This psychology hack helped me become a profitable trader

[JoyMarsha]

Because of how trading is, many people don't like to depend on it without having any other thing doing to back it up because trading losses can make someone go bankrupt if they don't learn to detach themselves from having an emotional attachment to specific trades or outcomes.

Trading shouldn't be a full time job. It can only be a part-time job, to support one finances

[omori]

Because of how trading is, many people don't like to depend on it without having any other thing doing to back it up because trading losses can make someone go bankrupt if they don't learn to detach themselves from having an emotional attachment to specific trades or outcomes.

Trading shouldn't be a full time job. It can only be a part-time job, to support one finances

Some people prefer to go full-in into trading - we can't blame them. But if you do so - you should live by trading and be an expert.

[Mr. Magkaisa]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

       -      Well, what you said is right mate, because in this era, we humans need to be capable especially if you are a family man who is the only one your family expects from you. It is not easy to be the breadwinner or head of the family because you do not want your loved ones to go hungry.

Crypto trading is difficult to be your main source of income, although it can be done, but while you are doing it, you should also look for other ways to earn money besides crypto trading.

[dekafee79]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

       -      Well, what you said is right mate, because in this era, we humans need to be capable especially if you are a family man who is the only one your family expects from you. It is not easy to be the breadwinner or head of the family because you do not want your loved ones to go hungry.

Crypto trading is difficult to be your main source of income, although it can be done, but while you are doing it, you should also look for other ways to earn money besides crypto trading.

As the head of the family, we should have a fixed income to finance our family's needs because we cannot rely on profits from trading. Maybe if we are a professional trader, we can get consistent profits, but if we are not focused on trading, it is difficult to do.

[enwi]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

       -      Well, what you said is right mate, because in this era, we humans need to be capable especially if you are a family man who is the only one your family expects from you. It is not easy to be the breadwinner or head of the family because you do not want your loved ones to go hungry.

Crypto trading is difficult to be your main source of income, although it can be done, but while you are doing it, you should also look for other ways to earn money besides crypto trading.

As the head of the family, we should have a fixed income to finance our family's needs because we cannot rely on profits from trading. Maybe if we are a professional trader, we can get consistent profits, but if we are not focused on trading, it is difficult to do.

It is very true that it is the responsibility of the family to ensure that the financial part of the family is in order and having a steady income is very essentalial to day to day life. Thus, trade, opening which ones a lot of shiny and actual global profit opportunities, as a rule, contains uncertainty, especially if one has no enough experience or inbuilt amazing passion in this sphere. Indeed for most of us who are not fully active as professional traders it is very risky to focus all our financial expectations on these trading results. So, main and stable source of income is the safer and wiser decision that guarantees satisfying family needs. While trading is possible as an addition, trading must be made as secondary, so long as we conduct it cautiously and with funds that do not necessarily go to our basic necessities.

[bitterguy28]

Crypto trading is difficult to be your main source of income, although it can be done, but while you are doing it, you should also look for other ways to earn money besides crypto trading.

actually it is difficult to have crypto trading as your main source of income while doing something else maybe if it was just a business you do not have to focus on that much all the time then it is possible but if you plan on crypto trading while having a day job you should know that it will not be easy since crypto trading, unlike stock trading, do not have a time for when it opens or closes the market and it is extremely volatile that if you miss a specific time you might not be able to get the same opportunity previously presented

[dave_strider]

As the head of the family, we should have a fixed income to finance our family's needs because we cannot rely on profits from trading. Maybe if we are a professional trader, we can get consistent profits, but if we are not focused on trading, it is difficult to do.

We either lock into trading fully, or we need to have a stable job, I agree with that.
Either way - profit is at stake, and our life's comfort too.
Much knowledge and expertise are needed to live fully through trading.

[Bobcrypto]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

There are actually some factors that may limit some persons  ability to rely on trading as one's means of earning on the crypto economy, and it not a bad ideas to rely on trading coins as a means of income or a career. One of the factors that limit some persons on making trading as the only means of earning is good capital.
I think that low capital has been one of the biggest setbacks to traders who wanted take crypto trading as a career. In addition, low capital has also caused  many delays in closing market positions as prices hit some profit levels as certain traders had planned.

For example, there are great difference between two traders that took a long positions with a capital of, $100 and $500 to to trade a coin on a long position of $1, and to close their positions when the price of the asset increases to $1.3,

Now, if you multiply both outcomes, the results will be like this, 1.3×100= $130, 1.3×500= 650. This is the take profit rates, $30 and $150 respectively.
As a matter of facts, if another trader has a bigger capital to trade the same coin, you may agreed with me that he may even close his position before the price increase to $1.3, and for fear of a dump, he may choose to close his position at $1.15, if he entered this trade with $1000 as his capital.

Others setbacks for effective trading are experiences, emotions, 

[Chilwell]

I agree with your post. Relying solely your source of income in trading might affect the quality of your trades. It's better save money first that you earn from trading until it's good enough to cover your bills for many months before you stop working in your physical job. Because even if you are profitable today doesn't mean you are in the future. If ever you experience a couple of losses in your trade it won't make you worry about the bills, so it won't affect your emotion. If your have stable emotion you can trade with your best.

Exactly, it is advisable for a trader to avoid using your trading profits immediately to fulfill your financial responsibilities because doing so will make it challenging to gauge your progress and sustainability. Just maintain a diversified income stream and don't rely solely on trading profits to make your life stable or achieve your goals and desires. Trading profitability can be unpredictable, and relying solely on trading income can lead to financial problems. It is also advisable for a trader to ensure that he has another sources of income to fall back on during periods of trading losses or uncertainty.

[electronicash]

the dogecoinmillionaire user although he because a millionaire after Elon shilled Doge, he still works in his regular 9-5 job despite having so much money. it must have given him extra security while investing in some crypto tokens that he might not even withdraw when he needed it fast.

Whatever happens to his investment, he sure will still not worry the next day since he has a stable job.

[JoyMarsha]

Do you have another trading psychology tip to share with me?

One of the psychological hacks I can add up is for someone who calls him or herself a trader to have a long-term perspective about trading, not focusing on short-term losses that will have them discouraged because trading really requires continuous learning and improving your trading skills often.

[bounceback]

Exactly full agree with OP statement "when you have multiple way source income get relaxed with trading although on losses position" You can hold as long possibility without take cut loss when cryptocurrency assets price going dump because your daily day needed back up by another source income, but if trading as your main job its risk when holding as longer possibility and your saving decreasing drastically without any back up from another way for source income.
So for trader after earn much profit from trading don't worry for spending at real business or another way to earn more source income in the future.

[LUCKMCFLY]

Well I know people who do make a living from trading, I don't know how they do it, but they have that ability, however things have to be seen from the point of view that best suits each one of us, we have very different tendencies from each other, personally I would not venture to make trading my only means of survival because the moment I make a mistake everything would go that far, it would be quite irresponsible to do so, however a psychologist only gives you their vision, a psychologist is not a trader, he only provides a general solution.

[Crypto Library]

Do you have another trading psychology tip to share with me?

Well, I will agree here that when a person have a stable income source he will able to do the trading with relaxed and yes that also save some time doing the mistakes on trading. But in the mean time I think we have to also keep this on our mind that even if we have a stable income we must know the our affordable zone on trading, like even if we have a stable job and we made the amount invest on trading what we can't afford to lose then there will be nothing different.

[ZAINmalik75]

Because of how trading is, many people don't like to depend on it without having any other thing doing to back it up because trading losses can make someone go bankrupt if they don't learn to detach themselves from having an emotional attachment to specific trades or outcomes.

Trading shouldn't be a full time job. It can only be a part-time job, to support one finances

Trading can not be part time job too because if we are doing a 9 to 5 job it would hard for us to give time to trading because it require us to act fact in times when market is volatile and in 9 to 5 job it can be hard to keep track of the market and with pressure and more work load we might not be able to see the charts.

Therefore to ean from trading we must give full time or at least dedicate most of our time to it to analyze and find more opportunties to make money.