotions. There are few tip to improve trading psychology.                               
 - Learn from your mistake                       
 -Keep trading plan and stick on it.                               
   -avoid overreacting to market volatility.                     
       -trade with money you can afford to lose   
increase your chances of success and improve your trading psychology.

I agree with all your points except for the first one because one doesn't only need to learn from their mistakes but they should learn from the mistakes of others as well, and for that, they will need to observe the market, look for information everywhere, stay connected with communities and fellow traders so that they can get useful insights and things that they should and shouldn't do as a trader. That is how one can grow in the market.

So once a person has got enough knowledge about the market, they should start doing these things to become a successful trader eventually.

[Captain Corporate]

One way could be seeking professional help? I do, once every two weeks, not for trading obviously but for some other stuff and it does help a persons psychology a lot. If you feel like you have some emotional issues that chains you from becoming a better trader, asking a doctor would help. Another would be experience, because someone making their 50th trade, will never be as calm as someone who makes their 50k trade, those are just not the same. So all in all I believe that things may not look the same, it would definitely have some different situation going on. This should mean a lot for everyone.

[DragonF]

a very good topic for all members and for beginner traders, because we have to have a lot of knowledge in trading, this is capital for trading, not only money capital but knowledge capital or information in trading is also important because if we don't have knowledge, then you will failed in all of this. I think knowledge and experience are number 1 compared to capital.

Trading  needs experience, skill and knowledge, So we  have to find all information in all forum and learn every time. Psychology in trading is important. How to manage fear and greed.It needs a long time to be a professional trader. Time will tell how about us in trading.

Obviously, becoming a professional trader takes time and experience. I advocate that trading should be approached as a learning journey and a trader especially a newbie has to be patient with himself because building expertise in trading requires practice, discipline, and a willingness to learn from both successes and failures of yourself and from others.

[Uruhara]

One way could be seeking professional help? I do, once every two weeks, not for trading obviously but for some other stuff and it does help a persons psychology a lot. If you feel like you have some emotional issues that chains you from becoming a better trader, asking a doctor would help. Another would be experience, because someone making their 50th trade, will never be as calm as someone who makes their 50k trade, those are just not the same. So all in all I believe that things may not look the same, it would definitely have some different situation going on. This should mean a lot for everyone.

In this case, I always ask for the opinion of my friend who has been in the crypto industry for longer and is also a reliable trader because in fact he makes trading his livelihood. And I learned quite a lot from him regarding how to control my emotions in trading. And he always explains that experience is needed and as experience increases, the mentality a trader has in the market will become stronger. In theory it looks easy but in practice it is not easy at all. asking for professional help may be more helpful.

[Altcoin1998$]

In the case of trading, basically a trader has to be very good mentally, otherwise, in an important field like trading, if he breaks down mentally, there is a high possibility of facing losses instead of profits. A trader must have the ability to control feelings and emotions.  He should refrain from excessive emotions of trading multiple times in a day.  A trader should never trade more than the number of trades he or she places in a day. He must deal with excess greed if extra profit comes in trading, otherwise he must face loss later.

[milewilda]

In the case of trading, basically a trader has to be very good mentally, otherwise, in an important field like trading, if he breaks down mentally, there is a high possibility of facing losses instead of profits. A trader must have the ability to control feelings and emotions.  He should refrain from excessive emotions of trading multiple times in a day.  A trader should never trade more than the number of trades he or she places in a day. He must deal with excess greed if extra profit comes in trading, otherwise he must face loss later.

For sure on the time that you do start up then you would really be coming into a point on which you do experience this kind of breakdown or having those kind of impulsive actions due to
those extreme psychologic issues on which it is something inevitable specially if you are someone who dont have experience and having no knowledge then  you would
really be having those kind of reactions on which this would really be just that normal. How to improve? On the time that you would be able to experience out
those things then you would be having that kind of learning along the way on which its a normal approach.

[DAMKAR]

yes is very vital to have good emotions management, because we can't manage to our emotions it might just open a gate way to more losses. That why trading  not so something you can just jump in without thinking which is wrong.

Trading must be full of consideration and of course you have to use a cool head because if you trade using emotions you will have the potential to take the wrong steps. At least you have to look deeper into the total supply of the coin to the product being developed, so that when both are good then will provide good potential for the long term.

Greed is an emotion that will always be a ghost and attack traders. People always say don't be greedy, but when they see market movements and graphs that are quite fantastic they will leave the planned target and try to raise it to a higher one, and suddenly there is a dump. It takes a long time to manage emotions.

[LUCKMCFLY]

In the Spanish section of the forum there was a lot of speculation about this, and basically I have understood something, that the psychology of trading, at least for me, does not exist and the reason is simple, psychology is piciology, there is not just psychology of trading and that was corroborated by a psychologist, the only thing is that since tading is so fashionable, there are many business models that talk about the psychology of trading and everything, but it is known that psychology is for everything, it does not cover trading , it is in general terms, everything depends on how we focus, for that reason we are always going to move things due to our way of thinking, our intelligence, emotions and above all our own psychology, there is a lot of talk about psychology of tradin so it is booming, but it is only because of that.

Of course, I have seen many points of view that are totally respectable and it is something that serves to enrich us, everything is valid, in conclusion every advice that is given due to psychology, trading or whatever helps a lot to overcome the storms of the market and know how to operate so as not to earn so much money, or lose so much money.

[Jamal Aezaz]

Trading  needs experience, skill and knowledge, So we  have to find all information in all forum and learn every time. Psychology in trading is important. How to manage fear and greed.It needs a long time to be a professional trader. Time will tell how about us in trading.

Trading requires knowledge and experience both but knowledge is needed prior to enter the trading market and experience you are getting as a Newbies. There are lots of information available regarding trading so one can easily get it but the accuracy of your knowledge will only be determined by the number of win and loss you face during trading.

Fear and greed should be manage but the foremost important thing is having patience and don't think with emotions until you know everything about previous mistake. Learn from your mistakes and keep going according to your own research no matter how long you take time to search out but don't follow others as some of them will share wrong information with you.

[Gideon99]

Here are 5 principles to help improve your psychology when trading:

1.Cut Losses Immediately When Realizing a Mistake

*For example, if you realize you've placed the wrong buy/sell order, incorrect volume, or deviated from your trading criteria, cut losses immediately. Recognizing and rectifying mistakes promptly demonstrates maturity.

2.Don't Overcrowd a Single Position with More Than 3 Trades

*Most account blowouts in trading occur due to overcrowding positions, especially with high leverage, and going against the trend during strong momentum. This can lead to account depletion.
*Overtrading often involves emotional decision-making, making it subjective. Without a clear plan for overtrading, it can become akin to emotional gambling, leading to difficulty in cutting large losses.

3.Don't Trade More Than 3 Pairs in One Day (Preferably Focus on One You Understand and Have Experience With)

*Successful traders often specialize in a specific coin or token, mastering its price movements. They consider it a gold mine. Trading fewer pairs helps develop an intuitive sense for the market, reducing the need for extensive analysis.
*Trading less frequently but focusing on quality trades often improves profits and minimizes losses in markets where you're not an expert. Even if you have a trading system, applying it to different assets can lead to different outcomes.

4.Reduce Trading Volume as Losses Increase, Balance Emotions, and Stabilize Your Mindset

*When losses exceed 3% of your account (or a predetermined threshold based on your account size), or if you lose 2 trades in a day, it's advised to stop trading temporarily. Use this break to review your losses, identify where you went wrong, and analyze how to improve.
*When you can't maintain a calm mindset and are driven by emotions, seeking revenge on the market is counterproductive. Getting emotional with the market leads to trouble.

5.Take Profits and Know When to Stop

*Taking profits is the most crucial skill for earning a living through trading. Profits should never be ignored.
*Stick to your own trading system when taking profits. Divide your profits into multiple tiers, avoid the regret of missing out. Remember that money is still there, the market remains, and opportunities are abundant.
*Always appreciate yourself for knowing when to take profits.

There are various method to improve psychology in trading: develop a trade plan and stick to it. It will help you to take rational decisions base on your research to fluctuating market. *Stay informed about the news and trends but get hype or FOMO

[doc]

There are various method to improve psychology in trading: develop a trade plan and stick to it. It will help you to take rational decisions base on your research to fluctuating market. *Stay informed about the news and trends but get hype or FOMO

A good opinion so that we still have a plan when trading and think rationally to set targets. Trading is not my expertise, I only understand a little about technical and fundamental analysis.
and I always read the news to keep up with FOMO, short-term investments.

[IvugeoEvolutionCoin]

A good opinion so that we still have a plan when trading and think rationally to set targets. Trading is not my expertise, I only understand a little about technical and fundamental analysis.
and I always read the news to keep up with FOMO, short-term investments.

Not only think rationally but you have to think clearly and use appropriate logic because so far what I have observed in exchanges is all full of logic because cryptocurrency price movements depend on news, some of which are in the international media which discuss digital currencies.

[DAMKAR]

A good opinion so that we still have a plan when trading and think rationally to set targets. Trading is not my expertise, I only understand a little about technical and fundamental analysis.
and I always read the news to keep up with FOMO, short-term investments.

Not only think rationally but you have to think clearly and use appropriate logic because so far what I have observed in exchanges is all full of logic because cryptocurrency price movements depend on news, some of which are in the international media which discuss digital currencies.

A clear mind is needed in making analysis, so that it can be more accurate. although sometimes bad emotions become obstacles, such as greed and fear. Because it is not easy to control it all, perhaps sufficient experience and knowledge can make more accurate predictions.