Bitcoin Forum

A trader can be likened a fisherman and The market can be likened the sea. We can not control the sea, but we can direct our ship. You don't need defeat the market but your self. So you need psychology trading.

You need psychology in trading because you have to have an inkling of how the buyers or sellers will act when a price is hit. You need to have a certain method or plan and stick to it because you believe that by holding on to it and getting your emotions intact and its not getting in the way of your trading, you will be rewarded or have a profit in the end. If the movement is not on your side then you just have to stay firm with your decision/strategy because you know that you cannot control the market but you can control yourself which is a big factor in trading not deciding immediately because the situation is not in favor with you.

Nice comparison, fishermen and the see. OP made it very simple, but everyone knows that in ocean there is many different species, and ocean is very big. Not everyone have a boat, from the size of that boat it depends how far we can go from coast, and that is for deep ocean. People without a boat like me, can stand on the beach and fish from there.
Then its not same bait for every fish, different stick.. and many more little things. If its easy to catch a fish everyone would do it.

you need knowledge of the see.
you can drive (?) your ship to a place where there is no fish and spread your net. or you can go to a place that is filled with fishes and spread your net there.
your mentality only comes in play after you catch the fish based on your knowledge you can hold the fish until it dies and goes sour or you can get back and enjoy eating your fish while it is fresh :D

What a quote :P, of course you are the captain of your ship but the sea is not stable and the risk to sank the ship is high.
There are some pirates on the sea which 'hack' the ships and unfortunately the small ships are affected too. - If you know what i mean.

Nice bro, your words has kick my hand from mouse.
Sure in trading we take double positions as a buyer and seller, so psychology trading is required.

yeah, exactly the psychology in trading is so important.
emotions has no place in a business and when money gets involved you should get rid of all your emotions and make logical decisions only or else you will make irrational decisions and start losing money which is not desirable for any trader.

So what is you need? And how is about psicology trading? Do you understand it?  ::) You must explain more about your statement, because your explaining is about risk there are not solution. Let me know about the solution. I am waiting your experience about trading.  ;D

We just need to catch the wave when we feel it. Rowing against the waves will do no good but only harm you. Do you think it is a bull market, then buy! You think the market gotten fat enough and a crash is on the way? Get out! Very simple.

Indeed. I think psychology is all. The real masters have total control over it and that's why they're the winners. You can have all the knowledge and training in the world, but if you start squealing and running around in circles every time it moves against you then you'll always be nowhere.

and this is why we keep seeing price swings in bitcoin and much bigger price swings in altcoins, because there are so many novice traders in cryptocurrency trading that a simple and smallest manipulation can cause a lot of havoc and then the panic selling starts.

That's a nice comparison that you have made. As said by you sea is very vast and it's not easy for a fisherman to catch a fish, let alone a big fish. It's similar for traders to make profit it's just not easy.

I'm not sure I completely understand what you are saying, but in trading, you need to watch the price and take advantage of the drops in price to buy and the peaks to sell. Otherwise you would have to just hold for a long term profit.

Yes. I think it's far too small to attract the absolute trading titans, but if they took a closer look their mouths would start to water.

Unregulated, 24/7, and filled with minnows who've probably never traded anything else in their entire lives who are also seemingly willing to be scammed and have a penchant for emotional attachment to their shitcoin.

That's nirvana for someone with the right mindset.

his English is a little bit off but I think it is pretty clear what he is trying to say here.
it is about the control that you must have over yourself when it comes to making big decisions in trading since money is involved.
I think the better term to use instead of phycology is emotion, because it is really the emotions that is causing this much trouble when it comes to trading. the panics of missing out if you like.

I think that you didn't get it, if you can analyze well you should understand that the easiest way to not fall on this is by not holding your money on exchange.
We don't need to use exchange's wallet as our personal wallet to hold there our money because as we have seen many exchanges were hacked and our funds were gone.

It is just parable between market and trader, and  i need  psycology trading. I don't said about way of trading and i think it is easy for be understood, so tell me about your parable between market and trader.

Well said, sir.  I have seen far too many credulous suckers here go full GAGA over what turns out to be a steaming bowl of turds.  It just never gets old, but then you'll get the threads crying "scam!" when everyone should have known that from the beginning.

i think its no need to use psychology trading. its just how to make profit, thats all  ;D why we so hard to think about psychology trading? just trading when you think its your time, and buy what you want to buy or sell what you want to sell. if you don't want to buy or sell, just wacth the market, sit back with your coffee. don't think too hard, because its not good for your health.

I can understand about your opinions, but for me trading is serious business. I don't wanna burn my money in it, and i don't just make buy and sell without method. And do you know, there are not many people who discussion about psychology trading even if on this forum.

the reason you don't see this topic here is that people here are either spamming nonsense to get paid or they are spamming nonsense to create hype or FUD and create panic and push the price up or down (both in bitcoin and altcoins this is true)

i knew about this concept but i have never searched for it, this topic made me do it and i found this great article on investopedia which i am sure people on this topic will like:
The Importance Of Trading Psychology And Discipline  (http://www.investopedia.com/articles/trading/02/110502.asp)

Psychology has its place in trading; you have to study facts (charts) and remove sentiments. Make decisions based on reason not whims, some buy based on intuition and things turn out right for them - this does not apply to the majority of traders.