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I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not  having the right approach and risk management, fundamentals...that affect your trades

In my opinion, bitcoin is something sophisticated and phenomenal, and for some reason every time I buy bitcoin the price goes down and when I sell it the price goes up. it's so magical.  :D

Long term guys, this is the best of the best. Of course, if you have strong finances, so you don't need to sell when you have suddenly need money

First of all, explain what you meant as psychological trading.

Is it a type in which a trader will trade without having any bases of analysis? If that is it, it means the person is just gambling. Or does it mean a trader will not trade at all until the price of bitcoin has fallen so significantly? That is a good type of trading if that is what you mean.

But this would be good only for swing traders and holders. As for scalpers and day traders, technical analysis is very important.

It doesn't matter what your trading is based on, whether you use technical analysis or fundamental analysis. Psychology is present in any kind of trading. Psychology is an integral part of any kind of trading. A trader must use psychology because without it he will not be able to react adequately to losses and will not be able to use risk management adequately.

You only need to lose money a few times in trading to understand how much psychology can influence you. Someone tries to control their emotions with the help of clear rules, and does not allow themselves to break them, while someone really has a very strong character and is not influenced enough that it could harm him. Results can only be achieved using an integrated approach.

Trading psychology is, first of all, the ability to not succumb to destructive emotions when following your trading system. But if there is no trading system, then destructive emotions are inevitable. If you don't have working trading setups, you will experience FOMO when an asset rises, or you will have panic selling when an asset drops sharply. It's unavoidable. Of course, psychology will not replace knowledge of technical analysis if your strategies are based on it. But if you have some very simple strategies like rebalancing, then control over emotions, that is, psychology, is important. But if you know technical analysis, then a lot will become clearer to you. And unnecessary emotions arise precisely because of misunderstanding.

Its the mindset - being a person who does not sell when the market is falling and does not buy when the market is rising is important. The majority of people who enter crypto are with a get-rich-quick mindset, because of which they will follow this mistaken line of trading.

If your mindset is not like that you will be able to make profits be it short or long term, provided you keep yourself limited to bitcoin. I cant talk about altcoins, they are not my cup of tea.

TA is going to show you the trend, but do not depend on TA fully, the market has a bad habit of reversing itself before you know it.

What you just said is one of the reasons why traders often fail in the market, they are not properly informed in most cases, while some do not even believe that "what is right is worth doing." I don't know if you are privileged to read my posts about this in the past that traders need a lot in the market before they can be successful. If they lack any of such criteria, they will never be successful.

Traders need;

1. Good trading strategy which they can use to form a timeproof trading system.
2. Proper money and risk management.
3. Balanced trading psychology
4. Great trading plan that will coordinate all that they know about the market trading.

However, the knowledge of one or some without the knowledge of all is bad, not to mention the application of them. All must be known, established and applied rightly before success can be made in trading.

It exists, and it is closer to the experience that is gained through experiments, and these experiences come from more daily trading, which makes you have a better ability to know the points of support and resistance and how to enter and exit the market at the appropriate time. It is similar to a mechanic who works in car repair for many years, and through sound you can He knows the malfunctions, which is a feature that no one can know if he is a beginner.

Not depending on the TA as a whole is the best advice ever, because I know for a fact that it is not going to be true at all times, it is going to have some bad results if you are not careful at all. I believe that we are going to end up with something that should benefit them all, and because of this the result may end up with not getting great returns eventually. This of course is not that easy to handle, and we may end up with easy solutions.

The best thing to do would be checking the TA, and hoping that it would be a good result but if we are not careful then it's fine, we could just ignore the TA result that we saw and focus on something else. Do not trade without TA, but do not trade just because of TA neither, that's solid advice.

It is real and it has a massive effect on whether you succeed or not as a trader, you can have the most perfect strategy ever devised by any trader, but all of that does not matter if you are not willing to put it into practice, because you are afraid of losing money or you got scared due to the extreme movements of the market.

Without working on yourself and your mentality you have no chance at all to make profits on the markets on your own, so you will have to either find someone else to do this for you or code a bot which can trade in your place.

The trading strategy employed effective risk management is critical to survival in the markets.Fundamental analysis involve evaluating value of an asset based on economic financial and qualitative factor.

Psychology does exist but first, you have to make sure what is the definition of psychology in your knowledge or mind. Different people have different ideas, my idea is a mindset about the market that it can make me rich over night, over halvings, or a get-rich scheme, etc. Besides this, emotions also come in this category, and believe me they are the worst factors that make you lose money on your small decisions. But also helps you sometimes to make some good money too.

They work both ways, a control on psychology is necessary as necessary as the right approach and risk management is, because if you are not minimizing your risk, and diversifying your portfolio, don't applying DCA for accumulation and for profit, and other many techniques to increase the profit and minimize the loss then you are making a big mistake, because we can't make profit on the basis of psychological factors only, we need proper TA to make some money. Otherwise we are all depend on our fortune.

It's what works for you.
If those people or other traders don't believe in psychology then so be it and let them believe what they want to believe. As long as they're not hurting you and your strategy, that's no biggie. And if what works for them is technical analysis, many are going to agree and won't argue with that because that's how many traders are earning with their trades.

You do TA or FA, whatever it is or combining both of them together with psychology or anything on how you read the market. That's what make sense. There's no need to stomp on others strategies if they're making and wins on it and they're not affecting you. This is why we've been telling to mind our own business because it's the same with trading. If your strategy is profitable for you and you only does candle stick reading and technical analysis, who are we to argue with your proven effective strategy with your trades?

Others are even lucky and just trades when necessary. They just simply buy at low and don't do anything but to wait, and we never hear any argument with that because most of us are doing it and only selling at the top or when we're already in profit.

You mentioned what traders need so let's me mention what traders don't need.

• Pressure to trade too much (over trade) to gain profit. This pressure will force traders to open more inaccurate, unsafe trades that eventually result in loss, not profit.
• Pressure to gain money from trading for using in life like daily expenses. It is another kind of pressure and traders don't need to force themselves opening trade positions, because of this pressure.

It means traders must have other money reserve to use and should never completely rely on trading for income.

What do you mean by solid psychology? Honestly, I have never heard of psychology on trading. If you think it's like hype or fomo, it's something fundamental.

Do you mean here about emotions? If so, I think good emotions are really needed by a trader. He must be able to think clearly about what he should do about the situation.

About technical analysis, I think this is mandatory for all traders. Because without a good TA, he will only find dead ends and darkness. I experienced this when I first entered trading, and it made me some loses. TA can provide an overview of curve predictions. If bullish, he will enter and if bearish he will exit to avoid losses.

Fundamentals are also important. It's usually for long-term trading. And should also have more money so that he not need to sell his assets when he has financial crisis.

I believe it works hand in hand when it comes to trading because having  the right psychology towards trading will lead to the right decisions and will pay off in the long run, on the other hand, it's the part where you don't know what you are going to do but just know all the knowledge but not in the right mindset, making the wrong decisions. It's definitely not an illusion but the correct risk management and right mindset would lead to better win percentage. We all know that we cannot always win 100%.

Yes, Psychology and our emotions exist and they play a very important role in life of a trader. No matter if a trader has a 80% winning strategy and 100% effective trading plan but without control of emotions it would be not possible for a trader to earn some good profits.

There are many traders who have developed their own strategies which are very workable and give profits from time to time and if they give the same strategy to other traders then they won't be able to make profit out of it. You know why? Because the one who has made the strategy also has some level of control over his emotions and can effectively execute the strategy than the ones who don't have such control over their emotions.

If someone really wants to be profitable as a trader then I believe that they should keep in their mind that trading is 80% a game of technical analysis and 20% a game of psychology and emotions. If someone achieves perfection over the 80% of it which's technical analysis and leaves the remaining 20% which game of psychology and emotions then such traders will end up losing money instead of making any profits. Even if they make some profits but they will lose those profits again if emotions like fear and greed attack them.

Exactly, why have a debate on which is more important when the truth is both psychological and technical analysis is related or a combination, you see in order to plot a good technical analysis with small margin of losses and a good profit potential you will need knowledge and also your strong psychological, because when it comes to execution you will contradict yourself by being afraid to take the risk or questioning yourself if you can take the risk, that's when the psychology part comes, if you can manipulate or control your mind then you can think straigj you can decide where you are going to earn or things will be on your way and also because of the markets volatility it is necessary to have a strong mind and psychological mindset in trading. Try doing a trade without a strong and built-up psychology; I'm sure you will panic and find it hard to decide as your mind will think of other scenarios or be an overthinker.

Yes, trading psychology exist. Psychology in trading is what determines wins/ profits/gains from losses. Losses which often time occurs when the traders allows their emotions becloud their judgement. No one is saying that you should be a keyboard-tapping robot programmed to only follow instructions on impulse without thinking. What we mean is that you should carry your head along with your heart. If you don't, then you will mess up you risk management, entry and exit, position sizing and others. Do your analysis well, and have a good strategy.

There might be reasons why he is finding the answer but it just doesn't make sense to me. Why make it different or have like a difference in both just because they are different fields? All I know is that trading requires a lot of things and both of it, Technical Analysis and Psychology, are the pillars. You can add experience if you want to as well.

Why would really be needing to have some argument on which one? if you could really be able to have two?.Trading psychology + having that TA knowledge then this is something that
would really be giving out that kind of advantage on your part and this is something that you would really be needing up to learn on this way so that on the time that you would really be
deciding on dealing up with this market. Its not something a skill or knowledge that you could be able to obtain so easily but at least you do already know or having at least the awareness on what it is.
You would really be needing in all sorts of stuffs all together so that you would really be able to make yourself at least be that knowledgeable on things on which you could apply
into your trading and this is something that you should be mind on.

From my experience as a trader, I believe that both psychology and technical analysis play a crucial role in successful trading. Psychology helps control emotions and make informed decisions, but without a winning strategy and risk management, results can be unpredictable. Thus, it's essential to strike a balance between psychological resilience and technical knowledge.

Psychology will be the determinant where decisions will always be based on feelings and feelings are played by trading psychology. when someone does not have a stable psychology about how to make the right decisions, this will have an impact on the profits and losses obtained in the end. Therefore, adjustments to psychology are needed and this also needs to be trained. Trading professionals will also experience unstable mental fluctuations when they are under strong stress levels. Therefore, keep your mood good and do not affect your psychology when trading.

Trading psychology is definitely important. The reason is that if one's mental condition is not good, then he will definitely make wrong decisions and here psychology helps people to make the right decisions. This is why I think it is important to be mentally healthy while trading. If you are not mentally healthy then it is not possible to make the right decision and manage the trade properly.

It exist and it plays and important role when you do trading. Your emotions are also based on your psychological trait and we cannot deny the fact that emotions is very important and when you are too emotional in trading that can be more risky. Risk management are also part of your psychological behavior as you intend to manage your decisions based on your emotion as well. You have to consider everything in trading and you have to be more aware of it than just ignore it.

It's almost impossible to take out psychology when discussing trading because it has got such a great role to play that you literally can't just lay it aside, as humans once we are involved in anything and it has a way of affecting our finances, there's always this psychological struggle around it too which you can't seem to down play even if you may think it's not important but it actually is and for sure we know it is. Your winning strategy is paramount no doubts but you still need a good and strong psychology to maintain that strategy because no strategy works all the time in the market but your psychology helps you hold on to your strategy and wait to apply it at the wright time.

Most traders may want to ignore the impact of a good and strong psychology but in the long term they still come back to working on their psychology as if you don't have a good psychology you are definitely going to get a whole lot of things wrong while trading even with the winning strategy.

If someone feels that his mental condition is not good, he does not need to force himself to trade. He will find it difficult to analyze market conditions if he is mentally disturbed, which will cause his analysis to be unable to find the right coin.
We can trade again after everything is resolved to analyze it well and find the coin. Even though we still need time to find the coins, we can still analyze them well and can focus on the analysis we do.
First, make sure your mentality is good so you can focus on analyzing the market and finding the right coin.

You need to have a solid psychology, an emotionally rock that doesn't flinch at any movements and can do what they need to do, but also remember all that you study from TA as well, and you should study TA because even though that may not be the answer at every turn, it is still by far the best way to make some money in the crypto trading world. These are not mutually exclusive things, but you need to be perfect on both of these. Mastering them can be achieved one by one as leaning them simultaneously not necessary as long as you just paper trade.

I have never seen someone make consistent money for years by trading daily without knowing TA, that doesn't exist and can't be done. This is why it is better to put some decent efforts on this always as much as we can. Would make it a lot more entertaining for all rather than getting a feeling like going back to school.

Can you elaborate what you mean by psychology existing there?

The whole ta revolves around psychology and reason we use charts to predict the markets, is that humans and their emotions are predictable and repetitive. We can see fear from the charts as well as greed, trust and hesitance.

There's a whole trading principle build around crowd psychology that studies the repetative patterns we see on the charts, that are reflecting market mood swings. You might have heard about it. I am talking about The Elliott wave principle. I see every TA indicator doing the same thing. Only difference that elliot wave theory is openly admitting it's purely representing crowd market behavior psychology.

op never mind this is kind of funny to me because when i buy bitcoin the price will be low and when i want to sell bitcoin the bitcoin market will be up it's absolutely ridiculous. It is never possible in bitcoin investment psychology trend will depend on something good or bad. Of course we need to have enough knowledge about bitcoin and have enough understanding about bitcoin market so that we can profit through bitcoin. If we invest bitcoin at wrong time then we must suffer a lot for that if we patience is very important in bitcoin we always have long term plan and if we invest patiently we will be successful one day.

Crypto trading required psychology to know your direction like when to trade in the market to be comfortable with what you are going to achieve at the end of your trading, and when not to trade not to engage yourself in lost in the market. As a newbie in the system, try your possible best to acquire solid psychology which are part of some of the things that is giving some potential traders wisdom to continue doing well in their crypto trading. Having a winning strategies is very important, but how to make it function whenever you trade in the market is the major challenge many traders in the community are facing today, and if you want it to function on the time try to always exercise patience.

Psychology in trading is important, but it is still of secondary importance. After all, this is just what we need to execute our strategy. No matter how clever your strategy is, once you stop following it, it will not bring you profit. Putting a strategy into practice requires discipline. Discipline allows you to manage your emotions. If emotions control your discipline, then sooner or later losses will come. It's unavoidable. Thus, we often understand trading psychology simply as emotional discipline. Of course, the very concept of psychology is very broad and, in addition to the emotional sphere, it includes a lot of things, for example, worldview, but it is emotions that prevent us from trading.

What about knowledge? Technical analysis is a part of knowledge that one needs to acquire before they get into trading because no matter how strong your psychology is, you can't get success alone with it and you need knowledge alongside a strong psychology to become an effective and successful trader.

Your psychology will help you decide what time is best for making a trade and your knowledge will help you determine which cryptocurrencies you should focus on and then you can do your analysis on those cryptocurrencies to see if they are in a comfortable trading zone or you need to wait or look for other options. So, it's a combination of psychology and knowledge that can make you an effective trader.

The mindset is very important in trading because even if you have defined a trading strategy and decided a game plan, you have to be strong enough to respect it without panic selling or panic buying by fear of missing out. FOMO is common feeling known by most traders, but it mostly leads to make mistakes, because whalesand exchanges know how to trigger this feeling in small investors and traders heads, and trap them at the end. Some people depict that as the enrichment of the smart money by the dumb one.

According to what he wrote, yes that is what he mean by that but even when there are analysis included, there is still a risk so we are still gambling here although that is much better because at least we did an extra effort. If the price of BTC is falling, it's only best to buy it and not sell because we can't be able to profit there but that approach was like investing already, not trading. Swing trading is a type of trading so analysis might still be needed there and for investing/hodling, there is also for them but it was not mostly technical rather it was fundamental. Maybe there are traders too who use fundamental analysis apart from technical.

YUP, Psychology exists bro this is why the market shows many swings in every zone, With every skill in the market you need one as mandatory the Price Action understanding because without analysing the price action you cant execute even basic trade.

Psychology exists, and that's the reason people take trades against the trending whether they lose or win is another debate but they trade in the opposite direction and mostly lose because the common phycology is if the price is already appreciated high now it will make some correction and that's a fact but against the trend traders with their weak phycology ignore that, they dont know how much more capital is coming in next frame, and they get an SL hit.

Explaining the whole this trade scenario was an idle situation to prove that we make trades based on phycology and that you need to master to be a big trader... hehe good trader...

Psychology is important in trading, crypto or non-crypto.
For example is a market cycle, which can be driven by psychological phenomena like greed, fear, overconfidence, etc. which can result in bubbles and crashes.

although psychology plays a significant role in cryptocurrency trading, it is not a massive barrier if you want to do trading.

What do you mean by psychological trading and the way you used it is somehow confusing. You mentioned it alongside technical analysis, making it look like (technical analysis and psychological analysis), while in the real sense, it is technical and fundamental analysis. We need to understand that whether technical analysis or fundamental analysis, psychology is both required. You cannot be successful in trading by only reading the charts and candlesticks without using your consciousness. In the real terms, psychology exists and not an illusion.

Where then is the position of fundamental analysis. All these while, I have always read about fundamental and technical analysis debate and not technical and psychological.

The markets are driven by emotions, however the trader that lets themselves be dominated by them will never succeed, since those that have great influence over the market are experts at pushing the right buttons so people take decisions that go against their own interests.

And FOMO and FUD are two perfect examples of this, as we see traders buying and selling at the worst possible time, when in fact they should be taking the opposite decision.

Can't a trader doing technical analysis have solid psychology and the right approach towards their trades so that they are making the trades with proper risk management? I don't think we should compare these two things because a trader can have both. Someone who doesn't know how to do technical analysis can have a solid psychology and the right approach, so why someone having these can also do technical analysis if they are capable of doing that?

Psychology exists, of course, how can that be an illusion? Every person has a psychology, whether it's solid or not, and when it comes to trading, a person who doesn't have the right mindset and psychology might not be able to gain enough success even if they have all other skills.

Am not saying psychology doesn't exist, having the right skill set is important before it.
You can't expect to go over your emotions as a trader when you don't have a tested and proven approach because you will continue to lose in the market.
You saying a trader without the right mindset can't gain enough success in the market is true, but as far you have the right approach it builds your confidence about your trades, and subdues your emotions then the right mindset can come in.
The mindset we are talking about is you accepting and taking full responsibility of any outcome in the market knowing you can't predict the market but only react with past and present datas.

Having an edge + emotions = profitability.

Any factor can affect our trades. Trading psychologies will vary to how you look at it. Emotions are also factors for your decisions and that's why it can affect you straightly. TAs are sometimes wrong and doesn't line with the actual market but at most times, they're good if you prefer to have it. Actually, any ways for you to be good at this market, do it because if that's what makes you survive on this market and have some winning trades then that's all what you have to do.
With all of the factors that you have encountered, combining them with your experiences will make you a better trader.

It could everything and this is something which is really that standard on which you cant really just that make yourself that be able to deal up with trading without having those qualities or those kind of skills and other aspects on which we know that this is something which is really that relevant. You would really be the ones who would really be able to fine out on which method or conditions which you would see yourself that able to
be that sustainable. We do know that even if you do try others analysis and trying out to copy but ended up still on a losing trade then this does basically means that not everyones method or ways would be also working for you. This is why it would be relevant that you are the ones who would really be that making out such adjustments.

Psychology, emotions, risks management etc... will be all that really needed along the way. You wont really be finding yourself that effective here on this space if you are someone whose really
that always loving on following others and doesnt formulate on your own.

A trader can have both a solid psychology and the right approach towards trading as well as the ability to perform technical analysis. Having a solid psychological foundation and a good trading mindset can be essential for successful trading, as it can help traders manage their emotions, avoid impulsive decisions, and stick to their trading plan. So, it is not a question of choosing between technical analysis and a solid psychological foundation, but rather recognizing the importance of both and integrating them into a holistic trading strategy.

This couldn't have been said any better. Both Technical analysis and solid Psychology is very important as both of them compliment each other. For instance, you could be very good at technical analysis — you have the right setups, you have good entries but you will end up fumbling the bag. This is from my personal experience because I had a trade that was doing well lately but then I fumbled the bag during the last crypto short term market dump last week that saw BTC hit $60K and ETH below $3.1K. My stop loss was much lower but I took it higher because I panicked. What happened this week? Almost 100% move of the price in my original direction. If my psychology was right to execute the trade to the latter regardless of any short term market scare, I would be eating good now.

That said, I've taken that as a cue to start building mental toughness and strong psychology to execute my trades based on my rules. Either TP or initially set SL. No impromptu trade closes, etc.

Very often the psychological state of a trader is ignored or thought as not important by the sources traders use to learn, but this is incorrect, since it does not matter how skilled a trader may become, if when the time comes they are unable to make use of their skills to trade the markets effectively because they have lost the control they must have over their emotions, and in fact it could be argued that the majority of the losses a trader will suffer during their careers, come directly from losing control over their emotions.

Psychology in trading is really an important issue that must be studied. Because all of this concerns sentimental or emotional issues for every trader in the market. In fact, we are all familiar with the fear and greed indicator which is used for sentimental market analysis. And this sentimental market analysis is proof that understanding trading psychology is quite important. And actually technical analysis, fundamental analysis, sentimental analysis, emotional management, risk and money management. All of that cannot be separated. Everything a trader must own and master if they want to be serious and successful in trading. All of them are needed and one cannot be ignored.

A tip at this point: Use a bot to execute your trades (or your trading strategy). This way, you won't be embarrassed to end a trade too early or to add capital to poorly performing trades.

It may take some time to set up, but it will save you an incredible amount of nerves - and above all money. Bots are a dime a dozen these days anyway, both paid and free.

Both are essential in trading.  Both psychology and technical analysis are essential in training.  We cannot compare one with the other in this case or define any one.  Just like trading cannot be learned without technical analysis, trading cannot be learned without mastering psychology.  Without technical analysis you will not understand the technical aspects of trading.  And without psychology you cannot keep your mind strong and free from greed.  Moreover, training requires a lot of mental endurance which cannot be achieved without psychology.'

It is not easy to figure out technical analysis because there are so many parts of it that people need to focus on, I believe that is going to make things harder for them. I am not saying that it will be impossible, of course you can study and learn there is nothing stopping you from doing that, but that doesn't mean that you are going to have easy time learning.

I have learned it a bit, and I can't say I am good enough yet, and even at this level, it took me so much to learn what I have learned, mind you I am not even some big trader. So be ready to give some proper time towards it if you want to be good at it, you need to spend some good chunk of your time for months in order to be good at it, a year if you want to be great.

Except the bot will be built into the exchange, its a hard pass for me because most hacks involve CEXs were due to API used for external trading bots. Speaking about bots, platforms ike 3comma used to be like the prime examples but all of those popular bots fell off hard. What I actually meant was that before executing any trade, I want to have TP and SL zones set out before hand so I don't sell before TP/SL due to sentiment changes (getting too excited to close before TP or too nervous and close before SL) when the trading is still active.

But thanks for the tip anyway. I will be sure to keep it in mind.

I agree with your point of view.
I believe that a person does any work keeping in mind the advantages and disadvantages of what they are doing. Unless a person is mentally and psychologically ready to do a job, that person cannot be interested in that job. Before starting any task, we mentally prepare ourselves for the benefits or disadvantages of the task.

So I don't see trading Technical Analysis and psychology separately because they both go side by side. A person with a good trading psychology will be able to acquire excellent technical analysing skills as well, combining both, they become a good trader.

I do agree that the psychological aspects in trading is sometimes underrated as majority focus more on technical analysis development. But if we come to evaluate them properly, both are actually crucial in trading. You cannot be a successful and profitable trader if you lack the emotional aspects, even if you are extremely good with technical analysis. A lot of traders lose not because they don’t have the professional skills and technicalities in trading, but because they fail on giving emphasis on their psychological aspects which is very vital in trading, as well as with technical analysis.

Sure both is needed to make not just a trader but a profitable one. In essence both need to be developed to safeguard and reduce the risk of the trader.

Trading is a game of probability, of which nothing is certain so is essential we have set rules and system that will help reduce  of which one of the essential way is conquering ourselves, because the one who conquers himself is a mighty warrior.  Cheers to many who are ready and on the part to profitability.
Build your Fundamentals, Technicals and have emotional balance all work hand in hand.

I think that there is no psychology behind short-term trades, you are either well-informed & very lucky or you will lose most of your trades... something like that happened to me, and probably to many others. But I believe there is psychology behind mid and long-term trades, you need to choose the right trade, get into it, and be strong enough to endure some rough times before profit comes. Until now, Bitcoin (and some other top coins) made a recovery and new ATH every time, psychologically strong people endured... I guess we can say that that is what "strong hands" actually means.

If you went to university you will know whats psychology and their function or the impact they create, what I'm trying to say that psychology is just like observation theory of understanding of some illusions, so what I'm trying to say is that you have to believe in psychology or not but many people today do understand the problem and things that happened around and through a psychological impact so anyone who says that psychology does not exist that means the person did not believe in science, so this is my own Theory of psychology and the its impact or functions to us.

the some of the things how will you say that make some people not to understand the magic bitcoin does is that they fail to understand the rudiment of cryptocurrency especially Bitcoin for the first time , for me, if you don't want to get involve into miscalculation of when bitcoin will rise and when it will be fall you have to venture into a long-term investment instead of investing most of the people who invested in short-term always lose their money or their capital based on they do invest because of the price of Bitcoin is accelerating so if the price of Bitcoin is not accelerating they will not invest so therefore I believe that cryptocurrency investment especially Bitcoin we have to understand the concept even also involve yourself to check the movement of candlesticks to know the proper time to invest or not.

with a psychology is the give you a direction of when to involve yourself into trading and this can happen when you have the basic concept or the basic knowledge of trading that is when you are psychological knowledge with a function properly because is working based what you have the knowledge of so if you don't have the knowledge I don't think that psychology directly in Trading or any other thing can help you out.

both technical analysis and the psychological impact of calculation in Trading can be executed when you have already acquired a knowledge of trading and you are also practicing trading that is when your psychology will a work out for you concerning trading so we can say psychology play a major rules trading when you have the knowledge first.

Not only on psychological aspects but also having that in good control on emotional aspects as well on which there are really a couple of factors on which you would really be needing up to control with so that
you could really be having that effective trading so that you could really be able to sustain yourself on this unpredictable space. It is really just that you cant really be able to take a good grasps on your first tries
but doesnt mean that it would really be impossible. Of course you would really be finding yourself that be relying with TA because not all the time you could be able to have those fundamentals that you can make use.

Also, not all the time that it would really be available and it would really be just that right that you would really be needing up to consider on making good trades via making good entries or buying point.
You would really be able to realize on how relevant these things to be considered on, you wont really be needing to put up your focus on a single point because each part
would really be taking up its relevance once you do make out trades specially on crypto space.

Some of us can think that psychological and emotional are pretty much the same but they actually have a few differences and one may lack good control on one of them, so it's important if we don't disregard them, as they can affect our trading activities. The market is still unpredictable, so having that effective trade may not always be possible at all times, especially if we are only getting started.

This is why it's important to not bet all in trading only to sustain ourselves continuously. Many traders are most of the times relying on TA and they are still fine with it, so yeah but if fundamentals are also available, then why not include them as well? As they might also help us to have a more successful trade.

Technical is the representation of fundamentals on the chart the market is runned by policies, market decisions, traders choices. Being good fundamentally and also in TA gives you an edge as we also have traders that rely mainly on Fundamentals.

I don't understand the difference you are talking about Mate and would love  if you elaborate on it, a far as I know the most important is having control over your Emotion because from Emotion streams FOMO, greed which is Psychology we talk about in Trading.

And I point a fact that without an edge, psychology is a crap, one need have a system which suites him and disciplines himself to follow, with proper risk management  he already know that two possible which is profit or lose, this will shaping him to trade without fear because he already has a system he follows. But skipping the process of learning and building psychology will make you keep losing because you understand nothing about the market.

Advantages that include good crypto knowledge, basic knowledge of trading is indeed very necessary.
Because Psychology will be formed from a series of events that occur while trading takes place.

One will not rely on psychology alone, but also on excellence, as they can read the market well using TA and FA.
Knowing the science of trading well and then hone trading psychology, it will be the perfect trade if you continue to practice it.

That is where some traders are missing it in their trading today because they feel when the price is falling is the best way to trade, not knowing that it will make them to achieve loss, and if you want to make money from trading ensure you watch the market price at the moment the price has risen higher.

 Crypto trading is not like other business you will invest and get rich quick from the business, but if you can endure for long with your trading, and follow the due process to to trade your coins you bought from the market, you will surely improve your profits.

Just focus on your hodling during the bear without having the mindset of getting rich quickly because once you start making profits from your trading it will help you to get rich when you stay long in your trading.

It can be appreciated a bit differently from other asset markets. Here you will buy when the market is falling even to a ground level - bitcoin that is. You can make a good profit from when you sell those same coins after a couple of years or earlier.

Bear market is indeed the good time to buy, most new traders don't understand it early and end up buying at the highs. These can be prevented by dummy trading in the start. But regular profits might not be possible, intermittent is the proper term to use.

When dealing up with trading and dealing up with an unpredictable space then it would really be just that normal that you would be needing up that kind of learning and knowledge on which you could be able to sustain up yourself or else you wont really be able to proceed or would be able to handle yourself on this unpredictable space. This is where you would really be needing up to consider on having that kind of engaging on learning up
technical analysis and so as with fundamentals on which this would really be something significant. You cant really just that hover yourself into this space without having that kind of consideration or learning.
It would really be so damn hard for you to be able to deal up with this unpredictable space if you wont really be able to apply something on which its normal that you would be needing to learn up
and deal up accordingly with these kind of steps.

I am not against this truth because the truth is accurate. If people have money, and have long term plans for investment, a bear market is very good or can consider as best period to accumulate Bitcoin.

However, there is another truth, that I would like to say, Bitcoin is a very solid investment asset, with very good ROI in history, so in either bear market or bull market, if you are an investor with long term plan, the bear market is still very good period for you to accumulate Bitcoin.

Because by having long term plan for your investment, you don't aim at buying and taking profit, exiting the market after some months or just one year. It's what I want to say, zoom out and build up your long term plan.

Psychology plays an important role in controlling everything in our life. Our psychology helps us make decisions by analyzing environmental situations and elements. So our knowledge strategy management is all about trading by analyzing our psychology.

Analyzing our Psychology in what way?
Do you imply, Psychology is over than having an edge in trading?

In trading,having the right knowledge and refining it. Will ensure your profitability, in essence build your skill set so that you wouldn't blame your losses based on psychology as other traders.

You can read the thread to have more knowledge about the subject, as traders perfecting the edge is necessary as well as being fucking profitable no room for mediocrity.

No one will deny the importance of sustainable psychology for trading, which allows you to keep cool when holding a trade, no matter which way the market is moving.But without technical analysis, it will be difficult for you to open an order in the right direction.

Having right knowledge isn't enough.

There's more to it when you've discovered how the actual trading goes to work. You have the basic knowledge and refining it still won't be enough to be honest.

You need to be better in most of your decisions and actions because of how quick this market goes, you might miss a lot of money or get to lose a lot in split seconds because of poor decision making.

You can be good in TA, FA, etc but when you're slow as a turtle in executing it, it doesn't make sense.

Those who don't believe in trading psychology are the same with those who think they can trade without Stop Loss (SL), it doesn't matter how a trader's winning rate is. It's just a matter of time before they got burnt. Back to psychology in trading, whether one is a fundamental or technical trader doesn't matter. Every trader needs to master their psychology to be able to profit from the market. Otherwise, they will be messed up by the market once they get hit by loss and they will lose confidence of the little they even know. Nothing messes a trader up like loss of confidence in their trading strategy or plan. Risk Management/Money Management is benched on trading psychology. It's an important aspect of trading.

It is almost the most important aspect of trading because even when you master the other sides of trading but have not yet mastered the psychological side, chances of making wrong decisions will still be very high. The psychological aspect of trading can affect your decision to either enter a trade, exit a trade or take profit too quickly before you can get maximum or get out of the market with a loss as a reaction due to fear, as soon as your predictions show a sign of pullback. Good traders are psychologically sound.

But I think that having the right knowledge will increase your confidence, which means that you can now decide more quicker but maybe you are still right that it is not enough because we might also need a luck as the market can still moves randomly sometimes.

Now if we don't have it, this is where we can lose quickly but as long as we are minimizing our volumes, we still have something left and we can use them to possibly recover and back on the profiting side again. Other than luck, we also need to be good at controlling our emotions because I think that having a good knowledge is separated to it, or having a good knowledge can also make us over-confident and greedy.

I am not saying that it is not going to increase your confidence but I'd say that it is not enough. It's good to have the right knowledge but it's about the final decision with your trades.

That's why it is what traders have to think of when they have the background already. It's not about how quick you are to decide but it is about on how good you are in making decisions.