HOW TO IMPROVE PSYCHOLOGY IN TRADING

[UNIVERSE]

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.

No doubt, dude. When a city is about to dive into something new, one thing is very important, namely the knowledge it has. Without that, it will be as if the city just entered haphazardly, without any preparation. And the effect,,? will be very complex.

Not only do they lack knowledge and experience, but also because of their ignorance, it can more easily create panic, FOMO, greed, and various other emotional traits which can actually be dangerous.

This will definitely be quite different when we are scientifically prepared, at least we will be more aware and ready for all the risks. So we will understand better what to do.

[TopT3ns]

No doubt, dude. When a city is about to dive into something new, one thing is very important, namely the knowledge it has. Without that, it will be as if the city just entered haphazardly, without any preparation. And the effect,,? will be very complex.

Not only do they lack knowledge and experience, but also because of their ignorance, it can more easily create panic, FOMO, greed, and various other emotional traits which can actually be dangerous.

This will definitely be quite different when we are scientifically prepared, at least we will be more aware and ready for all the risks. So we will understand better what to do.

This is a very good analogy, and hopefully it can be understood well because it is true, as has been said, that everything requires a process to achieve certain goals, such as wanting to become a professional trader, so they will try various trading methods until they have a lot of experience and find one that meets their expectations.

[I-Bit]

This is a very good analogy, and hopefully it can be understood well because it is true, as has been said, that everything requires a process to achieve certain goals, such as wanting to become a professional trader, so they will try various trading methods until they have a lot of experience and find one that meets their expectations.

Correct. There is no instant success, everything requires a process.
When people want to be professional traders, they must deal with obstacles such as losses money or other bad experiences. There is no way to be a professional trader suddenly, it must have a certain process. I agree that people can be professional after they tried various strategies in trading.

[DAMKAR]

This is a very good analogy, and hopefully it can be understood well because it is true, as has been said, that everything requires a process to achieve certain goals, such as wanting to become a professional trader, so they will try various trading methods until they have a lot of experience and find one that meets their expectations.

Correct. There is no instant success, everything requires a process.
When people want to be professional traders, they must deal with obstacles such as losses money or other bad experiences. There is no way to be a professional trader suddenly, it must have a certain process. I agree that people can be professional after they tried various strategies in trading.

Becoming a professional trader takes a long time. We must have experience, knowledge and skills in the world of trading. I played there for a long time, but I was not a professional. only do medium term trading and not daily trading.

[milewilda]

1.Cut Losses Immediately When Realizing a Mistake

This is something i could say that it is really that effective. Why? You would really be able to realize that you are really that having mistake.
This would really be causing up for you to have that kind of saving up a huge chunk of your capital on which this is much preferable.
There's no way that we could really be able to avoid such condition yet market prices is always been random and unpredictable.

It you wont really be that mindful about into those wise decisions you would be making then you are really that prone into tons of errors
on which this is something that you should be lessening.

[MRY]

1.Cut Losses Immediately When Realizing a Mistake

This is something i could say that it is really that effective. Why? You would really be able to realize that you are really that having mistake.
This would really be causing up for you to have that kind of saving up a huge chunk of your capital on which this is much preferable.
There's no way that we could really be able to avoid such condition yet market prices is always been random and unpredictable.

It you wont really be that mindful about into those wise decisions you would be making then you are really that prone into tons of errors
on which this is something that you should be lessening.

Exactly, in this way losses can be handled well, but before deciding to make a cuttloss, you should consider it more deeply so that in the future you don't regret it, for traditional trading and trading in coins such as Bitcoin, Ethereum and others that have high popularity, cuttloss is not needs to be done, but for future trading this feature is very important to avoid liquidation which will make the balance run out instantly.

[doc]

Exactly, in this way losses can be handled well, but before deciding to make a cuttloss, you should consider it more deeply so that in the future you don't regret it, for traditional trading and trading in coins such as Bitcoin, Ethereum and others that have high popularity, cuttloss is not needs to be done, but for future trading this feature is very important to avoid liquidation which will make the balance run out instantly.

Agree with your opinion if we invest in very popular coins like bitcoin and ethereum we don't need to cut losses. Because it will rise again, all you have to do is hold and wait. of course it requires free money.

[Uruhara]

Exactly, in this way losses can be handled well, but before deciding to make a cuttloss, you should consider it more deeply so that in the future you don't regret it, for traditional trading and trading in coins such as Bitcoin, Ethereum and others that have high popularity, cuttloss is not needs to be done, but for future trading this feature is very important to avoid liquidation which will make the balance run out instantly.

Agree with your opinion if we invest in very popular coins like bitcoin and ethereum we don't need to cut losses. Because it will rise again, all you have to do is hold and wait. of course it requires free money.

Well, I also agree that cutting losses are very necessary, especially for those who trade daily. Be it on the spot market or on the futures market. And in the futures market, a special feature is usually provided to cut losses, namely Stop Loss. Meanwhile in Spot it seems like it has to be done manually. For BTC and ETH on the spot market, I personally prefer not to cut losses if they go down. Because we know both always have their returns.

[DAMKAR]

Well, I also agree that cutting losses are very necessary, especially for those who trade daily. Be it on the spot market or on the futures market. And in the futures market, a special feature is usually provided to cut losses, namely Stop Loss. Meanwhile in Spot it seems like it has to be done manually. For BTC and ETH on the spot market, I personally prefer not to cut losses if they go down. Because we know both always have their returns.

I will cut loss if I choose altcoins that are not in the safe coin category such as Ethereum BNB and Solana. because based on my analysis, the price will dive sharply towards the bottom, I should cut loss.

[Mr. Allcrypto]

Table of Contents
1 Create a Trading Plan.
2 Take Regular Breaks.
3 Don't Quit Your Day Job.
4 Accept That You Will Lose.
5 Practice, Practice, Practice.
6 Use a Take Profit and a Stop Loss.
7 Backtest Your Trading Strategy.
 
Trading is 90% PSYCHOLOGY and 10% wating.

That's right, doing so would mean that we can't incur too many losses

I agree with you in these your points listed, most especially the number 5, always practice. Even experienced traders too do incure losses in trading, but they are able to minimize it because of their use of good trading facilities and equipments and Also continues practicing...

[DragonF]

Table of Contents
1 Create a Trading Plan.
2 Take Regular Breaks.
3 Don't Quit Your Day Job.
4 Accept That You Will Lose.
5 Practice, Practice, Practice.
6 Use a Take Profit and a Stop Loss.
7 Backtest Your Trading Strategy.
 
Trading is 90% PSYCHOLOGY and 10% wating.

That's right, doing so would mean that we can't incur too many losses

I agree with you in these your points listed, most especially the number 5, always practice. Even experienced traders too do incure losses in trading, but they are able to minimize it because of their use of good trading facilities and equipments and Also continues practicing...

True. No one can rule out the role of practice in human activity. No wonder it has been said that practice makes perfect. This becomes important for every trader even experienced traders as you have noted. When a trader stops practicing it becomes difficult for the trader to improve in his trading. Transitioning from being an amateur to a professional involves honing your abilities over time and gaining a deep understanding of the intricacies of the financial markets. The more time spent actively trading and analyzing market movements, the better equipped a trader becomes at identifying patterns, trends, and opportunities. Through practice, traders learn to manage risk effectively, develop strategies that work for them, and adapt to changing market conditions.

[TopT3ns]

I agree with you in these your points listed, most especially the number 5, always practice. Even experienced traders too do incure losses in trading, but they are able to minimize it because of their use of good trading facilities and equipments and Also continues practicing...

Cryptocurrency price movements are actually very difficult to predict, but when we look at the history of cryptocurrency prices and the news circulating in several media, we will know where coin price movements occur. Even though it is not accurate, at least the results are close enough, which is quite good.

[therozaq]

I agree with you in these your points listed, most especially the number 5, always practice. Even experienced traders too do incure losses in trading, but they are able to minimize it because of their use of good trading facilities and equipments and Also continues practicing...

Cryptocurrency price movements are actually very difficult to predict, but when we look at the history of cryptocurrency prices and the news circulating in several media, we will know where coin price movements occur. Even though it is not accurate, at least the results are close enough, which is quite good.

Actually, if you make an analysis by looking at the history of crypto currency, it is more suitable for holding. but for short-term trading we need another method for making analysis. By studying crypto, and gaining experience and knowledge we can improve our psychology, manage emotions.

[$crypto$]

Well, I also agree that cutting losses are very necessary, especially for those who trade daily. Be it on the spot market or on the futures market. And in the futures market, a special feature is usually provided to cut losses, namely Stop Loss. Meanwhile in Spot it seems like it has to be done manually. For BTC and ETH on the spot market, I personally prefer not to cut losses if they go down. Because we know both always have their returns.

I will cut loss if I choose altcoins that are not in the safe coin category such as Ethereum BNB and Solana. because based on my analysis, the price will dive sharply towards the bottom, I should cut loss.

I rarely make cut losses on the spot market, because I also invest more in coins that already have very high confidence, so when the price reverses I just have to wait to see an increase.

This is different when trading futures, we almost always have to set a stop loss, because every movement will lead us to a loss. And if we are wrong in our predictions and don't set a stop loss, then we will most likely lose all our money.