Don't Spend Too Much Time Trading? is that true?

[amskas]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

[stomachgrowls]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

Its not really bad on spending too much time on trading since there are are active traders which do really spend their times on doing trading. This would really depend on what kind of trader you are. The suggested thing on here is when you do know how to stop specially when your mind or brain is quiet tired on doing trading because once you are tired you cant execute trades properly which causes mistakes. which causes for us to lose up money.

[BTCLovingDude]

it depends on what you mean by "spend time". wasting time for example is not proper way of spending it. and that's what most people do.

but if you spend time constructively by
studying the market,
analyzing the charts,
learning how to trade,
reading articles,
watching the movement on charts and thinking about reasons for each change
....
that would be a good thing.

some people even start "demo trading". if the platform allows that (crypto trading platforms rarely have this feature) then even better, but if not on paper or in an excel sheet. placing imaginary buys and then watching if they get filled, then placing imaginary sells and finally seeing if you could make profit.

all trading needs is experience. to know how things work and then acting fast.

[OmegaStarScream]

If I know something is that you should never sell out of fear. Let's take for example the current situation with 1st august, everyone started selling because they thought there will be a chain split. The price reached almost 1800$ and then, BIP91 locked in and more news showing that SegWit will actually get activated soon, the price started increasing again at ~2800$.
Those who sold lost a lot of money (If they bought again) but that wouldn't happen If they only waited a little bit. If you are trading some pump and dump coins, the market could crash in a matter of seconds, instead, trade coins that worth it and you will definitely see results in the long term.

[HeRetiK]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

If you spend time analyzing the charts to prepare a trading strategy for the upcoming moves, that can be time well spent. At least if you actually stick to your analysis and follow through with your plans. If you just stare at the charts and start second guessing yourself at every minor move... that's time wasted.

[bitcoinisbest]

This is not true providing you know the trading techniques and know when to buy/sell and from where to buy/sell. More you trade better will be your understanding and prospect to buy/sell frequently will yield you profits during the course of time. There may be few losses as well considering the price fluctuation which bitcoin go though but this should not stop you from trading as sometime it also goes in your favor.

[pedrog]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

Sometimes the best trade is no trade at all.

It is very difficult to predict the future, and we can make mistakes if we start feeling the pressure to sell or to buy, staying away helps to gain perspective.

[omonuyak]

If you don't want to spend much time on trading then I will advise you to buy a bot that can trade on your behalf. Many traders are making a lot of coins using bot for trading and you can now have time for yourself.

[V1saya]

You can spend time but it should not be much that results to stress and lack of sleep during nigh time. Limit trades and set your time if you are a day trader. In my experience the more time you overspend looking at those charts the more emotional you becomes.

[Strongkored]

it depends on what you mean by "spend time". wasting time for example is not proper way of spending it. and that's what most people do.

but if you spend time constructively by
studying the market,
analyzing the charts,
learning how to trade,
reading articles,
watching the movement on charts and thinking about reasons for each change
....
that would be a good thing.

some people even start "demo trading". if the platform allows that (crypto trading platforms rarely have this feature) then even better, but if not on paper or in an excel sheet. placing imaginary buys and then watching if they get filled, then placing imaginary sells and finally seeing if you could make profit.

all trading needs is experience. to know how things work and then acting fast.

I'm agree with you if spend time for learning something about trading then that should not wasting the time.
If you have spend much time and make many stupid mistake you should stop trade for a while and refresh your mind, I think this month many trader make mistake like sell in panic situation.

[buwaytress]

There's no such thing as a waste of time if you're investing it in useful learning. But newbies do tend to spend a lot of time on the non-critical aspects of trading. e.g.:

1. why is my deposit taking so long?
2. I should check the market again, maybe it's changed since the past 1/5/100 minutes.
3. Maybe there's some important news going on, lemme check.

If you've got a strategy, be disciplined and stick to it. Allow your trades to execute on the prices you set, allow stop/losses and take/profits to trigger. I fall into such time-wasting traps myself, just mindlessly looking at charts without taking notes or reading empty conversations in chatboxes. And getting excited at how close to my orders the prices are coming/going. It's human.

[jems]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

Yes, because too much spending time watching your trades can trigger you to sell or to buy by your emotions ,Leaving your trades while working on something is a good practice to not be panic over your trade. Eventually spending time is not bad if you can control your emotions with those price up or down it willbe good.

[Ronaldcoin2017]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

Its not really bad on spending too much time on trading since there are are active traders which do really spend their times on doing trading. This would really depend on what kind of trader you are. The suggested thing on here is when you do know how to stop specially when your mind or brain is quiet tired on doing trading because once you are tired you cant execute trades properly which causes mistakes. which causes for us to lose up money.

i strongly agree on this qoute of yours.time is gold spending it through things that can gain a profit .is not really bad actually it is  good to be a traders you can learn more things .like handling a  differrent kinds of people in a different situation.i think also that it is depend on what kind of person you are.

[Mahanton]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

Our bodies does really need sleep and rest on everything that we do in the entire days which means if you do over exert your body and mind on doing trading then its not really good and we are speaking about time being spend on trading would really depend on how active you are on doing or setting up some trades. If this thing would really makes you a better trader then its good as long you dont abuse your body. Trading does really require learnings on any trades that you execute because the longer we expose the better since it will really mold us on a better trader later on. If you can handle your trades properly its not really a problem if how many hours you would put on trading.

[Bhinodm]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

It's not about how much time you are spending on trading. All that matters is that whether that time is spent strategically or wasted by hovering on various Altcoins available for trading.
One must have a strategy on how to invest, on which Altcoin your money will be invested and for what duration trading in a particular cryptocoin is worthy.

[BigBoy89]

i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?

You could spend as much time on trading and you want and feels comfortable. With one BIG BIG BUT - On different positions. This will save you from overthinking and chancing already made decisions. When you set enter/exit points of your current trade, just move to another or stop. Don't go back for overthinking - this usually leads to mistakes. Follow your guts.

[Potato Chips]

Spending too much time on trading is not that bad as long as you are doing your responsibilities constantly e.g. eating, cleaning, taking a bath etc., if yes it is a good thing actually

as experience always counts however that will be futile if your relying on your emotions too much and what worse is youre not learning the lesson on it. in your situation op, i

suggest that until you can't control your emotions, stop trading because you'll lose a lot.

[Mpamaegbu]

The issue isn't the amount of time spent online trading. The problem lies with the individual emotion while trading. How able an individual is able to control their emotions if trades go against them into loss. Or how quickly they rush to close a winning trade thereby cutting short their profits. In the past I had a cousin who would place and close over 40 trades a day in forex. Most times over 95 percent of those trades ended in loss.

[sweetbet]

There's no need to spend a lot of time trading if you know the coins that you want to trade with, their minimum and maximum price history, and you're willing to place an open order and wait until your desired price for the trade is reached.

For example, let's say you want to buy 10 Ethereums. You study the price history/trend and set up an open order to purchase 10 Ethereums when the price drops down to 0.07740000 or lower. But you might want to keep an eye on the price chart because you might decide to cancel the open order and buy at 0.07900000 because that price is low enough and you don't want to keep waiting for a minimum price that might not happen.

[Clavulanic]

The issue isn't the amount of time spent online trading. The problem lies with the individual emotion while trading. How able an individual is able to control their emotions if trades go against them into loss. Or how quickly they rush to close a winning trade thereby cutting short their profits. In the past I had a cousin who would place and close over 40 trades a day in forex. Most times over 95 percent of those trades ended in loss.

That's so sad for a trader online,  because somehow as expected for your investments the profit will have to gain returns in the future. Upon reading the stories you revealed here it come to a certain thinking of mine that spending too much time in trading could possibly caused you panic selling decisions. Then that is really confirmed here that without self control and managing emotions had caused the cousin of our mate here to loss the trades invested in forex.