Bitcoin Forum

Speculators have a lot of "enemies", many of which come from themselves,They were able to successfully destroy him from within. At that time, many of the mistakes made by funds appeared in my mind.

I have realized that a person may have creative thinking and maintain the habit of independent thinking for life, but he is also vulnerable when facing a very persuasive person.

I have quite a strong immunity to common speculators’ problems, such as greed, fear, and hope. But as an ordinary person, I find myself still prone to making mistakes.

The only way to fight those enemies that you're talking about is probably just be yourself and embrace them. Don't fight them because they only get worse, befriend and slowly discipline yourself and in time this enemies will slowly disappear.

Don't just rely on your own knowledge wherein sometimes always makes research because that's the most important thing for a trader and so that also you can prove it to your self that you're in the right side, a friendly reminder that never make an arguments to someone who have different views because it's useless.. Just mind your own business instead because your are the one that can make your self successful not them. 

Ps. there's no impossible on this space remember that just don't let your self down because of mistakes.   ;)

You don't have the monopoly of knowledge so it's always for the best to seek help, asked questions and by far a not so popular way is by teaching others. The latter method seems uncommon but once you teach even the basic you'd find yourself the way to know more or delve more in search for information and knowledge. You may disagree with me but there has been some instances or studies that this kind of method tend to have impact especially to yourself.

As long as you can manage yourself and always control your emotion, you will not have difficulty preventing greed, fear and you always believe that hope will always be there. You can learn how to calm yourself down and make that emotion your friend. We can not eliminate that but we can make it peace for ourselves but we need time before you can do that. You need to have the patience to control yourself and learn how to communicate with yourself to help you improve yourself.

Making mistakes is not a bad thing, but the problem lies in not learning from these mistakes and benefiting from them in the future.
The same applies to confronting a convincing person, as no one knows the future, and some build arguments, and they may be logical, but they will not always be correct because no one knows the direction of the price.

Build an independent plan and develop it vigorously and it will not fail.

This sounds like one of those cryptic sayings from esoteric wall calendars ... and it is just as realistic that you control your feelings 100%. Even professional traders (or professional poker players, where emotion control is even more important) constantly lapse into their emotions, even more often you can see it in professional athletes, for example.

To actually block out your emotions and trade purely rationally requires years of experience and targeted training, I doubt that an amateur trader has the time or the desire to do so. However, there is a much easier way: A trading plan that you follow 100% - or even better, have it executed by a bot.

And it's actually quite natural imo. We're simply humans, we make mistakes all the time and we can't actually stop that. Reducing that though, and learning from those mistakes, is possible. Trading simply takes time and experience and isn't one of those things that you can just hit off with after a single instance. It's okay to greed, it's okay to not greed, it's okay to overinvest, it's totally fine, just make sure that you actually learn from it and that you CAN afford it, and if you did, and you did it again, make sure it was because you were sure you could do it.

No one is perfect and speculation is all about someone's mistake is going to bring you profits. Speculation will become less risky when you know the project you invested has long future for example bitcoin so you no need to worry about the market change, just wait for your price to reach until that you have no job other than being patient.

The enemy within is called greed, one of the seven deadly sins. Once you learn to control it and focus on the numbers it is easier to make profit. TA, sentiment, fear & greed index, these are your friends, don't let greed & emotion get in your way. This is easier said than done ofc!

Don't so closed minded when taking decisions in trading, sure everyone say that you should go with your own strategy and what you see it right, but also you should always take in consideration other people's opinions because its the majority that moves this market and you don't wanna be on the other side, sure don't be a sheep and follow other people's advice blindly but its good to take others opinions in consideration

We are all ordinary people, and successful people are nothing more than perseverance, skills and background than others. Everyone here is smart

You can say that, but I believe that even new traders can control their emotions, especially if they can control themselves daily. That would help him in trading, which will always interfere with your way to trade. If you constantly lapse your emotion, you learn how to control yourself and not try to trade when your emotion is not in a good mood.

I agree that block out your emotions needs years of experience, but as long as there is an effort from that person, it does not take years because he will find a way to control emotions. Using a bot can not be a solution because you need to understand how to run the bot and need time before you master the bot.

Speculators who are not professional and skillful are not different than gamblers. They can consider themselves as traders, investors or speculators but they are gamblers from what they do.

Gamblers usually are punished by the market and the market does not mind what they call themselves as.

If speculators use 10x, 20x, 50x or 100x for their trades because of whatever speculation they have in minds, they are gamblers and will be punished with market crashes, with news, with policy-related manipulations.

I would also add that one should not judge their trading skills too quickly.

Most of us are making two common mistakes when judging too quickly:
1- Considering ourselves pro: If you made some profit initially in trading doesn't mean you have mastered the art of trading because it might be pure luck as well.

2- Getting too dejected by losses: Look, even the biggest and best traders face loss and there's no reason to judge yourself harshly for a mistake that could have been a tremendous stepping stone.

The simple is to learn as much you can and gain experience of the market in which you can suffer loses also but you need to be consistent and don't lose heart.Seek advice from others if you have doubt but do the maths yourself and choose best option that is available with you instead of blindly following the others path and then regret your decision afterwards.With your journey you will learn lot a things and having patience and ability to learn will guide you in life.

There's no perfect person, and even the most knowledgeable one is struggling in some cases. Even professionals, hustlers, experts, and so on.

Just be who you are. Take a deep breath and relax your mind before engaging in any hard and stressful activity.

If this is about your experience in trading, focus and be serious. Someday, you won't have that kind of question in the future.

Yes, it is right. We consider that we are a newbie, same as the other newbie, to make us learn more to improve ourselves. If we do not call ourselves a pro, we will not feel satisfied with what we already achieve and that will help us learn or research what we need to improve.

Getting sad or disappointed is normal, but how we can rise from our sadness will not be easy and needs effort. Every trader has the same experience of losing their money, although the amount is different, but not many traders have a will to rise and learn harder than the other to recover the losses and make a profit.

Isn't that just being human? With regards to all the things that you are doing, you can always make mistakes but one thing that most people lack on is correcting them immediately. For sure, you can get fear and uncertainty towards something but you should just know that you are able to get through it if you are going to be aware that it's happening and then form a corrective action towards it.

I think speculating is always going to be a hard thing to master because it's already an unknown entity or not foreseeable. You wouldn't know what to expect and there the fear arises.

It's normal, we all have our doubts and anxieties in life and sometimes making a decision is really big factor to triggering these stuff, what you need to understand when dealing with this is that you decisions isn't dumb and that it will bear fruit in the near future, those enemies that you are talking is just greed, having it's voice, best to ignore it.

Speculators are like those people you come across in normal life,,, they get in something, find it so cool and tell everyone about it. Like hey I am into crypto or I am a Bitcoin investor wow.

And then when things go well they take full credit. When things do not,,, they blame everyone and anything except themselves.

To the moon, speculators:)

Speculators should probably also tell others what is going to happen, not that they know but they will tell like they really "know" what is going to happen, that is one of the parts of being a speculator.. you know? Speculate?

That is why just doing something crazy all by yourself doesn't mean a thing unless you go out there and yell at the world how your opinion and assumptions are all real facts and then when you are wrong act like nothing happened and move to the next thing, eventually one day you will be right and you will yell to the whole world about how you were right, doesn't matter if you had 10 wrong before that, you will end up being right once, then do that 5-10 times more, be wrong 100 times if you want to, you can delete the messages in the end, and when you get to 5-10 rights combine them all into one message to "prove" how awesome you are. This is how fake speculators work, I have seen a thousand of them.