HOW TO IMPROVE PSYCHOLOGY IN TRADING

[Pitter]

The summarization of improving trade psychology helps people inspire to invest in crypto currency and speacily to trade happily.Everyone should renew their trading psychology and always gain their knowledge by trading though something earn or something lose.One common rule i always apply and I think everyone should follow that is always invest a amount that ,when if you lose you afford that .Focus the correct one and learn deeply about that crypto and make a road map with great plan then confidently go forward.I think these initiatives help confidently to trade.

[Dr.Bitcoin_Strange]

Well, these five points are actually good guidance for trading. If a trader, whether a newbie or an experienced trader, follows these steps, they will not constantly experience heavy losses that can result in blowing their account. For a long time now, I have not been trading. Although my pattern of trading is mostly buying altcoins at a low price and selling if the price goes up a bit, I have not been trading features and derivatives because of the high risk, but that doesn't mean I have not traded features before.

As a matter of fact, just two days ago, I decided to test my trading skills again using my favorite exchange for futures trading, which is Digifinex.

I discovered they now have a new feature, which is a demo practice account, so I decided to practice there for a while with a demo balance of $1000. I placed about 5 trades (positions) and increased the demo balance to $1,567, but I got greedy. I should have just stopped trading that day and continued the next day, but instead I continued until I lost all the balance again. 

Conclusion and a little advice: if you have actually made enough profit for the day, kindly log off and close trade for that day. Also, don't get greedy; no profit is too small. $100-$500 profit is really a good amount of earnings for a day.

[yhiaali3]

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.

Tip No. 5 is my favorite. Yes, making profits is the main point in trading. When you achieve an acceptable profit at a certain point that you specify, it is better to take your profits immediately and not be greedy.

Sometimes profit can turn into loss due to greed and not reaping profits in a timely manner. Many traders, when they see the market rising, do not reap their profits and wait to get more, but suddenly the market turns and they lose because they do not reap their profits in a timely manner.

[bayu7adi]

Tip No. 5 is my favorite. Yes, making profits is the main point in trading. When you achieve an acceptable profit at a certain point that you specify, it is better to take your profits immediately and not be greedy.

Sometimes profit can turn into loss due to greed and not reaping profits in a timely manner. Many traders, when they see the market rising, do not reap their profits and wait to get more, but suddenly the market turns and they lose because they do not reap their profits in a timely manner.

And conversely, sometimes a loss can become a profit if someone is not in a hurry to respond to FUD news. The opportunity to get a bounce position is always there, and I think a lot of people lose out on bad news or FUD.

It's as if investors don't want to miss the moment to sell at a better price. In fact, this decision makes them lose money because the price bounced a few moments before and never reached its lowest level again. Carrying out buybacks also becomes hampered.

[yhiaali3]

And conversely, sometimes a loss can become a profit if someone is not in a hurry to respond to FUD news. The opportunity to get a bounce position is always there, and I think a lot of people lose out on bad news or FUD.

It's as if investors don't want to miss the moment to sell at a better price. In fact, this decision makes them lose money because the price bounced a few moments before and never reached its lowest level again. Carrying out buybacks also becomes hampered.

What you say is true, but this happens with strong, reliable coins that you know that holding out can restore your position and turn the loss into profit, but this does not work with Shitcoins or new coins because holding out in your position may lead to more losses.

These things require experience and knowledge, so I always advise beginners to take profits immediately to avoid falling into the complexities of the situation.

[$crypto$]

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.

Tip No. 5 is my favorite. Yes, making profits is the main point in trading. When you achieve an acceptable profit at a certain point that you specify, it is better to take your profits immediately and not be greedy.

Sometimes profit can turn into loss due to greed and not reaping profits in a timely manner. Many traders, when they see the market rising, do not reap their profits and wait to get more, but suddenly the market turns and they lose because they do not reap their profits in a timely manner.

Profit is the main target whenever we trade, that's indisputable. Yes, make sure we start with the target at the beginning, when our target has been reached then I strongly recommend to immediately stop and take profits, because not infrequently people who experience losses are those who have reached profits but they are too greedy and then the price turns into a loss.

Likewise, stopping when experiencing a loss, maybe if lucky enough can turn around to make us profitable, but we do this of course not based on luck but we must always minimize risk in accordance with our plans at the beginning.

[DAMKAR]

~snip~
 you know that holding out can restore your position and turn the loss into profit, but this does not work with Shitcoins or new coins because holding out in your position may lead to more losses.

These things require experience and knowledge, so I always advise beginners to take profits immediately to avoid falling into the complexities of the situation

Absolutely right, holding out can restore our position and turn the loss in to profit.
Keep calm and be patient when the coins drop.
It needs experience and knowledge.
But We must good skill to manage our emotions.
It's not easy, but we can do, if we have experience.
Crypto is unpredictable, So  we should have good analysis.

[sampoerna]

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.

And unfortunately, this is what sometimes makes our plans fall apart in the end, because this is related to our emotional management, especially related to our ability to stop the desire, the greediness, and also our ability to understand when to stop. Emotional management is very necessary at times like this, because we are the only ones who can control ourselves whether to continue or stop. If the conditions require us to stop and it is much better, then never mind, stop first. but if it can still be considered, then consider it carefully. Don't let us make the wrong decision and this will actually make us regret it. When we feel that the profits are sufficient, taking profits is the best way and we can start trading other pairs. From becoming greedy and actually losing that moment in the end.

[doc]

How to improve psychology in trading ? I think time will tell. Because it needs experience and along time to have skill to manage your emotions. Become a professional trader is not instant. We  will lose several time and also win or gain profit several time. From that experience we will improve our psychology, not only in trading but also in investing

[vegasus]

5.Take Profits and Know When to Stop

Tip No. 5 is my favorite. Yes, making profits is the main point in trading. When you achieve an acceptable profit at a certain point that you specify, it is better to take your profits immediately and not be greedy.

Taking profits is everyone expectation when trading. Trading is for taking profits. But you are right enough that whatever the condition, taking profits must be still controlled. We may sometimes be greedy, we may be sometimes very panic because of uncertain and unexpected market changes. that is why we often do panic sell or buy without any good analyses or consideration. Or even we are only trading with very high expectation so that we may be too greedy. hat is why, knowing when to stop is very important to manage our emotional in trading and avoid greedy act that may lead us to lose.

[TopT3ns]

How to improve psychology in trading ? I think time will tell. Because it needs experience and along time to have skill to manage your emotions. Become a professional trader is not instant. We  will lose several time and also win or gain profit several time. From that experience we will improve our psychology, not only in trading but also in investing

For new traders, it will be difficult to maintain emotional psychology when trading because learning to manage emotions such as fear and greed is important in preventing impulsive decisions. Understanding the risks involved and implementing effective risk management techniques, such as portfolio diversification and setting stop-losses, can help reduce psychological stress when trading.

[Geey]

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.

In the world of trading, everyone has a different way of trading, not everyone has the same way of trading. but we have to have a strategy when we should buy and sell it, that's all we have to know about the development of the coins we buy. Focusing on one coin is good, but if you have the ability to invest more than one coin that is very good, because we can earn many times what we invest. and it's also a good idea to manage your capital to invest in the short term and long term.

[famososMuertos]

He wants to learn correctly what works for him and what doesn't psychologically, since OP in a way mentions strategies, and gives the solutions that work for him.

For example, when I trade, is trade , trade, trade, consequently, regardless of the results, I stick to the plan of hours, profits or losses, whichever comes first.

That has a psychological nuance that suits the individual (me, in this case), that specific strategy, that may or may not work for you.

The psychological aspect as well as the strategies do not go together, ever.

That a strategy is effective does not imply that psychological aspects do not have a negative influence; it is a fallacy to think that happiness is a positive result, as product of profi.

The psychological aspect is trained, it is mastered regardless of the activity that is carried out.

[Hamza2424]

I'm curious if these words belong to OP, just asking haha because AI trend is one of the hot topics to create such threads, anyway if OP stands by these words and all of them are coming from his experience, it's appreciated if not this type of topics should be discouraged by posting neutral feedback. I haven't seen the active moderation of such topics which are suspicious of Ai and plagiarism.

[Uruhara]

What Op said on this topic really provides a big picture about controlling emotions or also improving our psychology which starts to go awry when trading. I also often do some of the steps in it. Although there are some things I don't do either. But I just want to add that experience is also the key to strengthening our psychology in trading. Because building a mentality in trading cannot only be obtained from theory and reading. But it must also be obtained from direct experience in the market which will make us much more familiar with the market itself and make us less likely to panic.

I'm curious if these words belong to OP, just asking haha because AI trend is one of the hot topics to create such threads, anyway if OP stands by these words and all of them are coming from his experience, it's appreciated if not this type of topics should be discouraged by posting neutral feedback. I haven't seen the active moderation of such topics which are suspicious of Ai and plagiarism.

I think if you just want to comment on the OP's writing style and whether his words were generated by AI or not then you shouldn't comment directly here. Because you are getting off topic. or you are free to have an opinion about the OP's writing, but still, if you don't want to get away from the topic being discussed, then start by also adding your response about the content of the topic itself and not just a response about how the OP produced the writing. If you have suspicions or something like that, take it to the reputation board and create a topic there about things you want to express regarding topics created by AI or something like that and attach the topic you mean. Honestly, I have read the contents of the topics created by Op and I am quite impressed with his knowledge. I don't care if it is by AI or Op's own making. But I look at the benefits of writing itself so that I can use the knowledge.