Do you trade for money or emotional satisfaction?

[Elseye]

Probably most of people do that for money; I can't call the whole process "satisfying"

[strongwarrior238]

DO YOU WANT TO BE ENTERTAINED OR RICH?…IT’S YOUR CHOICE

I came across this excellent chart the other day. It shows those times in history when the S&P 500 doubled over a ten year period and the trajectory that this doubling took.

Please see here for a relevant chart: https://www.tradinggame.com.au/want-entertained-rich-choice/ 

Much commentary that followed on twitter related to the steady low volatility climb that characterised the latest run and how boring this was. One of the interesting thing about markets and money in general is that people betray their true desires and personality.

Markets are the true window into the soul and in this instance what traders were actually saying is that they wanted to be entertained and not rich. The constant current moaning about the lack of volatility is little more than the plaintiff cries of children who bedevil their parents every school holidays with cries of …I’m bored.

This lay observation tallies with what others have found. The seminal work in this field of trader immaturity is An Analysis of the Profiles and Motivations of Habitual Commodity Speculators by W.B. Canoles, S.R. Thompson, S.H. Irwin, and V.G. France. I have summarised their findings below and have added my own emphasis.

“The typical trader assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler.

 [He] does not consider preservation of capital to be a very high trading priority.

As a result, he rarely uses stop loss orders. He wins more frequently than he loses (over 51% of the time) but is an overall net loser in dollar terms. In spite of recurring trading losses, he has never made any substantial change in his basic trading style.

To this trader, whether he won or lost on a particular trade is more important than the size of the win or loss. Thus he consistently cuts his profits short while letting his losses run.

 He also worries more about missing a move in the market by being on the sidelines than about losing by being on the wrong side of a market move; i.e., being in the action is more important than the financial consequences.

Participating brokers confirmed that for the majority of the speculators studied, the primary motivation for continuous trading is the recreational utility derived largely from having a market position.

Numerous indications in our survey indicate that they are not trading solely or even primarily for profit, but may be maximizing excitement or the number of winning trades.”

So we come back to the original question. Do you want to rich or be entertained as the choice is entirely yours.

Author: Chris Tate
Article reproduced with kind permission of Tradinggame.com.au.

The article is concluded by the quotes below:


“It's in your best interest to focus on building your trading skills rather than on achieving a huge profit every month.” – Joe Ross

“No matter how good you may think you are, nobody is bigger than the market and it will beat you to your knees if you don't treat it with the respect it deserves.” - Adrian Alberts 

“Trading does not have to be very difficult — what can be difficult is finding the right path early on and properly understanding the major impact of your mental state on your trading results” - Gabriel Grammatidis 



www.tallinex.com wants you to be a successful trader


Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html

I think that for every one of us, commercial goals are for profit, because money and no one else has a purpose. The fact that we participate in the market is one of them, so it's just different ways of thinking. If you have the knowledge that you will master your assets and have no clear plan, then you are just like someone who is plunging into the silver and not knowing what the fate will be.

[Behene]

Yes i trade for money because coast of living harder and i hope to join this virtual trade can change my life

[kateryana81]

certainly it is to get money of course, because with us doing the trade work that we can get money and train also patience when the price of the goods is down

That's right, with trade we can make more money than the capital we develop. but it can all be done if we do it right. such as researching every coin we will sell and always controlling emotions.

And much better than this all is to learn them first. By learning you will come to know how to make the scenario suitable for you. How to customize things so that your output can be best for you. Many people don’t cater this point and start trading with so little knowledge but if the case is inverted and better basic knowledge is already known, the results can be so positive and satisfactory.

Some people just don't understand this basic step of studying first before trying.  Honestly,  the population of traders are growing but effective traders are not.  This may sound rude but not all who do trading will be good traders,  there will always be people who would get tired and stop because they are not getting profit.

Basically,  we do trading to earn money and make a living but we are required to learn things about it in order to succeed.  It may not be easy but once  you get to understand and have a strategy,  good profit will be yours.

Trading is something which is much riskier and the trickiest thing to do and that the ones who are into it have a very much fair idea of how things work in trading and that none of them is this much stupid to invest this much of the money and take such a big risk just for the sake of emotional satisfaction. All the traders who are busy in trading are only doing that because of the reason that they want to earn some good money out of it.

[sudnokpok]

I don't see trading crypto currency as an entertainment in any way but as some thing that brings profit to me at the end of my trade which simply mean that I trade for profit and not for entertainment purpose.

[LogitechMouse]

Many people see trading as another source of income and I am doing it for money too. No or a few only trading because of happiness or emotional satisfaction like you said. Many see trading as a job because they invested their money and they need to protect it at any times. I am not serious in trading and to be honest, I am emotionless when I am trading. I just need to do some strategies and tricks to make some money.

[maloibtc]

For both! I think that trading is the combination of both getting profit and emotional satisfaction. As for me, it is really great source of getting money because you develop your skills in the sphere of trading, always analyse market and feel happy when you achieve goals

[riderinred]

I don't see trading crypto currency as an entertainment in any way but as some thing that brings profit to me at the end of my trade which simply mean that I trade for profit and not for entertainment purpose.

How can you not be entertained if you look at the BTC chart and see all the barts that can be painted there?
When you are in the small 20 people chat group of a new coin at 3am and joking with the dev about life.
When the coin you have been carefully charting and observing for days suddenly rocket jumps into one direction and renders all your analysis useless.

Seriously without being entertained this whole space would just be too much for me.
Sometimes I just need to laugh in face of the absurdness of cryptoworld

[RenBct]

For me it's kinda both. because of course the reason i trade is for the money and the education aand experience. but the emotions in trading is just wow.

[cfif123]

if I alone by looking for money in the field of trading certainly it is to earn money, not to seek emotional satisfaction. because by looking for income in trading is not kidding because trading also has a considerable risk of loss

[sarjilcse]

i think no one doing trade for satisfaction, everyone doing trade for money. before doing trading you should avoid emotion.

[BLACK LEG]

I trade both for money and for emotionality. I actually have one coming as a consequence of the other.
Making money involves emotions of satisfaction and that's what you need.

[hisuka]

i think no one doing trade for satisfaction, everyone doing trade for money. before doing trading you should avoid emotion.

Others do trade for money that they can have during trading. They invest on a certain coin and trade to earn profit and good not to be emotional because it will take you into lose of money. Trades while you earn and learn on your moves in the market.

[Joriecoinbit]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.

All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .

[budz0425]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.

All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .

I am trading because I want to earn more than I could, as much as possible I want to earn extra income here as well, for the security of our future, and I would love to quit my job too when time will come that I will finally earning here I would quit my job and will just focus on trading.

[bitcoinzen]

i trade for money but with emotional satisfaction, I will try to manage for both.crypto trading is all about emotions roller coaster we need to manage both in order to succeed in crypto currency trading

[electron-coin]

Of course the most important source of trading is money. But the emotions that arise in this case are very unusual. Over time, I began to notice that I am also involved in trading for the sake of emotions. Thrills and experiences drag out, and money becomes a bonus for work 

[Granxis]

Of course the most important source of trading is money. But the emotions that arise in this case are very unusual. Over time, I began to notice that I am also involved in trading for the sake of emotions. Thrills and experiences drag out, and money becomes a bonus for work 

Everybody who makes a trade tries to control their emotions, emotions often cause people to make mistakes. The feeling of losing causes more loss. There are some psychological methods that control our feelings. Especially used by police and agents.

[liseff3]

Emotional satisfaction will we get if we play in large numbers because if our capital is small emotional satisfaction's unlikely to be fulfilled. Fortunately, I trade just for profit I don't care how much profit I get, I am still satisfied with the results.

[jack8989]

Emotional satisfaction will we get if we play in large numbers because if our capital is small emotional satisfaction's unlikely to be fulfilled. Fortunately, I trade just for profit I don't care how much profit I get, I am still satisfied with the results.

I'm on the opposite of you, i think the emotional satisfaction is gained if we're playing with the small amount because we actually don't care about the money.
And We're trading for money when we're trading with the large amount and we actually care about how much we will make.