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Author Topic: What is the main reason why you trade  (Read 6457 times)

Online Blaze

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Re: What is the main reason why you trade
« Reply #60 on: October 21, 2024, 06:39:44 AM »
I also have a friend who is addicted to trading and always focuses on doing daily trading by always practicing to have good skills and expertise in trading. Can plan a good strategy and make fundamental and technical analysis to support the strategy he planned. and it cannot be mastered quickly and must require long experience and always learn from mistakes.
Is someone like him called an addict? If you think in that way, every day trader will be called as addict. I think he isn't addicted, he is a true day trader. As long as someone can trade in the right way, he isn't an addict but a trader who do his job in a proper way. Someone is called as an addict if he is starting doing something illogically. In my opinion, your friend is a professional trader, he has good ability as a day trader.
Well, It is wrong to regard a person as an addict because this individual often engages in trades, if the matter is addressed with certain precautions and calculated. In my opinion this signifies that if a person has the opportunity to trade correctly then they are trading perfectly like a dedicated day trader not just a mere addict. Addiction means that a person starts to do something over and over, without thinking about what will happen next, while a professional trader always thinks about the market and makes smart choices. So if your friend shows they can handle risk and develop a good strategy then you get the picture that this is a professional trader in their line of business, not a drug addict.

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Re: What is the main reason why you trade
« Reply #60 on: October 21, 2024, 06:39:44 AM »

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Re: What is the main reason why you trade
« Reply #61 on: October 21, 2024, 09:06:33 AM »
I also have a friend who is addicted to trading and always focuses on doing daily trading by always practicing to have good skills and expertise in trading. Can plan a good strategy and make fundamental and technical analysis to support the strategy he planned. and it cannot be mastered quickly and must require long experience and always learn from mistakes.
Is someone like him called an addict? If you think in that way, every day trader will be called as addict. I think he isn't addicted, he is a true day trader. As long as someone can trade in the right way, he isn't an addict but a trader who do his job in a proper way. Someone is called as an addict if he is starting doing something illogically. In my opinion, your friend is a professional trader, he has good ability as a day trader.
Well, It is wrong to regard a person as an addict because this individual often engages in trades, if the matter is addressed with certain precautions and calculated. In my opinion this signifies that if a person has the opportunity to trade correctly then they are trading perfectly like a dedicated day trader not just a mere addict. Addiction means that a person starts to do something over and over, without thinking about what will happen next, while a professional trader always thinks about the market and makes smart choices. So if your friend shows they can handle risk and develop a good strategy then you get the picture that this is a professional trader in their line of business, not a drug addict.

A trader - tries - to read the market like a book, but sometimes, it's not going like that.
In that case, it's important to have a break, rather than trying to "avenge" the market, sorta  ;D

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Re: What is the main reason why you trade
« Reply #61 on: October 21, 2024, 09:06:33 AM »

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Offline MRY

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Re: What is the main reason why you trade
« Reply #62 on: October 22, 2024, 03:59:39 PM »
I also have a friend who is addicted to trading and always focuses on doing daily trading by always practicing to have good skills and expertise in trading. Can plan a good strategy and make fundamental and technical analysis to support the strategy he planned. and it cannot be mastered quickly and must require long experience and always learn from mistakes.
Is someone like him called an addict? If you think in that way, every day trader will be called as addict. I think he isn't addicted, he is a true day trader. As long as someone can trade in the right way, he isn't an addict but a trader who do his job in a proper way. Someone is called as an addict if he is starting doing something illogically. In my opinion, your friend is a professional trader, he has good ability as a day trader.
Well, It is wrong to regard a person as an addict because this individual often engages in trades, if the matter is addressed with certain precautions and calculated. In my opinion this signifies that if a person has the opportunity to trade correctly then they are trading perfectly like a dedicated day trader not just a mere addict. Addiction means that a person starts to do something over and over, without thinking about what will happen next, while a professional trader always thinks about the market and makes smart choices. So if your friend shows they can handle risk and develop a good strategy then you get the picture that this is a professional trader in their line of business, not a drug addict.
Although we believe that trading from time to time, especially having a certain strategy in mind is professional, there is a possibility this activity will transform into an addiction. We sometimes get too enmeshed with the market to the extent that we get swayed by short term market sentiments. If we believe that we can handle risk, sharp market swings condition us for a never-ending stream of invitations to make less than fully rational choices. Finally, what separates controlled trading from reckless overtrading may be very thin if we are not careful.
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Offline enoch_from_off

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Re: What is the main reason why you trade
« Reply #63 on: October 22, 2024, 05:38:00 PM »
I also have a friend who is addicted to trading and always focuses on doing daily trading by always practicing to have good skills and expertise in trading. Can plan a good strategy and make fundamental and technical analysis to support the strategy he planned. and it cannot be mastered quickly and must require long experience and always learn from mistakes.
Is someone like him called an addict? If you think in that way, every day trader will be called as addict. I think he isn't addicted, he is a true day trader. As long as someone can trade in the right way, he isn't an addict but a trader who do his job in a proper way. Someone is called as an addict if he is starting doing something illogically. In my opinion, your friend is a professional trader, he has good ability as a day trader.
Well, It is wrong to regard a person as an addict because this individual often engages in trades, if the matter is addressed with certain precautions and calculated. In my opinion this signifies that if a person has the opportunity to trade correctly then they are trading perfectly like a dedicated day trader not just a mere addict. Addiction means that a person starts to do something over and over, without thinking about what will happen next, while a professional trader always thinks about the market and makes smart choices. So if your friend shows they can handle risk and develop a good strategy then you get the picture that this is a professional trader in their line of business, not a drug addict.
Although we believe that trading from time to time, especially having a certain strategy in mind is professional, there is a possibility this activity will transform into an addiction. We sometimes get too enmeshed with the market to the extent that we get swayed by short term market sentiments. If we believe that we can handle risk, sharp market swings condition us for a never-ending stream of invitations to make less than fully rational choices. Finally, what separates controlled trading from reckless overtrading may be very thin if we are not careful.

Simply put - if you are responsible, you will use the tools to limit your sessions while trading.
If not - your loss, really.

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Re: What is the main reason why you trade
« Reply #64 on: October 24, 2024, 06:20:17 AM »
A trader - tries - to read the market like a book, but sometimes, it's not going like that.
In that case, it's important to have a break, rather than trying to "avenge" the market, sorta  ;D
You are right about that, I could say that when it becomes a little heavy to understand the market it is better to wait, be patient and do things better, I could say that I have had to do it, sometimes clearing the mind a little works, sometimes analyzing the movements with a cool head can give us an idea of ​​what can be generated in learning, but having a cool head, I am like that in trading, I do not only trade with btc, I also trade with binary options, and in these days due to lack of concentration I lost in a very foolish way.
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Offline legend45

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Re: What is the main reason why you trade
« Reply #65 on: October 24, 2024, 01:33:55 PM »
A trader - tries - to read the market like a book, but sometimes, it's not going like that.
In that case, it's important to have a break, rather than trying to "avenge" the market, sorta  ;D
You are right about that, I could say that when it becomes a little heavy to understand the market it is better to wait, be patient and do things better, I could say that I have had to do it, sometimes clearing the mind a little works, sometimes analyzing the movements with a cool head can give us an idea of ​​what can be generated in learning, but having a cool head, I am like that in trading, I do not only trade with btc, I also trade with binary options, and in these days due to lack of concentration I lost in a very foolish way.
I also feel the same way, when I feel heavy to understand the market condition I will stop and refresh and not force myself. I will wait until I have a clear mind and can make analysis then plan a strategy and make an investment.
I also often have difficulty seeing the market because it seems like the market movement is difficult to analyze, and I decide to drink coffee and stay away from the exchange.
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Re: What is the main reason why you trade
« Reply #66 on: October 24, 2024, 02:53:44 PM »

A trader - tries - to read the market like a book, but sometimes, it's not going like that.
In that case, it's important to have a break, rather than trying to "avenge" the market, sorta  ;D

because the level of emotion will increase, especially if the price continues to fall, and has not taken any profit, analysis after analysis cannot be used as a 100% reference in trading practice, instinct and not being greedy are the main keys in trading

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Re: What is the main reason why you trade
« Reply #66 on: October 24, 2024, 02:53:44 PM »


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Re: What is the main reason why you trade
« Reply #67 on: October 26, 2024, 09:47:44 PM »
In my opinion, people want to trade because they want to left their jobs so that they can have so much time to do with other things that is important. If you are trading, it doesn't consume so much time and it very accessible at any place even you are travelling as long as there's an internet connection. That's what I think the reason why people trade. But unfortunately, most traders failed because they're not ready enough to face the struggles in their trading journey.
It is not recommended to leave our jobs. I think it is not really necessary to use all time to trade. Trading can be done while we are working our real jobs. I also trade but I never trade the whole day, I just use few hours to trade. I think it is enough to trade in few hours, there is no need to trade for the whole day. When the market is in red, I also prefer to stop trading. So, I don't trade every time, I choose the right time to trade.


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Re: What is the main reason why you trade
« Reply #68 on: October 27, 2024, 05:27:55 AM »
In my opinion, people want to trade because they want to left their jobs so that they can have so much time to do with other things that is important. If you are trading, it doesn't consume so much time and it very accessible at any place even you are travelling as long as there's an internet connection. That's what I think the reason why people trade. But unfortunately, most traders failed because they're not ready enough to face the struggles in their trading journey.
It is not recommended to leave our jobs. I think it is not really necessary to use all time to trade. Trading can be done while we are working our real jobs. I also trade but I never trade the whole day, I just use few hours to trade. I think it is enough to trade in few hours, there is no need to trade for the whole day. When the market is in red, I also prefer to stop trading. So, I don't trade every time, I choose the right time to trade.
So we can understand how valuable it is to have a balance of trading and main working activities. It is efficient to use the available time and get as involved in the market as we need to be without having to giving up other duties. By manipulating the trading time or the time we dedicate to investing we can do it with more concentration and serenity. Moreover, getting out when the market is bearish is the best decision, as we lose not a penny and can invest at a better time.
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Re: What is the main reason why you trade
« Reply #69 on: October 27, 2024, 09:24:54 PM »
So we can understand how valuable it is to have a balance of trading and main working activities. It is efficient to use the available time and get as involved in the market as we need to be without having to giving up other duties. By manipulating the trading time or the time we dedicate to investing we can do it with more concentration and serenity. Moreover, getting out when the market is bearish is the best decision, as we lose not a penny and can invest at a better time.
It's easy to say but in practice, your psychology will really come into play.
The plan to exit the bear market and buy when the price is lower will not go according to plan when you follow the FOMO too much and buy at a high price, it will be quite a burden for you.

You really have to be able to control the psychology of trading well, don't follow FOMO too much and do the right management.

And about the time balance between trading and the main work activity, it can be adjusted according to the main work activity, do not let the main job be abandoned because the main job is a source of income that needs to be maintained for the continuity of your investment.

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Re: What is the main reason why you trade
« Reply #70 on: October 28, 2024, 02:27:33 PM »
So we can understand how valuable it is to have a balance of trading and main working activities. It is efficient to use the available time and get as involved in the market as we need to be without having to giving up other duties. By manipulating the trading time or the time we dedicate to investing we can do it with more concentration and serenity. Moreover, getting out when the market is bearish is the best decision, as we lose not a penny and can invest at a better time.
It's easy to say but in practice, your psychology will really come into play.
The plan to exit the bear market and buy when the price is lower will not go according to plan when you follow the FOMO too much and buy at a high price, it will be quite a burden for you.

You really have to be able to control the psychology of trading well, don't follow FOMO too much and do the right management.

And about the time balance between trading and the main work activity, it can be adjusted according to the main work activity, do not let the main job be abandoned because the main job is a source of income that needs to be maintained for the continuity of your investment.
Your suggestion is very good, I agree with you. If we trade and have a main job, don't let our trading interfere with our main job in the real world. Because the main job is important enough to meet our living needs.
Investing in crypto is another job so we can get additional income.

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Re: What is the main reason why you trade
« Reply #71 on: October 29, 2024, 04:43:48 AM »

I also feel the same way, when I feel heavy to understand the market condition I will stop and refresh and not force myself. I will wait until I have a clear mind and can make analysis then plan a strategy and make an investment.
I also often have difficulty seeing the market because it seems like the market movement is difficult to analyze, and I decide to drink coffee and stay away from the exchange.

In fact you do very well, because basically when one is blocked or sees the good entries to the market and one is in a cycle that is difficult to break, sometimes a coffee, a day that one gives oneself can clear the mind and can have a better vision of the market, I have also done the same, now I do another type of trading that is at 1 minute, it is a trade that is sometimes hard to do, but when I have already had 2 or 3 bad operations, I do not continue doing more trading, because I am already overwhelmed with analysis and I have analyzed everything badly, with the losses that I have, well, I have learned, sometimes mistakes that one makes to do the operations quickly and it is something that is even more annoying.
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Re: What is the main reason why you trade
« Reply #72 on: October 29, 2024, 09:46:27 PM »
Your suggestion is very good, I agree with you. If we trade and have a main job, don't let our trading interfere with our main job in the real world. Because the main job is important enough to meet our living needs.
Investing in crypto is another job so we can get additional income.
As if a side job will only take a little of our time and only take some time to set it up.
I've been doing a job in crypto for quite some time and it's been my best side hustle.

Even though it is said to be a side job, the results provided exceed my salary as an employee.
But in the end I am now a full crypto worker and not a side job anymore but a main job.

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Re: What is the main reason why you trade
« Reply #73 on: October 30, 2024, 11:05:53 PM »
Your suggestion is very good, I agree with you. If we trade and have a main job, don't let our trading interfere with our main job in the real world. Because the main job is important enough to meet our living needs.
Investing in crypto is another job so we can get additional income.
As if a side job will only take a little of our time and only take some time to set it up.
I've been doing a job in crypto for quite some time and it's been my best side hustle.

Even though it is said to be a side job, the results provided exceed my salary as an employee.
But in the end I am now a full crypto worker and not a side job anymore but a main job.
As was with me the first time when I met Crypto, it looked like working in crypto field as a side job that just requires a little time and yet yields highly satisfying outcomes. Gradually, this provided than just an additional offer, more than our primary source of income.

We have now gone fully to crypto as our major work or business. This is a profession that was developed out of a secondary source of income and has now become our primary source of income so we are extremely committed to it.
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Re: What is the main reason why you trade
« Reply #74 on: October 31, 2024, 06:55:47 PM »
-snip-
We have now gone fully to crypto as our major work or business. This is a profession that was developed out of a secondary source of income and has now become our primary source of income so we are extremely committed to it.
Just like what you do now, crypto is my main source of income now and it makes me earn more than I did when I worked for other companies.

A side hustle that was built from a side job, with some capital that was not too much at first and I was able to grow it because I bought some coins including BTC and ETH which I then held for about 1-2 years and it gave quite an incredible profit and made my portfolio grow even more.

 

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